#Soybean Market forecast

[sabrinawillson03]

Title: Global Soybean Market Growth: Trends, Drivers, and Future Outlook (2024-2032)

Introduction

The global soybean market was valued at USD 157.61 billion in 2023 and is projected to grow at a CAGR of 4.1% from 2024 to 2032, reaching an estimated value of USD 226.27 billion by 2032. Soybeans, one of the most essential and versatile crops globally, play a critical role in meeting the nutritional needs of a growing global population. With demand expanding across various sectors, including food, animal feed, and biofuels, the soybean market is positioned for substantial growth in the coming years.

This article explores the key drivers, trends, challenges, and future prospects of the soybean market. We will dive into the various factors fueling this growth and discuss what businesses and investors need to know about the evolving landscape of the soybean industry.

Soybean Market Overview

Soybeans are a legume that serves as a vital source of plant-based protein, oil, and other products for both human and animal consumption. The global soybean market is influenced by a variety of factors, including agricultural practices, production levels, international trade policies, and changing consumer preferences.

Soybeans are primarily produced in countries like the United States, Brazil, Argentina, China, and India, which together account for the largest share of global production. Soybeans are used in a multitude of products such as cooking oil, animal feed, dairy alternatives, and processed foods like tofu and soy milk. In recent years, soybeans have also gained popularity in the biofuel sector, particularly in the production of biodiesel.

Key Drivers of Soybean Market Growth

1. Growing Demand for Plant-Based Proteins

One of the most significant factors contributing to the growth of the soybean market is the rising demand for plant-based proteins. As more people adopt vegetarian, vegan, and flexitarian diets, soybeans have emerged as a primary source of protein. This trend has been particularly evident in developed markets like North America and Europe, where consumers are increasingly seeking sustainable, plant-based alternatives to animal protein sources.

Soy protein is widely used in meat substitutes, protein powders, and dairy alternatives. The growing consumer interest in healthier and more sustainable diets is expected to drive continued growth in the demand for soybean-based products.

2. Expansion of the Animal Feed Industry

The soybean market is also benefiting from the continued growth of the animal feed industry. Soybean meal, which is a by-product of soybean oil extraction, is one of the most common protein sources used in livestock feed, particularly for poultry, swine, and aquaculture. As global meat consumption rises, driven by population growth and increasing disposable incomes in emerging economies, demand for soybean meal is expected to continue to grow.

China, in particular, is one of the largest importers of soybeans, as it relies heavily on soybean meal for livestock production. The expansion of the global animal feed market is, therefore, a key growth driver for the soybean market.

3. Technological Advancements in Soybean Farming

Technological advancements in farming techniques have greatly enhanced soybean yields. The development of genetically modified (GM) soybeans, which are resistant to pests, diseases, and environmental stressors, has contributed to higher crop yields and more efficient farming practices. These innovations have enabled farmers to meet the growing global demand for soybeans while also reducing the environmental impact of soybean production.

Additionally, improved farming equipment, precision agriculture, and innovative irrigation techniques are allowing for more efficient land use, further supporting the soybean market's growth.

4. Increasing Utilization in Biofuels

The use of soybeans in biofuels is also driving market growth. Soybean oil is a key ingredient in the production of biodiesel, which is gaining traction as an alternative to traditional fossil fuels. With growing concerns about the environmental impact of petroleum-based fuels, biodiesel derived from soybeans is seen as a sustainable option. As countries around the world increase their focus on renewable energy and reducing carbon emissions, demand for soybean-based biofuels is expected to rise.

The U.S., Brazil, and Argentina are key players in this sector, with large-scale biodiesel production plants that use soybean oil as a primary feedstock.

5. International Trade and Supply Chain Growth

International trade plays a crucial role in the growth of the global soybean market. Brazil, Argentina, and the United States are among the top exporters of soybeans, and countries in Asia—especially China—are the largest importers. Trade agreements, tariffs, and market access are essential factors influencing the global soybean supply chain.

China's position as the world's largest importer of soybeans is vital to the market's dynamics, and shifts in China’s import policies or domestic production levels can significantly impact global soybean demand.

Challenges Facing the Soybean Market

1. Environmental and Climate Change Issues

Soybean farming is sensitive to environmental changes, and climate change poses a significant threat to production levels. Extreme weather events such as droughts, floods, and unpredictable temperature fluctuations can negatively affect soybean crop yields. Farmers may face challenges in ensuring stable production due to these environmental factors.

Additionally, concerns regarding deforestation and land-use change associated with large-scale soybean production, particularly in Brazil's Amazon rainforest, have raised environmental and social issues. Efforts to mitigate the impact of soybean cultivation on sensitive ecosystems will be crucial for the future sustainability of the market.

2. Volatility in Global Soybean Prices

Soybean prices are subject to fluctuations due to various factors, including crop yields, weather conditions, and global supply-demand imbalances. The volatility in global prices can create uncertainty for producers and investors. Price fluctuations are particularly influenced by key exporters such as the U.S. and Brazil, and shifts in import demand from countries like China can create significant price movements.

3. Trade Uncertainty and Geopolitical Risks

The soybean market is vulnerable to trade uncertainties and geopolitical risks. For example, trade disputes and tariff impositions between major soybean exporters like the U.S. and China can disrupt the global supply chain. The ongoing U.S.-China trade war and its impact on soybean exports is a prime example of how international politics can affect the market.

As the global economy continues to face geopolitical tensions, soybean producers and exporters must navigate shifting trade policies and market access restrictions.

Future Outlook of the Soybean Market (2024-2032)

The soybean market is expected to continue its positive growth trajectory over the next decade. With a CAGR of 4.1%, the market is poised to reach USD 226.27 billion by 2032.

Key Factors to Watch:

Plant-based Protein Demand: The shift towards plant-based diets and meat alternatives will continue to fuel the demand for soy protein.

Technological Innovations: Advancements in GM soybeans and farming technologies will help improve crop yields and sustainability.

Sustainability and Biofuels: The use of soybeans for biofuel production will increase as demand for renewable energy rises globally.

International Trade: Trade agreements and political stability will remain crucial factors influencing soybean supply and demand.

As global populations continue to rise and dietary patterns evolve, the demand for soybeans will likely remain strong. However, the industry must address environmental challenges and adapt to changing trade dynamics to maintain sustainable growth.

Here is some additional information that could further enhance the understanding of the global soybean market and its dynamics:

1. Leading Soybean Producing Countries

The global soybean market is primarily driven by a few key producing countries. The top producers and exporters of soybeans are:

United States: The U.S. has long been a leader in soybean production, particularly in states like Iowa, Illinois, Indiana, and Ohio. The U.S. accounts for nearly one-third of global soybean exports, with China being its largest customer.

Brazil: In recent years, Brazil has become the world's largest producer of soybeans, surpassing the U.S. in production volume. The country benefits from a favorable climate for soybean cultivation and has rapidly expanded its agricultural land in the Mato Grosso region. Brazil is also the largest exporter of soybeans, and the growth of its infrastructure, such as ports and logistics networks, has helped it become a dominant player in the global soybean trade.

Argentina: Argentina is another major producer and exporter of soybeans, known for its high-quality crops. Soybeans play a significant role in Argentina’s economy, especially in the export of soybean meal and oil.

China: While China is the largest importer of soybeans globally, it also produces a significant amount of soybeans domestically, primarily in the northeastern and central regions. However, the domestic production is insufficient to meet its demand, which is why China heavily imports soybeans from other countries.

2. Key Soybean Products and Their Uses

Soybeans are incredibly versatile, and their by-products serve a wide range of industries. The key products derived from soybeans include:

Soybean Oil: Soybean oil is the most widely used edible oil globally, employed in cooking, frying, salad dressings, and as a key ingredient in processed food products. It is also used in non-food industries such as biodiesel production, paints, lubricants, and soaps.

Soybean Meal: This by-product of oil extraction is used primarily in animal feed, particularly for poultry, livestock, and aquaculture. Soybean meal is highly valued for its high protein content, making it an essential ingredient in feed formulations.

Tofu and Tempeh: These traditional Asian products made from soybeans are gaining popularity in Western countries as more people adopt plant-based diets. Tofu and tempeh are used as meat substitutes in vegetarian and vegan diets due to their high protein content.

Soy Milk: Soy milk is a widely consumed dairy alternative, especially in vegan and lactose-intolerant populations. It is used as a base for various beverages, desserts, and products like soy yogurt.

Soy Protein Isolate: Soy protein isolate, a refined form of soy protein, is used in health supplements, protein bars, and meat alternatives, particularly in products such as veggie burgers, soy sausages, and plant-based burgers.

Soy Lecithin: A by-product of soybean oil extraction, soy lecithin is used as an emulsifier in food products such as chocolates, baked goods, and margarine. It also has applications in cosmetics and pharmaceuticals.

3. The Role of Soybeans in Global Trade

Soybeans play a crucial role in international trade, especially between the world's largest producing countries (the U.S., Brazil, and Argentina) and major importers like China and the European Union. Trade policies and tariffs can significantly impact the global flow of soybeans, as seen during the U.S.-China trade war (2018-2020), when China imposed tariffs on U.S. soybeans, affecting trade volumes.

Moreover, geopolitical instability or climate-related disasters in key production regions, such as droughts in Brazil or floods in the U.S., can cause volatility in global soybean prices. Additionally, trade agreements like the USMCA (United States-Mexico-Canada Agreement) or the Mercosur-European Union trade deal have significant implications for soybean exports and global market prices.

4. The Impact of Consumer Trends on Soybean Products

As more consumers shift towards plant-based diets, the demand for soy products is increasing. Meat alternatives, particularly plant-based burgers and sausages, are a driving force behind this trend. Companies like Beyond Meat and Impossible Foods, which use soy protein in their products, are reshaping the food industry.

The dairy-free movement is also boosting demand for soy milk and other soy-based dairy alternatives, which offer a nutritious, lactose-free alternative to traditional cow's milk. This trend is expected to expand globally as more consumers seek healthier, environmentally friendly food options.

[pricevisionai]

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[pravalika]

Soybean Oil Market - Forecast (2023 - 2030)

The Soybean Oil Market is estimated to reach $69.7 billion by 2030, growing at a CAGR of 4.4% over the forecast period of 2023–2030. Soybean oil is a major source of vitamins, proteins, fatty acids and plant sterols, among other important components. Soybean oil aids in boosting skin and eye health, regulating cholesterol levels, reducing the risk of cognitive impairments, preventing osteoporosis and improving immunity. Refined soybean oil is created by further processing crude soy oil through degumming, refining, bleaching and deodorizing. Next to palm oil, soybean oil is the most popular vegetable oil traded in global markets. According to the National Commodity & Derivatives Exchange Limited (NCDEX), soybean oil accounts for 24% of the total usage of vegetable oil. Soybean oil is high in polyunsaturated fat and devoid of cholesterol. Soybean Oil has a mild flavor and almost no odor.

Soybean Oil Market Report Coverage

The report: “Soybean Oil Market – Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Soybean Oil Market.

By Product Type: Processed and Virgin.

By Raw Material: Organic Soybean Oil and Conventional Soybean Oil.

By Application: Food (Cooking, Frying, Salad Dressings, Margarine and Others), Pharmaceutical, Cosmetics, Personal Care Products, Biodiesel, Paints & Coating and Others.

By End-user: Food Services, Household and Industrial.

By Distribution Channel: Hypermarkets/Supermarkets, Retail Stores, Specialty Stores, Online Stores and Others.

By Geography: North America (the U.S., Canada and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia and New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).

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Key Takeaways

Asia-Pacific dominates the Soybean Oil Market in 2022, due to the growing adoption of a healthy lifestyle in the region. North America is anticipated to grow at the fastest rate during the forecast period of 2023–2030, as soybeans are used in salad dressings and margarine, which have high demand and consumption in the region.

The advantages of Soybean Oil over other vegetable oils or cooking oils are becoming increasingly known by consumers, which has increased the Soybean Oil market size.

The easy availability and low cost of Soybean Oil used for various foods and industrial purposes are driving the Soybean Oil industry.

A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Soybean Oil Market Report.

Soybean Oil Market Segment Analysis – by Application:

Based on application, the Soybean Oil market is further segmented into Food (Cooking & Frying, Salad Dressing, Margarine and Others), Pharmaceutical, Cosmetics, Personal Care Products, Biodiesel, Paints & Coating and Others. The Food segment held the largest revenue share of the soybean oil market in 2022, as soybean oil is used in many food applications like cooking, frying, salad dressings and margarine. According to research on Deep Frying, the saturated fat content of soybean oil is 16g per 100g, the monounsaturated fat content is 23g and the polyunsaturated fat content is 58g.

