Organic soybean are produced without using chemicals including fertilizers and pesticides. Soymeal meal is one of the major products derived from soybean which is used for direct consumption purpose owning to its high nutritional value. Soybean is high in protein and hence is most preferred among the rising population of health conscious consumers. Organic soybean is also now a days being highly used as a potential dairy substitute. Organic soybean oil consumption is also found to be escalating based on its high polyunsaturated and monounsaturated fatty acid content. Soy sauce also holds a significant share in soybean market and is highly consumed in the Asia Pacific region. Overall, mass population of consumers inclining towards health food consumption trends is also considered one of the major drivers for organic soybean market.
• Grain Millers Inc. (U.S.) • Perdue Farms (U.S.) • Tyson Foods Inc. (U.S.) • Pilgrim's Pride (U.S.) • Sapthsathi Organic Agriculture project (S.O.A.P.) (India) • Soni Soya Products Pvt Ltd (India) • AFG Brasil S/A (Brazil)
Key players are focused majorly on acquisition of small players to expand their business and penetrate the global organic soybean market. Expansion is also one of the key strategies followed by acquisition. Expansion will help in capturing the major market and increasing the production capacity to meet the rising demand from consumer’s end thereby further contributing to increasing revenue. Acquisition and expansions are evaluated to be contributing to more than 25% of strategy share and is facilitating the companies to penetrate the potential market across globe.
Market Forecast
Global Market for Organic Soybean have witnessed continued demand during the last few years and is projected to reach USD 2210.53 million by 2022. Developing economy and consumers’ adoption of sustainable development trends are likely to drive the organic soybean market share in the countries of the developed regions. Increasing disposable income and technological strides facilitating agricultural productivity are also likely to have a positive impact on its market growth.
Based on the application, food based application of organic soybean is expected to witness the highest growth rate (~18%) on a global level. Feed based application of organic soybean will hold a significant share and will also witness a steady growth during the given forecast period. Crush based application major portion of which goes in edible soybean products is likely to experience a high growth rate and is estimated to hold a market share during the given period.
Regional Analysis
Among the regions, Latin America will continue to dominate the organic soybean market with more than 40% of the market share and it is projected to reach more than USD 800 million by 2022. Asia Pacific will witness the highest growth rate (~18.25%) during the forecast period 2017-2022. Growing popularity of organic soybean owing to their potential applications in food industries as well as oil and feed industries are supporting their market growth on the global level. Rising health awareness and increasing disposable income have been playing a key role in the organic soybean growth from the last few years.
4 Global Conventional Soybean Market (2007-2015) 17
5 North America Conventional Soybean Market (2007-2015) 19
6 Latin America Conventional Soybean Market (2007-2015) 21
7 Europe Conventional Soybean Market (2007-2015) 23
8 Asia Pacific Conventional Soybean Market (2007-2015) 25
9 Middle East & Africa Conventional Soybean Market (2007-2015) 27
10 Global Organic Soybean Market (2007-2015) 29
11 North America Organic Soybean Market (2007-2015) 31
12 Latin America Organic Soybean Market (2007-2015) 33
13 Europe Organic Soybean Market (2007-2015) 35
14 Asia Pacific Organic Soybean Market (2007-2015) 37
Continued…..
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