Roasted Soybean Market

Roasted Soybean Market Outlook (2023-2033)

The market for roasted soybean can be expected to expand at a value based CAGR of 5.80% and show an increase in revenue from US$ 1,717.30 Mn to around US$ 3,017.88 Mn by 2033.

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Roasted Soybean Consumption Analysis (2018-2022) Vs. Market Estimations (2023-2033)

The global roasted soybean market has witnessed significant growth in the historical period registering a CAGR of 5.92% in the historical period and was valued at US$ 1,717.30 Mn in 2023.

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.

The global market for roasted soybean is estimated to reach an approximate valuation of US$ 3,017.88 Mn in the forecast period.

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What are the Key Trends in the Market for Roasted Soybean?

“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.

“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.

“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.

“Focusing on Usage of Innovative Roasting Techniques”

Innovation in roasting technologies is anticipated to be a positive factor for the growth of the roasted grain ingredients market in the foreseeable future. Manufacturers offering roasted soybean ingredients are adopting advanced technologies for producing roasted soybean, which enhances the quality of their ingredient offerings. High amount of roasting some time affects the quality of available nutrients in roasted soybean. Hence, manufacturers are developing innovative roasting technologies to further retain the higher quality of nutrients in their products.

“High Prices of Food Products with Roasted Grain Ingredients Limiting Market Growth”

Roasted grains undergo through multiple process, including drying, steeping, germination, and roasting, which impacts the prices. Moreover, it increases prices of end-use products such as roasted grain snacks, baking products, and others. Hence, some manufacturers may utilize non-roasted grain ingredients to cut down on operating costs and reduce the prices of their end products. This hampers the growth of the roasted grain ingredients market.

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Country-wise Insights

What is the Projected Growth for the Latin America Roasted Soybean 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.

What is the Outlook for the Europe Roasted Soybean Market?

Europe is expected to witness healthy growth over the forecast period of 2023-2033, 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.

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Category-wise Insights

What is the Segmental Breakdown of the Roasted Soybean Market?

On the basis of nature, the roasted soybean market is segmented into organic and conventional. The organic and conventional properties of roasted soybean is recognized by the type of farming of crops. The organic products are derived from farming system which avoids the use of man-made fertilizers, pesticides; growth regulators and livestock feed additives and certified from the authorities such as USDA organic and EU organic.

On the basis of form, roasted soybean market is segmented into whole, splits and flour.

On the basis of end use, the roasted soybean market is segmented into into beverages, bakery, snacks & convenience food, animal feed, and others. Others includes dairy, confectionery, meat products, and others.

Which Nature and Form of the Roasted Soybean is Expected to Grow in the Forecast Duration?

The organic segment, in terms of nature, is projected to register the highest CAGR in the global roasted soybean market over the forecast period of 2023-2033.

The flour segment, under form, is projected to register a significant growth rate in the global roasted soybean market over the forecast period while whole roasted soybean has been gaining popularity as a healthy snack across the globe

Competitive Dashboard

Key players in the global roasted soybean market are focusing on increasing their penetration in markets such as Europe, Asia Pacific, and the Middle East and Africa, to expand their regional footprint. Some of the major players in the global roasted soybean market, such as SunOpta Inc., KLC Farms Roasting Inc., Natural Products, Inc., Jabsons Foods, Mindals AGRO, and others, are engaged in increasing their organic portfolios, owing to the increased demand for organic roasted soybean products. In addition, these key players are focused on providing clean label, gluten-free, non-GMO products to end-user industry verticals and consumers. They are also emphasizing on using latest technology to produce the highest quality and most consistent roasted soybeans in the industry.

• SunOpta Inc. is increasing its focus on product range of roasted grain snacks to further increase its consumer base for healthy snacks.
  • For instance, in December 2017, company has made the significant investment in in its roasted snacks operations at its facility in Crookston, U.S.
• In 2019, Jabsons Foods has awarded with best MSME by CM Vijay Rupani at Vibrant Gujarat Summit –Gandhinagar. This is considered as one of the reputed awards among Micro, Small and Medium Enterprises.
• N. L. Food Industries have a team of expert professionals who are aware of the quality standards, it procures the best ingredients from surrounding places. Quality is ensured while procuring the ingredients and at all levels of processing.
• Natural Products, Inc. markets its products worldwide, exporting to over 15 countries on just about every continent, and engaged in increasing its global reach by increasing its export capabilities.

Roasted Soybean Industry Report Scope

Roasted Soybean Industry Research by Category

By Nature:

• Organic
• Conventional

By Form:

• Whole
• Splits
• Flour

By End Use:

• Beverages
• Bakery
• Snacks & Convenience Food
• Animal Feed
• Others

By Region:

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa