Global Soybean Processing Market – Industry Trends and Forecast to 2030

Soybean Processing Market Analysis and Size

Nowadays, soybean is very popular, because it is one of the major food sources in animal and human nutrition. The chemical and physical attributes of soybean are of great prominence to the use of soybeans. The soybean processing sector is increasing at a faster rate of 9 to 10% annually still requires to grow to bridge the nation's protein gap. The soybean processing sectors are incorporated into the nutrition intervention programs of the government. This will ensure easy access to soybean products on local and regional levels and would be the greatest way to deliver low-cost nutrition to the masses and generate employment opportunities during the forecast period.

Data Bridge Market Research analyses that the soybean processing market was valued at USD 78.95 billion in 2022 and is expected to reach USD 146.13 billion by 2030, registering a CAGR of 8.00% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Soybean Processing Market Scope and Segmentation

Market Definition

Soybean states to a leguminous vegetable crop normally grown in tropical and subtropical climates and measured one of the most valuable crops in the globe. It is an oilseed crop, a good source of protein in the human diet, feed for livestock and as a biofuel and aquaculture. The conventional soybean extraction process contains four steps: preparation, extraction, solvent recovery from miscella and desolventizing or toasting of meal. Modern soybean processing includes large plants with various operations that must be measured.

Global Soybean Processing Market Dynamics

Drivers

• Growing demand of soybean by-product

The demand for soybean by-products such as soybean meal and oil cakes has augmented in last few years. The high nutritious value of the products has boosted the popularity of soybean processing among consumers. The augmented disposable income of consumers in urbanized nations and the enhanced soybean productivity in these nations contributed to the demand for soybean by-products. According to the USDA, soybean oil production in the U.S. was recorded at 11.3 million tons in 2020, growing from 9.9 million tons in 2016. The demand for soybean oil in the nation contributed to the manufacture of commodities, which is anticipated to drive the growth of the soybean processing market during the forecast period.

• Increasing usage of soybean in food sector

Soybean is extensively used in the food sector as condiments in salads and for many other cooking purposes. Soybean is also popular as a healthy substitute to fat and cholesterol-rich food. It is the perfect dairy substitute for people who are lactose intolerant. Thus, the high usage of soybean in food sector for applications such as the preparation of sauces, potato chips, non-dairy creamers, dressings, margarine, shortening, whipped toppings and mayonnaise further influence the growth of the soybean processing market.

Opportunities

• Increasing demand and  development of soy foods

All types of soy food processing equipment are manufactured and present in India. Soy food processing is a fascinating food business involving highly qualified professionals with the IIM and IIT background. There are at least more than 2,000 soy food industries running on small, medium, and large scales dealing to the demand for soy foods on a regional and local basis. These companies are making a large volume of tofu, soymilk and several kinds of soy food products every day. These companies are capitalising money to source good equipment and attain technical know-how from other nations and technical know-how from other nations. A good number of the soy food manufacturers visit the Anuga food show in Germany and the Gulf food in Dubai and visit the Southeast Asian and the United States countries to attend factory visits, short-term courses, and training programs on soy food processing. They are applying those techniques in their processing to grow their businesses.

Restraints/ Challenges

• Issues associated with soybean processing market

Regulations on genetically modified soybeans and the issues with lecithin allergy owing to the consumption of soy derivatives are some of the major factors which is expected to hinder the market growth. Moreover, increase in concerns about the soybean cultivation in the Amazon causing deforestation is estimated to challenge the market in the forecast period of 2023-2030.

This soybean processing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the soybean processing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Soybean Processing Market Scope

The soybean processing market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Whole Soybean
• Meal
• Oil
• Others

 Application

• Animal Feed
• Aqua Feed
• Biofuel
• Food and Beverages
• Personal Care
• Dietary Supplements
• Pharmaceuticals
• Lubricants
• Coatings
• Paints
• Industrial Solvents
• Adhesives and Sealants
• Hydraulic Fluids
• Building Materials
• Others

Soybean Processing Market Regional Analysis/Insights

The soybean processing market is analyzed and market size insights and trends are provided by country, product and application as referenced above.

The countries covered in the soybean processing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Global (APAC) in the Global (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is expected to dominate the soybean processing market due to the high production, high usage of soybean in food and feed industry. Moreover, increase in demand for biofuel where soybean oil is used as feedstock and increasing demand for high-quality protein wil likely to boost the market growth in this region.

South America in anticipated to be the fastest growing region in soybean processing market during the forecast period of 2023-2030 due to increase in export activities from this region. Brazil and Argentina dominate South America market because of the rise in production of soybean.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Soybean Processing Market Share Analysis

The soybean processing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to soybean processing market.

Some of the major players operating in the soybean processing market are:

• ADM (U.S.)
• DuPont. (U.S.)
• CHS Inc. (U.S.)
• The Scoular Company (U.S.)
• FUJI OIL HOLDINGS INC. (Japan)
• Batory Foods. (U.S.)
• Crown Soya Protein Group Company (China)
• Nutra Food Ingredients (U.S.)
• Osage Food Products (U.S.)
• Foodchem International Corporation (China)
• Bunge Limited (U.S.)
•  Cargill, Incorporated (U.S.)
• Wilmar International Ltd (India)
•  Louis Dreyfus Company B.V. (Netherlands)
• Devansoy Inc. (U.S.)
• Sotexpro (France)
• Kerry Group plc. (Ireland)
• International Flavors & Fragrances Inc. (U.S.)

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