Soybean, as it is called in North America, is a legume species native to East Asia. Its genus is Glycine Wild, and its species is Glycine max. It is grown mainly for its edible bean- that finds many applications.
One of these is in animal feed. This is because it is a cheap source of protein (38-45% protein content), in addition to phytic acid, dietary minerals, and vitamin B. Its oil content is high as well (approximately 20%).Soybean is also used in packaged meals. Many soybean products are ingredients in meat and dairy substitutes. Soybean crop can be processed to make soy vegetable oil- used in the food industry. The most common food application is soy milk- that can be used to make tofu and tofu skin.
The soybean industry is expected to witness an increase of 10.1% in two years- owing to the rise in global demand. This demand can be attributed to the growing awareness about its health benefits. Research for developing new products to satisfy that demand is being done.
Soybean can be a genetically modified food crop- that finds its use in a variety of products. Versions of soybean have been developed to make them herbicide resistant. But this has been opposed saying that it can damage biodiversity. This has also led to the decline in exports of the crop- due to extensive certification required to legally get imported into the European Union. A United States Department of Agriculture report, in 2006, found that the adoption of genetically modified crops did reduce the amount of pesticides used, but the amount of herbicides was greater.Market Dynamics
Global soybean production is set to increase by 5%. Largest producers include the United States, Brazil and Argentina. Total annual production of soybean is about 210-230 million tonnes. Major demand drivers include the growing awareness about the health benefits of soybean, and its less-calorie count, its lactose tolerance versus the dairy products, many variants being produced for enhanced flavor and consumption, its low price.Market Segmentation
The market can be segmented on the various bases as follows:
o Protein isolates: 90% protein content
o Soy protein concentrates: 70% protein content
o Soy flour: 50% protein content
o North America
o Western Europe
o Asia Pacific
o Rest of the World
--> Ingredient type
o Soy meal
o Soy oil
o Soy additives
o Bakery and confectionary
o Meat products
o Infant foods
o Animal feed
Animal feed has the largest market segment, depending upon revenue. The share is also forecasted to expand at a healthy rate. The soy meal segment account for the largest share in the soy derivatives market, followed by soy oil.
The key geographical segments of the soybean market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Various reasons can be associated for the forecasted growth in the Asia Pacific region in the coming years. Some are the growing population- which is getting increasingly health conscious, developing economies, and rising awareness about the high protein content of soybean. Moreover, the animal feed segment is prominent in the region- that is also growing at an exponential rate. That said, a large per cent of the standard-compliant soy comes from Latin America, that too- mostly from Brazil.Key Players
The prominent players in the Global Soybean Market include the following:
--> Archer-Daniels Midland Co.
--> Cargill Inc.
--> CHS Inc.
--> E.I. du Pont de Nemours & Co.
--> Fuji Oil Group
--> House Foods Group Inc.
--> Kerry Inc.
--> The Scoular Company
--> The WhiteWave Foods CompanyReport Contents
> Market segments
> Market Drivers, Restraints and Opportunities
> Market Size & Forecast 2016 to 2022
> Supply & Demand Value Chain
> Market - Current Trends
> Competition & Major Companies
and R&D Status
> Porters Five Force Analysis
> Strategic and Critical Success Factor Analysis of Key PlayersRegional Analysis:
> North America
>> US and Canada
> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
> Eastern Europe
>> Rest of Eastern Europe
> Asia Pacific
>> Australia and New Zealand
>> Rest of Asia Pacific
> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.Report Highlights:
> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
> Consumer and Pricing Analysis
> Market dynamics of the industry
> Market Segmentation
> Estimated Market Sizing in terms of volume and value
> Recent trends in Market and impact
> Research Status and Technology
> Extensive Industry Structure Coverage
Publisher Name : Market Litmus