Global Soybean Derivatives Market Size Insights Forecasts to 2032

• The Global Soybean Derivatives Market Size was valued at USD 268.4 Billion in 2022.
• The Market Size is Growing at a CAGR of 7.24% from 2022 to 2032
• The Worldwide Soybean Derivatives Market Size is expected to reach USD 539.9 Billion by 2032
• North America is expected to Grow the fastest during the forecast period

 

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The Global Soybean Derivatives Market Size is expected to reach USD 539.9 Billion by 2032, at a CAGR of 7.24% during the forecast period 2022 to 2032.

 

Future Market Size Growth for soybean derivatives is expected to be led by an increase in the number of vegans. The population who consumes vegan foods is the vegan population. The vegan community prefers soybean products for providing those nutritional qualities since soybean is an excellent source of protein and provides high nutritional values, much as non-vegetarian meals.

The production of soybeans is greatly affected by the requirement to obtain its edible bean, which has a variety of uses. Soybean could be used unfermented to make soy milk, which is then used to make tofu or tofu skin. The legume is used to make fermented bean paste, tempeh, soy sauce, natto, and other products once it has undergone fermentation. Because of its widespread low-cost availability and high protein content, defatted or fat-free soybean is consumed, and it has become a top option among vegan or vegetarian consumers of food. Vitamin B, dietary minerals, and phytic acid are all abundant in soy. In addition to being used in cooking, soy-based vegetable oil also has industrial uses. When a soybean Grows from a seed into a mature plant, it goes through a number of morphological changes, just like other plants. The initial stage, often known as germination, involves the development of seed radicles. The natural process of germination takes place after the seed's stages of challenge.  

 

Driving Factors

In addition to being safe for health and being relatively affordable in comparison to sources of animal protein, soybeans serve a vital role as an essential plant-based protein source to improve community nutrition. One of the few plant-based foods that contains all nine necessary amino acids is soybean. As a result, it has emerged as a significant source of both animal and human protein. About 70 to 80 percent of its crop is utilized for animal feed, with the remainder going directly into human food. The demand for soybeans is currently correlated with the world's meat consumption and is expected to rise over the future years as a result of increased animal revenue throughout the world.

 

Restraining Factors        

Over the next years, there will be an increase in demand for soy derivatives. However, a reduction in agricultural land and decreasing soil quality caused by the usage of toxic fertilizers is expected to hamper market expansion in the years to come. Furthermore, the market's expansion is going to be limited by soy's high concentration of harmful unsaturated fatty acids for human health. The Growing use of biomass and other sugar derivatives like sucrose for the production of bioplastics may potentially restrain the expansion of the soy derivatives industry.

 

Market Segmentation

By Type Insights

The soy meal segment dominates the market with the largest revenue share over the forecast period.

On the basis of type, the global soybean derivatives market is segmented into soy meal, soy oil, soy milk, and soy flour. Among these, the soy meal segment is dominating the market with the largest revenue share of 71% over the forecast period. Soybean meal is mostly used as a protein supplement in food and animal feed, but it can also be utilized as a source of metabolizable energy. A soybean meal may or may not include ground soybean hulls. Throughout production, soybean meal is heated to destroy the trypsin inhibitors that would otherwise prevent protein digestion.

 

By Lecithin Processing Insights

The water segment is witnessing significant CAGR Growth over the forecast period.

On the basis of lecithin processing, the global soybean derivatives market is segmented into water, acid, and enzyme. Among these, the water segment is witnessing significant CAGR Growth over the forecast period. Water is primarily used in the extraction of lecithin from soybean derivatives. Since the soy is not soluble in water.

 

By Food Insights

The protein segment is expected to hold the largest share of the global soybean derivatives market during the forecast period.

Based on the food, the global soybean derivatives market is classified into protein, fat, and fiber. Among these, the protein segment is expected to hold the largest share of the global soybean derivatives market during the forecast period. Protein helps to maintain muscle and encourages muscle Growth. used to create and repair tissues as well.

 

By Application Insights

The food & beverages segment accounted for the largest revenue share of more than 53% over the forecast period.

On the basis of application, the global soybean derivatives market is segmented into the food & beverages and feed industry. Among these, the food & beverages segment dominates the market with the largest revenue share of 53% over the forecast period. The creation of processed foods, such as chocolate, ice cream, and baked goods, will probably boost the use of soy oil for cooking and other soy derivatives, such as soy flour.

 

Furthermore, a large portion of soy is processed into high-protein soymeal, which is mainly utilized in the manufacturing of animal feed considering that it is one of the most affordable and environmentally friendly sources of protein.

 

 

Regional Insights

Asia-Pacific dominates the market with the largest market share over the forecast period.

 

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Asia-Pacific is dominating the market with more than 62% market share over the forecast. In Asia Pacific, the demand for the product has been boosted by expanding consumption of plant-based foods, rising family income, and rising demand for chicken and other meat. Local market companies are attempting to enhance their positions in the Asian market by expanding their product ranges. For instance, the Indian health beverage firm Life Health Foods introduced the So Good brand in February 2021. The business provides dairy-free plant-based milk under this new brand, as well as wholesome and nourishing soy beverages.

 

North America, on the contrary, is expected to Grow the fastest during the forecast period. The continuous Growth of the American market is predicted to be supported by the growing customer trend towards a vegan or vegetarian diet, the rise in the number of people who are lactose intolerant, and ongoing industry innovation. Key players' presence, the expanding area under soybean farming, and the region's easy access to raw materials like beans are all expected to have a beneficial effect on the overall growth picture.

 

Europe market is expected to register a substantial CAGR growth rate during the forecast period. The region's use of soy is also influenced by the rising support for the manufacture of biofuels.

 

List of Key Market Players

• Archer Daniels Midland Company 
• Wilmar International Ltd.
• AG Processing Inc.
• DuPont Nutrition and Health 
• Noble Group
• Tyson Foods
• Cargill
• CHS Inc.
• Bunge Limited
• Louis Dreyfus Company B.V.

 

Key Market Developments

• On November 2022, A US-based food company called Cargill purchased Owensboro Grain Company for an unknown sum. Cargill increased the size of its soybean processing plant with this acquisition. A US-based business called Owensboro Grain Company works in the market for soybean derivatives.
• On February 2021, A brand-new item called Rice Tempura Flour was introduced in the United States by Mitake Food Industry, one of the top producers of rice flour in Japan. This product contains emulsifiers, soy, modified starch, and a flour substitute instead of wheat.

 

Market Segment

 

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global soybean derivatives market based on the below-mentioned segments:

 

 

 

 

Soybean Derivatives Market, Type Analysis

• Soy Meal
• Soy Oil
• Soy Milk
• Soy Flour

 

 

Soybean Derivatives Market, Lecithin Processing Analysis

• Water
• Acid
• Enzyme

 

 

Soybean Derivatives Market, Food Analysis

• Protein
• Fat
• Fiber

 

 

Soybean Derivatives Market, Application Analysis

• Food & Beverages
• Feed Industry
• Others

 

 

Soybean Derivatives Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa