Press release
Soybean Derivatives Market Size, Share , Latest Trends, Key Players And Forecast To 2033
Soybean Derivatives Market Analysis
The Business Research Company offers in-depth market insights through Soybean Derivatives Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The soybean derivatives market size has grown strongly in recent years. It will grow from $277.93 billion in 2023 to $300.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to agribusiness expansion, rising protein demand, health awareness, food industry applications, government support, soybean oil demand..
The soybean derivatives market size is expected to see strong growth in the next few years. It will grow to $417.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to clean label products, plant-based meat industry, alternative uses in non-food industries, global trade, population growth, economic development.. Major trends in the forecast period include innovation in product development, soy lecithin in food processing, biofuel production, investments in research and development, sustainable agriculture practices..
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Market Segmentation:
The soybean derivatives market covered in this report is segmented -
1) By Type: Soy Oil, Soy Milk, Soy meal, Other Types
2) By Lecithin: Water, Acid, Enzyme
3) By Sales Channel: Departmental Stores, Supermarkets, Online Retail, Other Channels
4) By Application: Food And Beverages, Feed Industry, Others (soy-based wood adhesives, soy ink, soy crayons, soy-based lubricants and many more)
Major Driver - Soybean Derivatives Market Driven By Surging Demand Among The Growing Vegan Population
An increase in the vegan population is expected to propel the growth of the soybean derivatives market going forward. The vegan population is the population that consumes vegan products. Soybean is a good source of protein which gives high nutritional values, same as nonvegetarian food, as a result, the vegan population prefers soybean products to inculcate those nutritional values. For instance, in May 2022, according to Sentient Media, a US-based journal website, globally, the vegan food market grew to $15.77 billion in 2021 from $14.44 billion in 2020. Therefore, an increase in the vegan population drives the soybean derivatives market.
Competitive Landscape:
Major companies operating in the soybean derivatives market report are Bunge Ltd, Archer Daniels Midland and Company, Louis Dreyfus Commodities B.V., Cargill Incorporated, Wilmar International Limited, Noble Group Ltd., AG Processing Inc., Cenex Harvest States Inc., DuPont Nutrition and Health, Ruchi Soya Industries Limited, Gavyadhar Organic Private Limited, Terra Firma Organic Private Limited, Ingredion Incorporated, Calbee Inc., Solbar Industries Ltd., SunOpta Inc., Scoular Company, Ceres Global Ag Corp, American Natural Processors Inc., Iowa Soybean Processors (ISP), The Scoular Company, Batory Foods, Fuerst Day Lawson Holdings Limited, Fuji Vegetable Oil Inc., Pilgrim's Pride Corporation, Sojaprotein, Arizona Grain Inc., Jiangsu Hongda New Material Co. Ltd., Cosucra, Vippy Industries Ltd. .
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Top Trend - Key Players Introducing Innovative Combinationf Of Products To Expand Its Plant-Based Food Portfolio
Product innovations are a key trend gaining popularity in the soybean derivatives market. Major companies operating in the soybean derivatives market are introducing innovative products to sustain their position in the market. For instance, in November 2022, Marico, an India-based company operating in the plant-based food market, launched Saffola Soya Bhurji, an innovative combination of soya, and expanded its plant-based food portfolio. This product is a first-of-its-kind ready-to-cook made from high protein, a healthier option with zero oil.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Soybean Derivatives Market Characteristics
3. Soybean Derivatives Market Trends And Strategies
4. Soybean Derivatives Market - Macro Economic Scenario
5. Soybean Derivatives Market Size And Growth
…..
27. Soybean Derivatives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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