Pune, India -- (SBWIRE) -- 12/24/2018 -- Market Analysis:
The global organic soybean market has witnessed continued demand during the last few years and is projected to reach USD 2210.53 million, globally by 2022. High demand for organic soybean for food consumption purpose based on its high nutritional properties are driving the global organic soybean market. Increasing health awareness and beneficial properties of soybean are expected to influence the organic soybean market, positively. One of the major applications of organic soybean is production of soybean oil and that is estimated to contribute to the positive growth of this market. In addition, diverse application of the product across various industries is anticipated to propel the growth of this market.
By 2022, based on application, crush based application of soybean for food and animal feed will dominate the market and is evaluated to account for a share of more than 70% in the global market. Animal feed-based application of organic soybean is evaluated to grow at a CAGR of more than 15% during the given forecast period. Application of unused soybean crush for animal feed is also one of the major applications driving the market for organic soybean on a global level. Application of uncrushed soybean for direct consumption is also projected to hold a significant share in the global organic soybean market.
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Major Key Players Trend:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major organic soybean market players. It further includes product portfolios, developments of leading major players, which includes:
Some of the leading players in the Global Organic Soybean Market are Soni Soya Products Pvt Ltd (India), AFG Brasil S/A (Brazil), Sapthsathi Organic Agriculture project (S.O.A.P.) (India), Grain Millers Inc. (U.S.), Perdue Farms (U.S.), Tyson Foods Inc. (U.S.), Pilgrim's Pride (U.S.)
Key Findings:
Global Organic Soybean market is projected to reach USD 2210.53 million by 2022 at a growth rate of 17.71%
Asia Pacific will experience the highest growth at a rate of 18.25% during the given forecast period
Application of organic soybean for food use is projected to have the highest growth rate of 18.68%
By Downstream Analysis:
By 2022, organic soybean will reach a market value of USD 2210.53 Million on a global level. Potential applications of organic soybean in food and feed industries have a positive impact on its market share growth. Based on the application, crush based food and feed application of soybean will experience the highest growth rate of more than 70% during the given period. However, feed use of organic soybean will also hold a significant share of more than 5% in the global market.
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Regional Analysis:
Among the regions, Latin America will continue to dominate the organic soybean market with more than 40% of the market share and it is projected to reach more than USD 800 million by 2022. Asia Pacific will witness the highest growth rate (~18.25%) during the forecast period 2017-2022. Growing popularity of organic soybean owing to their potential applications in food industries as well as oil and feed industries are supporting their market growth on the global level. Rising health awareness and increasing disposable income have been playing a key role in the organic soybean growth from the last few years.