Global Soybean Derivatives Market

Soybeans are a type of legume largely produced in East Asia, widely grown for their edible grains. They contain large amounts of protein, vitamins, minerals, and phytic acid. Soybeans and their derivatives have a number of end-uses in the food and beverage industry such as vegetable oil, packaged meals, animal nutrition, etc. Rapid growth in the food and beverage industry coupled with increased consumption of protein is driving the market growth. According to Statista, the worldwide consumption of protein in 2020 was over 342 million metric tons, in which, soybean was one of the major protein meals. Growing demand for animal protein products and overall growth in the animal feed industry is also expected to fuel the market growth. Also, the development of new soy derivatives will open up new opportunities for the market. However, the low shelf life of soybean and health concerns related to excessive consumption of soybean derivatives may impede the market growth over the forecast period.

Global Soybean Derivatives Market is valued approximately at USD 201.9 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.79% over the forecast period 2021-2027 is estimated to reach USD 341.3 billion by 2027.

The regional analysis of the global soybean derivatives market includes key regions such as Asia Pacific, Europe, North America, Latin America, and the Rest of the World. The Asia Pacific dominates the market in terms of market share due to the growing demand and adoption of soybean products in the region. However, North America is estimated to exhibit the highest CAGR over the forecast period due to rising demand from the food and beverage industry and the abundance of soy crops in the region.

Major market players included in this report are Bunge Ltd, Cargill Inc, CHS Inc, Louis Dreyfus Commodities B.V., Wilmar International Limited, Ruchi Soya Industries Limited, Noble Group Ltd, Archer Daniels Midland and Company, DuPont Nutrition Limited, and AG Processing Inc.

The detailed segments and sub-segment of the market are explained below:

By Product Type: Soybean, Soy Meal, Soy Oil, Others
By Processing: Water, Acid, Enzyme, Others (Membrane)
By Application: Feed, Food, Other Industrial Application

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Bizwit Research & Consulting LLP