PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1527929
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1527929
The market for roasted soybean is poised for significant growth, driven by increasing demand from various sectors such as the feed industry, bakery, and health-conscious consumers. Valued at $1.80 billion in 2024, the market is expected to reach $2.74 billion by 2031, exhibiting a CAGR of 6.10% Roasted soybeans are known for their high protein content, fiber, and essential nutrients, making them a popular choice for both human and animal consumption.
Roasted Soybean Consumption Analysis
The global roasted soybean market has seen notable growth in recent years. Soybeans are highly valued for their nutritional benefits, including being rich in omega-3 fatty acids and antioxidants, and are a preferred source of plant-based protein. Manufacturers are focusing on producing minimally processed roasted soybeans that retain all essential nutrients and offer various flavor profiles. These products are gaining widespread popularity among consumers globally.
Example: Mindals AGRO, an India-based company, produces flavored roasted soybeans available in pack sizes ranging from 50g to 180g.
Key Trends in the Roasted Soybean Market
Feed Industry - Key Growth Driver
The feed industry is a significant consumer of soybeans and soy-based ingredients, primarily in the form of raw soybeans. Roasted soybeans are beneficial for animal digestion, especially in ruminants, promoting increased milk production in dairy cows due to their high digestibility and nutrient content. They are also suitable for feeding horses, goats, sheep, buffaloes, and wildlife animals, contributing to the anticipated growth of the global roasted soybean market.
Example: Bryant Grain Company in the U.S. offers roasted soybeans in whole and pellet forms for various animal categories, including ruminants, poultry, wildlife, swine, and equine.
Nutrition First for Vegetarian and Vegan Consumers
The growing vegetarian and vegan population prefers plant-based proteins for their nutritional needs. Many individuals choose a vegan diet for its perceived health benefits over animal-based protein products. Roasted soybeans are an excellent source of nutrition for vegan and vegetarian consumers, who prioritize improving their health through food. This trend is expected to drive the growth of the roasted soybean market worldwide.
Rising Demand from Bakery Producers
Roasted soybean flour enhances dough's water absorption, increases yield, and extends the shelf life of bakery products. These attributes provide additional benefits to bakery manufacturers, as the flour also increases the overall nutritional content of the final products. Consequently, roasted soybean bakery products are gaining traction among consumers for their nutritional value and taste.
Example: Natural Products, Inc. uses roasted full-fat soy flour in bakery products to increase dough water absorption, which boosts yield and extends shelf life. This flour is also used in cakes and donuts to reduce oil absorption during frying.
Innovative Roasting Techniques
Innovation in roasting technologies is expected to positively impact the roasted grain ingredients market. Manufacturers are adopting advanced technologies to produce high-quality roasted soybeans while retaining their nutritional content. High roasting temperatures can sometimes degrade nutrient quality, prompting manufacturers to develop innovative roasting methods to maintain nutrient integrity.
High Prices of Food Products with Roasted Grain Ingredients
The multiple processes involved in producing roasted grains, such as drying, steeping, germination, and roasting, contribute to higher prices. This can increase the cost of end-use products like roasted grain snacks and baked goods. As a result, some manufacturers may opt for non-roasted grain ingredients to lower operating costs and reduce product prices, which can limit market growth.
Country-wise Insights
Latin America
Latin America is a leading producer and consumer of soybeans, with consumers in the region highly aware of soybeans' diverse applications. Roasted soybeans are widely used in food and beverage products such as snacks, convenience foods, bakery items, and feed products to promote animal health. These factors are expected to drive the roasted soybean market's growth in Latin America.
Europe
Europe is anticipated to experience healthy market growth, driven by the region's large dairy industry and the growing trend of living a healthy lifestyle. European countries are emerging as potential markets for roasted soybean manufacturers. The increasing awareness of the health benefits associated with roasted soybeans is expected to boost market growth in Europe.
Category-wise Insights
Nature
The roasted soybean market is segmented into organic and conventional based on nature. Organic roasted soybeans are derived from farming systems that avoid synthetic fertilizers, pesticides, growth regulators, and livestock feed additives, and are certified by authorities such as USDA Organic and EU Organic.
Form
Roasted soybeans are available in various forms, including whole, splits, and flour. The flour segment is projected to register significant growth, while whole roasted soybeans are gaining popularity as a healthy snack.
End Use
The roasted soybean market is segmented by end use into beverages, bakery, snacks and convenience food, animal feed, and others, including dairy, confectionery, and meat products. The bakery segment, in particular, is expected to see robust growth due to the benefits roasted soybean flour provides in enhancing dough yield and shelf life.
Competitive Analysis
Key players in the global roasted soybean market are focusing on expanding their presence in markets such as Europe, Asia Pacific, and the Middle East and Africa. Companies are increasing their organic product portfolios to meet the growing demand for organic roasted soybean products. They are also emphasizing clean label, gluten-free, and non-GMO products, leveraging the latest technology to produce high-quality, consistent roasted soybeans.
Company Profiles
Market Segmentation
By Nature
By Form
By End Use
By Region