Soybean Market Overview:
According to the US National Library of Medicine, around 65% ability to digest lactose is lost in nearly all human beings post infancy. As we grow older, we lose our capability to digest dairy and its products which eventually leads to a deficiency of protein in our bodies. Lactose intolerance, a common problem with around 10 million cases per year, renders consumers with a nauseating feeling every time they consume any product which contains lactose. Soybean market takes center stage here as its product is gradually replacing the dairy industry by providing the exact same nutrients, while maintaining environment sustainability at the same time. According to the analyst at IndustryARC, the global soybean market is projected to grow with a noticeable CAGR of 4%-5% during the forecast period of 2019-2025. The market size was also valued between $148 billion to $150 billion during 2018. Asia Pacific leads the soybean market geographically with a regional share of 32%-34% as of 2018, owing to high consumption of soybean products in the East Asian countries.
Soybean Market Outlook:
Soybean is a legume of the pea family, and is a rich source of protein, and other essential nutrients. It is being highly appraised by vegans throughout the world for its quality to provide adequate amount of protein without hurting the environment in any way. 50% of a single soybean pea is supposed to contain protein, which is enough for vegetarian athletes who need amino acids for muscle repair. East Asian countries like Japan are counted as one of the healthiest countries in the world, and have been using soybean since time immemorial. They have solicited soybean’s use in their diets for a healthier lifestyle, and their active bodies. Soybean market has found its leading application in animal feed and pet food. This segment is expected to grow with a standard CAGR of 3.1%-4.2% during the forecast periods of 2019-2025.
Soybean Market Growth Drivers:
In a world that is gradually gravitating towards a vegan lifestyle, plant-based proteins like soybean will experience high demand. The world is also becoming fitter, and healthier which asks for a high protein content on our plates. Soybean is an excellent source of protein, while having a gamut of health benefits at the same time. It helps in maintaining our digestive health, and can be molded in different forms to be used in everyday dishes. Daily consumption of soy is credited with improved skin, and hair health.
Soybean is a rich source of amino acids, and is extremely beneficial for people suffering from lactose intolerance. These factors will drive the growth of soybean market.
Soybean Market Challenges:
Soybean cultivation in the Amazon is causing fast deforestation in the region, and receiving protest from all over the world. If cultivation continues on this scale, there will hardly be any land left to cultivate. Environment-friendly agriculture techniques, with a clear view of not causing deforestation are the best ways against this challenge.
Soybean Market Key Players Perspective:
According to Fuji Oil Group, one of the key market players in the soybean market, in the year 2017, 12.4% of their global sales revenue were procured from soybean and its products.
Some of the key market players in the soybean market are Kerry Inc., Fuji Oil Group, House Foods Group Inc, The WhiteWave Foods Company, E.I. du Pont de Nemours & Co., CHS Inc., Cargill Inc, The Scoular Company, and Archer-Daniels Midland Co.
Soybean Market Trends:
The Versatility of Soybean
Soybean is a near perfect replacement of dairy, which is why it has gained popularity amongst the lactose-intolerant consumers. Soybean market offers products such as soy milk, tofu, tempeh, silken tofu, and soy curd that can completely replace milk and its products in our daily lives. Resultantly, soybean dairy-like products will disrupt the market and define its direction in the upcoming few years.
Soybean Market Research Scope
Soybean market can be segmented on the basis of end use products, and application. Based on application, the market can be divided into animal feed, aqua feed, biofuel, food and beverages, personal care, dietary supplements, pharmaceuticals, lubricants, coatings, paints, industrial solvents, adhesives, hydraulic fluids, building materials, and others. End use products divides the market into whole soybean, fermented soy bean, non-fermented soy food, meal, and oil.
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the soybean market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of cheese in the soybean market, and their specific applications in different areas.
Soybean Market Report: Industry Coverage
The soybean market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Soybean Market Report
Is the market demand for Soybean growing? How long will it continue to grow and at what rate?
Which type of home security system presents the major growth opportunities?
Is there a possibility for change in the market structure over time?
Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
What are the short-term, long-term, and medium-term growth drivers for the market?
What are the short-term, medium-term, and long-term challenges for the market?
What are the short-term, medium-term, and long-term opportunities for the market
Who are the top players/companies of the market?
What are the recent innovations in the market?
How many patents have been filed by the leading players?
What are the types of patents filed by the leading players?
What is our Vision 2030 for Soybean market?
A Few Focus Points Of This Research Are Given Below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
- Provide an overview of the product portfolio, including product planning, development, and positioning
- Discuss the role of technology companies in partnerships
- Explore the regional sales activities
- Analyze the market size and giving the forecast for current and future global Soybean market during the forecast 2018–2023
- Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures