The North America Soybean Meal Market would witness market growth of 4.4% CAGR during the forecast period (2022-2028).
In comparison to cereal grains, soybean meal has a higher concentration of calcium and phosphorus. In recent years, full-fat roasted soybeans have emerged as an important component of the diets of dairy cattle, especially in countries that have a high standard of living. It has also been established that feeding full-fat soybeans may raise milk concentrations of conjugated linoleic acid, a chemical that has been related to a decreased risk of cancer in individuals.
Soybeans are the oilseed crop that is grown in the greatest quantity on a scale. Soybeans are a crop that is grown seasonally and may flourish in many different types of conditions. The oil content of soybeans ranges from 16–21% on average, and the bean is normally extracted using a solvent.
Education of nutritionists, veterinarians, animal producers, and feed makers enables these individuals to enhance their operations, which in turn promotes demand for soybean meal produced in the United States. The expansion of the local market would be boosted by the rising popularity of plant-based foods among younger and more varied groups of consumers in the United States. As per the Centers for Disease Control and Prevention (CDC), in the year 2020, there will be 34.1 million persons in the United States of America between the ages of 20 and 79 who suffer from diabetes. This would result in an increase in demand for nutritious food items, such as plant-based alternatives to meat, in the area.
The US market dominated the North America Soybean Meal Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $16,411.1 Million by 2028. The Canada market is poised to grow at a CAGR of 6.5% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 6.2% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into Offline, Online, and B2B. Based on Nature, the market is segmented into Conventional, and Organic. Based on Application, the market is segmented into Animal Feed Industry, Food Industry, and Pharmaceutical. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Soybean Meal Market is Estimated to reach $78.2 Billion by 2028, at a CAGR of 5.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bunge Limited, Louis Dreyfus Company B.V., Kemin Industries, Inc., The Scoular Company, Mamta Hygiene Products Pvt. Ltd, Mahesh Agro Food Industries, Nordic Soya Ltd., Denofa AS (Amaggi Agropecuária), DHN International, and Minnesota Soybean Processors.
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