Rising demand for Alternative Protein to Boost Organic Soymeal Market

Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Cooked Research Report on the Global Organic Soymeal Market.

The consumption of organic foods are on the rise, and organic soymeal is also witnessing high demand. market Research Future (MRFR) has launched a comprehensive report on the Global Organic Soymeal Market and has asserted that the market is likely to exhibit steady growth over the forecast period of 2017-2022. 

Soymeal is a high source of non-animal protein and is being progressively preferred by consumers. A rise in the level of awareness regarding the benefits aligned with soymeal is stimulating the growth of the global organic soymeal market. Soymeal is extensively used in livestock diets and also as a protein supplement in various other products. Moved by increasing concerns towards animal welfare, a considerable number of the global population is ditching animal-based products. This has resulted in a shift towards alternative sources of protein which is boosting the growth of the organic soymeal market.

On the other hand, farmers are reluctant to cultivate organic soybeans due to rigidity and complications which are associated with the deviation from traditional farming practices. This can significantly curb the growth of the organic soymeal market in the coming years.

The ongoing US-China trade war is likely to impact the growth of the soymeal market. China has already trimmed its usage of soybean meal in animal feed as it is aiming to reduce its dependency on soybean imports from the US.

Segmentation

The organic soymeal market has been segmented on the basis of application, which includes human food and animal food. The human food segment is anticipated to lead the market over the forecast period and accounts for more than 95% share of the global market. Surging health consciousness among consumers is a key factor in boosting the growth of the market. The animal feed based application is also likely to exhibit high growth rate over the forecast period.

Access Report Details @ https://www.marketresearchfuture.com/reports/organic-soymeal-market-4217

Regional Analysis

Region-wise, the organic soymeal market has been segmented into North America, Latin America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).

APAC accounts for the majority share of the global organic soymeal market. The consolidating trend of leading a healthy lifestyle has generated a high demand for organic soymeal in the region. The agriculture sector is focusing on increasing the production of organic soymeal production in the region, and also soybean meals are gaining popularity in the region, especially in China. The governments in the region are extending their support in the form of subsidies to producers in order to reduce imports which too is a crucial determinant of the market growth. Continued population growth and heightened demand for alternative protein sources is also a key factor enhancing the growth of the market.

The Latin America soymeal market is likely to exhibit heightened growth in the coming years due to a rise in the production of soybean in the region. The Europe market is driven by increasing demand for soymeal in animal feed. The demand for non-GMO soybean meal from Europe is increasing steadily which is likely to propel the growth of the market.

The prevalence of veganism trend in North America has had a positive effect on the growth of the soymeal market. Vegan consumers are increasingly looking for non-animal source of protein and a significant rise in the awareness level of the health benefits aligned with it is boosting the growth of the market in North America.

Competitive Landscape

AFG Brasil S/A (Brazil), Perdue Farms (U.S.), Tyson Foods Inc. (U.S.), Grain Millers Inc. (U.S.), apthsathi Organic Agriculture project (S.O.A.P.) (India), Soni Soya Products Pvt Ltd (India), and Pilgrim's Pride (U.S.) are the notable players in the organic soymeal market.