Global Organic Soymeal Market Overview
The Organic Soymeal Market is poised to witness substantial growth, registering a Compound Annual Growth Rate (CAGR) of 14.56%, with an estimated value reaching USD 823.7 Million by 2030. This surge is attributed to the escalating demand for organic ingredients, marking a steady pace of development on the global stage. Market Research Future, specializing in market reports related to the Food, Beverages & Nutrition sector, forecasts in its report titled “Global Organic Soymeal Market Research Report – Forecast to 2030” that the Organic Soymeal market will exhibit an exceptional CAGR of 14.56%.
Soymeal, a prominent product derived from soybeans, is widely used for direct consumption due to its high nutritional value. Organic soymeal, crafted from organically grown soybeans, is gaining popularity, especially among health-conscious consumers, as it is rich in protein. The rising demand for organic soymeal, utilized as a protein supplement globally, reflects the growing preference for health-oriented food consumption trends. Furthermore, soy-derived chemical-free food products hold a substantial share in the soymeal market, particularly in the Asia Pacific region.
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The high demand for organic soymeal for human consumption, driven by its nutritional properties, serves as a significant driver for the global market. The increasing awareness of health benefits associated with soymeal is expected to positively influence the organic soymeal market. Moreover, the application of organic soymeal in the production of natural and chemical-free pet feed contributes to its positive growth. Diverse applications across various industries are anticipated to propel the market further.
However, the transition from traditional farming methods to organic farming has been slow, affecting the demand for organic foods. The industry is witnessing a change in food trends, with increased adoption of international food forms encouraging the consumption of organic soymeal.
Latest Industry Updates:
- In November 2020, China’s Dalian Commodity Exchange (DCE) urged regulators to approve the launch of soybean meal options, expanding its agricultural product offerings.
- In January 2020, The National Commodity and Derivatives Exchange Ltd. (NCDEX), India’s leading commodity exchange, commenced trading in soybean meal, aiming to expand its product range.
- In April 2020, Algar Agro and Ibersan (part of CCPA group) signed a partnership to launch soybean bran with a by-pass effect, targeting the ruminant feed market.
Global Organic Soymeal Market – Competitive Analysis:
The certification process for organic soymeal has limited product launches due to its complexity. Major companies are investing in research and development to maintain a competitive advantage. Acquisitions of small players are a key focus for major players, facilitating business expansion and market penetration.
Leading market players in the global organic soymeal market include Sapthsathi Organic Agriculture Project (India), Soni Soya Products Pvt Ltd (India), AFG Brasil S/A (Brazil), Grain Millers Inc. (U.S.), Perdue Farms (U.S.), Tyson Foods Inc. (U.S.), Pilgrim’s Pride (U.S.).
Global Organic Soymeal Market – Segments:
The global organic soymeal market outlook is segmented based on application and region.
On The Basis Of Application:
- Human Food
- Animal Feed
On The Basis Of Region:
- North America
- Europe
- Asia Pacific
- ROW
Global Organic Soymeal Market – Regional Analysis:
The global organic soymeal market is divided into North America, Europe, Asia Pacific, and the rest of the world (RoW). Asia Pacific is expected to dominate the market, accounting for over 35% of the market share, reaching more than USD 200 million by 2030. Latin America is projected to witness the highest growth rate (~18.25%) during the forecast period 2022-2030. The growing popularity of organic soymeal, driven by its high protein value and consumption as a protein supplement, supports its global market growth. Increasing health awareness and concerns contribute significantly to the growth of the organic soymeal market in recent years.
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