Organic Soybean Market Research Report - Forecast to 2030

Organic Soybean Market Information by Application (Crush, Food Use and Feed Use) and Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Forecast to 2030

ID: MRFR/F-B & N/2864-CR | September 2017 | Region: Global | 89 pages

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Organic Soybean Market Overview


Organic soybean is usually produced by complying with set standards of farming. It ensures that organic farming has retained the natural ingredients. Soybean produced through organic farming contains high nutritional contains while it is grown under regulations imposed by the government. It eliminates the use of synthetic fertilizers which protect the environment as well as the product. and is projected to reach USD 3,206.7 million at a CAGR of 12.56% by 2030.


In addition, the demand for organic soybean has been increasing in food and beverage industries, animal feeding, and personal care. Since the population has gained awareness of health-related fats, demand for soybean-made meat, oil, and others is also increasing. In regions like North America and several European nations are experiencing a change in lifestyle due to which organic soybean market growth will be increased in the upcoming years.


COVID-19 Analysis


 Pandemic has impacted the growth and demand severally. The countries are undertaking strict measures from 2019 which include a series of partial and full lockdowns. Due to this, the production of organic soybean has become a standstill due to the imposition of social distancing norms.  This has reduced the production units as compared to pre- COVID-19 situations. Also, the imposition of national, regional, and international lockdowns has restricted the import and export of final products, thereby influencing the entire value chain. It is estimated that the uncertainty regarding pandemics will impact the organic soybean market in the short and medium markets.


Market Dynamics


Drivers


The demand for the organic soybean market has been improving globally. The main drivers of the growth rate will be enhanced demand from the food and feed industry. Also, another driver will be increased demand for naturally produced food products which has fueled market investments in the production, processing, and distribution of organic soybean. In addition to this, soybean is considered to alternative for many convectional items, hence this factor will also drive the market.  In addition to this, countries like the US and Europe are witnessing high rates of chronic diseases like obesity, diabetes, blood pressure which prompted individuals for changing their lifestyles this will also act as a driving factor for influencing the market growth of organic soybean market.


Opportunities


Organic soybean is used in many forms while it can be consumed whole or processed.  There has been increasing demand for organic meat which has pushed the demands for feed and pet food.  In addition to this, organic soybean is used as raw material for many consumer products, hence the manufacturers will get varied opportunities for expanding the market. This can be contributed to the increasing changes in global lifestyle which includes following a vegan diet or shifting to plant-based meat as an alternative for non-vegetarian products.  Hence, manufacturers in the value chain will also gain opportunities for earning high profits with improved distribution and supply of raw organic soybean and finished products. Besides, the organic soybean market is expected to provide high-profit margins accompanied by practices of sustainable agriculture thus providing long-term growth opportunities.


Restraints


 The manufacturers might face fluctuations in the commodity pricing which will impact investments for driving the market growth. Also, organic soybeans are typical of higher prices than the present in the existing market, hence, the organic soybean market value is relatively lower in developing nations or lower economic strata.


Challenges


In addition to this, organic farming is characterized by the elimination of using fertilizers and pesticides, thus, managing pests will increase many challenges.  In addition to this, organic farming is in the infant stages thus, the manufacturers and distributors will face a challenge in reaping benefits in the global market.  The other challenges will include the irregular climate and seasonal variations accompanied by uneven rainfall will negatively impact organic soybean.


Cumulative Growth Analysis


 The demand for the organic soybean market has been increasing due to advancements in the culinary industry.  In the hospitality sector, there has been improvement in recipes and cooking methods, thus, using organically produced ingredients has increased the revenues in the organic soybean market. This has provided the impetus for innovation in food planning and restaurant chains.


Value Chain Analysis/ Technology/ Regulatory


 The organic soybean market requires strict regulations for marketing and distribution to ensure its safety for consumption.  In addition to this, the restriction on the use of chemical fertilizers will help in improving the market for organic products like soybean.  Excessive use is harmful to both the health of crops and humans. In addition to this, the use of advanced technology has been applied in many developed regions thus improving crop farming organically which might create several opportunities for the organic soybean market.


Segment Overview


 The organic soybean market can be categorized into application, end product, and distribution.



  • By application- The organic soybean market by application is further categorized in food, beverage, personal care, cosmetics, pharmaceuticals, and animal feed. There is an increasing trend witnessing lifestyle changes for organic meat which had coupled demand for fodder.

  • By end- product- The organic soybean market is further divided into whole, protein, oil, and meals. In the global market, change of lifestyle to healthy and vegan products has coupled the demand for organic soybean as it forms a major component in meals and varied types of snacks.

  • By distribution- The organic soybean market value is reaped through direct and indirect channels. In addition to this, indirect sales of organic soybean include retail and supermarkets, convenience stores, online retail, and others.


Regional Analysis


 In the regional segmentation, the market for organic soybean will include North America, Latin America, Europe, Asia- Pacific, and the Middle East. In the regional analysis, it is estimated that increasing lifestyle changes in North America and Europe will accelerate the organic soybean market value.  Also, the market growth of organic soybean will be attributed highly from Asia -Pacific approximately 18. 25%.


Competitive Landscape


In the current times, the players include Sapthsathi Organic Agriculture (India), Soni Soya Products (India), Grain Millers Inc. (USA), Perdue Farms (US), Tyson Foods Inc. (US), AFG Brazil (Brazil), Pilgrims’ Pride (US).


Recent Developments


In the current times, the companies are using strategic tools like mergers and acquisitions for expanding in different markets and product portfolios. Also, many brands are using healthy and convenient options like instant product mixes for making a place within the busy lifestyle of the individuals. Also, the use of technology and biofertilizers is expected to accelerate the organic soybean market value.


Report Overview


  This report is prepared from secondary sources which include market overview, the impact of COVID-19, market dynamics, value chain analysis, segment overview, competitive landscape, and recent developments.



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Frequently Asked Questions (FAQ) :

Organic soybean market is projected to grow at a 12.56% CAGR by 2030.

Latin America is expected to dominate the organic soybean market.

Organic soybean market is predicted to touch USD 3206.7 million by 2030.

Crushed based application will lead the organic soybean market.

Diverse application and high nutritional value are the key factors driving the organic soybean market.