Growing Veganism is Bound to Profit the Global Soybean Derivatives Market
The Global Soybean Derivatives Market was projected at USD USD 162.2 Billion billion by 2021 and is expected to grow at a 6.3% between 2022 and 2028. Soybean extracts are found in soybean seeds and other bean products. The soybean seed oil contains many nutrients such as protein carbohydrates, minerals, and vitamins. Soybeans are also a major source of oil on the market. Soybean sprouts are used as food ingredients that serve as nutritious food for a vegan consumer or health-conscious person. They are rich in protein, healthy fats, and other nutritious ingredients in the body and help with body growth. They are readily available and affordable for the consumer. Products such as soybean meal, soybean oil, and other soybean products are also popular with the animal feed industry.
Key trends in this market are population growth worldwide, increased consumer awareness of health, and increased demand for animal feed. Various industries have also increased the demand for soybean extraction in all parts of the world. Apart from food, the active purpose of soy in food has increased the market growth of soybeans on a large scale. Global population growth and urban sprawl are major factors in the growth of the global market for soybean derivatives. The growth of large-scale end-of-life industries, the growing demand for perishable and sustainable products is another factor driving the growth of the global Soybean Derivatives Market.
Demand for soy derivatives will continue to grow in the coming decades. However, declining agricultural land and declining soil levels due to the use of hazardous fertilizers are expected to delay market growth in the coming years. In addition, the high levels of unsaturated soy acids that are harmful to human health are predicted to affect market growth. The increasing use of biomass and other sugars such as sucrose in bioplastic production can also affect the market growth of soybean extraction. On the other hand, soybean derivatives are becoming a sustainable solution in the manufacturing of biodiesel and becoming better alternatives for petrochemicals. Biodiesel will be the potential end-use segment for soybean derivatives in the near future.
The Soybean Derivatives Market is segmented on the basis of type into soy meal which consists of soy milk and soy protein concentrate, soy oil, and soybean. On the basis of applications, the market is divided mainly into the feed industry, food industry, and others such as biodiesel, soy-based wood adhesives, soy ink, soy crayons, soy-based lubricants among others. and others. And on the basis of lecithin processing, the market is segmented into water, acid, and enzyme. The global Soybean market derivatives are estimated to be led by the region of Asia Pacific. The main contributors to this region are China and India as these are major importers and buyers of soybean products. The market, when considered geographically, further consists of North America, Europe, Latin America, and the rest of the world.
Some of the major players operating in the global Soybean Derivatives Market includeArcher Daniels Midland Company (U.S.), Bunge Ltd (U.S.), Cargill, Incorporated (U.S.), Louis Dreyfus Commodities (The Netherlands), and Wilmar International Limited (Singapore).
Browse the full Report - Soybean Derivatives Market by Type (Soybean Oil, Soy Flour, Soy Nuts, Others), by Application (Food Industry, Feed Industry, Biodiesel, Others), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)