Soymeal meal is one of the major products derived from soybean which is used for direct consumption purpose owning to its high nutritional value. Organic soymeal are manufactured with the help of organically grown soybean. Soymeal is high in protein and hence is most preferred among the rising population of health conscious consumers. Organic soymeal is also now a days being highly used as a potential protein supplement is widely consumed all around the globe. Soy derived chemical free food products also holds a significant share in soymeal market and is highly consumed in the Asia Pacific region. Overall, mass population of consumers inclining towards health food consumption trends is also considered one of the major drivers for organic soymeal market.
High demand for organic soymeal for human consumption based on its high nutritional properties is driving the global organic soymeal market. Increasing health awareness and beneficial properties of soymeal are expected to influence the organic Soymeal market, positively. One of the major applications of organic soymeal for production of natural and chemical free pet feed is also estimated to contribute to the positive growth of this market. In addition, diverse application of the product across various industries is anticipated to propel the growth of this market.
Demand for organic foods has been slower due to reluctance among farmers to shift from traditional methods of farming to organic farming. Change in food trends and adoption of various international food forms encouraging organic soymeal consumption further encourages demand for Organic Soymeal.
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Latest Industry Updates:
Nov 2016 China’s Dalian Commodity Exchange (DCE) has urged regulators to approve the launch of soybean meal options and introduce a hog futures contract for expanding its agricultural product offering.
Jan 2017 The National Commodity and Derivatives Exchange Ltd. (NCDEX), India’s leading commodity exchange, has started of trading in soybean meal. The company aims to expand its product range in near future.
Apr 2017 Companies Algar Agro and Ibersan (part of CCPA group), both based in Uberlândia, MG, has signed a partnership to launch soybean bran with by-pass effect. It is FORTPASS, a product aimed at ruminant feed market. The company is focusing more to offer the market a product protected against protein degradation, whose formulation contain vegetable extracts and that leaves no residues in milk, dairy products or meat.
Major Key Players Analysis:
Due to complex certification process, the product launch in the organic soymeal market has been limited. Major companies are investing into R&D in the organic soymeal market to sustain competitive advantage. Efforts have been taken to develop the necessary infrastructure for continued growth in the market.
Key players are focused majorly on acquisition of small players to expand their business and penetrate the global organic Soymeal market. Expansion is also one of the key strategies followed by acquisition. Expansion will help in capturing the major market and increasing the production capacity to meet the rising demand from consumer’s end thereby further contributing to increasing revenue.
The leading market players in the Global Organic Soymeal Market primarily are AFG Brasil S/A (Brazil), Sapthsathi Organic Agriculture project (India), Soni Soya Products Pvt Ltd (India), Grain Millers Inc. (U.S.), Perdue Farms (U.S.), Tyson Foods Inc. (U.S.), Pilgrim’s Pride (U.S.)
The global organic soymeal market has been divided into application and region.
On The Basis Of Application: Human Food and Animal Feed. On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
The Global Organic Soymeal Market is segmented into Europe, North America, Asia Pacific, and rest of the world (RoW). Among all the regions, Asia Pacific will dominate the organic soymeal market with more than 35% of the market share and it is projected to reach more than USD 200 million by 2022. Latin America will witness the highest growth rate (~18.25%) during the forecast period 2017-2022. Growing popularity of organic soymeal owing to their high protein value and consumption as protein supplement is supporting its market growth on the global level. Rising health awareness and increasing health concerns have been playing a key role in the organic soymeal growth from the last few years.
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