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According to a new report, published by KBV research, The Global Soybean Meal Market size is expected to reach $78.2 billion by 2028, rising at a market growth of 5.1% CAGR during the forecast period.
The Online segment is showcasing a CAGR of 5.6% during (2022 - 2028). Due to their ease of operation and the lightning-fast speed with which they can be accessed, online marketplaces are increasingly preferred for the purchase of soybean meals. As a consequence of time-saving features, simple access to information on the components used in soybean meal products, and the possibility of home delivery, online sales of soybean meal products are growing at an increasing rate.
The Conventional segment acquired maximum revenue share in the Global Soybean Meal Market by Nature in 2021 thereby, achieving a market value of $56.8 billion by 2028. This might be ascribed to the cheap cost as well as the simple accessibility of ordinary soybean meals. Conventionally prepared soybean meals include an acceptable quantity of proteins and vitamins, making them suitable for consumption by children, adults, and animals.
The Food Industry segment is showcasing a CAGR of 5.3% during (2022 - 2028). In addition to being used for human consumption in food items such as bakery goods and nutritious products, soybean meal is also regarded as an alternative to consuming animal products in order to meet the body's requirements for a source of protein. The worldwide market for soybean meal is being driven forward by the many applications of soybean meal as well as the widespread availability of soybean meal.
The Asia Pacific market dominated the Global Soybean Meal Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $29.1 billion by 2028. The North America market is exhibiting a CAGR of 4.4% during (2022 - 2028). Additionally, The Europe market would showcase a CAGR of 4.9% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/soybean-meal-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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