lobal Soybean Derivatives Market Expected to Reach $278.77 Billion in 2023, Driven by Increasing Demand and Product Innovations

Dublin, Sept. 19, 2023 (GLOBE NEWSWIRE) -- The "Soybean Derivatives Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global soybean derivatives market is expected to exhibit substantial growth, with a CAGR of 8% from 2022 to 2023, reaching $278.77 billion in 2023.

Over the forecast period until 2027, the market is projected to grow at a CAGR of 7.6%, reaching $374.36 billion. This growth can be attributed to various factors, including the increasing demand for soybean derivatives, product innovations, and a rising vegan population.

Market Segmentation

The market is segmented based on various factors:

1. Product Types:

• Soy Oil
• Soy Milk
• Soy Meal
• Others

2. Sales Channels:

• Departmental Stores
• Supermarkets
• Online Retail
• Other Channels

3. Applications:

• Food and Beverages
• Feed Industry
• Other Applications

4. Region:

• Asia-Pacific
• Western Europe
• Eastern Europe
• North America
• South America
• Middle East and Africa

Key Market Players

Key players in the soybean derivatives market include Bunge Ltd., Archer Daniels Midland and Company, Louis Dreyfus Commodities B.V., Cargill Incorporated, Wilmar International Limited, Noble Group Ltd., AG Processing Inc., CHS Inc., DuPont Nutrition and Health, Ruchi Soya Industries Limited, Noble Group Ltd., AG Processing Inc., Gavyadhar Organic Private Limited, and Terra Firma Organic Private Limited.

Market Trends and Opportunities

• Product Innovations: Product innovations are a key trend in the soybean derivatives market, with major companies introducing innovative products to sustain their market position. For example, Marico launched Saffola Soya Bhurji, a ready-to-cook product made from high protein soya, catering to health-conscious consumers.
• Acquisitions: Companies like Cargill have been expanding their soybean processing facilities through acquisitions. In November 2022, Cargill acquired Owensboro Grain Company to further strengthen its presence in the market.
• Rising Vegan Population: An increase in the vegan population is expected to drive the growth of the soybean derivatives market. Soybean products are popular among vegans due to their high nutritional value. According to Sentient Media, the global vegan food market grew to $15.77 billion in 2021 from $14.44 billion in 2020.

Regional Insights

• North America: North America was the largest region in the soybean derivatives market in 2022.
• Asia-Pacific: The Asia-Pacific region is expected to be the fastest-growing region in the forecast period.

Key Attributes:

Key Topics Covered:

1. Executive Summary

2. Soybean Derivatives Market Characteristics

3. Soybean Derivatives Market Trends And Strategies

4. Soybean Derivatives Market - Macro Economic Scenario
4.1. COVID-19 Impact On Soybean Derivatives Market
4.2. Ukraine-Russia War Impact On Soybean Derivatives Market
4.3. Impact Of High Inflation On Soybean Derivatives Market

5. Soybean Derivatives Market Size And Growth
5.1. Global Soybean Derivatives Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Soybean Derivatives Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Soybean Derivatives Market Segmentation
6.1. Global Soybean Derivatives Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Soy Oil
• Soy Milk
• Soy meal
• Other Types

6.2. Global Soybean Derivatives Market, Segmentation By Lecithin, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Water
• Acid
• Enzyme

6.3. Global Soybean Derivatives Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Departmental Stores
• Supermarkets
• Online Retail
• Other Channels

6.4. Global Soybean Derivatives Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Food And Beverages
• Feed Industry
• Others Applications

7. Soybean Derivatives Market Regional And Country Analysis
7.1. Global Soybean Derivatives Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Soybean Derivatives Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

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• Global Soybean Derivatives Market