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Soybean Market is Projected to Reach US$215.746 Bn by 2025, Says TMR
- 05 Feb, 2019
- United States
The global soybean market appears to have a fragmented competitive scenario with large number of players reigning, says a report by well-known market research firm, transparency Market Research. Emergence of several new players in both, global and regional market has surged the competition all across the globe. So as to achieve a competitive edge over the other firms, the players in the market are concentrating to manufacture and launch new products of soybean so as to expand their product offerings to the customers. The major players operating in the market include House Foods Group Inc., Fuji Oil Group, E.I. du Pont de Nemours & Co., Cargill Inc., CHS Inc., The Scoular Company, Kerry Inc., The WhiteWave Foods Company, and Archer-Daniels-Midland Co.
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According to TMR, The global soybean market is likely to expand at a strong CAGR of 5% within the forecast period from 2017 to 2025. In 2017, the market was valued to be around worth of US$146.23 bn, and is expected to reach a value of worth US$215.746 bn by the end of forecast period, 2025.
On the basis of end use, the global soybean market is classified into personal care, food and beverages, pharmaceuticals, dietary supplements, and animal feed. Out of these, the animal feed segment holds that maximum market share for soybean in the present scenario. In the span of coming years, the segment is anticipated to increase at a strong pace and sustain its lead. Geographically, Asia Pacific is foreseen to account for major share and emerge as a leading region in global soybean market. This is owing to the increasing demand for better quality food supplements and products, along with the increase in overall population.
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Cancer Fighting Ability to Fuel Market Demand
Soybean is known to be rich in nutrients. It helps solid weight gain by enhancing digestion, which keeps up better stomach related soundness of body in animals and human as well. The increasing disease with respect to medical advantages of soybean is fueling the soybean market. Furthermore, soybean has numerous health advantages including protecting tumor, lessening effect of menopause, benefits of reducing the risks of heart ailments, keeping up the bone strength, and decreasing the birth defects. These preferences and rising learning among shoppers about the equivalent are escalating the soybean market.
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Increased Usage in End-Use Sector to Propel Growth
The global soybean market is basically experiencing a magnificent development inferable from broad efforts taken by unmistakable organizations to make top notch soybean items. With a rising attention to the medical advantages of soybean, a surge in the demand for related items is fueling the mentioned market to observe marvelous development. Soybeans have increasing applications in different end use fragments, subsequently containing a colossal market space everywhere throughout the globe. From a usual point of view, the global soybean market is prophesized to develop significantly as organizations are foreseen to produce first class quality items.
Nevertheless, ready protein supplements items are picking up pace in the market. Demand for these items is a noteworthy risk to the soybean market.
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The review is based on the findings of a report by Transparency Market Research, titled "Soybean Market (Source - Conventional and Organic; End Product - Whole, Protein, Oil, and Meal; End Use - Food and Beverages, Personal Care, Dietary Supplements, Pharmaceuticals, and Animal Feed) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025."
Global Soybean Market, by Source
Global Soybean Market, by End Products
Global Soybean Market, by End Use
- Food and Beverages
- Personal Care
- Dietary Supplements
- Animal Feed
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SOURCE Transparency Market Research
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