Soybean Derivatives Market: Segmented: By Type (Soy Oil, Soy Milk, Soy Meal, Others), By Lecithin Processing (Water, Acid, Enzyme), By Application (Food & Beverages, Feed Industry, Others), By Sales Channel (Departmental Stores, Supermarkets, Online Retail, Others), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
[170 + Pages Research Report ] Soybean Derivatives Market to surpass USD 436.9 billion by 2031 from USD 221.3 billion in 2021 at a CAGR of 7% in the coming years, i.e., 2021-2031.
Soybean is widely cultivated for its edible bean, which has a wide range of applications. In late September, they begin to ripen. The leaves of soybean plants start turning yellow as the weather cools. The leaves become brown and fall off at the end of the year, revealing mature soybean pods that are ready to harvest. Large machines called combines are used to harvest soybeans and other grains such as corn and wheat. The soybean plants are cut and collected by the header on the front of the combine. The combine machine separates the soybeans from their pods and stems and deposits them in a holding tank at the back.
The soybean Derivatives Market is projected to reach a notable CAGR of 7% by 2031
Market expansion is being fueled by factors such as population increase and growing consumption of meat and soy-based health products. Furthermore, the global soy derivatives sector is expected to be driven by rising demand for biodiesel as a fuel alternative in the coming years.
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The Soy Meal segment is expected to witness maximum growth with the highest CAGR during 2021-31
On the basis of Type, the Soybean Derivatives Market is divided into Soy Oil, Soy Milk, Soy Meal, and Others. Due to the result of processing soybean flakes in a mechanical/chemical process to remove most of the oil, leaving behind a high protein content, the Soy meal sector is likely to lead the market over the projection period. Soymeal will also be used to make tofu, soybean milk, and other goods in the coming years.
The Food & Beverages segment is predicted to grow with the highest CAGR during 2021-31
Based on the Application, the Soybean Derivatives Market is divided into Food & Beverages, Feed Industry, and Others. In the future years, the food and beverage category is expected to develop at the fastest rate. The increased use of soy oil for cooking and other soybean derivatives like soy flour and the emulsifier lecithin in the production of processed foods like ice cream, chocolate, and baked goods is expected to boost the segment's growth.
Growing livestock production is driving the Soybean Derivatives Market
Soybean is an important plant-based protein source for improving community nutrition since, in addition to being safe for human health, it is also very inexpensive when compared to animal protein sources. Soybean is one of the few plant-based foods that contains all nine necessary amino acids. As a result, it has become a vital source of protein for both humans and animals. Due to expanding animal production around the world, soybean demand is now related to the global consumption of meat and is expected to grow in the coming years.
Government focus on production is also driving the market
China is one of the world's largest soybean consumers, importing the majority of its supply from North America. As a result, the government's increased focus on technical assistance to boost yields in China can help meet the demand for soy while alleviating land pressure in other regions of the world. With hundreds of small farmers participating, though, changing product practices will be difficult. However, the Chinese government has taken many steps to help extend the area of soybean cultivation.
Deteriorating quality of soil for production
Over the next few decades, demand for soy derivatives will keep rising. However, a reduction in agricultural areas and deteriorating soil quality as a result of the usage of toxic fertilizers are projected to limit market growth in the coming years. The increasing use of biomass and rest sugar derivatives such as sucrose for bio-plastic manufacture may also stifle the market for soy derivatives.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Soybean Derivatives Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America is the world's biggest producer and exporter of soybeans. Changes in food consumption habits and requirements, as well as a preference for vegetarian protein sources, are boosting the demand for soy protein components in the North American market. The health food industry's fastest expanding segment is the manufacture of soy protein-based goods, particularly soy drinks.
The COVID-19 epidemic has had an impact on a variety of businesses around the world. To slow the spread of the pandemic, governments around the world enacted tight lockdown measures and social distancing standards. During the early phases of the pandemic, manufacturing facilities all around the world were shut down. Furthermore, the post-pandemic economic crisis may cause a major delay in the commercial launch of the Soybean Derivatives Market. As a result, market participants faced several hurdles as supply chain interruptions were noticed.
Global Soybean Derivatives Market is further segmented by region into:
Soybean Derivatives Market Segments:
|The market size value in 2021||USD 221.3 billion|
|The revenue forecast in 2031||USD 436.9 billion|
|Growth Rate||CAGR of 7% from 2021 to 2031|
|The base year for estimation||
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2031|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, Lecithin Processing, Application, Sales Channel, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Bunge Ltd., Archer Daniels Midland Company, Louis Dreyfus Commodities Group, Cargill Incorporated, Wilmar International Limited, Noble Group Ltd., Ag Processing Inc., CHS Inc., DuPont Nutrition, Ruch Soya Commodity BV.|
The soybean Derivatives Market size was estimated at USD 221.3 billion in 2021 and is expected to reach USD 436.9 billion in 2031.
Soybeans are usually harvested mechanically after the leaves have fallen off the plant and the moisture content of the seed has dropped the percentage at which it can be stored safely.
The Soy Meal segment accounted for the largest Soybean Derivatives Market share.
Key players in the Soybean Derivatives Market include Bunge Ltd., Archer Daniels Midland Company, Louis Dreyfus Commodities Group, Cargill Incorporated, Wilmar International Limited, Noble Group Ltd., Ag Processing Inc., CHS Inc., DuPont Nutrition, Ruch Soya Commodity BV.
A significant increase in public awareness concerning the vast health perks of soybean has made soybean one of the most commonly used oilseeds in the food and beverages sector in the past few years. Hence, increasing the health benefits of soybean protein is majorly driving the market.
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