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Soybean Meal Market - Growth, Trends, and Forecast (2022 - 2030)
SKU ID : INH-14244503 | Publishing Date : 01-Apr-2019 | No. of pages : 154
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Market Overview
The soybean meal market was valued at USD 88.2 billion in the year 2018, and the market is projected to register a CAGR of 4.2%, to reach a value of USD 112.6 billion in the year 2024.
China is the largest soybean meal producing country, with a capacity of 75.2 million metric ton, followed by the United States with 42.2 million metric ton in 2017. The major importers of soybean meal are Vietnam, Belgium, Spain, and other countries. The major exporters are the United States, Italy, India, and other countries. Increase in demand for high quality protein in soybean will continue to drive higher demand for soybean meal, mainly from the animal feed industry over the forecast period.
Scope of the Report
Soybean meal is the byproduct left after extracting the oil from soybeans. Soybean meal is generally of two categories, which are high protein soybean meal with 47% - 49% protein and 3% fiber, which is obtained from dehulled seeds, and conventional soybean meal with 43% - 44% protein with hulls. Soybean meal market is segmented by application and geography. Soybean meal is used in the animal feed, food industry, beverage and healthcare products.
Key Market Trends
Increasing Demand for Protein-enriched Food for both Humans and Animals
Soybean meal is one of the most important sources of protein. This protein has a unique composition of amino acid and can be used as an alternative for cereal proteins. So, soybean meal is used to feed animals and humans. The main reasons behind the increasing demand for protein-enriched foods are its health benefits and the number of livestock, cattle, ruminants, and other animals that are fed soybean meal. The other reason for the increase in demand is the restrictions placed on slaughterhouse by-products, which in turn, has increased the market for soybean meal.
Asia-Pacific to Dominate the Market
Asia-Pacific dominated the soybean market, globally, with a share of more than 40% in the year 2018. China holds a lion's share in terms of soybean meal consumption in the Asia-Pacific region, with ~77% in the year 2018. China depends on soybean meal, largely with the animal feed industry being a major end-user. With the rise in import tariffs, alterations have been made in terms of rationing of protein levels in animal diets, which will continue to affect the soybean meal market largely.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
The soybean meal market was valued at USD 88.2 billion in the year 2018, and the market is projected to register a CAGR of 4.2%, to reach a value of USD 112.6 billion in the year 2024.
China is the largest soybean meal producing country, with a capacity of 75.2 million metric ton, followed by the United States with 42.2 million metric ton in 2017. The major importers of soybean meal are Vietnam, Belgium, Spain, and other countries. The major exporters are the United States, Italy, India, and other countries. Increase in demand for high quality protein in soybean will continue to drive higher demand for soybean meal, mainly from the animal feed industry over the forecast period.
Scope of the Report
Soybean meal is the byproduct left after extracting the oil from soybeans. Soybean meal is generally of two categories, which are high protein soybean meal with 47% - 49% protein and 3% fiber, which is obtained from dehulled seeds, and conventional soybean meal with 43% - 44% protein with hulls. Soybean meal market is segmented by application and geography. Soybean meal is used in the animal feed, food industry, beverage and healthcare products.
Key Market Trends
Increasing Demand for Protein-enriched Food for both Humans and Animals
Soybean meal is one of the most important sources of protein. This protein has a unique composition of amino acid and can be used as an alternative for cereal proteins. So, soybean meal is used to feed animals and humans. The main reasons behind the increasing demand for protein-enriched foods are its health benefits and the number of livestock, cattle, ruminants, and other animals that are fed soybean meal. The other reason for the increase in demand is the restrictions placed on slaughterhouse by-products, which in turn, has increased the market for soybean meal.
Asia-Pacific to Dominate the Market
Asia-Pacific dominated the soybean market, globally, with a share of more than 40% in the year 2018. China holds a lion's share in terms of soybean meal consumption in the Asia-Pacific region, with ~77% in the year 2018. China depends on soybean meal, largely with the animal feed industry being a major end-user. With the rise in import tariffs, alterations have been made in terms of rationing of protein levels in animal diets, which will continue to affect the soybean meal market largely.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
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