According to Stratistics MRC, the Global High Oleic Soybean Market is accounted for $448.45 million in 2023 and is expected to reach $1142.97 million by 2030 growing at a CAGR of 14.3% during the forecast period.
A genetically engineered soybean variety known as high oleic has higher concentrations of monounsaturated fats, especially oleic acid. This change in the fatty acid profile is advantageous for frying and food processing applications because it increases shelf life and stability against oxidation, among other benefits. High-oleic soybean is becoming more and more popular among food producers and consumers looking for healthier cooking oils and ingredients because of its enhanced functionality and health benefits.
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In the global high-oleic soybean market, Latin America is projected to have the highest CAGR. High-oleic soybean varieties have become remarkably popular in this region, especially in countries like Brazil and Argentina, as a result of growing consumer demand for healthier cooking oils and environmentally friendly farming methods. Owing to their abundant arable land, favourable climate, and agricultural technology advancements, Latin American countries have rapidly increased their production of high-oleic soybeans. Furthermore, high oleic soybean growth in the area has also been aided by the growing emphasis on ecologically friendly farming methods and the use of genetically modified crops.
Some of the key players in High Oleic Soybean market include Bayer CropScience, Corteva Agriscience, AGP Grain Ltd., Syngenta Group, Bunge Limited, Monsanto, BASF SE, Calyxt, Archer Daniels Midland Company (ADM), Maverik Oils, Cargill, Incorporated and DowDuPont.
Key Developments:
In March 2024, Syngenta Vegetable Seeds and Emerald Seed Company have announced the signing of a licensing agreement that will provide Syngenta exclusive access to Emerald Seed’s high-quality genetics. Specifically, Syngenta said the partnership would allow it to continue investing in advancing onion seed germplasm and strengthen its offering in onion seeds, one of the most widely grown vegetable crops globally.
In November 2023, Corteva Agriscience, one of the world’s largest agriculture companies, and Manna Irrigation, a leading provider of irrigation intelligence software solutions, have announced a new contract to enhance effective irrigation practices. Corteva Agriscience implemented the Manna Irrigation Intelligence solution in more than 4,000 hectares in Austria across multiple locations.
In June 2023, Global life sciences firm Bayer said it has signed an agreement with US-based food major Cargill to empower smallholder farmers with digital solutions, including comprehensive information on market prices, weather forecasts, and pre- to post-harvest insights.
What our report offers:
– Market share assessments for the regional and country-level segments
– Strategic recommendations for the new entrants
– Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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