Roasted Soybean Market Estimated to Reach US$ 3,017.88 Mn by 2033 - Persistence Market Research

The roasted soybean market is experiencing a robust rise, supported by growing health consciousness, plant-based food demand, and expanding animal feed requirements. According to recent market evaluations, the global roasted soybean market was valued at US$ 1,717.30 million in 2023 and is projected to reach US$ 3,017.88 million by 2033, growing at a CAGR of 5.80% during the forecast period.

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One of the most significant growth drivers in this space is the increasing consumption of roasted soybeans in both the human food and animal feed industries. Rich in protein, fiber, omega-3 fatty acids, and antioxidants, roasted soybeans are favored by health-conscious consumers, vegetarians, and vegans alike. Among market segments, organic roasted soybeans are witnessing rapid growth due to consumer preference for chemical-free, clean-label food. Geographically, Latin America leads the market owing to its large-scale soybean production and extensive use of roasted soybean in food and feed industries, while Europe follows closely due to its booming dairy industry and rising trend toward plant-based diets.

Key Highlights from the Report:

➤ The global roasted soybean market is projected to grow at a CAGR of 5.80% between 2023 and 2033.
➤ Organic roasted soybeans are anticipated to record the highest growth rate during the forecast period.
➤ Latin America holds a significant value share in the roasted soybean market due to high soybean production.
➤ The flour form of roasted soybean is gaining popularity in bakery and processed food applications.
➤ Feed industry remains a critical driver, particularly for dairy cows and ruminants.
➤ Europe is emerging as a promising region owing to increased dairy consumption and healthy lifestyle trends.

Market Segmentation

By nature, the market is categorized into organic and conventional. The organic segment is gaining momentum as consumers demand more transparent sourcing and certification like USDA Organic and EU Organic. Organic roasted soybeans, which avoid synthetic pesticides and fertilizers, are preferred in premium markets.

In terms of form, the market includes whole, splits, and flour. Whole roasted soybeans are popular as convenient and protein-rich snacks. The flour form, on the other hand, is witnessing increasing demand in the bakery segment due to its ability to absorb water, extend shelf life, and improve nutritional content.

Based on end use, roasted soybeans are used in beverages, bakery, snacks & convenience foods, animal feed, and others, which include dairy, confectionery, and meat substitutes. Among these, animal feed and bakery applications are the leading segments. Roasted soybean flour improves texture and nutrition, especially in cakes, bread, and other baked goods, while its digestibility makes it ideal for livestock.

Regional Insights

Latin America emerges as the leading region in the global roasted soybean market, driven by its high soybean output and widespread consumer awareness about its uses in both human food and animal feed. Countries like Brazil and Argentina are leveraging their agricultural capacities to boost exports of roasted soybean and its derivative products.

Europe is set to become one of the most lucrative markets over the next decade. With a large dairy cattle population and a booming dairy industry, demand for high-nutrition animal feed is rising. Furthermore, a cultural shift toward healthier lifestyles and vegetarian diets is pushing demand for roasted soybean-based foods.

In North America, especially the U.S., roasted soybeans are consumed both as snacks and in the feed industry. Technological innovations and sustainability initiatives in soybean roasting further contribute to market expansion. Asia-Pacific is another important region with growing adoption of plant-based diets and functional foods.

Market Drivers

The demand for plant-based protein is a core driver of the roasted soybean market. With an increasing number of consumers shifting toward vegetarian and vegan diets, roasted soybeans offer a protein-rich, cholesterol-free alternative to animal products. The growing awareness about functional foods and their health benefits is also propelling the market.

Another key driver is the expanding animal feed industry, where roasted soybeans are used to enhance digestion and milk production in ruminants. Their high digestibility and nutritional value make them suitable for cattle, horses, poultry, and wildlife.

Technological advancements in roasting methods are improving nutrient retention and flavor profiles, which enhances product appeal. Manufacturers are also innovating with different flavor variants and convenient packaging formats to meet diverse consumer needs.

Market Restraints

Despite its promising growth, the roasted soybean market faces several challenges. High production costs resulting from complex processes such as drying, steeping, germination, and roasting contribute to elevated product prices. This makes roasted soy-based products less accessible to cost-sensitive consumers.

Additionally, the availability of cheaper alternatives, including non-roasted soy products and other legumes, may hinder market growth. Manufacturers looking to reduce costs may prefer to exclude roasted ingredients altogether, thereby limiting demand.

Market Opportunities

The increasing inclination toward clean-label and organic food products provides vast opportunities for roasted soybean manufacturers. By offering non-GMO, gluten-free, and certified organic roasted soybean products, brands can tap into health-focused consumer segments.

There's also a significant growth opportunity in the bakery and functional foods sector. Roasted soybean flour can be incorporated into bread, cookies, cakes, and more, enhancing both taste and nutrition. Furthermore, the export potential for roasted soybeans, especially to emerging economies and health-conscious markets, presents avenues for global expansion.

With growing awareness of animal health, particularly in the dairy industry, feed-grade roasted soybeans can see heightened demand, creating opportunities in agribusiness and animal nutrition sectors.

Frequently Asked Questions (FAQs):

◆ How big is the roasted soybean market?
◆ Who are the key players in the global market for roasted soybean?
◆ What is the projected growth rate of the roasted soybean market?
◆ What is the market forecast for roasted soybean for 2032?
◆ Which region is estimated to dominate the industry through the forecast period?

Company Insights

The roasted soybean market features several prominent players competing through innovation, regional expansion, and diversification of product offerings. Key companies include:

• 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

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This release was published on openPR.