Organic Soybean Market Size, Latest Research News and Forecast To 2022
Posted by Pradeep Zende on March 2nd, 2020
The global market for organic soybean has witnessed continued demand during the last few years and is projected to reach USD 2210.53 million by 2022. Developing economy and consumers’ adoption of sustainable development trends are likely to drive the organic soybean market size share in the countries of the developed regions. Increasing disposable income and technological strides facilitating agricultural productivity are also likely to have a positive impact on its market growth.
Based on the application, food-based application of organic soybean is expected to witness the highest growth rate (~18%) on a global level. Feed based application of organic soybean will hold a significant share and will also witness a steady growth during the given forecast period. Crush based application major portion of which goes in edible soybean products is likely to experience a high growth rate and is estimated to hold a market share during the given period.
By Downstream Analysis
By 2022, organic soybean will reach a market value of USD 2210.53 Million on a global level. Potential applications of organic soybean in food and feed industries have a positive impact on its market share growth. Based on the application, crush based food and feed application of soybean will experience the highest growth rate of more than 70% during the given period. However, feed use of organic soybean will also hold a significant share of more than 5% in the global market.
The major key players in organic soybean are
Key players are focused majorly on acquisition of small players to expand their business and penetrate the global organic soybean 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. Acquisition and expansions are evaluated to be contributing to more than 25% of strategy share and is facilitating the companies to penetrate the potential market across globe.
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Among the regions, Latin America will continue to dominate the organic soybean market with more than 40% of the market share and it is projected to reach more than USD 800 million by 2022. Asia Pacific will witness the highest growth rate (~18.25%) during the forecast period 2017-2022. Growing popularity of organic soybean owing to their potential applications in food industries as well as oil and feed industries are supporting their market growth on the global level. Rising health awareness and increasing disposable income have been playing a key role in the organic soybean growth from the last few years.
Global Organic Soybean is Segmented by Application and Regions.
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About the AuthorPradeep Zende
Joined: February 12th, 2019
Articles Posted: 396
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