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Soybean Meal Market Analysis - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Soybean Meal Market is Segmented by Application (Animal Feed, Food Industry, Beverage, and Health Care Product), and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa).

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Market Snapshot

soybean meal market
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 4.2 %

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Market Overview

The soybean meal market is projected to register a CAGR of 4.2% during the forecast period (2021-2026).

The covid-19 have positively impacted the market due to increase usage of soybean meal in the food & beverage industry and in the manufacturing of health care products. However, the decline in the meat demand around the globe and the closure of animal feed manufacturing units have slightly hindered the demand for soybean meal from the feed industry.

An 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. There is an increase in the global requirement of biodiesel as a major alternative for petrol and diesel. Biodiesel is produced using soybean; therefore, this, in turn, may fuel the growth of the soybean meal market during the forecast period.

China is the largest soybean meal-producing country, with a capacity of 78.4 million metric ton, followed by the United States with 46.9 million metric ton in 2020. 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.

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.

Application
Animal Feed
Food Industry
Beverage
Health Care Products
Geography (Production Analysis (Volume), Consumption Analysis (Value & Volume), Import Analysis (Value & Volume), Export Analysis (Value & Volume) and Price Trend Analysis)
North America
United States
Canada
Mexico
Europe
Spain
Croatia
France
Germany
Russia
Asia- Pacific
India
China
Bangladesh
South America
Brazil
Argentina
Uruguay
Middle East & Africa
South Africa
Egypt

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Key Market Trends

Increasing Demand for Protein-enriched Food for both Humans and Animals

Soybean meal has a unique composition of amino acids and can be used as an alternative for cereal proteins. Thereby soybean meal is used in both animal feed and human food industries. The main reasons behind the increasing demand for soybean meal include the health benefits associated with this protein-enriched food and the increasing population of livestock, cattle, ruminants, and other animals that are fed by 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. This is further expected to enhance the market for soybean meal during the forecast period.

soybean meal market1

Asia-Pacific Dominates the Market

Asia-Pacific is the dominant region in the soybean meal market, holding the major share of the market. China, India, Bangladesh, Thailand, Pakistan, Japan are the major producers of Soybean meal in the region. According to the USDA, soybean meal production is increased from 69.69 million metric tons and 7.2 million metric tons in 2016-2017 to 78.41 million metric tons and 7.6 million metric tons in 2020-2021 in China and India respectively. The soybean meal is majorly consumed by the animal feed industry in the region. In the Europe, soybean meal is widely used in the larger varieties of products like bakery products, health food, cosmetics, and in the manufacturing of antibiotics. These attributes the for the demand of regional soyabean meal in the Europe and this enhances the growth of the exports market during the study period.

Soybean Meal Market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Market Definition & Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Value Chain Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Animal Feed

      2. 5.1.2 Food Industry

      3. 5.1.3 Beverage

      4. 5.1.4 Health Care Products

    2. 5.2 Geography (Production Analysis (Volume), Consumption Analysis (Value & Volume), Import Analysis (Value & Volume), Export Analysis (Value & Volume) and Price Trend Analysis)

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

      2. 5.2.2 Europe

        1. 5.2.2.1 Spain

        2. 5.2.2.2 Croatia

        3. 5.2.2.3 France

        4. 5.2.2.4 Germany

        5. 5.2.2.5 Russia

      3. 5.2.3 Asia- Pacific

        1. 5.2.3.1 India

        2. 5.2.3.2 China

        3. 5.2.3.3 Bangladesh

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Uruguay

      5. 5.2.5 Middle East & Africa

        1. 5.2.5.1 South Africa

        2. 5.2.5.2 Egypt

  6. 6. MARKET OPPORTUNITIES AND FUTURE TRENDS

  7. 7. IMPACT OF COVID-19 ON THE MARKET

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Frequently Asked Questions

The Soybean Meal Market market is studied from 2016 - 2026.

The Soybean Meal Market is growing at a CAGR of 4.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

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