Soybean Meal: Global Market Opportunities & Future Trends 2019-2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 23, 2019--
The “Soybean Meal Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The soybean meal market was valued at USD 88.2 billion in the year 2018, and the market is projected to register a CAGR of 4.2%, to reach a value of USD 112.6 billion in the year 2024.
China is the largest soybean meal producing country, with a capacity of 75.2 million metric ton, followed by the United States with 42.2 million metric ton in 2017. The major importers of soybean meal are Vietnam, Belgium, Spain, and other countries. The major exporters are the United States, Italy, India, and other countries. Increase in demand for high quality protein in soybean will continue to drive higher demand for soybean meal, mainly from the animal feed industry over the forecast period.
Increasing Demand for Protein-enriched Food for both Humans & Animals
Soybean meal is one of the most important sources of protein. This protein has a unique composition of amino acid and can be used as an alternative for cereal proteins. So, soybean meal is used to feed animals and humans. The main reasons behind the increasing demand for protein-enriched foods are its health benefits and the number of livestock, cattle, ruminants, and other animals that are fed soybean meal. The other reason for the increase in demand is the restrictions placed on slaughterhouse by-products, which in turn, has increased the market for soybean meal.
Asia-Pacific to Dominate the Market
Asia-Pacific dominated the soybean market, globally, with a share of more than 40% in the year 2018. China holds a lion’s share in terms of soybean meal consumption in the Asia-Pacific region, with ~77% in the year 2018. China depends on soybean meal, largely with the animal feed industry being a major end-user. With the rise in import tariffs, alterations have been made in terms of rationing of protein levels in animal diets, which will continue to affect the soybean meal market largely.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Demand for Protein-enriched Food for Both Humans and Animals
4.3.2 Usage in Healthcare Products and Protein Drinks
4.3.3 Increasing Demand in Pig and Poultry Industries
4.4 Market Restraints
4.4.1 Fluctuating Prices of Soybean Meal
4.4.2 Easy Availability of Alternative Meals
4.4.3 Low Production of Meal
4.5 Industry Attractiveness - Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1.1 Animal Feed
5.1.2 Food Industry
5.1.4 Healthcare Products
5.2.1 North America
5.2.4 South America
5.2.5 Middle East & Africa
6 PROCUREMENT PREFERENCE MATRIX
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/uv904m
View source version on businesswire.com:https://www.businesswire.com/news/home/20190523005632/en/
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Related Topics:Cereals, Grains and Pulses
INDUSTRY KEYWORD: NATURAL RESOURCES AGRICULTURE RETAIL FOOD/BEVERAGE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 05/23/2019 12:44 PM/DISC: 05/23/2019 12:44 PM