USD 31,990.67 million
Report ID: SQMIG30C2115 | Region: Global | Published Date: November, 2023 | Pages: 157 | Tables: 119 | Figures: 77
Global Non-GMO Soybean Market size was valued at USD 31,990.67 million in 2021 and is poised to grow from USD 32.998.89 million in 2022 to USD 60,675.15 million by 2030, growing at a CAGR of 7.3% in the forecast period (2023-2030).
The forecast period anticipates a notable surge in consumer awareness regarding labeling laws and product quality, notably propelling the demand for non-GMO soybeans.
This growing consumer knowledge is a driving force behind the escalating preference for non-GMO soybeans, indicated by an exponential rise in demand and the accompanying premium on these products. Non-GMO soybeans, distinguished by their absence of genetic modification, are gaining traction due to their inherent advantages over genetically modified counterparts, drawing attention for their natural origins.
This growing market for non-GMO soybeans is bolstered by the expanding cultivation of these beans and the favorable profit margins offered by soybean products.
As a result, the non-GMO soybean industry is witnessing robust growth, a trend expected to persist owing to the rising demand and the distinctive advantages offered by these natural, unmodified soybeans.
Global Market Size
USD 31,990.67 million
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The global non-GMO soybean market is segmented into three major segments i.e. by type, application and region. Based on type the market is segmented as, plain non-GM soybeans, RTRS-certified non-GM soybeans, organic Non-GM soybeans. Based on application the market is segmented as, animal feed, human consumption, others. Based on end-users the market is segmented as, domestic, industrial, commercial, others. Based on region the market is segmented as, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Analysis by Application
The soybean oil segment commands the largest market share and is poised to exhibit a robust CAGR of 8.57% throughout the forecast period. Non-GMO Soybean finds extensive application in the production of soy oil, particularly in the edible oil category, owing to its natural, non-genetically modified, or organic nature. The global consumption of Non-GMO soy edible oil remains notably high, driven by its inherent qualities.
The soybean meal segment plays a pivotal role within the non-GMO soybean market, representing a vital byproduct derived from the crushing process of soybeans. This segment holds immense significance, notably in animal feed production across various industries. Renowned for its richness in protein and essential amino acids, soybean meal serves as a fundamental source of nutrition for livestock, poultry, and aquaculture. Its high protein content renders it indispensable in formulating well-rounded and nourishing diets for animals, contributing significantly to their growth, development, and overall health.
Analysis by Product
The crush soybean segment stands as the predominant force within the Non-GMO Market, anticipated to maintain its dominance throughout the forecast period. Soybeans, cultivated globally in accordance with varying climatic conditions, yield diverse types of soybean varieties available in the market. Over 85% of the world's soybean production is directed towards the crush segment, processing soybeans into vital derivatives like soy meal and oil.
The whole soybeans segment plays a crucial role in the non-GMO soybean market as a primary and versatile product within the soybean industry. Whole soybeans represent the unprocessed form of this agricultural commodity, retaining their natural state without undergoing extensive refining or extraction processes. This segment holds significance across various applications, serving both human and animal nutrition needs. Whole soybeans are a key ingredient in plant-based diets, offering a rich source of protein, essential amino acids, and other nutrients.
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North America emerges as the foremost market for non-GMO soybean products, primarily harnessed for medicinal applications. The region extensively utilizes soybean in various medicinal formulations, whether in powdered or oil forms, owing to its perceived health benefits. The population in North America exhibits a heightened awareness and concern for health, leading to a notable preference for protein-rich food sources, including soybean protein, within their dietary choices.
The Asia-Pacific has experienced rapid growth driven by several factors. The region's increasing population, coupled with a growing inclination toward healthier lifestyles and a preference for organic products, has fueled a significant surge in demand for non-GMO soybeans.
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Growing Adoption of GMO Soybeans
Lack of Awareness Regarding the Benefits of Non-GMO Products
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The competitive environment of the global non-GMO soybean market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global non-GMO soybean market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The surge in consumer awareness pertaining to labeling regulations and product quality is poised to become a significant driver of market demand within various industries. This increasing awareness among consumers, particularly regarding the transparency of labeling regulations and the overall quality standards of products, is expected to exert a notable influence on purchasing behaviors. As consumers become more vigilant and informed about the ingredients, manufacturing processes, and origins of products, there's a growing preference for goods that align with their values and meet stringent quality benchmarks.
|Market size value in 2021||USD 31,990.67 million|
|Market size value in 2030||USD 60,675.15 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Non-GMO Soybean Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Non-GMO Soybean Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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