Roasted Soybean Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The roasted soybean market is anticipated to witness substantial growth, driven by the increasing demand for high-protein, plant-based food products.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, rich in protein, fiber, omega-3 fatty acids, and antioxidants, are gaining popularity due to their nutritional benefits and versatile uses. The market's expansion is supported by the rising preference for minimally processed, nutritious food options among consumers worldwide.

Key Market Trends

Feed Industry as a Key Growth Driver

The feed industry is a significant consumer of roasted soybeans, using them to enhance the nutritional quality of animal feed. Roasted soybeans improve digestion and milk production in ruminants and are also beneficial for horses, goats, sheep, buffaloes, and wildlife animals. The nutritional benefits of roasted soybeans in animal feed are expected to drive market growth.

• Example: Bryant Grain Company, based in the U.S., offers roasted soybeans in whole and pellet forms for various animal categories, including ruminants, poultry, and swine.

Nutrition First for Vegetarian and Vegan Consumers

The growing vegetarian and vegan population is fueling the demand for plant-based proteins. Roasted soybeans are an excellent source of nutrition for these consumers, who prioritize health and wellness. This trend is anticipated to boost the roasted soybean market globally.

Rising Demand from Bakery Producers

Roasted soybean flour is increasingly used in the bakery industry to enhance the nutritional content and shelf life of products. It improves water absorption in dough, leading to higher yields and extended shelf life. These benefits are attracting bakery manufacturers to incorporate roasted soybean flour in their products.

• Example: Natural Products, Inc. uses roasted full-fat soy flour in bakery products to increase dough water absorption, extending the shelf life and reducing oil absorption during frying.

Innovative Roasting Techniques

Advancements in roasting technologies are expected to positively impact the roasted soybean market. Manufacturers are adopting innovative roasting methods to maintain the nutritional quality of soybeans, thereby enhancing the quality of their products.

High Prices of Roasted Grain Ingredients

The multiple processing steps involved in roasting grains, including drying, steeping, germination, and roasting, contribute to higher costs. These costs are reflected in the prices of end-use products such as snacks and bakery items, potentially limiting market growth. Some manufacturers might opt for non-roasted grain ingredients to reduce costs.

Regional Insights

Latin America

Latin America is a leading producer and consumer of soybeans, with consumers widely using roasted soybeans in food and beverages, snacks, bakery products, and animal feed. The region's familiarity with soybeans and their benefits is expected to drive market growth.

Europe

Europe is projected to experience healthy growth, driven by the region's large dairy industry and the growing trend of healthy living. The increasing use of roasted soybeans in various applications is anticipated to accelerate market expansion.

Segmental Analysis

The roasted soybean market is segmented based on nature, form, and end use:

• Nature: The market is divided into organic and conventional products. Organic roasted soybeans, derived from farming systems that avoid synthetic fertilizers and pesticides, are expected to register significant growth.
• Form: The market includes whole, split, and flour forms of roasted soybeans. Whole roasted soybeans are gaining popularity as healthy snacks, while the flour segment is projected to grow due to its applications in bakery products.
• End Use: The market is segmented into beverages, bakery, snacks and convenience foods, animal feed, and others, including dairy, confectionery, and meat products.

Competitive Analysis

Key players in the roasted soybean market are focusing on expanding their regional presence, particularly in Europe, Asia Pacific, and the Middle East and Africa. These companies are also enhancing their product portfolios to include organic, gluten-free, and non-GMO options, meeting the growing demand for healthy and clean-label products.

• SunOpta Inc.: Increasing its focus on roasted grain snacks to expand its consumer base.
• Jabsons Foods: Awarded best MSME by CM Vijay Rupani at the Vibrant Gujarat Summit, highlighting its prominence among small and medium enterprises.
• Natural Products, Inc.: Exporting its products to over 15 countries, demonstrating its global reach and increasing export capabilities.

Company Profiles

• 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

Market Segmentation

By Nature

• Organic
• Conventional

By Form

• Whole
• Splits
• Flour

By End Use

• Beverages
• Bakery
• Snacks & Convenience Food
• Animal Feed
• Others (including dairy, confectionery, and meat products)

By Region

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa

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