Soy has increasingly become a vital crop in agriculture due to its diverse use in the food & beverage industry. Soymeal or soybean meal is used in both human and animal food production. In animal feed, soymeal is a principal protein supplement which also behaves as a source of energy. Soymeal is a leftover product from the extraction of soybean oil. remaining being used for soy flour and other products which are consumed by humans. Market Research Future has spent valuable resources in toward the study of the global Organic Soymeal Market the findings of which reveal the growth of the global market at a CAGR of 17.98% during the forecast period between 2016 and 2022. The global organic soymeal market is on track to reach an estimated evaluation of USD 623.31 Mn by the end of 2022.
Soni Soya Products Pvt Ltd, Sapthsathi Organic Agriculture project (S.O.A.P.), Perdue Farms, Pilgrim’s Pride, Grain Millers Inc., AFG Brasil S/A, and Tyson Foods Inc. are among the noted market players that have been included in MRFR’s review of the global organic soymeal market.
With regards to both market value and volume, the Asia Pacific has captured more than 35% of the global organic soymeal market. As such, the APAC region has acquired a leadership role in the global market with a projected CAGR of 18.15% during the review period. The APAC market will approximately reach a market value of more than USD 200 Mn by the end of 2022. The region has a substantial production volume of soybean in the market. The region has also been displaying an increasing demand for organic ingredients in animal feed, thus driving the market. Latin America is expected to witness a high rate of growth over the forecasted period at 18.25% during the assessment period. The region has a large animal husbandry industry and is a significant meat eating region where organic animal feed is receiving increasing attention.
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The high nutritional value of organic soymeal and its important role in ensuring adequate protein intake in animals has been a key driver supporting the growth of the global soymeal market. A large majority of soymeal is used in poultry feed among other animals; a smaller amount is also used in the production of fish feed and pet food. Rising demand for dairy and meat products in a global environment with a rapidly expanding population is expected to drive the growth of the market.
The global organic soymeal market has been segmented based primarily on application, and region in MRFR’s detailed report. Applications of soymeal have been segmented to include human food and animal food. The human food application of organic soymeal has captured the largest share of the market at a share of more than 95%. This is primarily due to the increasing health consciousness among consumers combined with a resulting focus on organic products. The importance of organic animal feed has also resulted in rapid growth for the animal feed segment over the assessment period.
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