Soybean Processing Market is estimated to reach US$256.54 billion by 2029 at a CAGR of 7.64%

The soybean processing market is anticipated to grow at a CAGR of 7.64% from US$153.19 billion in 2022 to US$256.54 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, May 23, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the soybean processing market is projected to grow at a CAGR of 7.64% between 2022 and 2029 to reach US$256.54 billion by 2029.

Soybean processing is a unique process that turns soybeans into multiple useful products. This way of extraction yields soybean oil, which serves as a useful element in cooking and biofuel production. Furthermore, the protein-rich surplus is what the remaining portion is- either cattle feed or fertilizer. Advancements in technology have allowed more precise manipulations leading to the production of many food products such as lecithin, an emulsifier used in food, and isoflavones which upon further research show health benefits. This is the area to satisfy the growing consumer need for soy-based food, feed, and biodiesel production.

Soybean processing involves two primary methods separation of oils by washing and pressing, as well as solvent extraction. Soybeans are the most important competitive crop as it is used to unite several kinds of dishes like soy flour, soy milk, tofu, soy-based bakery products, soy snacks, and more.

The growing demand for soy-based products is the primary driving force behind the soybean processing market growth. The health benefits of soy linked to high protein content and, possibly, cholesterol-lowering properties are getting more and more famous among consumers. The new trend is for various soy products, including tofu, tempeh, edamame, and plant-based meat substitutes.

The initial soybean processing may be referred to as the preliminary processing of soybeans before the dehulling and extraction stages. The method of processing that includes heating treatment together with crushing has high efficiency and it's one of the best solutions in soybean handling. This method has two functions, firstly, to remove antinutritional factors, for example, trypsin inhibitors, phytic acid and enzyme inhibitors and secondly, to improve oil yield and quality during extraction and processing.

Numerous product launches and collaborations are taking place in the market thereby, increasing the soybean processing market growth.

• For instance, in November 2023: ADM and MGP announced collaboration towards the growing demand for renewable fuels. Through the new Green Bison facility in North Dakota, the soybean processing plant will be the first to be exclusively dedicated to processing soybeans in the state. Transforming soybeans into refined soybean oil which acts as the chief basic ingredient of environmentally friendly green diesel.

Access sample report or view details: https://www.knowledge-sourcing.com/report/soybean-processing-market

The soybean processing market, based on product is segmented into three categories namely oil, meal, and others. Oil is expected to account for the major share of the soybean processing market. The market share of the oil product is large due to its ability to be used in different ways. It has a multitude of uses, one function of it is as a cooking oil, it is used as feedstock for biofuel or green diesel production, and it also has other multiple usages.

The soybean processing market, based on application is segmented into six categories namely animal feed, food and beverages, personal care, dietary supplements, pharmaceuticals, and others. Animal feed is expected to account for the major share of the soybean processing market. Animal feed is the major product utilized due to its high protein levels being included as a significant ingredient of livestock feed formulation. This particular application controls most of the market share.

Based on geography, the soybean processing market is expanding significantly in the North American region due to various reasons. In countries like the United States, Canada, and Mexico there is a growing demand for soybean processing in various industries, including agriculture, food and beverage, animal feed, and biofuel. The demand is being driven by these countries due to the region is an important producer of soybeans that provides a source of soybeans needed for everyday use at home instantly. Besides, the growing consumer focus on vegetable analogs and biodiesel holds for a company with large positions in soybean oil.

The research includes several key players from the soybean processing market, such as ADM, CHS Inc., Louis Dreyfus Company, CGB Enterprises, Ag Processing, Incobrasa Industries Limited, Yemmak, and Farmet.

The market analytics report segments the soybean processing market using the following criteria:

• By Product

o Oil
o Meal
o Others

• By Application

o Animal Feed
o Food and Beverages
o Personal Care
o Dietary Supplements
o Pharmaceuticals
o Others

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• UK
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• China
• Japan
• India
• South Korea
• Indonesia
• Thailand
• Others

Companies Profiled:

• ADM
• CHS Inc.
• Louis Dreyfus Company
• CGB Enterprises
• Ag Processing
• Incobrasa Industries Limited
• Yemmak
• Farmet

Explore More Reports:

• Oilseed Processing Market: https://www.knowledge-sourcing.com/report/oilseed-processing-market

• Non-GMO Soybean Market: https://www.knowledge-sourcing.com/report/global-non-gmo-soybean-market

• Global High Oleic Soybean Market: https://www.knowledge-sourcing.com/report/global-high-oleic-soybean-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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