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Global Soybean Market to Grow at a CAGR of 1.3% between 2022 and 2027.

According to a new report by EMR titled, 'Global Soybean Market Report and Forecast 2022-2027', the global soybean market reached a volume of 367 million metric tons in 2021. The market is further expected to grow at a CAGR of 1.3% in the forecast period of 2022-2027 to reach a volume of 396 million metric tons by 2027.

The global soybean market based on production is led by the United States, accounting for about 35% share of the global output. The country is followed by Brazil, China, Argentina, and India as the largest producers of soybean. The soybean market in India is expected to witness a healthy growth in the coming years due to import restrictions on refined palm oil and palm olein from Malayasia imposed in January 2021. Thus, directing India towards increasing the imports of soybean and sunflower oils.

Soybean, variously known as soya bean, is an edible seed of the pea family (Fabaceae) and an annual legume. Soybean is the most important bean in the world, as it provides plant protein to millions of people, along with supplying ingredients for a lot of chemical products. Consumption of soya beans contains phytic acid, B vitamins, and other dietary minerals. Soybean gives soya vegetable oil as a processed product, which extensively used in food as well as industrial applications. Also, soybean is an important source of protein for livestock feed, which further provides animal protein for human consumption.

Archer Daniels Midland Company (NYSE: ADM) and Cargill Incorporated are some of the leading producers of soybean oil. In July 2018, both the companies completed their agreement and officially launched SoyVenTM, their new joint venture, to cater to the soybean meal and oil demands from the customers in Egypt. SoyVen is situated in Borg Al-Arab, and it owns and operates the National Vegetable Oil Company soy crush facility, in conjunction to related commercial and functional activities, such as a distinct Switzerland-based entity supplying soybeans to the Egypt crush plant.

Market Analysis by Application and Region:

  • The market is divided based on application into crush, feed use, and food use.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global soybean market is driven by the crushing industry, where the extraction of soy meal and soy oil takes place. 
  • The thriving animal feed industry, as well as the increasing applications in various industries, such as oleochemicals, biodiesel, and food industries, are boosting the market growth.
  • The increasing awareness about the health benefits of soybean as it offers a healthy alternative to cholesterol and fat-rich food is further enhancing the market for soybean.
  • The growing shift towards soybean-based snack and food products such as soy chocolate nuts and soy crisps are propelling the market growth further.
  • The growing market for adhesives, candles, insecticides, printing inks, waxes, plastics, etc., are accelerating the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global soybean market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the application and regional markets of soybean.
  • It gives an in-depth look at the regional price trends in the global soybean market for the periods (2017-2021) and (2022-2027).
  • It analyses the global trade data, looking into the value and volume of the significant importing as well as exporting countries.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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