However, the Personal Care Products segment is anticipated to grow at the fastest CAGR of 5.3% over the forecast period of 2023–2030. This is because vitamin E, a substance that aids in promoting skin health, is found in soybean oil. It helps the skin retain moisture and offers protection against irritation. The antioxidant components in soybean oil serve to protect the skin by scavenging free radicals found in the environment. They also help maximize the effects of personal care products like lotions for anti-aging or skin whitening.

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Soybean Oil Market Segment Analysis – by End-user:

Based on End-user, the Soybean Oil market is further segmented into Food Services, Household and Industrial. The Food Services segment held the largest revenue share of the soybean oil market in 2022. This is due to the increase in restaurants, hotel chains and other food services worldwide. The National Restaurant Association estimates that food and beverage sales in the U.S. food service sector hit $789 billion in 2021, an increase of 19.7% from the previous year. However, the Household segment is estimated to grow at the fastest CAGR of 6.2% over the forecast period 2023-2030, as cooking oil is a necessary ingredient in home kitchens and is used in a variety of meals. Soybean Oil is a fantastic option for cooking, frying, dressing and many other food purposes.

Soybean Oil Market Segment Analysis – by Geography:

Based on geography, the Asia-Pacific Soybean Oil Market accounted for a 32% share of global revenue earned by the soybean oil market in 2022. This is due to the growing demand for soybean oil for household purposes as well as in the food service industry across developing countries like India and China. According to the Foreign Agriculture Service, China was projected to import a record-breaking 100 million metric tons of soybeans in the marketing year 2021–2022. However, the North American region is estimated to grow at the fastest CAGR during the forecast period of 2023–2030, as the demand and consumption of soybean oil are rising in the region. According to the National Commodity & Derivatives Exchange Limited (NCDEX), Soybean Oil makes up nearly 75% of all vegetable oils used in the U.S.

Soybean Oil Market Drivers

Healthy Properties of Soybean Oil:

Soybean Oil consumption has been associated with a number of health advantages, including enhanced bone health, lowered blood pressure, lowered cholesterol and a decreased risk of heart disease. The numerous health benefits of soybean oil are the reasons for its rising popularity. Soybean oil is rich in Vitamin K, which may support bone health maintenance and lower the incidence of fractures. Additionally, an animal study discovered that the oil might stop bone deterioration. The majority of the lipids in soybean oil are polyunsaturated fats, which have been associated with lower cholesterol levels and a lower risk of heart disease. Omega-3 fatty acids and unsaturated fats both lower the risk of heart disease and strengthen immunity. This oil is therefore thought to be a suitable cooking oil for cardiac patients. According to the American Heart Association, cardiovascular disease diagnoses increased by 26.6% globally in 2022. The deaths attributable to the condition have increased globally by 17% over the past ten years.

Rise in the Demand for Soybean Oil in the Skincare and Haircare Industries:

The soybean seeds are cold-pressed to create Soybean Oil. Soybean oil offers a wide range of advantages. These advantages extend beyond health. Soybean oil also has a significant favorable impact on the condition of both skin and hair. According to the Hair Society Organization, the majority of people in the world experience greater hair loss than they could have ever imagined, starting at age 35 with a 40% loss rate for males and increasing to a 70% loss rate for men at age 80. These people would want professional services to help them regrow their hair. Women who are experiencing hair loss would be in the 80–90% range by the time they turn 60. Linoleic acid, vitamin E, essential fatty acids and lecithin are all found in large quantities in soybean oil. The oil contains vitamin E, a potent lipid-soluble antioxidant that is crucial for protecting the skin's and mucosa's cell membranes from damaging oxygen-free radicals and maintaining their structural integrity. Some of the benefits of soybean oil for the health of skin and hair include preventing premature aging, getting shinier hair, preventing hair loss and avoiding problems with dry scalp.

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Soybean Oil Market Challenge

COVID Impact on Soybean Production:

The emergence of the COVID-19 pandemic and widespread lockdown measures have had little effect on soybean production. The consumption of soybean oil, one of the primary by-products of soybean processing, has dropped significantly. The pandemic had affected the food service industry. According to the U.S. Department of Agriculture, the demand for soybean oil for feed and food consumption is still being weakened by COVID-related limitations in China. As a result, soybean imports for marketing years 2021–2022 and 2022–2023 are reduced to 92 million metric tons and 96.5 million metric tons, respectively. The prediction for soybean output for marketing years 2022–2023 is significantly lower at 18.1 million metric tons due to reduced yields brought on by extreme heat and drought in minor soybean-producing regions. The pandemic has had an impact on the demand for soybeans, which is restraining the Soybean Oil market.

Key Market Players:

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Soybean Oil Market. The top 10 companies in the Soybean Oil Market are:

Cargill, Incorporated

Louis Dreyfus Company

Wilmar International Limited

Bunge Limited

Archer-Daniels-Midland Company

Corteva Inc.

Ag Processing Inc.

Ruchi Soya Industries Limited

LE Group Industries

Agro Food Group

Recent Developments

In September 2022, Corteva acquired Symborg, a pioneer in microbiological technology with headquarters in Murcia, Spain. The well-known biologicals firm Symborg has a growing biocontrol pipeline, skilled personnel with in-depth scientific understanding and skills in demand generation. A sizable current portfolio is another asset for Symborg.

In February 2022, Wilmar purchased the remaining 50% equity stake in Wilmar Chocolate Pte. Ltd., held by Kwan Hoi Chee Deborah Connie, Richard Lee Keng Chian and Foodlever. The 50% equity investment purchased represented a net asset value of US$1,281,581.

In January 2022, Bunge acquired a 33% stake in Sinagro to support its grain orientation strategy in Brazil. With a considerable presence in the Cerrado savanna of Brazil, Sinagro is a key distributor of grains and agricultural products. In terms of sourcing, processing and supplying oilseed and grain goods and ingredients, Bunge is a global leader.

[allthebrazilianpolitics]

Brazil forecasts a grains harvest of 312 million tons, but climate conditions will hinder soybeans

Brazilian farmers are expected to harvest some 312 million tons of grains and oil seeds in the 2023/2024 crop, which will be 2,4% lower than the record volume of the previous crop.

According to Conab the Brazilian Supply Corporation this is because of modest rainfall and high temperatures in the center west states, while in the south, mainly Rio Grande do Sul there has been an excess of rainfall. These climate conditions have had an impact on wheat and soybean, according to the 2023/24 grains survey released by Conab last week.

