U.S Soybean Market: Demand Analysis and Growth Forecast
Soybean is popularly known for its naturally occurring oil-rich proteinaceous seeds, which are widely used as fat free food for humans and animal feed. According to United States Department of Agriculture (USDA) report, it was stated that the US soybean production is at top-notch, which accounted to 4.59 billion bushels in 2018. Abundant availability and low pricing are the key growth promoting factors in the U.S soybean market. Additionally, the rising awareness about soybean health benefits is proliferating the U.S soybean market growth. Soybeans are majorly used to reduce the risk of osteoporosis and coronary heart diseases. This information is taken from the IndustryARC report titled “U.S. Soybean Market: By Type (Soybean Food Products, Soymeal, Soybean Oils); By Application (Food, Feed, Beverages, Pharmaceuticals and others); & By Geography – Forecast (2019 - 2025).”
A newly compiled market research report from IndustryARC finds that the U.S. soya bean market size was around $61,000 million – $62,500 million in 2018, and is estimated to register a healthy CAGR of around 3.0% to 4.5% during the forecast period 2019-2025. Burgeoning demand for nutrient rich food, beverages, and supplements owing to increased concerns towards healthy lifestyle are driving the US soybean market growth.
Browse 71 Market Tables, 178 Figures spread through 165 slides and an in-depth TOC “U.S. Soybean Market (2019 - 2025)”
U.S. Soybean Market: Leading Segments
Animal feed and pet food producing industries are the major end-users of soybeans, which held a maximum share in the U.S soybean market in 2018 and is projected to grow with a notable CAGR of around 4.2% - 5.5% during the forecast period 2019-2025. Rising demand for soy protein as it ensures easy digestibility, without any loss of protein and energy for the animals, has become a major source in the production of animal feed and pet food which in turn boosts the growth of U.S. soybean market.
U.S. Soybean Market Trends
- Increased usage of soybeans in the manufacturing of soymilk, soy sauce, and soya nuts products in the food & beverage industry is in trend. As soybeans comprises of rich proteins, beneficial nutrients such as iron, calcium, zinc and vitamin D are added to the diet of an individual and these proteins help in increasing the bone density and reducing the menopausal symptoms such as night sweat and hot flashes on body as well.
- Soy bean is the major constituent in the production of enriched vegetable protein oils such as lecithin and refined oil. Rising intake of soy lecithin oil as a supplement in food benefits to maintain a healthy heart and brain development.
- Soybean based painting and coatings is the latest development stocking in the U.S soybean market. It helps to easily binder the paints and coatings with a carrier solvent in both architectural and industrial applications.
U.S. Soybean Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the US soybean market are: Kerry Inc., Cargill, Archer Daniels Midland, Senoj International, Sunshine Soybean, MEFTA, LLC, Grain Millers, Inc., Bluegrass Farms of Ohio Inc., Brushvale Seed, Inc., and Eden Organic Grains Inc.
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