Global Soybean Derivatives Market By Type ( Soybean, Soy meal (soy milk and soy protein concentrate), Soy oil (soy lecithin ), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2033
- 03 Jan 2023
- Report Details
For the period 2023-2033, the soybean derivatives Market is estimated to be worth USD 317.85 Billion in 2023, and is projected to reach USD 661.22 Billion by 2033, at a CAGR of 7.6% Soybean Derivatives and soybean seeds are used to make soybean derivatives. Many nutrients are found in soybean oilseeds, including protein, carbohydrates, minerals, vitamins, and vitamins. Soybean oil is the most widely used in the world. The soybean derivatives can be used as dietary food supplements for vegans and health-conscious consumers. They are high in healthy fats, proteins, and other nutrients that promote healthy growth.
The key drivers of global Soybean Derivatives Market growth are the growing global population and increasing urbanization. Other factors driving the growth of Soybean Derivatives markets include the expansion of key end-use industries as well as the growing demand for sustainable and biodegradable products.
Soybean Derivatives are becoming an economically viable option for biodiesel production and a better alternative to petrochemicals. In the near future, Soybean derivatives will have a potential end-use segment in biodiesel.
Soybean derivatives are used widely in the production of oils for the automotive industry due to their low levels of harmfulness and high viscosity index.
The demand for soybean derivatives has increased in bio-based plastics and scented candles, cleaning agents, coatings, crayons, and paints. Soybean derivatives are in high demand by the feed industry. They can be classified into poultry, aquaculture, and farm animals as well as pet food.
Due to its high protein level, the poultry sector is the most important user of soybean derivatives. The future will see more soybean derivatives being used for industrial purposes, thanks to the advancement of science and technology.
Soybean Derivatives Market Scope:
By type, the market is segmented into Soybean, Soy meal (soy milk and soy protein concentrate), and Soy oil (soy lecithin). By Application, the market is divided into Feed, Food.
Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. Major players profiled in the report include Bunge Ltd (U.S.), Archer Daniels Midland Company (U.S.), Louis Dreyfus Commodities (The Netherlands), Cargill, Incorporated (U.S.), and Wilmar International Limited (Singapore).
Key Market Segments
Soy meal (soy milk and soy protein concentrate)
Soy oil (soy lecithin)
Key Market Players included in the report:
Bunge Ltd (U.S.)
Archer Daniels Midland Company (U.S.)
Louis Dreyfus Commodities (The Netherlands)
Wilmar International Limited (Singapore)
To increase product demand, increase livestock production
Because it is safe and inexpensive, soybean can play a vital role in increasing the nutritional status of the community. Soybean has nine essential amino acids, making them one of the few plant-based complete proteins. It is a vital source of protein for both animals and humans. Approx. It is estimated that 70 to 80% of the soybeans grown are used for animal feed, with the remainder destined for human consumption. Due to rising livestock production around the world, the current demand for soybeans will increase.
To Drive Growth, Increased Soybean Production, and Rising R&D Expenditure
China is the world’s largest soybean consumer, with most of its soy imports coming from North America. The government’s increasing emphasis on technical assistance in China to increase yields can help meet demand and reduce land pressure elsewhere in the world. It will be difficult to improve production practices with so many small farmers. However, the Chinese have taken several initiatives
The government can increase the soybean cultivation area.
In February 2019, for example, the State Council published its policy document. It included a plan to revitalize soybean farming. Large planters and rural organizations have made efforts to shift soybean cultivation under policy management. In the near future, the global market could be driven by the rising production of this crop.
Research and development investments can positively impact the quality and capability of a manufacturer’s production technology. Manufacturers can expand their business capabilities by implementing technological improvements in order to improve efficiency. The market is expected to grow due to the increasing expenditure on technology to improve soybean seed breeding and plant to increase productivity and yields of soy oil and protein.
Factors that Limit Your Options:
To impair the performance, high levels of unsaturated fatty acids in soy derivatives are necessary
Over the next decades, the soy derivatives demand will increase. However, the market growth will be limited by a decline in agricultural land and deteriorating soil quality as a result of the use of harmful fertilizers. Market growth will be impeded by the high level of unsaturated fatty acids in soy, which are harmful to human health. Market growth can be impeded by the increasing use of biomass and sugar derivatives like sucrose for bioplastic manufacturing.
Key Market Trends:
Demand for plant-based protein is increasing
Consumer preferences are changing towards a healthier diet that is less dependent on animal protein. Veganz found that 23% of Europeans consider themselves flexible. 57% of the 23% want to be vegetarians and 8% are open to trying a vegan diet. The top three European countries with flexible eaters at the country level are Portugal (28.6%), Germany (30%), and Austria (31.8%). These countries have major drivers in sustainability and health. The global soybean derivatives market is moving from animal-based products to organic or plant-based foods. The increased availability of plant-based food and beverages has led to increased consumer acceptance. According to the Plant-based Foods Association, Washington, data shows that the US market for plant-based foods grew 27% in 2020. This brings the total market value to USD 7.4 billion.
Make Food Industry, a leading manufacturer of rice flour in Japan launched a new product called Rice Tempura Flour in America in February 2021. This product contains ingredients such as modified starch, soy, and emulsifiers. It is an alternative to wheat flour.
Life Health Foods Pvt. Ltd. was established in February 2021. Ltd. introduced So Good Protein+, a plant-based dairy-free product. This product contains 25 percent more protein than regular soy milk. This product is suitable for those who are lactose intolerant or are diet conscious.
Nestle introduced a Milo without dairy in Asia in April 2021. This product replaces milk with almond or soy. Milo is not the only product the company plans to introduce in the market.
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