“We will have to double our monitoring of production areas since the behavior of climate this year, somehow erratic is becoming a determining factor for the sowing of crops or in the process of development because of El Ni;o phenomenon, Likewise certain delay with soy plantations means uncertainty for the second harvest of maize,” pointed out Silvio Porta, head of Conab agriculture and information policy.

Conab also points out that rice production is estimated to increase 7,5%, and could reach 10,79 million tons which is good news for the domestic market. This is because of a greater area planted as well as an improved yield. The counter news is that the excess of rainfall in Rio Grande do Sul, the leading rice state, is delaying the maturing of the grain given the excess humidity.

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[palmoilnews]

GRAINS-Wheat falls on better supply outlook; soy, corn edge higher SINGAPORE, Nov 27 (Reuters) - Chicago wheat futures slid on Wednesday, giving up gains from the previous session, pressured by ample supplies from freshly harvested crops in the southern hemisphere. Soybeans edged higher, although expectations of large output in Brazil limited the upside in prices. Corn also firmed. "For now there are ample wheat supplies in the market which are keeping a lid on prices," said one trader in Singapore. The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 slid 0.6% to $5.54-3/4 a bushel, as of 0412 GMT. Soybeans Sv1 added 0.5% to $9.88 a bushel and corn Cv1climbed 0.1% to $4.28-1/2 a bushel. Expectations of bumper output from ongoing harvest in Australia continued to provide headwinds to prices. U.S. winter wheat crop conditions improved for a fourth straight week following timely rainfall across the Plains this month, according to a U.S. Department of Agriculture report on Monday. Ukraine's weather in November was generally favourable for the development of winter grain crops, although some of the seedlings are still underdeveloped due to the long drought earlier in the year, analyst APK-Inform quoted state weather forecasters as saying on Tuesday. In the European Union, soft wheat exports since the start of the 2024-25 season in July reached 9.15 million metric tons by Nov. 24, down 30% from 13.08 million tons a year earlier, data published by the European Commission showed on Tuesday. Exporters have shipped soybeans from the busiest U.S. grains port at the fastest rate in nearly four years after rain raised water levels in the Mississippi River, according to government data. Some 60% of U.S. soy exports left the Gulf Coast terminals, which draw supplies from barges travelling south on the Mississippi, the country's most important grain waterway. Commodity funds net bought CBOT soyoil and wheat futures contracts on Tuesday, traders said. The funds net sold corn, soymeal and soybean futures contracts.

[harshwemarket]

Renewable Diesel and the Future of Automotive Fueling

Renewable diesel is a fuel derived from fats and oils, like soybean oil or canola oil, and is refined to match the chemical composition of petroleum diesel. It complies with the ASTM D975 standards for petroleum in the United States and EN 590 in Europe. Renewable diesel can serve as an alternative fuel or be mixed with any proportion of petroleum diesel. Almost all renewable diesel produced and imported in the country is utilized in California due to the economic advantages offered by the Low Carbon Fuel Standard. 

The Renewable Diesel sector analysis anticipates a compound annual growth rate (CAGR) of 16.8% from 2024 to 2034. By 2034, the global Renewable Diesel market size is expected to attain USD 12.86 Billion, following a typical growth trajectory. The estimated revenue for the global Renewable Diesel market is projected to hit USD 3.92 Billion in 2024.  

Know More: https://wemarketresearch.com/reports/renewable-diesel-market/1607  

Production 

There are various technological methods to create renewable diesel, including: 

Conventional hydrotreating—Commonly employed in oil refineries, hydrotreating consists of treating the feedstock (lipids) with hydrogen at high temperatures and pressures alongside a catalyst. Presently, commercial plants are employing this technique. 

Biological sugar enhancement—This method employs a biochemical breakdown process, akin to that used in cellulosic ethanol, coupled with organisms that transform sugars into hydrocarbons. 

Catalytic sugar transformation—This technique consists of a series of catalytic reactions that convert a carbohydrate stream into hydrocarbon fuels. 

Gasification—In this process, biomass undergoes thermal conversion to syngas, which is then catalytically transformed into hydrocarbon fuels. 

Pyrolysis—This method encompasses the chemical breakdown of organic substances at elevated temperatures in an oxygen-free environment. The process yields a liquid pyrolysis oil that can be enhanced to hydrocarbon fuels, either independently or as a blending material with crude oil in a conventional petroleum refinery. 

Hydrothermal processing—This technique applies high pressure and moderate heat to commence the chemical breakdown of biomass or damp waste materials to yield an oil that may be catalytically refined into hydrocarbon fuels. 

Global Renewable Diesel Market Scope 

Report Attributes and Description 

Market Size in 2024: USD 3.92 Billion 

Market Forecast in 2034: USD 12.76 Billion 

CAGR (2024-2034): 16.8% 

Base Year: 2023 

Historic Data: 2019-2023 

Forecast Period: 2024-2034 

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Report USP 

Analysis of production, consumption, company share, company heatmap, company production capacity, growth factors, and more. 

Segments Covered 

By Feedstock 

Soybean Oil 

Palm Oil 

Canola/Rapeseed Oil 

Corn Oil 

Sunflower Oil 

Used Cooking Oil (UCO) 

Others 

By Production Process 

Hydrotreating 

Co-Processing in Petroleum Refineries 

Thermochemical Processes 

Others 

By Distribution Channel 

Direct Sales 

Distributors 

By End-Use 

Automotive 

Marine 

Aerospace 

Power Generation 

Others 

Regional Scope 

North America 

Europe 

APAC 

South America 

Middle East and Africa 

Country Scope 

North America: U.S., Canada 

Europe: U.K., Germany, France, Italy, Spain, Benelux, Nordic Countries, Russia 

Asia-Pacific: China, India, Japan, South Korea, Australia, Indonesia, Thailand 

South America: Mexico, Brazil, Argentina 

Middle East & Africa: Saudi Arabia, UAE, Egypt, South Africa, Nigeria 

Key Trends 

The renewable diesel market is influenced by several pivotal trends. A major factor is the rising global appetite for eco-friendly fuels, propelled by tougher emissions standards and increasing environmental consciousness. Governments worldwide, especially in North America and Europe, have rolled out initiatives and incentives to foster the growth and acceptance of renewable diesel. This has spurred the development of production facilities and the availability of raw materials, prompting companies to invest significantly in biorefineries to fulfill this demand. 

