Market Research Report
Soybean Market Forecasts to 2028 - Global Analysis by Product (Whole Soybean, Meal, Oil and Other Products), Application and By Geography
|Soybean Market Forecasts to 2028 - Global Analysis by Product (Whole Soybean, Meal, Oil and Other Products), Application and By Geography|
Published: December 1, 2021
Stratistics Market Research Consulting
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According to Stratistics MRC, the Global Soybean Market is accounted for $163.86 billion in 2020 and is expected to reach $271.19 billion by 2028 growing at a CAGR of 6.5% during the forecast period. Preference for healthy food, increasing awareness of the health benefits of soybean, and high demand for soybean oil are the major factors propelling the market growth. However, environmental concerns are hampering market growth.
The soybean is one of the most important food plants of the world and seems to be growing in importance. It is an annual crop, fairly easy to grow, that produces more protein and oil per unit of land than almost any other crop. It is a versatile food plant that, used in its various forms, is capable of supplying most nutrients. It can substitute for meat and to some extent for milk. It is a crop capable of reducing protein malnutrition.
Based on the application, the food and beverages segment is projected to dominate the market during the forecast period. The expansion of soybean acreage and processing facilities worldwide will boost the production of soybean-based foods.
By geography, the Asia Pacific holds the largest share in the market during the forecast period due to increasing demand for quality food products and supplements, essentially due to a quickly growing population.
Some of the key players profiled in the Soybean Market include:Archer-Daniels Midland Co, Bunge Ltd., Cargill Inc, CHS Inc., E.I. du Pont de Nemours & Co., Fuji Oil Group, House Foods Group Inc, Kerry Inc., Louis Dreyfus Co. BV, Nestle SA, Olam International, The Scoular Company, The WhiteWave Foods Company, and Unilever Group.
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