Soybean is an important bean that provides vegetable protein for millions of people and is also a key ingredient used in various end use applications including chemical products.
Increasing consumption of soybean coupled with growing awareness about various health benefits of soybean is a major factor boosting growth of the global soybean market. But, lack of awareness of soybean in some developing economies is a major factor restraining growth of the global soybean market.
On the basis of source, the global soybean market is segmented into organic and conventional. The conventional segment is anticipated to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. Also, organic segment is projected to witness moderate growth over the forecast period.
The global soybean market report has been segmented on the basis of source, end product, end use, and region. On the basis of region, the global soybean market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in Asia Pacific accounted for highest share in terms of revenue in the global market, and is projected to maintain its dominance over the forecast period. This can be attributed to high consumption of soybean coupled with increasing production of soybean in countries the region. Revenue from the market in Latin America accounted for second-highest share and is closely followed by the markets in North America, Europe, and Middle East & Africa respectively. This is attributed to increasing consumption of soybean in the region. Furthermore, the market in Asia Pacific is projected to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. Also, the markets in Latin America and Middle East & Africa are projected to witness moderate growth over the forecast period.
Prominent players in the global soybean market include Fuji Oil Group, House Foods Group Inc., E.I. du Pont de Nemours & Co., CHS Inc., Cargill Inc., The Scoular Company, Kerry Inc., Archer-Daniels-Midland Co., and The White Wave Foods Company.