The Business Research Company’s Soybean Meal Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034
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Can The Soybean Meal Market Continue Its Strong Performance?
The soybean meal market size is expected to see strong growth in the next few years. It is projected to reach $136.5 billion in 2029 at a CAGR of 6.3%. This continuing growth pattern during the forecast period can be attributed to a growing global population, increasing global demand for protein-rich animal feed, increasing adoption of sustainable and efficient livestock farming practices, rising global demand for animal feed, and increasing meat consumption. Technological advancements, plant-based diets, organic farming, digital technologies, and feed management systems are major trends expected to shape the contour of the market in the forecast period.
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Why Is The Protein-Rich Animal Feed Market Growing?
Driving the continued growth of the soybean market is the increasing demand for protein-rich animal feed. A type of animal feed that contains high levels of protein to support growth, reproduction, and overall health in livestock and poultry, it plays a pivotal role in fueling the market. The growing global population, rising meat consumption, and the need for efficient livestock production are catalysts for boosting the demand for protein-rich animal feed.
Soybean meal is integral for protein-rich animal feed as it is a high-quality, cost-effective source of protein and essential amino acids crucial for livestock and poultry's growth, development, and health. Notably, in October 2023, according to the Foreign Agricultural Service, a US-based foreign affairs agency, soybean meal exports hit a record high of approximately 13.2 million metric tons in the marketing year 2022/2023 October-September, with a value nearing $7 billion. In the 2023/2024 marketing year, U.S. soybean meal exports are projected to reach another record, increasing to 13.9 million metric tons. Therefore, the increasing global demand for protein-rich animal feed is driving the growth of the soybean market.
Who Are The Major Players In The Soybean Meal Market?
Significant companies operating in the soybean meal market include Cargill Incorporated, Archer Daniels Midland Company, Mitsui & Co Ltd., Wilmar International Limited, Marubeni Corporation, Bunge Limited, Viterra, CHS Inc., Louis Dreyfus Company, Granol Industria, Ajinomoto Co Inc., Ingredion Incorporated, Denofa, COFCO Corporation, Ajanta Soya Limited, Vippy Industries Limited, Shandong Heduoduo Biotechnology Co Ltd., Riceland Foods Inc., Minnesota Soybean Processors, Titan Biotech Limited, Nordic Soya, Yihai Kerry Investments Co Ltd., Eco Export, Gauri Agrotech Products Private Limited.
How Are Soybean Meal Companies Taking The Initiative To Innovate?
Major companies in the soybean meal market are developing innovative products, such as traceable soy products, to ensure sustainability and improve the overall efficiency of the soybean supply chain from farm to end destination. A traceable soy product is a soybean-based item whose origin and supply chain can be tracked and verified from production to final consumption. Archer-Daniels-Midland Company, a US-based food processing, and commodities trading corporation, launched fully traceable soybean meal and oil in July 2024, as part of ADM's resource program to ensure the sustainable sourcing of soybeans, enabling traceability throughout the entire supply chain.
How Is The Soybean Meal Market Segmented?
1 By Type: Food Grade; Industrial Grade
2 By Source: Organic; Conventional
3 By Form: Powder; Oil; Granular
4 By Sales Channel: Offline; Business To Business B2B; Online
5 By Applications: Food Products; Beverages; Healthcare Products; Dietary Supplements; Animal Feed; Other Applications
Subsegments:
1 By Food Grade: Non-GMO Food Grade Soybean Meal; Organic Food Grade Soybean Meal; Conventional Food Grade Soybean Meal
2 By Industrial Grade: Feed Grade Soybean Meal; Biofuel Production Soybean Meal; Soybean Meal For Industrial Applications
What Is The Geographical Overview Of The Soybean Meal Market?
Asia-Pacific was the largest region in the soybean meal market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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