Another notable trend is the advancement of production technologies. Innovative approaches are emerging to enhance the efficiency and scalability of renewable diesel manufacturing, positioning it as a more economically viable alternative to fossil diesel. For instance, breakthroughs in catalysts and feedstock processing are facilitating greater yields and lowering production expenses, potentially broadening the market accessibility of renewable diesel. 

Furthermore, the synergy between renewable diesel and other sustainable energy sources, such as green hydrogen and bio-based fuels, is gaining momentum. This trend is fueled by the necessity for a variety of solutions to navigate the energy transition and an increasing acknowledgment of biofuels' role in reaching net-zero objectives. 

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Obstacles 

In spite of its expansion, the renewable diesel sector confronts numerous obstacles. A significant challenge is the elevated production expenses, which remain a hindrance to widespread adoption. Even though renewable diesel is chemically identical to its petroleum counterpart, the feedstocks and sophisticated refining techniques necessary are often pricier. This results in diminished competitiveness compared to conventional diesel, especially in areas where petroleum prices stay low. 

Moreover, the contest for feedstocks poses another hurdle. The appetite for renewable diesel feedstocks, including vegetable oils and animal fats, is growing as the market develops. This surging competition can trigger escalating costs for raw materials and possible supply constraints, affecting the financial sustainability of renewable diesel manufacturing. Furthermore, there are apprehensions regarding the ecological consequences of massive feedstock farming, such as alterations in land use and deforestation. 

Market fluctuations and unpredictability also pose difficulties. The renewable diesel arena is significantly shaped by governmental regulations, fiscal incentives, and subsidies, which may evolve over time. This complicates long-term investment strategies, as policy changes could influence the sector's profitability and growth opportunities. 

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[tumbrl1]

Corn Oil Market Forecast: Growth Trends and Insights

The corn oil market has witnessed steady growth over the past decade, driven by its versatile uses in food, industrial, and cosmetic applications. As consumer preferences shift toward healthier, plant-based oils, corn oil has carved out a significant niche. With increasing demand in the food industry, its growing role in biofuel production, and advancements in extraction technology, the corn oil market is expected to experience further expansion. This article examines the forecast for the corn oil market, focusing on key growth drivers, challenges, and regional dynamics.

Market Growth Drivers

Health-Conscious Consumer Trends

The rising awareness about health and wellness among consumers is one of the most significant drivers of the corn oil market. Corn oil is rich in polyunsaturated fats, particularly omega-6 fatty acids, which have been associated with improved heart health when consumed in moderation. The growing popularity of plant-based oils, as part of balanced diets aimed at reducing the intake of saturated fats, has directly contributed to the increased demand for corn oil. As more consumers opt for healthier cooking and eating habits, corn oil’s reputation as a heart-healthy alternative to animal fats is expected to propel its market growth in the coming years.

Growth in Processed and Packaged Food Consumption

The demand for processed and packaged foods has been consistently rising, particularly in urban areas, where busy lifestyles drive the need for convenience foods. Corn oil is extensively used in the food processing industry due to its light flavor, high smoke point, and affordability. It is commonly used in frying, baking, and as a base for salad dressings, sauces, and margarines. With the continued rise in the consumption of processed foods, the demand for corn oil in food manufacturing is expected to grow steadily, contributing to the overall expansion of the market.

Increasing Demand for Biofuels

Another major factor driving the growth of the corn oil market is the increasing demand for biofuels. Corn oil is a key feedstock for biodiesel production, especially in North America, where large-scale corn cultivation and biofuel policies create a favorable environment for the use of corn oil as a renewable energy source. Governments around the world are pushing for renewable energy sources to reduce reliance on fossil fuels and combat climate change. As biofuels become an integral part of the energy transition, the demand for corn oil is expected to increase, particularly in markets like the U.S. and Brazil, where biofuel production is a significant industry.

Technological Advancements in Extraction Methods

The development of new technologies for oil extraction is also expected to boost the supply of corn oil. Advancements in cold-pressing, solvent extraction, and refining techniques are enhancing the yield and quality of corn oil. These innovations make it possible to extract oil more efficiently from corn kernels while maintaining the nutritional integrity of the oil. As extraction methods become more cost-effective and sustainable, manufacturers are better positioned to meet the growing global demand for corn oil.

Challenges Affecting the Market

Fluctuating Raw Material Prices

One of the primary challenges facing the corn oil market is the price volatility of corn. As the price of corn fluctuates due to factors such as crop yields, weather conditions, and global demand, corn oil prices may also experience similar volatility. This can affect the stability of the market and impact profit margins for producers. Additionally, price fluctuations in corn may lead to higher production costs, which could be passed on to consumers, potentially dampening demand.

Competition from Other Vegetable Oils

The corn oil market faces intense competition from other vegetable oils, such as soybean oil, sunflower oil, and canola oil. These oils are often considered healthier alternatives and are readily available at competitive prices. Corn oil’s market share may be challenged by the increasing popularity of these oils, especially in regions where they are more locally available and cost-effective. To maintain its position, corn oil producers will need to differentiate their products by emphasizing health benefits, sustainability, and quality.

Environmental and Sustainability Concerns

The large-scale cultivation of corn, particularly for industrial applications like biofuels, raises concerns about environmental sustainability. Corn farming can lead to soil depletion, water usage concerns, and the need for chemical fertilizers and pesticides. Environmental groups and consumers are increasingly aware of the ecological impact of agricultural practices, and any negative perception of corn farming could influence the corn oil market. Manufacturers must address these concerns by promoting sustainable farming practices and eco-friendly production methods.

Regional Insights

North America

North America is the largest producer and consumer of corn oil, particularly in the United States, where corn is a staple crop. The U.S. corn oil market benefits from the country’s vast agricultural resources and well-established biofuel industry. As the demand for biofuels grows, the corn oil market is expected to continue to thrive, driven by both domestic and international demand for renewable energy. Additionally, the health-conscious trends in North America, especially among millennials, will further boost corn oil consumption in the food sector.

Asia Pacific

The Asia Pacific region is expected to witness significant growth in the corn oil market due to increasing urbanization, changing lifestyles, and rising disposable incomes. Countries like China and India are experiencing a shift toward healthier cooking oils as more people become aware of the benefits of vegetable oils. The demand for corn oil in food processing and cosmetics is expected to rise in these countries, making Asia Pacific one of the fastest-growing regions in the corn oil market.

