Global High Oleic Soybean Market Size By Type of Product, By End-Use Applications, By Distribution Channels, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global High Oleic Soybean Market Size By Type of Product, By End-Use Applications, By Distribution Channels, By Geographic Scope And Forecast
High Oleic Soybean Market Size And Forecast
The global High Oleic Soybean Market size was valued at USD 449 Million in 2023 and is projected to reach USD 1025 Million by 2030, growing at a CAGR of 12.4%during the forecast period 2024-2030.
Global High Oleic Soybean Market Drivers
Various factors that contribute to the growing demand for soybeans with enhanced amounts of oleic acid are driving the market for high-oleic soybeans. The market for high-oleic soybeans is driven by the following major factors
Health BenefitsRich in monounsaturated fats, especially oleic acid, high oleic soybeans are rich in nutrition. High oleic soybeans are a popular choice for people who are concerned about their health because of the benefits these good fats have for the heart, including lower cholesterol.
Decreased Trans Fat ContentWhen compared to conventional soybean oil, high oleic soybean oil has less saturated and trans fat. With the growing emphasis on lowering trans fat intake for heart health, high oleic soybeans present a better option.
Extended Shelf LifeBecause high oleic soybean oil resists oxidation, products prepared with it are more stable and have a longer shelf life. For food makers trying to increase the longevity and quality of their products, this is very helpful.
Versatility in Food ApplicationsThe stability and neutral flavor of high oleic soybean oil make it ideal for a range of culinary uses, such as baking, frying, and salad dressings. Food processors and manufacturers are driven to want it by its adaptability in the food sector.
Consumer Awareness and PreferencesThe market is expanding as a result of consumers’ growing knowledge of the advantages of high-oleic soybean oil for their health and their growing choice for healthier cooking oils.
Food Industry DemandBecause of its stability, neutral flavor, and health advantages, high oleic soybean oil is being used more and more by the food industry, which includes eateries and food producers, in their cooking procedures.
Regulatory SupportThe market is growing because health organizations and regulatory agencies support the use of oils with greater oleic acid content. High oleic soybean adoption and acceptance are facilitated by supportive laws and policies.
Sustainable Agriculture PracticesIn line with the expanding demand for products that are supplied ethically and with minimal impact on the environment, high oleic soybeans can be produced through the use of sustainable agriculture practices.
Reduced Dependency on Tropical OilsAs a local and sustainable substitute for tropical oils like palm oil, high oleic soybean oil is available. The less reliance on tropical oils solves ethical and environmental issues related to the production of palm oil.
Food Industry TrendsThe characteristics of high oleic soybeans are in line with trends like clean label, non-GMO, and natural ingredients in food goods, which propels their adoption into a variety of food items.
Global High Oleic Soybean Market Restraints
The market for high-oleic soybeans is driven by a number of factors, but its expansion may also be hampered by a few obstacles. The market for high-oleic soybeans is often constrained by the following factors
Restricted Adoption Compared to Conventional SoybeansConventional soybean varieties that have gained widespread adoption pose a threat to high oleic soybeans. Convincing farmers to switch to high oleic cultivars is a task that may need for incentives and education.
Challenges in Supply Chain and Infrastructure The requirement for a specialized supply chain infrastructure, including distinct handling and processing facilities, may limit the use of high oleic soybeans. Creating and deploying this kind of infrastructure can be very difficult.
fluctuation in productionWhen compared to traditional varieties, certain high oleic soybean cultivars may show fluctuation in production. If farmers believe there is a chance of decreased yields, they might be hesitant to use these kinds.
Cost and Seed AvailabilityAdoption may be hampered by the expense and lack of access to high oleic soybean seeds. Farmers can be reluctant to spend money on new seeds, particularly if they are substantially more expensive than traditional soybean seeds.
Challenges with Consumer adoptionDespite the health advantages of high-oleic soybean oil, there may still be a lack of consumer awareness and adoption. It can be difficult to persuade people to move from well-known cooking oils to high-oleic soybean oil.
Market Competition from Other OilsCanola, sunflower, and olive oils—all of which are thought to have health benefits—compete with high oleic soybean oil. It can be difficult to stand out from the competition and place high oleic soybean oil in a crowded market.
Genetic ModificationConcerns over genetically modified organisms (GMOs) may exist among certain consumers and marketplaces. Since biotechnology is frequently used to generate high oleic soybeans, resolving GMO issues might be essential for increased market adoption.
Climate and Growing ConditionsCertain high-oleic soybean cultivars may require a particular combination of climate and growing conditions. It can be difficult to adjust these types to different temperatures and guarantee steady performance.
Market Education and AwarenessIt might take a lot of work to inform farmers, food processors, and consumers about the advantages of high-oleic soybeans. A lack of knowledge may prevent these types from being widely adopted.
Regulatory Approval and ComplianceDepending on the location, high oleic soybeans may need regulatory authorization. To gain access to markets, laws must be followed and any obstacles must be removed.
Global High Oleic Soybean Market Segmentation Analysis
The Global High Oleic Soybean Market is Segmented on the basis of Type of Product, End-Use Applications, Distribution Channels, and Geography.
High Oleic Soybean Market, By Type of Product
High Oleic Soybean Seeds The raw seeds used for cultivation.
High Oleic Soybean Oil Extracted from high oleic soybean seeds for various applications.
High Oleic Soybean Market, By End-Use Applications
Food Industry High oleic soybean oil used in cooking, frying, baking, salad dressings, and food processing.
Foodservice High oleic soybean oil used in restaurants, catering, and other foodservice establishments.
Industrial Uses High oleic soybean oil for industrial applications, such as biodiesel production and industrial processes.
High Oleic Soybean Market, By Distribution Channels
Direct Sales to Farmers Seed companies selling high oleic soybean seeds directly to farmers.
Agribusiness and Distributors Distribution through agribusinesses and agricultural input distributors.
Food Manufacturers and Processors High oleic soybean oil supplied to food manufacturers and processors.
High Oleic Soybean Market, By Geography
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the High Oleic Soybean Market in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the High Oleic Soybean Market are
Bayer CropScience
Corteva Agriscience
Syngenta AG
BASF SE
DowDuPont
Report Scope
Report Attributes
Details
Study Period
2020-2030
Base Year
2023
Forecast Period
2024-2030
Historical Period
2020-2022
Unit
Value (USD Million)
Key Companies Profiled
Bayer CropScience, Corteva Agriscience, Syngenta AG, BASF SE, and DowDuPont.
Segments Covered
By Type of Product, By End-Use Applications, By Distribution Channels, and By Geography.
Customization scope
Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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