Organic soymeal are manufactured with the help of organically grown soybean. Soymeal meal is one of the major products derived from soybean which is used for direct consumption purpose owning to its high nutritional value. Soymeal is high in protein and hence is most preferred among the rising population of health conscious consumers. Organic soymeal is also now a days being highly used as a potential protein supplement is widely consumed all around the globe. Soy derived chemical free food products also holds a significant share in soymeal 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 soymeal market.
Competitive Analysis
The major key players in organic Soymeal are
• Grain Millers Inc. (U.S.) • Perdue Farms (U.S.) • Tyson Foods Inc. (U.S.) • Sapthsathi Organic Agriculture project (S.O.A.P.) (India) • Soni Soya Products Pvt Ltd (India) • AFG Brasil S/A (Brazil) • Pilgrim's Pride (U.S.)
Key players are focused majorly on acquisition of small players to expand their business and penetrate the global organic soymeal 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 35% of strategy share and is facilitating the companies to penetrate the potential market across globe.
The global market for organic soymeal have witnessed continued demand during the last few years and is projected to reach USD 623.31 million by 2022. Developing economy and consumers’ adoption of sustainable development trends are likely to drive the organic soymeal market share in the countries of the developed regions. Higher inclination of consumes towards chemical-free protein supplements has a positive impact on this market. 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, share of soymeal as food for human consumption is expected to witness the highest growth rate (~18%) on a global level. Food based application of organic Soymeal will hold a significant share and will also witness a steady growth during the given forecast period. Feed based application also holds a significant share and is likely to experience a high growth rate during the given period.
By Downstream Analysis
By 2022, organic soymeal will reach a market value of USD 623.31 million on a global level. Potential applications of organic soymeal in food and feed industries have a positive impact on its market share growth. Based on the application, food based application of soymeal will experience the highest growth rate and will account for a market share of more than 95% during the given period. However, feed use of organic soymeal is also projected to have a high growth rate and is evaluated to escalate holding a prominent share during the same period.
Among the regions, Asia Pacific will dominate the organic soymeal market with more than 35% of the market share and it is projected to reach more than USD 200 million by 2022. Latin America will witness the highest growth rate (~18.25%) during the forecast period 2017-2022. Growing popularity of organic soymeal owing to their high protein value and consumption as protein supplement is supporting its market growth on the global level. Rising health awareness and increasing health concerns have been playing a key role in the organic soymeal growth from the last few years
