Fri, 20 May 2022

Organic Soymeal Market Outlook

As per Market Research Future (MRFR) analysis, the global market for organic soymeal has witnessed increased demand over the last few years and is expected Organic Soymeal Market size was valued at $1,890 million in 2016 and is forecasted to reach $XX million by 2028 with an estimated CAGR of 3.6% from 2021-2028.High nutritional value of organic soymeal and major protein supplement applications due to high protein content are likely to drive the global organic soymeal market over the forecast period.

Market Dynamics

The main drivers that affect demand for organic soybean on the global market are the growth of the organic food and feed industry. Increasing consumer perception of health benefits of organic foods as consumers strive for natural products with less chemicals and additives are key factors driving demand for organic soybean food products. The demand for organic soya bean is also expected to increase in the feed industry due to the growing demand for organic chicken, as the market for organic soya bean is rising among feed manufacturers. Moreover, the increase of organic and natural food consumption is also on the rise, as health problems such as obesity, diabetes and blood pressure are pushing consumers to adopt a healthier lifestyle. Consumers are also more inclined to eat natural foods containing plant-based proteins, such as soya organic protein-based products. However, one of the big threats facing the organic soymeal market is grain price instability due to climate change. Irregularity in the environment and seasonal fluctuations influence crop production due to crucial and irregular rainfall patterns and thus have a direct influence on organic soybean production.

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Segmentation

The organic soymeal market is segmented based on application, end- product, and distribution.

Based on the application, organic soymeal for human food will dominate the industry and is expected to have a largest share of more than 95% in the global market. Increasing customer awareness of wellbeing is one of the key drivers of organic soymeal. Increasing awareness of the health benefits of organic food products is likely to have a positive effect on the development of this sector. The use of organic soybean dependent on animal feed is also projected to rise at a high rate during the forecast period.

Based on the end-product, the market is segmented by protein, oil, meal, and others.

Soybean meal is segmented across distribution networks as supermarkets, specialty shops, online stores, and convenience stores. Online retailers are the most popular form of shopping for both customers and suppliers because they are convenient for both. Supermarkets have also developed a strong customer base over the last 10 years and are projected to expand at a substantial pace.

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Regional Analysis

Organic Soymeal market is segmented into five key regions such as North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa.

The Asia Pacific will dominate the organic soybean market (both in terms of value and volume) with more than 35% of the market share and is expected to hit a market value of more than USD 200 million at CAGR of 18.15% by 2022. Latin America is expected to have a high growth rate of 18.25% over the given period, due to the high production volume of soybean in the country. Increased demand for organic ingredients in animal feed has also played a key role in the development of the organic soya sector in the world over the last few years.

Key Players

Some of the key players in the global organic soymeal market include Sapthsathi Organic Agriculture project (S.O.A.P.) (India), Soni Soya Products Pvt Ltd (India), AFG Brasil S/A (Brazil), Grain Millers Inc. (US), Perdue Farms (US), Tyson Foods Inc. (US), Pilgrim's Pride (US).

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