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Follow on Google News | Soybean Market & Volume By Countries, Companies, Global Forecast By 2027Soybean Market would be US$162.36 Billion by 2027. Global Forecast By Consumption, Production, Import, Export Countries, and Company Analysis.
By: Renub Research The global soybean market is majorly being operated and controlled by the crushing industry, where soy meal, soy oil, and other soy products are extracted. The increase in demand for high-quality protein & nutritional properties encourages high soybean production. Some of the factors driving the Soybean market are the rising market for adhesives, insecticides, candles, printing inks, waxes, plastic etc. The rise of the middle-class population and the expansion of urbanization are also boosting the rise of the soybean market. For the year 2020, Worldwide Soybean Market was US$ 127.81 Billion. In the United States, places like Minnesota, Iowa, Indiana, Illinois and Nebraska are the major producer of soybean globally. Americans extensively use soybean for biofuel and feedstock as compared to the food and feed industry. According to our research findings, Global Soybean Industry is expected to grow with a CAGR of 3.48%. As per consumption, China is the biggest consumer. Soybean is widely used as vegetable oil and has great industrial applications (soy milk, soy flour, soy protein etc.). The spread of COVID-19 and continuous lockdown had a very nominal effect on soy industries. Still, as restaurants were not operating during pandemic, soy oil, one of the main soybean products had faced a significant drop in production and consumption. About the Company: Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to- Contact Us: Renub Research Phone No: +1 678–302–0700 (USA) | +91–120–421– Email: info@renub.com Web: https://www.renub.com Follow the link for the full report with detailed TOC and list of figures and tables: https://www.renub.com/ End
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