Soymeal is generally used in animal feed as a protein supplement. Soymeal is mostly prepared from the residue that is left behind after the extraction of soybean oil. Soymeal is rich in highly digestible protein, and the protein is mainly composed of amino acids, the building blocks of body protein for poultry and livestock. Soymeal is believed to have originated in China about 5,000 years ago. The increasing demand for soymeal from the feed sector is expected to drive the growth of the global soymeal market during the forecast period. The demand for soymeal is expected to remain high during the forecast period.
Technavio’s analysts forecast the global soymeal market to grow at a CAGR of 5.41% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global soymeal market for 2017-2021. To calculate the market size, the report considers the sale of soymeal products to individual consumers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Soymeal Market 2017-2021
Technavio recognizes the following companies as the key players in the global soymeal market: Archer Daniels Midland, Bunge, Cargill, and Wilmar International.
Other Prominent Vendors in the market are: Gujarat Ambuja Exports, Prestige Group of Industries, Ruchi Soya Industries, SUN AGRI EXPORT, Vaighai Agro, Vippy Industries, and Zeeland Farm Services.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing demand for organic variants of soy products. Organic products are priced higher in comparison to conventional products. The premium price is due to the comparatively high production and distribution costs as well as consumers’ willingness to pay extra for organic variants. The extra premium cost associated with organic production is passed throughout the supply chain and at last paid by the end-consumer.”
According to the report, one of the major drivers for this market is Health benefits of soy. Soy has several health benefits associated with it, and the increasing awareness about its health benefits among consumers is aiding the market growth. Soy is comprised of 30% carbohydrate, 38% protein, 18% oil, and 14% moisture. It contains all nine essential amino acids, in the ideal ratio for human health and wellbeing. Soy protein isolates contain less cholesterol than animal proteins. Soy also contains phytosterols, which help prevent cholesterol absorption. Soy products thus help in reducing the risk of heart failure. They also help increase bone density and are a good source of vitamins, such as B6 and B12. Soy is also the main source of minerals such as zinc and iron and contains isoflavones that reduce the risk of breast cancer in women. Thus, growing health consciousness among consumers will increase the sales of soymeal during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is Ecological disturbance. Although soymeal provides several nutritional benefits and is a major protein component in animal feed, the increased production of soy has an adverse effect on the environment. The rising demand has led to farmers expanding soy plantations, leading to ecological imbalance. Forests are being cut down to accommodate these plantations. Also, the increasing use of pesticides in soybean fields has contaminated freshwater and groundwater, affecting the health of people and wildlife. These chemicals are a significant source of nutrient pollution in rivers, lakes, and estuaries. The unsustainable water used in the irrigated systems also affects aquifers such as the Ogallala Aquifer in North America.
Archer Daniels Midland, Bunge, Cargill, and Wilmar International. Gujarat Ambuja Exports, Prestige Group of Industries, Ruchi Soya Industries, SUN AGRI EXPORT, Vaighai Agro, Vippy Industries, and Zeeland Farm Services.
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