Arecent report by Transparency Market Research (TMR), a leading marketintelligence firm, assesses the growth dynamics of the global soybean market overthe period from 2017 to 2025. According to the report, the soybean market isexpected to register a decent rise by the end of the forecast period, thanks tointense competition among the key market players.
With FujiOil Group, E.I. du Pont de Nemours & Co., House Foods Group Inc., CHS Inc.,The Scoular Co., Kerry Inc., Cargill Inc., The WhiteWave Foods Co.,Archer-Daniels-Midland Co., and several others leading the worldwide market forsoybean, it demonstrates a largely fragmented business landscape. The keyplayers are concentrating on product innovations to gain a strong foothold inthis competitive environment. In the coming years, they are likely to increasetheir investments in the soybean market, states the research report.
As per theresearch study, the global soybean market is expected to report a healthy riseat a CAGR of 5.00% during the period from 2017 to 2025. Lately, the demand fororganic soybeans has witnessed a significant growth over conventional soybeansdue to the increasing preference for natural and healthy food products amongconsumers. The scenario is projected to remain same over the next few years,reflecting positively on the organic soybean segment. Protein, milk, oil, tofu,fiber, soy milk, and meal have surfaced as the main products of this market. Witha demand share of 72.90%, the meal segment is anticipated to lead the globalmarket over the forecast period, notes the study.
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Geographically,the worldwide soybean market is mainly spread across North America, AsiaPacific, Europe, Latin America, and the Middle East and Africa. Currently, AsiaPacific is the key regional soybean market across the world. The ever-risingpopulation in Asia Pacific is expected to result in continued supremacy of thisregional market in the years to come.
Increasing Awareness regardingHealth and Fitness to Support Growth
“The risein awareness level regarding health and fitness among consumers, especially theyoung generation, is the key factor that is fuelling the demand for soybeanaround the world,” says the author of this research study. The increasingknowledge about medical benefits of soybeans, such as providing cover againstcancer, eliminating birth defects, reducing risk of heart diseases, anddeceasing menopausal impact, are also supporting the soybean market’s growthconsiderably.
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In additionto this, the increasing use of soybean in food and beverages, personal careproducts, pharmaceuticals, dietary supplements, and animal feed is influencingthe global soybean market positively. The demand for soybean in animal feed isexpected to increase further, making it the key end user of soybean in the nearfuture, states the research report.
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Fuelling Demand for Ready ProteinIngredient Products to Hamper Soybean Market
Althoughthe global soybean market is currently reporting positive growth and isprojected to do just fine in the coming years, the fuelling demand for readyprotein ingredient products are likely to surface as a threat to it smoothgrowth trajectory. The advent of other substitute and dietary replacements forsoybeans will also pose a challenge for the worldwide soybean market’s growthover the next couple of years. However, the increasing investments by keymarket players, in order to introduce new products, is anticipated to open newsuccess streams for them in the near future.
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