Soybean meal is the highly nutritive meal for the farm animals, it is used as a feed for the farm animals like chicks, horse, sheep, pig, and fish. It has high protein content which is important for the health of the animals, it is the most used feed for livestock. It has been used as a standard for comparing the protein content of food products. It is approved in the United States as an ideal feed for livestock and its production has increased due to control over slaughterhouse by-product as feed and encouraged the use of soybean meal due to high protein content it has and thus, increase in demand as protein-rich source for livestock feed. Soybean meal market is forecasted to grow at the significant growth rate over near future due to its extremely high protein content which is around 47-49% of protein content and other nutritional contents like crude fiber.
Soybean meal market Segmentation
Soybean meal is segmented on the basis of the raw material as Organic and inorganic. Due to rising health concerns people are preferring organic soybean meals as organic products are good for health.
Soybean meal market is segmented on the basis of process of production as normal soybean meal, De-hulled [min 50% protein] Hipro Soybean meal, and De-hulled [min. 48% protein] Hipro Soybean meal, Defatted soya flour toasted, and de-fatted soya flakes toasted are available in the market. Normal soybean meal has low protein content than the De-hulled soybean meal which has around 45-46% of crude protein content. Hulls are by-product, therefore, are removed as they have no place in human food but are used for ruminants.
Soybean meal is segmented on the basis of application in food industry, beverage, dietary supplements, and healthcare products. In food market segment soymeal can be used for making soy-chunks and soy-granules. Flour of deflated soy is used to make nutritious biscuits. Isolates of protein from soymeal are used as protein drinks. Product from soymeal are healthy and nutritious thus market demand from food and beverage market segments is high. In healthcare products market segment, soymeal is used to make products having isoflavones which have chemical similarity to estrogen. Demand from dietary supplement market segment is higher as soymeal is used to make calcium, magnesium, iron, and folic acid rich supplements.
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Soybean meal is segmented on the basis of distribution channel as supermarket, specialized stores, online stores and retail stores. Online stores are the most preferred mode of shopping for consumer and manufacturer as it is comfortable for both. Supermarkets also have gained good consumer base in last 10 years and are expected to grow at a significant rate.
Soybean meal market: Regional Outlook
Soybean meal market is segmented into five key regions as North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. In Asia-Pacific region, China and India are the biggest producer of soybean meal. In the North American region United States is the major producer of soybean is followed by European Region countries like Argentina and Brazil. The Soybean meal is exported all over the world as it is majorly used as livestock as feed and is also consumed by humans as a protein packed vegetable food source. Soybean market is expected to grow at the high rate and gain good revenue during the forecast period of 2017-2027.
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Soybean meal market: Drivers and Trends
Soybean meal is forecasted to generate extremely good revenue during the period of 2017-2027 as it is packed with abundant protein content. It can be used as food for humans and livestock, used in healthcare products, and in the preparation of protein drinks. Owing to rising demand of soybean meal for the manufacture of protein supplements and feed for the livestock at high rate manufacturers are manufacturing and launching various new products of soybean meal having improved content of protein. These factor the key drivers of this market and the demand is expected to increase with every passing year. To match the increased demand manufacturers are making their strategies to stay the key player. Producing soymeal at a high rate due to the increasing demands is a restraint for the soybean meal market as production is limited. Increasing pet trend and pet health segment is another factor driving market demand for soybean meal market.
Soybean meal market: Key Players
The global key players identified during the global soybean meal market analysis are Gauri agrotech products pvt. ltd., Vippy Industries Ltd, Bonne vie soybean meal, Mukwano group, Ghana Nuts Company limited, and Granol. These are the biggest soybean meal key players who are manufacturing good quality of soybean meal for feed for livestock and food for humans. New market player entries are expected in the global soybean meal market, due to increasing demand from different segments.
TMR has followed the C19-TREND approach for conducting a comprehensive analysis on the trends and changes in the food and beverage sector due to the COVID-19 outbreak. Each factor is analyzed with scrutiny. These points have been compiled in the report and will assure great assistance to the stakeholders and CXOs in developing sound business strategies.
Some C19-TRENDs that TMR has focused upon while analyzing the food and beverage sector are as follows:
With the COVID-19 outbreak limiting the number of traveling and dining opportunities for individuals, many opt to experience the fun of a restaurant or destination at the comfort of their homes. Ready-to-drink beverages are being focused upon to enable the consumers to feel the vibe of a particular destination. This aspect will churn exponential growth.
A good immunity can help individuals tackle COVID-19 with ease. Many consumers are switching to immunity-boosting food and beverage items for improving their resistance against further infections. Many well-established players are paying attention on launching immunity-rich food and beverage products. This factor will attract promising revenues.
Strengthening of Home Delivery Mechanisms
Restaurants and food chains were closed for a substantial time during the lockdown period. Thus, home delivery of food products, eatables, and groceries became the new norm. Many people still prefer home delivery due to the fear of not venturing out. Home deliveries will play a crucial role in increasing the growth opportunities across the horizon of the food and beverages sector.
These are the major trends that will influence the growth of the food and beverage industry considerably. Although, the food and beverage sector was exempt from the lockdown restrictions, many cases of supply chain disruptions were observed. With mass vaccination drives and certain relaxations in restrictions, the supply chain disruptions will be minimized extensively.
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