Europe

Europe represents another important market for corn oil, particularly in countries like Germany, France, and Italy. The demand for healthier and sustainable cooking oils is growing in Europe, and corn oil is increasingly being recognized as a viable option. Moreover, the European Union’s emphasis on renewable energy and biofuels is likely to support the growth of the corn oil market in the region, particularly in biodiesel production.

Market Outlook

The global corn oil market is poised for steady growth over the next several years, driven by health trends, increasing applications in biofuels, and rising demand for processed foods. Despite challenges such as raw material price volatility and competition from other vegetable oils, the market’s growth prospects remain robust. Technological advancements in extraction and growing awareness of the health benefits of corn oil will continue to support the demand for this versatile oil.

As sustainability becomes increasingly important, producers who invest in sustainable practices and innovative technologies are likely to lead the market. The corn oil market is expected to expand across North America, Asia Pacific, and Europe, with North America continuing to be the largest market due to its strong biofuel industry and consumer preferences for healthier oils.

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[credenceresearchdotblog]

The Food Emulsifiers Market is projected to grow from USD 3905 million in 2024 to an estimated USD 5639 million by 2032, with a compound annual growth rate (CAGR) of 4.7% from 2024 to 2032. The food emulsifiers market has emerged as a critical component of the global food and beverage industry, driven by the rising demand for processed foods, convenience products, and healthier alternatives. Food emulsifiers, which are chemical or natural substances that stabilize mixtures of oil and water, play a pivotal role in improving texture, extending shelf life, and enhancing the sensory appeal of food products. This article explores the market's current landscape, key drivers, challenges, and future growth potential.

Browse the full report  https://www.credenceresearch.com/report/food-emulsifiers-market

Market Overview

As of 2024, the global food emulsifiers market is valued at approximately USD 3 billion and is projected to grow at a compound annual growth rate (CAGR) of 5.5% over the next five years. Key factors driving this growth include increasing consumer awareness about food quality, the shift towards healthier lifestyles, and technological advancements in food processing.

Major emulsifier types include lecithin, mono- and diglycerides, sorbitan esters, and polyglycerol esters, each serving specific functional purposes in food products. These emulsifiers are widely used in bakery, confectionery, dairy, meat processing, and convenience foods.

Key Market Drivers

Rising Demand for Convenience Foods Modern lifestyles have led to a surge in demand for ready-to-eat and processed foods. Food emulsifiers improve product stability, texture, and flavor, making them indispensable in the production of these items.

Health and Wellness Trends Consumers are increasingly seeking products with natural ingredients and clean labels. This has spurred demand for natural emulsifiers such as lecithin derived from soy, sunflower, or egg yolk. Additionally, emulsifiers enable the reduction of fat content in products, aligning with health-conscious consumers' preferences.

Expanding Food and Beverage Industry Emerging markets in Asia-Pacific, Latin America, and Africa are witnessing a rapid expansion of their food processing industries. This, coupled with urbanization and rising disposable incomes, is fueling the demand for emulsifiers in these regions.

Technological Advancements Innovations in emulsifier formulations, such as multi-functional emulsifiers, have enhanced their applications in diverse food products. These advancements are helping manufacturers meet the evolving needs of consumers.

Challenges in the Market

Despite its promising growth, the food emulsifiers market faces several challenges:

Regulatory Hurdles: Stringent food safety regulations and labeling requirements across different regions can pose challenges for manufacturers.

Allergen Concerns: Some emulsifiers, particularly those derived from soy or eggs, can trigger allergic reactions in sensitive consumers.

Volatile Raw Material Prices: Fluctuations in the prices of raw materials, such as soybean oil and other plant-based oils, can impact production costs.

Regional Insights

North America: The region holds a significant share of the market due to high demand for processed foods and a well-established food processing industry. Clean-label trends are particularly strong in this region.

Europe: A mature market, Europe’s growth is driven by innovation in bakery and confectionery products, as well as the growing vegan and vegetarian food segments.

Asia-Pacific: The fastest-growing region, driven by rapid urbanization, a booming middle class, and increasing adoption of Western diets. Major markets include China, India, and Southeast Asian nations.

Latin America and Middle East & Africa: These regions are witnessing steady growth due to expanding food processing industries and increasing investments by multinational food companies.

Future Outlook

The future of the food emulsifiers market is promising, with opportunities in areas such as plant-based foods, low-fat dairy, and gluten-free bakery products. The growing trend towards natural and organic ingredients is expected to drive the demand for naturally derived emulsifiers.

Moreover, the incorporation of advanced technologies, such as encapsulation and enzyme-modified emulsifiers, is likely to revolutionize the industry. These innovations will not only enhance functionality but also cater to specific dietary requirements, such as allergen-free and low-calorie products.

Key Player Analysis:

ADM

BASF SE

Cargill, Incorporated.

Corbion

DuPont

Ingredion

Kerry Group

Palsgaard

Ricken Vitamin CO., LTD.

Segmentation:

By Type

Lecithin

Monoglyceride and Diglyceride, and Derivatives

Sorbitan Ester

Polyglycerol Ester

Other Types

By Source:

Plant-derived

Animal-derived

By Product Type:

Lecithin

Derivatives of Mono, Di-glycerides

Sorbitan Esters

Polyglycerol Esters

Stearoyl Lactylates

Others

By Application:

Bakeries

Confectionaries

Dairy Products

Functional Foods

Salads and Sauces

Infant Formula

Others

By Region

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-east Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Rest of the Middle East and Africa

Browse the full report  https://www.credenceresearch.com/report/food-emulsifiers-market

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Credence Research

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[pricevisionai]

The Rise of ML-Based Forecasting: Implications and Opportunities for the Future

To increase corporate productivity, machine learning is utilised in business forecasting. Data and observations are utilised to start the learning process. examples, directions, or first-hand experience, for instance. They are offered so that the computer can analyse data patterns and come to better conclusions in the future.

Using the hundreds of metrics at your fingertips and taking each one into account for the particular prediction at hand allows you to prepare considerably more correctly than with manual approaches, which is one of the primary advantages of deep learning for business forecasting.

A machine learning-based system can be fed with as many business indicators and KPIs as you have access to. Whether your forecast is affected by 100 factors or 100,000, machine learning may find patterns and connections that a traditional (or human) system just cannot.

Not only can machine learning forecasting deliver the precision you need, but a turnkey system is also fully autonomous, continuously updating estimates as trends change to help you make better decisions.

