Soybean meal is made with residue left after oil is extracted from soybeans and is often used in food and also in animal feeds primarily as a protein companion and to improve metabolism. Since the beginning of nineteenth century, soybean meal is been a majorly accepted part of poultry and livestock diets in North America; but, the actual commercialization of soybean meal kicked off since 1970’s and increased in the 90’s decade with high demand from developing countries. Soybean meal is mainly classified into two types based on crude protein content. The high-protein soybean meal containing 48 % protein and conventional soybean meal that contains 43% protein and hull.
The health benefits associated with protein rich foods, such as almonds, peanuts, and soybean increase their demand in the market. Soybean can be used as an alternative for cereal protein. This factor boost the growth of the soybean meal market. Soybean is also used in pet food. This is anticipated to fuel the demand for soybean meal in the market during the forecast market. There is an increase in the global requirement of biodiesel as a major alternative for petrol and diesel. Biodiesel is produced using soybean; therefore, this in turn fuels the growth of the soybean meal market U.S. is one of the leading markets of biodiesel production and soybean meal has been used extensively for the production of biodiesel in the region.
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Soybean meals need to be manufactured at an increased rate to meet the market requirement. But with increase in crop cultivation there lies the threat of disease. Soybean rust is a fungal disease originated in Asia. This has spread across the soybean fields of South American nations such as Brazil, Argentina, Chile, and finally to the U.S. Soybean rust prevention and control requires fungicides, which are expensive and yield damage is extreme. This disease poses a potential threat to the growth of the soybean meal market.
According to Soybean Meal Information Center nearly 60% of the total soybean meal is been consumed in China, the EU, and the U.S. together. China is the major producer of soybean meals followed by the U.S. While major importers of soybean meals are Vietnam, Belgium, and Spain, export is leaded by the U.S., Italy, and India. One of the biggest improvements in the soybean cultivation is the rapid adoption of zero tillage technologies by farmers in both South and North America. Although soybeans are majorly produced in a limited number of countries, they are traded widely, and soybean meal is available in nearly every country.
The global soybean meal market is segmented into application type, industry, and region. Based on application type, the market is classified into animal feed, food processing, and biodiesel. Based on industry, it is divided into animal nutrition, food & beverages, and pharmaceuticals. Based on region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
Some of the key players operating in the soybean meals market include Vippy Industries ltd, Mukwano Group, Granol Industria, Zhongken Guobang (Tianjin) Co. Ltd., Gauri Agrotech Products Pvt. Ltd., Bonne Vie Soybean Meal, Gimatex Industries Pvt. Ltd., Eco Export, Shafer Commodities Inc., and Nordic Soya.
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Key Benefits For Stakeholders
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the soybean meal market from 2018 to 2026 to identify the prevailing market opportunities.
- The key countries in all the major regions are mapped based on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry. Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
- The report includes the analysis of the regional & global market, key players, market segments, application areas, and growth strategies.
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