The Europe Soybean Meal Market would witness market growth of 4.9% CAGR during the forecast period (2022-2028).
The profitability of soybean farmers is improved when the quality of soybeans is raised to a higher standard. It is simple to cultivate soybeans with increased quantities of protein and oil. Soybean meal is an essential component of the daily diet of dairy animals like cattle and buffalo. This is because soybean meal stimulates increased milk production in dairy animals.
In addition, soybean meal is used to provide animals, such as pigs, ruminants, and poultry, with the nutrition they need to put on weight in order to fulfill the increasing demand for meat. It has been shown that the antigens in SBM that induce allergic responses in weanling pigs may be removed by enzymatic processing of SBM.
Therefore, it is feasible to create SBM that has been treated with enzymes and that weanling pigs are able to tolerate. The HP 300 is a product that was created utilizing this technology (Hamlet Protein, Horsens, Denmark). Because carbs, oligosaccharides, and antigens were eliminated during the enzymatic process, this product contains higher amounts of protein and AAs than ordinary SBM.
ADM made the announcement that it will be investing a significant amount of money in December 2022 so that its oilseeds plant in Mainz, Germany, would be able to process non-genetically modified soybeans. It is expected that the project will be finished in the third quarter of 2023, and it comes after a similar investment was made in the oilseeds processing facility owned by the corporation in Straubing, Germany, in 2016. In Germany's larger food industry, soybeans are playing an increasingly significant role, and this trend is expected to continue. The firm is thrilled to continue to increase the capability to process non-GMO soybeans in order to fulfill the rising demand across the human and animal nutrition industries while simultaneously providing local farmers with more options to sell their harvests. It is anticipated that this would further stimulate growth in the market for soybean meals in Europe.
The Germany market dominated the Europe Soybean Meal Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,174.8 Million by 2028. The UK market is anticipated to grow at a CAGR of 4% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 5.6% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Soybean Meal Market will Hit $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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