The Business Research Company’s report on the Soybean Meal Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the soybean meal industry?
The increasing demand for protein-rich animal feed is expected to drive the growth of the soybean market going forward. Protein-rich animal feed is a type of animal feed that contains high levels of protein to support growth, reproduction, and overall health in livestock and poultry. The growing global population, rising meat consumption, and the need for efficient livestock production are driving the increasing demand for protein-rich animal feed. Soybean meal is required for protein-rich animal feed because it provides a high-quality, cost-effective source of protein and essential amino acids crucial for livestock and poultry’s growth, development, and health. For instance, in October 2023, according to the Foreign Agricultural Service, a US-based foreign affairs agency, soybean meal exports hit a record high of approximately 13.2 million metric tons in the marketing year 2022/2023 (October-September), with a value nearing $7 billion. In the 2023/2024 marketing year, U.S. soybean meal exports are projected to reach another record, increasing to 13.9 million metric tons. Therefore, increasing global demand for protein-rich animal feed is driving the growth of the soybean market.
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What is the estimated market size of the soybean meal sector by 2029, based on current forecasts?
The soybean meal market size has grown strongly in recent years. It will grow from $100.36 billion in 2024 to $107.04 billion in 2025 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to increasing livestock production, growth in biofuel production, rise in dairy production, growth in soybean farming, and increasing investment in agriculture.
The soybean meal market size is expected to see strong growth in the next few years. It will grow to $136.5 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to growing global population, increasing global demand for protein-rich animal feed, increasing adoption of sustainable and efficient livestock farming practices, rising global demand for animal feed, and increasing meat consumption. Major trends in the forecast period include technological advancements, plant-based diets, organic farming, digital technologies, and feed management systems.
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Who are the top players in the soybean meal market?
Major companies operating in the soybean meal market are Cargill Incorporated, Archer Daniels Midland Company, Mitsui & Co Ltd., Wilmar International Limited, Marubeni Corporation, Bunge Limited, Viterra, CHS Inc., Louis Dreyfus Company, Granol Industria, Ajinomoto Co Inc., Ingredion Incorporated, Denofa, COFCO Corporation, Ajanta Soya Limited, Vippy Industries Limited, Shandong Heduoduo Biotechnology Co Ltd., Riceland Foods Inc., Minnesota Soybean Processors, Titan Biotech Limited, Nordic Soya, Yihai Kerry Investments Co Ltd., Eco Export, Gauri Agrotech Products Private Limited
What are the major trends in the soybean meal market?
Major companies operating in the soybean meal market are focused on developing innovative products, such as traceable soy products, to ensure sustainability and improve the overall efficiency of the soybean supply chain from farm to end destination. A traceable soya product is a soybean-based item for which the origin and supply chain can be tracked and verified from production to final consumption. For instance, in July 2024, Archer-Daniels-Midland Company, a US-based food processing and commodities trading corporation, launched fully traceable soybean meal and oil. This initiative is part of ADM’s resource program, which has enlisted over 5,300 North American farmers to ensure sustainable sourcing of soybeans, enabling traceability throughout the entire supply chain. The program leverages innovative technology, including the FBN Gradable digital platform, alongside ADM’s origination and transportation capabilities, to verify, trace, and segregate soybeans from the farm to the final destination.
Which geography holds the highest soybean meal market share?
Asia-Pacific was the largest region in the soybean meal market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the soybean meal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of the soybean meal market?
The soybean meal market covered in this report is segmented –
1) By Type: Food Grade; Industrial Grade
2) By Source: Organic; Conventional
3) By Form: Powder; Oil; Granular
4) By Sales Channel: Offline; Business To Business (B2B); Online
5) By Applications: Food Products; Beverages; Healthcare Products; Dietary Supplements; Animal Feed; Other Applications
Subsegments:
1) By Food Grade: Non-GMO Food Grade Soybean Meal; Organic Food Grade Soybean Meal; Conventional Food Grade Soybean Meal
2) By Industrial Grade: Feed Grade Soybean Meal; Biofuel Production Soybean Meal; Soybean Meal For Industrial Applications
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What defines the structure and scope of the soybean meal market?
Soybean meal is a byproduct of soybean oil extraction, produced after soybeans are crushed to remove the oil. It is commonly used as a high-protein feed ingredient for livestock, poultry, and aquaculture due to its rich protein content and essential amino acids. Soybean meal can also be used in human food products and various industrial applications.
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