LONDON–(BUSINESS WIRE)–SpendEdge has been monitoring the global soybean market and the market is poised to experience volume growth of more than 135 MT between 2019-2024 at a CAGR of over 6% during the forecast period. Request Free Sample Pages.
Read the 131-page research report with TOC and LOE on “The Global Soybean Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
Soybean is being used as one of the essential ingredients in the production biofuel that is currently facing an exponential demand. The growing affinity towards gluten-free foods is resulting in the replacement of wheat flour with soy flour in the F&B industry. Such applications are driving volume growth in the global soybean market.
APAC houses some of the fastest-growing soy beverages markets and also demography that is exhibiting a high degree of consumption of soybean products. These factors will drive demand in the soybean market in this region. Consumers in the US are exhibiting high demand for a range of soybean products such as soy milk and soybean flour owing to a rise in the vegan population and demand for gluten-free products. This will drive the market’s spend momentum in the US.
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Insights into the market pricing trends
- The adoption of advanced cultivation methods, such as drones for pesticide spraying and advanced irrigation systems will result in a significant rise in the CAPEX and OPEX of soybean suppliers. This will have a direct impact on the purchasing price in the soybean market.
- Volume-based pricing is the most widely adopted pricing model in the global soybean market as it optimizes the costs and risks of the buyer against volatility in the market prices of soybean. This is because the buyer can fix the price during the contract tenure.
What are the strategies to adopt to optimize procurement spend in this market?
The soybean price trends imply a substantial increase in suppliers’ OPEX which will result in a gradual decline in their profit margin. To compensate for this, suppliers are expected to increase the product price. In view of this, this procurement intelligence report has listed the top soybean suppliers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal procurement in this market.
Development of minimum standards for deforestation-free-sourcing
Buyers must ensure that soybean suppliers have a proper legal framework in place to ensure a deforestation-free-soybean. It is crucial for the buyers to ensure that the framework operates under the principles of forest management in the specific region. They also facilitate the purchase of certified soybeans that are manufactured through the implementation of risk-free soybean supply chains.
It is advised that buyers engage with dairy derivative suppliers who offer competitive prices over the period of engagement. Flexibility in payback terms and openness to strategic and tactical negotiations that benefit both parties are important parameters to consider prior to the selection of soybean suppliers.
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Some of the key topics covered in this report are:
- Soybean market spend segmentation by region
- Total cost of ownership analysis in the soybean market
- Regional spend opportunity for soybean suppliers
- Soybean suppliers cost structures
- Soybean pricing models analysis
- Soybean procurement best practices
- Category management objectives
- Cost saving opportunities in the soybean market
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