Global Soybean Processing Market Size 2024, Forecast To 2033
6 Mar, 2024
The soybean processing market has undergone robust growth, rising from $84.91 billion in 2023 to $91.79 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 8.1%. The growth observed in the historical period is attributed to the impact of the industrial revolution, a surge in protein demand, increased health and nutrition awareness, agricultural policies, and economic shifts. Looking forward to the future, the soybean processing market is poised for continued strong growth, projecting a market size of $127.34 billion in 2028, with a CAGR of 8.5%. Contributing factors in the forecast period include the growing global population, the rise in plant-based alternatives, sustainability initiatives, shifts in consumer preferences, and the dynamics of international trade. Major trends include clean label preferences, innovation in functional foods, advancements in processing methods, and sustainable agriculture practices.
Global Soybean Processing Market Key Driver
The soybean processing market is poised for growth due to the increasing prevalence of diseases like obesity. Obesity, characterized by abnormal or excessive fat buildup, poses health risks and is a focus for prevention through soybean processing. Experimental models have shown that soy protein can prevent or decrease body fat formation and improve insulin resistance in cases of obesity. In July 2022, data from the Office for Health Improvement and Disparities in the UK revealed that 25.3% of individuals aged 18 and above were obese from November 2020 to November 2021. Furthermore, a January 2023 survey report from the UK Parliament indicated that 25.9% of people in England were obese, with an additional 37.9% being overweight but not obese. The prevalence of diseases like obesity emerges as a significant factor driving the soybean processing market forward.
Get A Free Sample Of The Global Soybean Processing Market ReportGlobal Soybean Processing Market Segments
The soybean processing market covered in this report is segmented –
1) By Product: Whole Soybean, Meal, Oil, Other Products
2) By Source Type: Conventional, Genetically Modified Organisms, Non-Genetically Modified Organism, Organic
3) By Distribution Channel: Online Distribution, Offline Distribution
4) By Application: Animal Feed, Aqua Feed, Biofuel, Food And Beverages, Personal Care, Other Applications
By Geography:The regions covered in the soybean processing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the soybean processing market in 2023. The regions covered in the soybean processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Soybean Processing Industry Players
Archer-Daniels-Midland Company, DuPont de Nemours Inc., CHS Inc., The Scoular Company, Fuji Holdings Corporation, Batory Foods Inc., Nutra Food Ingredients LLC, Osage Food Products Inc., Bunge Limited, Cargill Incorporated, Wilmar International Ltd., Kerry Group plc, Crown Soya Protein Group Company, Foodchem International Corporation, Louis Dreyfus Company B.V., AG Processing Inc., Sodrugestvo Group of Companies, Noble Group Limited, Aceitera General Deheza S.A., Marubeni Corporation, Richardson International Limited, COFCO International, J-Oil Mills Inc., Ruchi Soya Industries Limited, The Andersons Inc., Green Plains Inc., Buhler Industries Inc., Clarkson Grain Company Inc., Consolidated Grain and Barge Co., Delong Co. Inc.
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Soybean Processing Market Overview
Soybean processing is the processing of soybeans, which involves successive steps to extract various different forms of soybean, they are cleaned, dried, cleaned once more, cracked, and dehulled. Soybean processing is used for drying, roasting, grinding, pressing and panelling of soybeans which can be used in various forms and in various industries.
Soybean Processing Global Market Report 2023 provides data on the global soybean processing market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The soybean processing market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.