Soy Derivatives Market Report Statistics, Development and Trends, Growth Rate, Key Companies, Regional Analysis forecast year 2028
Soy Derivatives Market Overview:
Soy derivatives are products sourced from raw soybeans.
These derivatives include soy protein, soy meal, soy oil, and soy milk. These
products find substantial traction from various end-user industries like animal
feed, food & beverage, and personal care that can influence the market
growth in the coming years.
The Soy
Derivatives Market Report is projected to grow from $216.42 Billion
in 2021 to $344.08 billion in 2028 at a CAGR of 6.11% in the forecast period
2021-2028. Market Research Future (MRFR) makes an additional claim that ensures
better market growth of the product in the coming years.
Features like its functional benefits, high protein content,
and others are expected to provide the soy derivatives market strong ground.
The increasing risk of obesity is also making a large number of people adopt
soy derivatives. It has evolved well as an alternative of meat, which makes it
popular among vegans and vegetarians. The animal feed industry is also gaining
traction from the soy derivatives market. But the ethical and legal concern
related to genetic modification of soybean can be taken as a market deterrent.
Segmentation:
The global soy derivatives market, as per the analysis of
MRFR, can be segmented on the basis of type, category, and application. Such a
segmentation focuses mostly on various factors that can inspire the recent
market growth.
By type, the soybean derivatives market can be segmented
into soy meal, soy oil, soy lecithin, soy protein, soy milk, and others. The
soy protein segment includes soy protein isolates, soy flour, and soy protein
concentrates.
Based on the category, the global soy derivatives market can
be segmented as conventional and organic. The organic segment is gaining
grounds owing to strong traction provided by recently growing health
consciousness.
Based on the application, the global soy derivatives market
can be segmented into personal care, pharmaceuticals & nutraceuticals, food
& beverage, animal feed, and others. The food & beverage segment
includes bakery and confectionery, beverages, RTE & RTC food, and others.
Regional Analysis:
North America, South America, Europe, Asia Pacific (APAC),
and the Middle East & Africa (MEA) are regions that have been included in
the global study of the soy derivatives market. This region-specific analysis
can gain significant traction owing to its focus on demographic challenges that
can provide better analytical report to bolster future market plans.
North America & Europe are quite aggressive in their
production of soy derivatives owing to the growing number of vegans in the
region. Superior farming technology and better data regarding the soy
derivatives are expected to promote the market in these regional spheres. At
the same time, several other countries are expected to launch their own
strategies to cement their market growth and intensify production rate to
maintain the growth rate of the market. The US, Canada, and others are
significant contributors from these two regions.
The APAC market is expecting strong growth in the coming
years owing to the demand generated by countries like China and India where a
huge population is now leaning towards soy beans for production of various
derivatives. These countries are expected to promote the market in the coming
years. In South America, Brazil is expected to make strong grounds for itself.
Competitive Landscape:
Companies are taking much initiatives in taking the global Key
Soy Derivatives Market Players forward. These companies are implementing
various market strategies like merger, acquisition, collaboration, and others
to gain grounds in the global Soy
Derivatives Market Research. These companies are Ruchi Soya
Industries Ltd (India), Cargill Inc. (US), CHS Inc. (US), Noble Group Ltd (Hong
Kong), Dupont Nutrition and Health (US), Archer Daniels Midland Company (US),
Wilmar International Ltd (Singapore), Louis Dreyfus Company BV (Netherlands),
Bunge Ltd (US), and AG Processing Inc. (US). MRFR profiled them for a better
understanding of trends that can inspire market movement in the coming years.
As per the recent progresses in the global market, the
ensuing trade war between China and the US is making China look for soybean
from other countries beyond Brazil. Brazil is their biggest supplier at the
moment but the supply would not be enough.
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