Roasted Soybean Market
Global Market Study on Roasted Soybean: Increasing Sales Being Witnessed as a Healthy Alternative in Snacks Category
Roasted Soybean Market is segmented by Nature that is Organic, Conventional, and by its forms that is Whole, Splits, Flour.
Soybeans are high in protein, fiber, and saturated fat, are cholesterol-free, and a good source of omega-3 fatty acids and antioxidants. Besides, soybeans are always on top when it comes to plant-based protein.
Manufacturers are focused on raw roasted soybeans that are minimally processed and contain all essential nutritional content, with different flavor profiles. These products are gaining popularity among consumers across the globe.
- For instance, Mindals AGRO, an India-based company, produces flavored roasted soybeans available in a pack sizes of 50g to 180gm.
Find Out More about the Report Coverage
- SunOpta Inc.
- KLC Farms Roasting Inc.
- N. L. Food Industries
- Mindals AGRO
- Vaishnav Food Products
- Natural Products, Inc.
- Jabsons Foods
- Soyaam Food
- Bansal Extraction & Exports Private Limited.
- Hillsboro Feed Company
- Urban Platter
- Quality Roasting, Inc.
- Grain Basket Foods
- SR Foods
- Bryant Grain Company
Feed Industry - Key Growth Driver of Roasted Soybean Market
The feed industry is one of the key consumers of soybean and soy-based ingredients, mostly in the form of raw soybean. Roasted soybeans can promote healthy digestion in animals, especially in ruminants.
These roasted soybeans promote increased milk output in dairy cows, owing to high digestibility attributes and rich nutrients. Also, roasted soybean can be fed to horses, goats, sheep, buffaloes, and wildlife animals. These are the factors are expected to lead to huge growth of the global roasted soybean market over the coming years.
- For instance, U.S.-based Bryant Grain Company provides roasted soybeans in whole and pellets forms, for all animal categories, including ruminants, poultry, wildlife, swine, equine, and others.
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Nutrition First - Top Priority for Vegetarian and Vegan Consumers
The increasing vegetarian and vegan population prefers plant-based proteins for their nutrition. People opt for a vegan diet as they consider it healthy, rather than animal-based protein products. Roasted soybeans are the best source of nutrition for vegan and vegetarian consumers.
Nutrition continues to be the topmost priority for vegan and vegetarian consumers, as they seek to improve their health through food. This trend is expected to boost the growth of the roasted soybean market across the globe.
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Rising Demand for Roasted Soybean from Bakery Producers to Boost Sales
Roasted soybean flour increases the water absorption of dough, increases yield, and extends the shelf life of the final product. These characteristics provide additional benefits to bakery manufacturers.
In addition, it increases the overall nutritional content of the final product. Thus, roasted soybean bakery products are gaining traction among consumers, owing to their nutritional content and taste characteristics.
- Natural Products, Inc.’s roasted full fat soy flour is used in bakery products to increase the water absorption of dough, which increases yield and extends shelf life. It can also can be used in cakes and donuts to reduce the amount of oil absorbed during frying.
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Latin America and East Asia, Together, Dominate the Global Market
Latin America is one of the leading producers and consumers of soybeans. Consumers in this region are highly aware of the varied uses of soybeans. They widely use roasted soybean in food & beverage products such as snacks and convenience food, bakery, and other processed food.
Also, the use of roasted soybean is increasing in the feed industry to promote animal health. These factors are expected to drive the growth of the Latin America roasted soybean market over the coming years.
Europe is expected to witness healthy growth over the forecast period of 2020-2030, followed by South Asia. Countries in the European region are anticipated to emerge as the next potential markets for manufacturers offering roasted soybean. Europe has the largest number of dairy cows along with the largest dairy industry.
The trend of ‘living a healthy lifestyle’ is also gaining momentum in this region, which is anticipated to accelerate the growth of the roasted soybean market in Europe.
Anticipated COVID-19 Impact on Roasted Soybean Market
Trade struggles, prohibited and late planting of crops, and policy modernizations have presented a tough decision-making situation to farmers. Judgments for this spring are now considerably complicated, given the rapidly changing situation due to the spread of COVID-19 and its associated health threats and control measures.
Presently, an overriding concern is ongoing for farming and livestock activities in the face of COVID-19 health threats and control measures. Farmers and input suppliers are coming up on a very busy planting season. To the extent possible, assuring a workplace free of COVID-19 is important. A recession is expected to result because of COVID-19 control measures, the extent of which remains unknown. At this point, the economic implications are uncertain, but some sort of acreage and public policy response seems likely.
It is innocuous to say that this downturn would also negatively impact agriculture. Soybean prices have fallen since COVID-19 measures have been put in place across the globe. These fraction falloffs are based on a comparison of current future contract levels to projected prices.
As the COVID-19 pandemic strokes across the world, every step along the agriculture industry supply chain is stepping up to keep employees and consumers safe, while still providing vital equipment, services, commodities, feed, and food. Food processing companies are facing significantly reduced consumption and supply chain disruption challenges.
All the major countries around the globe have announced lockdowns to counter the COVID 19 pandemic. Thus, the production of roasted soybean has been widely affected due to the shortage of raw material and lack of manpower.
Lockdowns and social distancing are leading to disruptions in the retail sector, which is affecting the sales of roasted soybeans. These factors are expected to have a noteworthy impact on the growth of the global roasted soybean market for at least the next couple of years.
The global roasted soybean market is witnessing substantial growth. Key players in the global roasted soybean market could gain additional profits by focusing on import-based regions such as Europe and the Middle East and Africa.
Manufactures need to be focused on the marketing and awareness of the benefits of roasted soybeans in these regions. Additionally, emerging economies in South Asia and East Asia offer huge opportunities to key players to expand their business in the global roasted soybean market.
Global Roasted Soybean Market: Segmentation
PMR’s study on the global roasted soybean market offers information categorized into four segments - nature, form, end use, and region.
Key Questions Answered in Report
- How much is the roasted soybean market worth?
The roasted soybean market is estimated to be worth US$ 7.9 Bn by the year 2031.
- What will be the demand outlook?
The global roasted soybean market is expected to witness a CAGR of 6.3% between 2021 and 2031.
- What was the last 5 year market CAGR?
The global roasted soybean market recorded a CAGR of 4.8% between 2015 and 2020.
- What are the key trends of roasted soybean market?
People opting for vegan diet (plant-based proteins, in particular) is the ongoing trend in roasted soybean market.
- What is driving demand for roasted soybean?
The fact that intake of roasted soybeans does render increase in milk output in the dairy cows along with being beneficial to buffaloes, sheep, goats, horses, and wild animals is driving the demand for roasted soybean.
- What is the market share of top 5 players?
The top 5 players, namely SunOpta Inc., KLC Farms Roasting Inc., N.L. Food Industries, Mindals AGRO, and Natural Products, Inc. hold more than 60% of the market share.
- What are the top 5 countries driving demand?
The top 5 countries driving demand include the US, UK, India, China, and Canada.
- What is North America’s market Outlook?
North America holds a remarkable market share due to the US dominating the market.
- At what percentage roasted soybean market is going to register growth in Europe?
Europe is expected to register growth at the rate of 3.5% in the roasted soybean market between 2021 and 2031.
- What are the key market statistics in Korea and Japan?
Japan and South Korea are expected to witness a reasonable demand for roasted soybeans between 2021 and 2031.