How Has The Soybean Derivatives Market Size Evolved In Recent Years?
The soybean derivatives market has seen considerable growth due to a variety of factors.
• The dimension of the soybean derivatives market has seen robust growth recently. The market will expand from $300.12 billion in 2024 to $324.08 billion in 2025, with a compound annual growth rate (CAGR) of 8.0%. The growth during the historical period can be credited to the expansion in agribusiness, increased protein requirements, heightened health consciousness, applications in the food industry, governmental support, and the demand for soybean oil.
What Is The Projected Growth Of The Soybean Derivatives Market in the Coming Years?
The Soybean Derivatives market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations are high for robust expansion in the soybean derivatives market in the coming years, with projections for it to escalate to $455.81 billion by 2029, showcasing a compound annual growth rate (CAGR) of 8.9%.
The predicted growth during this forecast period can be ascribed to factors including the rise of clean label products, the burgeoning plant-based meat sector, alternative applications in non-food industries, global commerce, burgeoning populations, and economic progression. Key trends expected during this period encompass innovation in product creation, the utilization of soy lecithin in food processing, biofuel manufacturing, investment in research, and the promotion of sustainable farming practices.
What Are The Key Drivers Fueling Growth In The Soybean Derivatives Market?
The rise in the number of vegans is predicted to fuel the expansion of the soybean derivatives market. The vegan community comprises of individuals who consume vegan products. Soybeans are an excellent source of protein, offering equivalent nutritional benefits to non-vegetarian food. As a result, vegans favor soybean products to glean these nutritional advantages. For example, Finder, a US-based personal finance comparison website, reported in April 2024 that around 2.5 million people in the UK are vegan, accounting for 4.7% of the population. This is a considerable increase from the 1.4 million vegans (2.5%) reported in 2023, representing a growth of 1.1 million UK vegans over a single year. Consequently, the surging vegan population propels the soybean derivatives market.
What Are The Principal Market Segments In The Global Soybean Derivatives Industry?
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, Super markets, 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)
Subsegments:
1) By Soy Oil: Refined Soy Oil, Crude Soy Oil, Soybean Lecithin
2) By Soy Milk: Sweetened Soy Milk, Unsweetened Soy Milk, Flavored Soy Milk
3) By Soy Meal: Dehulled Soy Meal, Roasted Soy Meal, Soy Protein Isolate
4) By Other Types: Soy Flour, Soy Protein Concentrate, Tofu, Tempeh
Pre-Book The Soybean Derivatives Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Emerging Market Trends Are Altering The Soybean Derivatives Industry?
One of the emerging trends in the soybean derivatives market is the introduction of new products. To maintain their status within the market, key companies in the industry are launching innovative items. For example, in November 2022, Marico, a business based in India that specializes in plant-based foods, introduced Saffola Soya Bhurji. This innovative mixture of soya is a first in the market of ready-to-cook foods, boasting high protein and zero oil, thus expanding Marico's plant-based food range.
Who Are the Key Players In The Soybean Derivatives Market?
Major companies operating in the soybean derivatives market include:
• Bunge Ltd
• Archer Daniels Midland and Company
• Louis Dreyfus Commodities B.V.
• Cargill Incorporated
• Wilmar International Limited
• 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
• Solbar Industries Ltd.
• SunOpta Inc.
• Scoular Company
• Ceres Global Ag Corp
• American Natural Processors Inc.
• Iowa Soybean Processors (ISP)
• Batory Foods
• Fuerst Day Lawson Holdings Limited
• Fuji Vegetable Oil Inc.
• Sojaprotein
• Arizona Grain Inc.
• Jiangsu Hongda New Material Co. Ltd.
• Cosucra
• Vippy Industries Ltd.
What Are The Regional Insights Into The Soybean Derivatives Market?
North America was the largest region in the soybean derivatives market in 2024. Asia-Pacific is expected to be the fastest-growing region in the soybean derivatives market during the forecast period. The regions covered in the soybean derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
