Overview and Scope
Soybean derivatives refer to ingredients obtained from soybeans by grinding, drying, or other processing methods. It is utilised as a dietary supplement that serves as a nourishing food for vegans and health-conscious people.
Sizing and Forecast
The soybean derivatives market size has grown strongly in recent years. It will grow from $277.93 billion in 2023 to $300.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to agribusiness expansion, rising protein demand, health awareness, food industry applications, government support, soybean oil demand..
The soybean derivatives market size is expected to see strong growth in the next few years. It will grow to $417.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to clean label products, plant-based meat industry, alternative uses in non-food industries, global trade, population growth, economic development.. Major trends in the forecast period include innovation in product development, soy lecithin in food processing, biofuel production, investments in research and development, sustainable agriculture practices..
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Segmentation & Regional Insights
The soybean derivatives market covered in this report is segmented –
1) By Type: Soy Oil, Soy Milk, Soy meal, Other Types
2) By Lecithin: Water, Acid, Enzyme
3) By Sales Channel: Departmental Stores, Supermarkets, Online Retail, Other Channels
4) By Application: Food And Beverages, Feed Industry, Others (soy-based wood adhesives, soy ink, soy crayons, soy-based lubricants and many more)
North America was the largest region in the soybean derivatives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the soybean derivatives market during the forecast period. The regions covered in the soybean derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
An increase in the vegan population is expected to propel the growth of the soybean derivatives market going forward. The vegan population is the population that consumes vegan products. Soybean is a good source of protein which gives high nutritional values, same as nonvegetarian food, as a result, the vegan population prefers soybean products to inculcate those nutritional values. For instance, in May 2022, according to Sentient Media, a US-based journal website, globally, the vegan food market grew to $15.77 billion in 2021 from $14.44 billion in 2020. Therefore, an increase in the vegan population drives the soybean derivatives market.
Key Industry Players
Major companies operating in the soybean derivatives market report are Bunge Ltd., Archer Daniels Midland and Company, Louis Dreyfus Commodities B.V., Cargill Incorporated, Wilmar International Limited, Noble Group Ltd., AG Processing Inc., Cenex Harvest States Inc., DuPont Nutrition and Health, Ruchi Soya Industries Limited, Gavyadhar Organic Private Limited, Terra Firma Organic Private Limited, Ingredion Incorporated, Calbee Inc., Solbar Industries Ltd., SunOpta Inc., Scoular Company, Ceres Global Ag Corp, American Natural Processors Inc., Iowa Soybean Processors (ISP), The Scoular Company, Batory Foods, Fuerst Day Lawson Holdings Limited, Fuji Vegetable Oil Inc., Pilgrim’s Pride Corporation, Sojaprotein, Arizona Grain Inc., Jiangsu Hongda New Material Co. Ltd., Cosucra, Vippy Industries Ltd. .
The soybean derivatives market report table of contents includes:
1. Executive Summary
2. Soybean Derivatives Market Characteristics
3. Soybean Derivatives Market Trends And Strategies
4. Soybean Derivatives Market – Macro Economic Scenario
5. Global Soybean Derivatives Market Size and Growth
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31. Global Soybean Derivatives Market Competitive Benchmarking
32. Global Soybean Derivatives Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Soybean Derivatives Market
34. Soybean Derivatives Market Future Outlook and Potential Analysis
35. Appendix
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