Global Soyabean Meal Market Segmentation, By Nature (Organic and Conventional), Form (Powder, Oil, and Granular), Process of Production (Normal Soybean Meal, De-hulled [min 50% protein] Hipro Soybean Meal, DE-hulled [min. 48% protein] Hipro Soybean meal, Defatted Soya Flour Toasted, and De-Fatted Soya Flakes Toasted), Application (Animal Feed, Food Industry, Beverage, and Health Care Product), Distribution Channel (Supermarket, Specialized Stores, Online Stores, and Retail Stores) – Industry Trends and Forecast to 2031
Soyabean Meal Market Analysis
The soybean meal market has experienced significant growth due to advancements in processing technologies and increased demand for animal feed. Recent innovations, such as enzymatic treatment and solvent extraction, enhance the protein content and digestibility of soybean meal, making it a more efficient feed source for livestock. These methods improve the nutritional profile, catering to the rising demand for high-quality animal protein in regions such as Asia-Pacific, where livestock farming is expanding.
Moreover, the incorporation of biotechnology in soybean cultivation, including genetically modified (GM) crops, has increased yield and disease resistance, further boosting soybean meal production. With the growing trend of sustainability, producers are adopting eco-friendly practices, such as precision agriculture and integrated pest management, to minimize environmental impact while maximizing yield.
The rise in the vegan and vegetarian population also drives the demand for soybean meal as a protein-rich plant alternative, expanding its application in food products and supplements. As a result, the soybean meal market is projected to grow at a robust pace, with innovations in processing and cultivation playing a crucial role in meeting the increasing global demand for sustainable and nutritious protein sources.
Soyabean Meal Market Size
The global soyabean meal market size was valued at USD 127.39 billion in 2023 and is projected to reach USD 177.04 billion by 2031, with a CAGR of 4.20% during the forecast period of 2024 to 2031. 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, pricing analysis, brand share analysis, consumer survey, demography analysis, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
Soyabean Meal Market Trends
“Rising Demand for Plant-Based Proteins”
The growing trend toward plant-based diets significantly contributes to the expansion of the soybean meal market. As consumers increasingly seek healthier and sustainable protein sources, soybean meal has gained popularity as a high-protein ingredient in both human food and animal feed. For instance, in the U.S., major food companies are incorporating soybean meal into meat alternatives and protein supplements to meet consumer demands for plant-based options. Additionally, the livestock industry is utilizing soybean meal as a primary protein source, boosting its demand. This trend reflects a broader shift towards sustainable agricultural practices and health-conscious eating, driving growth in the soybean meal market.
Report Scope and Soyabean Meal Market Segmentation
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Attributes
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Soyabean Meal Key Market Insights
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Segments Covered
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Countries Covered
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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 Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, 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
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Key Market Players
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ADM (U.S.), DuPont (U.S.), CHS Inc. (U.S.), The Scoular Company (U.S.), Kohinoor Feeds and Fats Ltd. (India), Kerry (Ireland), Batory Foods (U.S.), Denofa AS (Norway), Agrocorp (Singapore), MJI Universal Pte Ltd. (Singapore), Gauri Agrotech Products Pvt. Ltd. (India), Agro Ind Group (Kazakhstan), NOW Foods (U.S.), Wilmar International Ltd. (Singapore), Cargill, Incorporated (U.S.), Foodrich Soya Co. LTD. (Thailand), The Nisshin OilliO Group, Ltd. (Japan), Mukwano Industries Uganda Ltd. (Uganda), Ghana Nuts Company Limited (Ghana), and Food Chem International (China)
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Market Opportunities
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Value Added Data Infosets
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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, pricing analysis, brand share analysis, consumer survey, demography analysis, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework
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Soyabean Meal Market Definition
Soybean meal is a byproduct of oil extraction from soybeans, commonly used as a high-protein animal feed. It typically contains around 44-48% protein, making it a valuable ingredient in livestock and poultry diets. Rich in essential amino acids, soybean meal promotes growth and enhances feed efficiency. Beyond animal nutrition, it is also utilized in various food products and as a plant-based protein source for human consumption. The global soybean meal market has seen significant growth due to increasing demand for protein-rich diets and sustainable farming practices. It is a key player in the animal feed industry worldwide.
Soyabean Meal Market Dynamics
Drivers
- Rising Demand for Animal Feed
The soybean meal market is significantly driven by the rising demand for animal feed, particularly in developing nations such as China and India, where the livestock industry is expanding rapidly. With increasing meat consumption, especially poultry and pork, these countries require substantial quantities of high-protein feed ingredients, such as soybean meal. For instance, China's livestock sector is projected to consume over 60% of its soybean meal imports for feed purposes by 2025. This escalating demand for protein-rich feed to support livestock growth not only boosts the soybean meal market but also highlights its essential role in ensuring food security amid rising population and consumption trends.
- Growing Biofuel Production
The increasing interest in biofuels, especially biodiesel, significantly drives the soybean meal market. As governments and industries focus on renewable energy sources to reduce carbon emissions, soybean cultivation has surged. For instance, the U.S. biodiesel production reached approximately 3 billion gallons in 2022, with soybean oil being a primary feedstock. This surge in biodiesel production leads to higher soybean processing, resulting in an abundant supply of soybean meal as a byproduct. Consequently, the availability of soybean meal for animal feed increases, catering to the growing demand in the livestock and aquaculture sectors, further propelling the market's growth.
