Abstract
Soybean meal (SBM) is a foundational protein source, but its industrial application is constrained by a complex matrix of anti-nutritional factors (ANFs). This review provides a critical synthesis of the biochemical transition from raw SBM to fermented SBM (FSBM), focusing on the synergistic mechanisms of fungal and bacterial co-fermentation. We identify that the efficacy of FSBM is primarily driven by the microbial proteolysis of glycinin into low-molecular-weight bioactive peptides (<1000 Da). These peptides serve as the primary drivers for improved intestinal morphology (increased villus height) and the modulation of the gut microbiota, providing a mechanistic basis for reported probiotic effects. Furthermore, we establish that the 5-10% improvement in the feed conversion ratio (FCR) documented for swines mathematically offsets the processing premium of fermentation. However, critical gaps remain in the standardization of solid-state fermentation (SSF) protocols, specifically regarding the selection of fungal (Aspergillus) and bacterial (Bacillus or Lactobacillus) strains, whose distinct metabolic pathways significantly diversify the functional profile of the resulting FSBM.