Market Size of Soybean Derivatives Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.76 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Soybean Derivatives Market Analysis
The soybean derivatives market is expected to record a CAGR of 5.76% during the forecast period (2022-2027).
The rising demand for high protein food due to the increased consumer health consciousness may foster the market's growth over the short term. Meanwhile, soybean derivative suppliers continue to make significant changes to address food manufacturers' functional and performance needs. Soy ingredients deliver value in nutrition, function, and cost and position flexibility in organics, general wellness, nutrient content, and health claims.
Geographically, Asia-Pacific dominates the soybean derivatives market, followed by North America. Europe is expected to have the fastest growth in the market.
Soybean Derivatives Industry Segmentation
Soybean derivatives are ingredients obtained from soybean either by crushing, drying, or other processing methods. The soybean derivatives market was segmented by type and application. The food and beverage segment is further segmented into bakery, breakfast cereals, pasta and noodles, meat and meat products, beverages, and other food and beverage segments. The study analyzes the soybean derivatives market in the emerging and established regions globally, including North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. The report offers market size and forecast for soybean derivatives in value (USD million) for all the above segments.
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| Soy Oil | |
| Soy Milk | |
| Soy meal | |
| Other Types |
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Soybean Derivatives Market Size Summary
The soybean derivatives market is poised for significant growth, driven by increasing consumer demand for high-protein foods and a shift towards more sustainable, plant-based diets. This trend is particularly evident in regions like Europe, where a substantial portion of the population is adopting flexitarian, vegetarian, or vegan lifestyles, motivated by health and sustainability concerns. The market is characterized by the versatility of soy ingredients, which offer nutritional, functional, and cost benefits, making them appealing to food manufacturers. The Asia-Pacific region currently leads the market, with North America also playing a crucial role due to its status as a major producer and exporter of soybeans. The growing acceptance and availability of plant-based foods and beverages are further propelling the market's expansion.
The competitive landscape of the soybean derivatives market is marked by the presence of numerous domestic and multinational companies, with key players such as Cargill Incorporated, Archer Daniels Midland Company, CHS Inc., Bunge Limited, and Louis Dreyfus Company BV actively vying for market share. These companies are focusing on product innovation and strategic expansions, including mergers, acquisitions, and partnerships, to enhance their market presence. Notable developments include Bunge's acquisition of soy processing plants and CHS's expansion of soybean oil refining capacity. Additionally, collaborations like the joint venture between ADM and Marfrig highlight the industry's commitment to supplying a diverse range of plant-based products across the Americas.
Soybean Derivatives Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Soy Oil
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2.1.2 Soy Milk
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2.1.3 Soy meal
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2.1.4 Other Types
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2.2 By Application
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2.2.1 Food and Beverages
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2.2.1.1 Bakery
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2.2.1.2 Breakfast cereals
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2.2.1.3 Pastas and Noodles
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2.2.1.4 Meat and Meat Products
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2.2.1.5 Beverages
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2.2.1.6 Other Food and Beverages
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2.2.2 Feed
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2.2.3 Other Applications
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 Germany
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 South Africa
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2.3.5.2 United Arab Emirates
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2.3.5.3 Rest of Middle-East and Africa
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Soybean Derivatives Market Size FAQs
What is the current Soybean Derivatives Market size?
The Soybean Derivatives Market is projected to register a CAGR of 5.76% during the forecast period (2024-2029)
Who are the key players in Soybean Derivatives Market?
Archer Daniels Midland Company, Bunge Limited, CHS Inc., Cargill Incorporated and Louis Dreyfus Company BV are the major companies operating in the Soybean Derivatives Market.