Opportunities
- Technological Advancements in Agriculture
Technological advancements in agriculture, particularly through genetically modified (GM) soybean crops, present significant opportunities in the soybean meal market. GM soybeans, engineered for pest and disease resistance, enhance crop yield and reduce losses, directly impacting the supply of soybean meal. For instance, varieties such as Roundup Ready soybeans allow farmers to use herbicides more effectively, leading to healthier crops and higher profitability. Additionally, precision agriculture technologies, such as drones and satellite imagery, enable farmers to optimize planting and harvesting processes, further boosting productivity. These innovations not only increase soybean availability but also support sustainable practices, positioning the market for robust growth.
- Rising Plant-Based Diet Trends
The surge in plant-based diets is significantly impacting the soybean meal market, creating new opportunities for growth. As more consumers adopt vegetarian and vegan lifestyles, the demand for high-quality plant-based protein sources has risen sharply. Soybean meal, known for its rich protein content, is increasingly used in the formulation of meat alternatives, such as burgers and sausages. For instance, companies such as Beyond Meat and Impossible Foods incorporate soybean meal into their products to enhance nutritional value. This trend not only boosts soybean meal consumption but also encourages innovation in food products, enabling manufacturers to explore diverse applications in the growing plant-based sector.
Restraints/Challenges
- Competition from Alternative Feed Sources
Competition from alternative feed sources significantly hinders the soybean meal market. The emergence of options such as canola meal and various animal by-products presents a challenge, as these substitutes often provide comparable nutritional profiles at lower costs. Livestock producers increasingly turn to these alternatives to reduce feeding expenses, resulting in diminished demand for soybean meal. Furthermore, the growing trend of utilizing more sustainable and diverse protein sources complicates market dynamics, prompting consumers and producers to reassess their reliance on traditional soybean meal. As a result, the soybean meal market faces ongoing pressure to maintain its position amid this evolving landscape of alternative protein sources.
- Fluctuations in Soybean Prices
Price volatility in the soybean meal market significantly hinders its growth. Fluctuations in soybean prices are influenced by various factors, including adverse weather conditions, supply chain disruptions, and shifting demand dynamics. These unpredictable price changes create uncertainty for producers and consumers, leading to unstable costs for soybean meal. Businesses reliant on consistent pricing may struggle with long-term investment and strategic planning, making it difficult to commit to production or expansion initiatives. This volatility can ultimately reduce market confidence, limit profitability, and discourage new entrants, further constraining the growth potential of the soybean meal market.
This 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 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.
Soyabean Meal Market Scope
The market is segmented on the basis of category, form, product type, and end user. 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.
Nature
- Organic
- Conventional
Form
- Powder
- Oil
- Granular
Process of Production
- Normal Soybean Meal
- De-hulled [min 50% protein] Hipro Soybean Meal
- DE-hulled [min. 48% protein] Hipro Soybean meal
- Defatted Soya Flour Toasted
- De-Fatted Soya Flakes Toasted
Application
- Animal Feed
- Food Industry
- Beverage
- Health Care Product
Distribution Channel
- Supermarket
- Specialized Stores
- Online Stores
- Retail Stores
Soyabean Meal Market Regional Analysis
The market is analysed and market size insights and trends are provided by country, category, form, product type, and end user as referenced above.
The countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
Asia-Pacific is expected to dominate the soybean meal market due to the presence of major producers such as China and India. These countries have significant agricultural infrastructure and high soybean production capabilities, driving market growth. Additionally, increasing demand for livestock feed and soy-based products in the region further boosts the soybean meal market. The growing population and rising meat consumption also contribute to this upward trend in Asia-Pacific.
Europe is expected to expand at a significant growth in the soybean meal market due to its increasing use in a wide range of products, including bakery items, health foods, and cosmetics. The demand is also growing in the pharmaceutical sector, where soybean meal is used in antibiotic manufacturing. This diversified application is driving market expansion across the region over the forecast period.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as 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.
Soyabean Meal Market Share
The 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 market.
Soyabean Meal Market Leaders Operating in the Market Are:
- ADM (U.S.)
- DuPont (U.S.)
- CHS Inc. (U.S.)
- The Scoular Company (U.S.)
- Kohinoor Feeds and Fats Ltd. (India)
- Kerry (Ireland)
- Batory Foods (U.S.)
- Denofa AS (Norway)
- Agrocorp (Singapore)
- MJI Universal Pte Ltd. (Singapore)
- Gauri Agrotech Products Pvt. Ltd. (India)
- Agro Ind Group (Kazakhstan)
- NOW Foods (U.S.)
- Wilmar International Ltd. (Singapore)
- Cargill, Incorporated (U.S.)
- Foodrich Soya Co. LTD. (Thailand)
- The Nisshin OilliO Group, Ltd. (Japan)
- Mukwano Industries Uganda Ltd. (Uganda)
- Ghana Nuts Company Limited (Ghana)
- Food Chem International (China)
Latest Developments in Soyabean Meal Market
- In 2023, UFAC-UK introduced a novel partial soybean meal replacement designed specifically for dairy diets. This innovation aimed to improve feed efficiency and enhance the nutritional value for dairy cattle. By offering a sustainable and cost-effective alternative to traditional soybean meal, UFAC-UK targeted the growing demand for optimized animal nutrition in the dairy industry, addressing both environmental and economic challenges within livestock farming
- In 2022, the United Soybean Board (USB) and The Yield Lab Institute launched the Soy Innovation Challenge to elevate the value of soybean meal. The initiative sought to explore innovative applications and emerging markets for soybean meal, focusing on its broader utility beyond traditional uses. This challenge aimed to foster collaboration, drive innovation, and unlock new economic opportunities for soybean producers
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