How Should Machine Learning Be Used for Forecasting?

Whatever model is chosen, the overall acceptance of ML practices appears to be as follows:

Establish business goals and make advantage of any internal data that is accessible.

Get outside data by searching for market research reports, trends, GDPs, customer reviews, etc.

Sort, clean, & label the information (if needed)

Identify the set of problems that forecasting will be used to tackle.

To act as the initial benchmark, pick a baseline model (usually a basic extrapolation or a tree-based model).

Model performance can be improved by utilising more intricate ML models or altering the data.

Once comfortable findings have been attained, the model is used.

Business Applications using Machine Learning Forecast

Here are a few business applications for machine learning predictions-

1. Predicting financial data

Businesses endure disruption in their performance and operations without a financial projection, and C-level executives are more prone to make bad choices. Due to this, companies utilise ML forecasting, which emphasizes understanding the business drivers instead of handling tedious activities. While reducing the usage of unproductive tactics and human error, ML financial planning also assists with forecasting supply, demand, inventories, future revenues, expenditures, and cash flow.

For instance, those who are involved with the company want to know the firm's turnover and crucial elements for development during the forthcoming financial quarter to understand and appraise areas for improvement. We can develop a machine learning prediction models that use previous key business metrics for the organisation and current turnover data from prior periods using convolutional or regression models.

Seasonal data and other influencing factors will be used to predict the necessary metrics for the future. In this case, company owners can arrange the following period effectively.

2. Predicting the supply chain

The increasingly globalised and sophisticated supply chain management could be radically transformed by ML. Businesses may respond to problems and threats more quickly and avoid under and overstocking by using ML-based forecasting systems. Machine learning algorithms for forecasting can discover patterns in a training sample and then apply those patterns to fresh data. Consequently, machine learning enhances the processes of inventory management, transportation and distribution, anticipating supply chain risks, and supplier selection and segmentation.

Take the next illustration of supply chain forecasting using machine learning as an example. The chain of hypermarkets runs about 100 locations with an average of 50,000 SKUs per store. For such a big network, automated warehouse replenishment is necessary. There are two key benefits in this instance:

There's no reason to start stocking up on things that are difficult to sell.

Regularly purchased goods must be supplied on time.

Based on historical warehouse replenishment statistics and data demonstrating how quickly specific products sell, we can create an ML model for estimating the number of goods per SKU. Several time frames could be used to depict the prediction.

3. Forecast Commodity Prices

Price prediction algorithms establish the price at which a product should be sold to satisfy customer demand, and company expectations, and maximize sales. Machine learning, or artificial intelligence, is frequently used in commodity price predictions. With minimum human input, this approach helps with the automatic separation of data that is organized and unorganized and the development of models to forecast real-time commodities prices. Items that are typically indistinguishable from human sight can be made known, enabling manufacturers to plan ahead, dealers to make pricing predictions, and purchasers to plan more effective purchases.

Business owners frequently want to understand how future price changes for a certain product will affect their business. The beneficial effect could also be used by taking into account external data from other parties that affect prices, such as the rate of inflation, holidays, seasonal trends, etc.

Prices of different types of commodities can be forecasted like:

Sugar Prices

Cotton prices

Palm oil

Gold

Coffee

Natural Gas, etc. 

4. Detecting fraud

Businesses should work more to build anti-fraud measures, according to the surge in worldwide digital fraud rates. ML algorithms can identify questionable financial transactions by learning from past data. They are currently employed successfully in a variety of industries, including e-commerce, finance, healthcare, and fintech.

A chain cafe owner could want to evaluate employee productivity, for instance. Finding hidden patterns that let employees cheat is one of the main goals. These and other frauds of this nature may cause monetary loss. To identify and report unusual behaviours, we can build a fraud prevention model using historical data. Managers can then carefully examine anomalies found and pinpoint the underlying reason for such data variances.

5. Predicting sales and demand

Demand changes are a complicated issue that impacts the entire e-commerce sector. To forecast consumer behavior and decide how many products to create or order, businesses, especially manufacturers, employ machine learning (ML) demand forecasting. With ML models, it is feasible to avoid having too much stock or running out of it. Such a forecasting strategy also makes it possible to understand the target market and the competition better.

Let's say a chain of restaurants wishes to predict demand in advance. The company will gain from it in several ways:

to get an idea of how many dishes the restaurant will sell so that the food supply can be prepared in advance

to understand and specify how many personnel are needed to deliver exceptional customer service

to plan a suitable and timely marketing effort

It will be advantageous to start by looking at historical data from earlier times to create demand prediction models and help firms achieve their goals. For instance, we can check Google reviews for both our restaurant chain and the main rivals to see which level of service clients enjoy or dislike.

Advantages of Predicting with Machine Learning

Businesses can better serve consumers and complete orders before running out of stock by using forecasting. As a result, there is a considerable influence on both sales and customer happiness. For example, knowing the demand enables you to control logistics, monitor production costs, and even project the investment return for a new device. As a consequence, ML prediction models give companies the ability to develop their AI more fully and, more significantly, to address business issues by looking at historical data.

1. The capacity to generate more accurate forecasts, Faster

Financial forecasting can be liberated from the time-consuming labour of data collection and reconciliation due to machine learning-enabled forecasting. The tools can be configured to automatically gather and reconcile big data sets. Moreover, machine learning methods can help uncover business drivers and drastically lower forecast mistakes.

Machine learning techniques are intended to acquire information over time and forecast which elements will have the biggest impacts on financial performance. Over time, the model becomes more accurate and produces projections more quickly.

2. Use of Additional Data

When employing spreadsheet-driven forecasting procedures, there are limits on the number of sources of data and how much data can be processed and ingested within forecasting models. The quantity and variety of data that may be utilized can be greatly improved by machine learning technologies since they can store more information and analyze it more rapidly than humans.

An organisation that sells consumer goods, for instance, can quickly access data from search engines or social media to determine when buyers are most likely to look for or post about its products. This type of information can help the forecaster gain a better knowledge of the revenue peaks and valleys.

3. Making Value-Added Activities Possible

Analysts are generally obliged to spend the majority of their time on existing prediction processes reconciling or compiling data, rather than working on value-added research and interfacing with the business.

Analysts can focus on understanding operational drivers, key business events, or macro- and microeconomic variables that could have an influence on the organisation instead of these tiresome activities by employing machine learning technology to provide at least a baseline estimate. These findings can then be applied to forecasting. Ultimately, by utilizing machine learning, financial analysts may enhance decision-making and collaborate more with the company's management.

