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According to a new report by IMIR Market Research on Global Soybean Derivatives Market size was valued at USD 260.28 billion in 2023 and is estimated to expand at over 7.2% CAGR from 2024 to 2032.
Soybean derivatives constitute soybeans as a source that yields other parts, which are in turn used to make soy products. Soybeans include protein central to carbohydrates, minerals and vitamins. Besides soybean is used in products like foods that routes to the vegetable oil market. Soy vegetables are consumed as supplements which help to provide food with balanced nutrients and are used by vegans and wealthy people. They contain in themselves significant amounts of proteins, good fatty acids and other essential nutrients that are body friendly and stimulate healthy growth. They are easy to get and can be get at a good amount for the buyer. Unlike wheat and corn, soybeans are mostly processed to create, among others, soybean meal, soybean oil, and other soybean derivatives that are utilized as ingredients in the animal feed formulation as well.
Report Coverage:
The report will cover the qualitative and quantitative data on the global Soybean Derivatives Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.
By Type (Soy Oil, Soy Milk, Soy Meal, Others), By Lecithin (Water, Acid, Enzyme), By Application (Food & Beverages, Feed Industry, Others), By Sales Channel (Departmental Stores, Supermarkets, Online Retail, Others).
Report Scope and Segmentations:
Study Period | 2024-32 |
Base Year | 2023 |
Estimated Forecast Year | 2024-32 |
Growth Rate | CAGR of 7.2% from 2024 to 2032 |
Segmentation | By Type, By Lecithin, By Application, By Sales Channel, By Region |
Unit | USD Billion |
By Type |
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By Lecithin |
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By Application |
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By Sales Channel |
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By Region |
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Market Players Analysis:
Key Industry Developments:
In September 2023, Brazil's antitrust watchdog CADE approved U.S. grain trader Cargill's acquisition of Brazilian soy crusher Granol's three soy crushing plants on Wednesday.
In May 2023, ADM (NYSE: ADM), one of a global leader in human and animal nutrition, announced that it has reached an agreement to acquire D.C.A. Finance B.V. (DCA), subject to required regulatory approvals.
In November 2022, Expanding its oilseeds network, Cargill has entered a definitive agreement to acquire Owensboro Grain Company, LLC, a fifth-generation family-owned soybean processing facility and refinery located in Owensboro, Kentucky, US.
Market Segmentation Insights:
The market scope is segmented because of by Type, by Lecithin, by Application, by Sales Channel.
Soybean Derivatives Market is the Market of products derived from soybeans, such as soy oil, soy milk, and soy meal. With high adaptability and industry wide use, soybeans are the cornerstone of different industries in terms of nutrition and food, beverages, animal feed, and the many others. Soy oil derived from soybean is widely used in cooking, food procession and biofuel as such contributes partially to the global edible oil market. Dairy milk substitute called soy milk, which replaces dairy milk protein sources and lactose-free products among soy milk, a popular alternative for health-minded consumers. Soybean meal, that is produced from manufacturing soy, is turned into a significant element in feed formulations for poultry and livestock because of its rich protein content. Generally, the niche which is soybean derivatives market is presently developing gradually riding on factors like growing consciousness regarding the health benefits of soya based products, soaring demand for plant-based alternatives and increased applications in different sectors.
Leaving the segment of the Soybean Derivatives Market depending on lecithin kinds, including water lecithin, enzyme lecithin, and acid lecithin, reveals a picture of distinct customer requirements and progress on technology. Lecithin is a substance consisting of fat and protein that is obtained from soy. It is also called soy lecithin and possess most of those characteristics that enable life and health. Lecithin that is water-soluble and capable of amalgamation is a main component in formulation of foodstuffs and imparts textural properties and shelf stability. The acid lecithin that is obtained through the chemical hydrolysis tool has a broad scope of use in medical fields, dietary nutrients for their employability as emulsifiers and stabilizers. Lecithin enzyme, derived via enzymatic hydrolysis, creates promising opportunities in food and cosmetic industries providing natural and eco-friendly ream solutions. Lecithin enables better emulsification and a dispersion process by acting as a stabilizer in the formulations of food, both as a raw material and an ingredient. In synergy with the dynamics that the soybean derivatives market experiences due to the need for natural ingredients and functional supplements, the market in the lecithin segments is suggested to have another expansion and innovation.
The Soybeans Derivatives Market, which is application-oriented and covers both the food and beverages, as well as the feed industry, is an industry with a versatile environment where the product finds application in various sectors. Through the food and beverage segment, the soybean-derived ingredients deliver an assortment of products which include, soybean oil for cooking and frying, and soy protein isolates for meat substitutes and nutritionally inclusive products. As the importance of plant-based diets and sustainable sourcing is being considered, soy derivatives increasingly gain popularity as responsible, versatile, and nutritious alternative. However, in the case of feed industry, soybean is widely used as basic components in animal nutrition. Soybean product like as soymeal are excess-quality protein sources in the formulation of livestock and poultry feed. With increasing world population, the demand for protein-rich food products, especially in the growing countries, stands for a prosperous future for the Soybean Derivatives Market; it will continue to grow its applications in feed and food industries.
The Market for Soybean Derivatives Products, which sales channel are the Departmental stores, supermarkets, and also the Online Retail, shows that the distribution in this market is dynamic and it is contributed by the judging consumer's preferences and their online shopping behaviours. Departmental stores, that are normally the shopping centre for groceries for many people, are still significant in the sale of soybean derivatives they stock a whole range of products from various categories to meet different needs of customers. Supermarkets, with their high level of convenience and abundant product stocks, placing them at the centre of the soy product market’s use and offering them both mainstream as well as niche soy products. On the other hand, the emergence of e-commerce as a convenience not only encourages but also equally disrupts the traditional channels of distribution in the market for the soybean derivatives, providing the buyers with access and ease as well as often rival pricing. Online retail space declined sharply with the growth of influencing elements which include convenience, wide product range, and increasing consumer base. Since the customers are more likely to put the onus on the convenience and affordability considerations, and these have been noted to be among the most significant determinants of the soybean derivatives sales channels, it is expected that the channels will subsequently keep growing the existing sales channels and see an exponential increase in the e-commerce channels in the future.
Regional Snapshots:
Undoubtedly, North America is a really countable leader in the planting business of the world on soybeans. The three main drivers of soy protein consumption increase in North America are related to changes in nutritional requirements, changes in food choices and also the fact that some people are looking for vegetarian products as an alternative source of protein. Another study from the Soy Nutrition Institute shows more than one-third of the globe's soybeans are actually grown in the USA, with the second-largest share coming from Argentina and third-largest produced in Brazil. From that we can reasonably expect that the business will produce additional soy based ingredients. Companies are now working so hard to include soy protein as one of the ingredients in their products, especially in the beverage category which are mainly sourced from soy.
Points Covered in the Report:
Key Questions:
Research Scope of the Market:
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15 Apr 2024
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