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Organic Soybean Market Trends

ID: MRFR//2864-CR | 89 Pages | Author: Pradeep Nandi| September 2017

Global Organic Soybean Market Overview

Organic Soybean Market Size was valued at USD 1.5 billion in 2022. The Organic Soybean industry is projected to grow from USD 1.688 Billion in 2024 to USD 3.433 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.56% during the forecast period (2024 - 2032). In the food and beverage, pet food, and personal care industries, there has been an increase in demand for organic soybean. 

The public's understanding of unhealthy fats has increased the demand for meat, oil, and other products manufactured from soybeans. The expansion of the organic soybean industry will accelerate in the next years due to a shift in lifestyle occurring in places like North America and many European countries, thus driving the growth of the organic soybean market. These are just a few of the market drivers that are driving the market.

Organic Soybean MarketSource: Secondary Research, Primary Research, MRFR Database and Analyst Review

Organic Soybean Market Trends

  • Rising demand for organic soybean will propel market growth

The expansion of the organic food and feed industries is one of the main factors affecting the demand for organic soybean in the market. Demand for organic soybean food products is primarily driven by rising consumer awareness of the health advantages of organic products and customers' preference for natural products that include fewer chemicals and additives. In addition, the need for organic soybean is anticipated to rise in the feed industry due to the demand for organic chicken, which drives up demand for organic soybean among feed producers. Also, the trend of consuming organic and natural food is growing as people strive to lead healthier lifestyles in response to health problems, including obesity, diabetes, and high blood pressure. Thus, this factor is driving the market CAGR.

As a result, individuals are more likely to consume functional meals like soy-based organic protein products that contain plant-based proteins. The price volatility of grains brought on by climate variations is one of the main issues facing the organic soybean industry. Organic soybean production is directly impacted by climatic irregularity and seasonal fluctuations since they adversely influence crops due to significant and uneven rainfall patterns. Increased consumer demand for naturally produced foodstuffs, which has sparked market investments in organic soybean production, processing, and marketing, will be a further motivator. Furthermore, soybean is regarded as a substitute for various convectional commodities; hence, this reason will further push the market. In addition, chronic disorders like obesity, diabetes, and high blood pressure are becoming more prevalent in developed nations like the US and Europe. As a result, people are changing their lifestyles, which will positively impact the market growth for organic soybeans. Thus, it is anticipated that this aspect will accelerate organic soybean market revenue globally.

Organic Soybean Market Segment Insights

Organic Soybean Application Insights

The Organic Soybean market segmentation, based on application includes crush, food use, feed use. The feed use segment held the majority share in 2022 in the organic soybean market data Demand for organic meat products is growing more quickly in the market. To produce organic meat, it is necessary to organic feed and pet food to animals. Hence, the growing demand of high quality organic meat would in turn fuel the growth of the organic soybean market.

Figure 1: Organic Soybean Market, by Distribution Channel, 2022 & 2030 (USD Billion)Organic Soybean Market, by Distribution Channel
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Organic Soybean Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Organic Soybean market accounted for USD 0.687 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study Because the region has the highest concentration of health-conscious people and because cardiovascular diseases, obesity, diabetes, high cholesterol, and high blood pressure are becoming more common, among other things, North America gained the largest market share in 2022 and is anticipated to dominate the regional market by the year 2023. The United States leads the market for organic soybean meal and is the main contributor to the North American market.. New product development, partnerships, partnerships, expansions, mergers, and acquisitions are the main strategies used by the organisations in the market.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: ORGANIC SOYBEAN MARKET SHARE BY REGION 2022 (%)ORGANIC SOYBEAN MARKET SHARE BY REGIONSource: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Organic Soybean market accounts for the second-largest market share. Due to the maturity of the sectors, even though at a slower rate, the high demand for organic soybean in developed markets like Germany and the U.K. will positively impact market growth. Moreover, UK Organic Soybean market held the largest market share, and the Germany Organic Soybean market was the fastest growing market in the region.

Asia Pacific Organic Soybean Market is expected to grow at the fastest CAGR from 2022 to 2032. Due to growing consumer awareness of a variety of nutrient-rich dietary requirements, an aging population, and the increasing urbanization of developing countries like India and China, the Asia Pacific organic soybean meal market is anticipated to grow at the fastest rate in years. Further, the China Organic Soybean market held the largest market share, and the India Organic Soybean market was the fastest-growing market in the region.

Organic Soybean Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Organic Soybean market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, mergers and acquisitions, contractual agreements, increased investments, and collaboration with other organizations. Competitors in the organic soybean industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the organic soybean industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, organic soybean industry has provided medicine with some of the most significant benefits. The Organic Soybean market major player such as Carlsberg Group, Accolade Wines, Diageo Plc., Heineken Holding Nv, Beam-Suntory, Constellation Brands, Anheuser Busch InBev.

The Archer-Daniels-Midland Company, also known as ADM, is an American multinational corporation established in 1902 with its corporate headquarters in Chicago, Illinois. ADM announced plans to enlarge its North Dakota, U.S., soybean crushing and refining facility in May 2021. The purpose of this plant is to boost oil output. The market structure is moderately consolidated, with a few corporations controlling a sizeable portion of it. For further market consolidation, the main corporations, including Associated British Foods, plc, Bunge, and Cargill, Inc., are concentrating on strategic alliances, mergers & acquisitions, and new product introductions. The market's growth is fueled by the competition that has been significantly increased by introducing specialty players.

CHS Inc.'s Fortune 500 secondary cooperative owners include thousands of preferred stockholders, farmers, ranchers, and US agricultural cooperatives. CHS is a Minnesota-based company that owns and manages several food processing, farm supply, financial services, retail, and wholesale enterprises. 0 174 September 19, 2019, CHS Inc. (NASDAQ: CHSCP) disclosed plans for a sizable refurbishment at its soybean processing facility in Fairmont, Minnesota. Expanding the production of highly sought-after soy-based food and feed additives will improve market access for local soybean growers and provide its owners with a return on their investment.

Key Companies in the Organic Soybean market includes

  • Sapthsathi Organic Agriculture

  • Soni Soya Products

  • Grain Millers Inc.

  • Perdue Farms

  • Tyson Foods Inc.

  • AFG Brazil

  • Pilgrims’ Pride

Organic Soybean Industry Developments

In 2023: Soni Soya Products Pvt. Ltd. launched a new range of organic soy protein isolates and concentrates, targeting the growing demand for plant-based protein ingredients in the food and beverage industry.

August 2021: Archer Daniels Midland Company and Marathon Petroleum Corp. launched a joint venture to generate soybean oil to meet the growing demand for sustainable diesel fuel.

September 2021: The latest soybean processor, CHS, has announced a $60 million expansion of its soybean processing facility in Mankato, Minnesota, to strengthen its position in the renewable diesel market. When finished, the plant will increase soybean oil production by 35% yearly.

Organic Soybean Market Segmentation

Organic Soybean Application Outlook (USD Billion, 2018-2032)

  • Crush

  • Food Use

  • Feed Use

Organic Soybean Regional Outlook (USD Billion, 2018-2032)

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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