Conclusion

Forecasting in business combines art and science. It blends business intelligence with data science. Business forecasting issues are frequently a result of poor judgement and inexperience. If assumptions are paired with unexpected events, predictions may be incorrect. Machine learning and artificial intelligence will ensure that you avoid making these errors. Machine learning is an effective tool in today's quick-paced culture.

By using algorithms for machine learning and persevering through setbacks, businesses can make the shift to improved performances, sales, and outstanding profit margins. PriceVision is one such tool that paves your path towards easy forecasting of the prices of commodities like metal, forex, energy and agricultural commodities.

[global-research-report]

The Future of Biostimulants Market: Drivers, Challenges, and Opportunities

The global biostimulants market was valued at USD 2.6 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. This growth can be attributed to the increasing demand for biostimulants across various agricultural applications, including seed, soil, and foliar treatments. Biostimulants are organic fertilizers designed to enhance plant growth and development. They are used throughout the plant’s life cycle—from seed germination to maturity—by promoting growth and improving productivity. Additionally, these fertilizers encourage the activity of beneficial soil microbes, which aid in nutrient transfer, assimilation, and usage, thereby improving soil fertility and plant health.

As the global agricultural sector increasingly embraces more sustainable and eco-friendly practices, the demand for biostimulants, which are organic and promote healthier plant growth without harmful chemicals, has risen. This trend aligns with the growing preference for organic foods, which are perceived to offer higher nutritional value, reduced pesticide residue, and fewer toxins harmful to human health. The increasing popularity of organic fruits and vegetables has driven a significant rise in demand, further supporting the growth of biostimulants. The global push toward organic farming is expected to accelerate over the forecast period, particularly in developing economies, where the adoption of organic farming practices is growing rapidly. This, in turn, is anticipated to boost the demand for biostimulants.

Gather more insights about the market drivers, restrains and growth of the Biostimulants Market

Crop Type Segmentation Insights

In 2022, row crops and cereals dominated the biostimulants market, accounting for more than 61.0% of the revenue share. This large share is largely driven by the increasing global demand for commodity crops such as cotton, oats, barley, millets, and soybeans. These crops are grown over large areas, and biostimulants help enhance the overall productivity and yield of these crops. Biostimulants are especially useful for improving seed size, cell division, and the overall yield of row crops like corn, barley, and soybean. These biostimulants typically contain beneficial compounds such as polyamines, Indole-3-acetic acid (IAA), and amino acids, which help plants overcome barriers to cell expansion and division, ultimately contributing to better growth and higher crop yields.

For instance, corn and soybeans, which are staple crops in many parts of the world, can experience enhanced growth rates and productivity with the application of biostimulants. These crops, which occupy vast land areas globally, are expected to continue driving the market for biostimulants, as the agricultural industry seeks ways to increase yield while maintaining sustainable practices.

In addition to row crops, biostimulants are also crucial for vegetable cultivation, where they support root development, fruiting, and stem formation. Crops like tomatoes, potatoes, peppers, melons, and squash benefit from biostimulants, which boost overall plant health and productivity. For example, potatoes are one of the most consumed vegetables in North America, particularly in the U.S. and Canada, where biostimulants are applied to improve root and tuber development, ultimately increasing yields. Other key fruits and vegetables such as carrots, lettuce, broccoli, onions, apples, blueberries, grapes, and cranberries are also produced in large quantities, particularly in regions like Canada, where the use of biostimulants is growing due to their ability to increase crop quality and yield.

The turf and ornamental segment also held the second-largest market share in the crop type segmentation in 2022. Biostimulants play an important role in turfgrass management, where they are used to enhance the health and appearance of lawns, sports fields, and golf courses. By improving root development, nutrient uptake, color, and overall turf quality, biostimulants help maintain vibrant, healthy turfgrass. Seaweed extracts and humic acid, two commonly used biostimulants in turf management, contain auxins and cytokinins, which promote root and shoot development. These products are particularly valuable for sports turf, where high-quality grass is essential for maintaining the performance and aesthetic appeal of fields. The growth of sports turf applications, particularly in regions with a strong sports culture, continues to fuel demand for biostimulants in the turf management industry.

Market Outlook

As global agricultural practices continue to evolve towards more sustainable and environmentally-friendly solutions, the biostimulants market is well-positioned for robust growth. The increasing adoption of organic farming practices, the rising demand for healthier, toxin-free food, and the need for more efficient agricultural practices are all expected to drive the demand for biostimulants over the forecast period. The market for biostimulants is also supported by the rising awareness of their benefits, not just in traditional agriculture but also in turf management and horticulture, where they can enhance both the health and aesthetics of plants.

With increasing demand for more sustainable agricultural practices and the growing emphasis on reducing the environmental footprint of farming, biostimulants are set to play an integral role in the agricultural industry’s efforts to achieve higher crop yields, better soil health, and improved crop quality. This market is poised to expand significantly, with row crops, cereals, and turf and ornamental plants driving much of the growth over the next several years.

Order a free sample PDF of the Market Intelligence Study, published by Grand View Research.

[allthebrazilianpolitics]

Soybeans’ big players looking to a bruising year ahead

After a five-year run that featured a costly trade war and an even costlier, deadly pandemic, the biggest players in the global soybean market the United States, Brazil and China are positioning themselves for a big, bruising 2023/2024 marketing year.

Of the three, Brazil remains planted in the driver’s seat. The U.S. Department of Agriculture (USDA) forecasts that Brazil’s mostly planted 2023/24 crop will yield an export hogging 6 billion bu., 5% more than last year’s record production and an astonishing 16% larger than the 2020/2021 crop.

Two factors favor that outlook. First, after three consecutive years of dry, hot La Niña weather, this year’s El Niño should bring more moisture and less crop stress. Second, for the first time in memory, soy production costs are falling, encouraging Brazilian farmers to do what farmers anywhere would do: swap costly corn acres for cheaper bean acres.

If the projected, record 113 million soybean acres are planted and the better weather forecast comes to pass, USDA expects Brazil to export a record 103 million metric tons (mmt) of soybeans in its 2023/24 marketing year. That’s 6 mmt more than last year’s 97 mmt.

Just how many bushels are in 103 mmt of soybeans? A staggering 3.75 billion bu.

Continue reading.