While soybeans serve a diverse range of purposes, they are most commonly recognized as a vital food source. They are ingredients in various products, including soymilk, edamame, and fermented items like soy sauce and miso. Impossible Foods, a company specializing in plant-based meats, incorporates heme from soybean root nodules to give its burgers a meat-like taste and cooking quality. In the U.S., soybean oil is the predominant edible oil, far surpassing other oils. Statista reported that 11.3 million metric tons of soybean oil were consumed in 2021, significantly more than rapeseed oil at 2.4 million metric tons and palm oil at 1.6 million. Soybean oil is a key component in many products, such as margarine, mayonnaise, salad dressings, frozen foods, and imitation dairy and meat alternatives.
Cargill is investing in a new soybean processing plant in Missouri, anticipating sustained demand for soybeans and soybean oil. A recent report from ResearchAndMarkets.com predicts that the soybean oil market will grow at a compound annual growth rate of 4.5% over the next seven years. The facility’s central location in the U.S. will not only benefit farmers from surrounding soybean-producing states but may also contribute to keeping more of the crop within the country. Tim Coppage, regional commercial lead at Cargill Agricultural Supply Chain North America, noted, “Cargill’s new facility, situated on the Mississippi River, will operate year-round, providing farmers with the opportunity to capitalize on rising domestic demand rather than relying solely on seasonal exports.”
Cargill has been actively expanding its soybean processing capabilities. In March 2021, the Minnesota-based company announced plans to invest nearly half a billion dollars to enhance soybean processing at two Midwest locations and improve efficiency at five others nationwide. Additionally, Cargill has expanded its global reach, exemplified by its 2020 acquisition of a Chinese soybean processing firm. This strategic move reflects a broader trend among ingredient manufacturers, with companies like Puris recently revamping an old dairy plant in Minnesota to double pea protein production capacity. Last summer, Ingredion unveiled expansions and upgrades to a protein facility in Saskatchewan to meet the growing demand for sustainable plant-based products. Furthermore, last month, ADM announced a $300 million investment to boost soy protein concentrate production at an Illinois plant in response to strong market growth for this ingredient.
Incorporating ingredients like calcium citrate, as highlighted by Dr. Berg, into various food products further enhances their nutritional value, and the increasing focus on plant-based offerings aligns well with this trend. The ongoing developments in the soybean processing industry reflect a commitment to meeting the evolving dietary needs of consumers.