Global Soybean Derivatives Market Size Will Grow to Be Worth More Than $346.91 Billion by 2030, Expanding at a CAGR of 7.71%, Research Says

Houston, TX, Jan. 18, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Soybean Derivatives Market By Application (Food, Feed, And Others), By Processing (Enzyme, Acid, Water, And Others), By Product Type (Soy Oil, Soy Meal, Soybean, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” in its research database.

“According to the latest research study, the demand of global Soybean Derivatives Market size & share in terms of revenue was valued at USD 191 billion in 2021 and it is expected to surpass around USD 346.91 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.71% during the forecast period 2022 to 2030.”

What are Soybean Derivatives? How big is the Soybean Derivatives Industry?

The soybean derivatives market refers to the market for products derived from soybeans, including soybean oil, soy protein, and soy lecithin. Soybean derivatives are used in a wide range of food and industrial applications.

Soybean Derivatives Report Coverage & Overview:

Soybean is a legume from the Glycine max family and is also called soybean in many countries. It has gained massive popularity due to its richness in polyunsaturated oil and because it is a great source of plant-based protein. The demand for soybean and its derivatives witnessed exponential growth mainly after World War II. For the population that does not consume any form of meat, soybean can provide essential amounts of Omega-6 and Omega-3 fatty acids.

Direct food applications of the legume include the production of tofu and soya milk whereas in the fermented form it can be used as sauces or paste amongst other products. Like other legumes in the market, soybeans are capable of fixing atmospheric nitrogen owing to the presence of symbiotic bacteria. More than 56% of the soybean content is made of soybean oil and protein. Generally, healthy soya beans contain 35 to 40% of protein when dried and 18 to 20% of triglyceride. During soybean processing, they are first dissolved in solvents to extract the vegetable oil which is further used to create animal feed.

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Global Soybean Derivatives Market: Growth Dynamics

The global soybean derivatives market is projected to grow owing to the high application of soy derivatives in the animal feed sector, one of the fastest-growing industries. As estimated more than three-fourths of the total soy produced in the world is used to produce animal feed. As the demand for meat and meat-based products grows, the demand for soybean derivatives is projected to grow simultaneously.

Even though there is a growing shift in consumer preference towards non-meat food products, there is still a large section of the population that consumes some form of meat. As per a Statista report, more than 328 million metric tons of meat were consumed in 2021. 86% of the people surveyed across 39 countries accepted that meat was an important part of the diet. The growing fast-food industry, one of the biggest sellers of meat-based products, is a major reason for the demand for animal fodder since animals are bred on farms in large quantities.

The global market growth may be disturbed owing to the high cost of input materials. Price of soybean oil has reached new heights owing to the sudden increase in demand for the product for industrial applications and in the food industry. This has hampered the supply and demand chain and is currently one of the major challenges faced by the global market players.

The market size and growth of the soybean derivatives industry is dependent on factors such as population growth, technological advancements, and government policies related to agriculture and food industry. The market is also influenced by trends such as increasing demand for natural and organic ingredients, and growing popularity of e-commerce for food sales.

Increasing applications of soybean derivatives to produce biodiesel may provide growth opportunities while controlling weed in soybean is a major challenge for the global market players.

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Report Scope

Soybean Derivatives Market: Segmentation Analysis

The global soybean derivatives market is segmented based on application, processing, product type, and region.

Based on processing, the global market divisions are enzyme, acid, water, and others. In 2021, the global market witnessed the highest revenue in the enzyme sector. Some of the most commonly used enzymes are soy peptone. However, hydrolysis, the use of water to chemically break down a compound, also followed closely. Hydrolysis of soybean is generally carried out with papain, pepsin, and alcalase as they are the most effective. The proteolytic activities of papain are around 95.9%, while that of pepsin and alcalase are around 100%.

Based on product type, the global market divisions are soy oil, soy meal, soybean, and others. Soy oil was the most dominating segment in the global market during 2021 due to increasing product adoption as a cooking oil. More than 96% of soybean oil produced for commercial purposes is used in cooking including margarine and salad dressings. Since it also has industrial applications, the product witnessed higher demand. Unrefined soybean oil also known as crude oil is used in industries as it is used as a solvent by extracting it using chemical and mechanical methods.

The global Soybean Derivatives market is segmented as follows:

By Application
Soybean oil is the most widely produced and consumed soybean derivative. It is used as an ingredient in many food products, as well as in biofuels and industrial products. Soy protein is used as an ingredient in many food products, including meat alternatives, protein bars, and other functional foods. Soy lecithin is used as an emulsifier in food products, as well as in the production of cosmetics, pharmaceuticals, and other products.

• Food
• Feed
• Others

By Processing

• Enzyme
• Acid
• Water
• Others

By Product Type

• Soy Oil
• Soy Meal
• Soybean
• Others

Browse the full “Soybean Derivatives Market By Application (Food, Feed, And Others), By Processing (Enzyme, Acid, Water, And Others), By Product Type (Soy Oil, Soy Meal, Soybean, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” Report at https://www.zionmarketresearch.com/report/soybean-derivatives-market

Competitive Landscape

Some of the main competitors dominating the global Soybean Derivatives market include - 

• Cargill Inc.
• Bunge Limited
• Wilmar International Company
• Ruchi Soya Industries Limited
• Archer Daniels Midland Company
• DuPont Nutrition and Health
• AG Processing Inc
• Louis Dreyfus Commodities

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Soybean Derivatives market is likely to expand at a CAGR of around 7.71% during the forecast period (2022-2030).                  
• In terms of revenue, the Soybean Derivatives market size was valued at around US$ 191 billion in 2021 and is projected to reach US$ 346.91 billion by 2030.
• The global soybean derivatives market is projected to benefit from the changing consumption pattern amongst end-consumers.
• Based on application segmentation, the feed was predicted to show maximum market share in the year 2021
• Based on product type segmentation, soy oil was the leading type in 2021
• On the basis of region, North America was the leading revenue generator in 2021

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Key questions answered in this report:

• What is the market size and growth rate forecast for Soybean Derivatives industry?
• What are the main driving factors propelling the Soybean Derivatives Market forward?
• What are the leading companies in the Soybean Derivatives Industry?
• What segments does the Soybean Derivatives Market cover?
• How can I receive a free copy of the Soybean Derivatives Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2022−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Application, By Processing, By Product Type and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America is projected to lead the global soybean derivatives market owing to the high demand for these compounds in the animal feed sector which is further propelled by a large number of meat-consuming populations. In countries like Mexico, Brazil, the US, and Canada, meat is a staple in different forms. American citizens are known to consume more than 250 pounds of meat annually as per a recent survey by Ipsos, almost 89% of the respondents include meat in their diet. Asia-Pacific may register a high CAGR since soybean is indigenous to East Asia and hence has a large market for the products derived from soy. China and India. This may lead the regional market growth as they rank at the fourth and fifth position respectively in the list of the world's largest producers of soy. The growing application of soy derivatives in the cooking sector may generate higher revenue.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In April 2021, ADM announced the construction of a new soy-crushing unit in North Dakota
• In March 2021, Cargill Inc. announced the company’s plan to upgrade its soy processing operation by an estimated USD 475 million

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FREQUENTLY ASKED QUESTIONS

• Which key factors will influence soybean derivatives market growth over 2022-2030?
• What will be the value of the soybean derivatives market during 2022-2030?
• Which region will contribute notably towards the soybean derivatives market value?
• Which are the major players leveraging the soybean derivatives market growth?

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