The global soybean derivatives market size is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rising economy coupled with increasing disposable income. Moreover, growing adoption of soybean derivatives in food & beverages industry and industrial applications is driving the market growth.
Soybean or soya bean is a species of legume native to East Asia, widely grown for its edible bean. Soybeans are used to produce various food products such as soy milk, from which tofu is made, an alternative for vegan population for cottage cheese.
Soybeans can reduce the risk of a range of health problems, including cardiovascular diseases such as stroke, coronary heart disease (CHD), some cancers, and can improve bone health. Soya chunks are made from defatted soy flour, a by-product of extracted soybean oil. It has a protein content, which is equivalent to same quantity of meat. It is quick and easy to cook. One can prepare many dishes using soya chunks, such as soya chunks curry, kurma, and can add them to soups and stir fries.
Soybeans are high in protein and decent source of both carbs and fat. They are a rich source of various vitamins, minerals, and beneficial plant compounds, such as isoflavones. Regular soybean intake may alleviate the symptoms of menopause and reduce risk of prostate and breast cancer.
The report on the global soybean derivatives market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Soybean Derivatives Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Segmentation | Types (Soy oil, Soy milk, Soy meal, and Others) and Applications (Food and Beverages, Feed, and Others) |
Regional scope | North America, Latin America, Europe, Asia Pacific and Middle East & Africa |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report | Cargill, Incorporated, Archer Daniels Midland Company, CHS Inc., Bunge Limited, and Louis Dreyfus Company B.V. |
Soy oil segment to grow at a rapid pace
Based on types, the market is divided into soy oil, soy milk, soy meal, and others. The soy oil segment is anticipated to account for a key share and is expected to grow at a steady rate during the forecast period. Growing awareness among consumers regarding its health benefits such as reduction in obesity level and blood sugar level and its wide application in various food products such as baked goods and snacks is driving the segment growth. However, the soy milk segment is expected to grow at a steady rate owing to increasing number of lactose intolerant people across the globe.
Food & Beverages segment to account a major market share
Based on applications, the market is divided into food & beverages, feed, and others. The food & beverages segment is anticipated to account for a major share due to rising demand for soy-based food products in breakfast or meal owing to its nutritional benefits. On the other hand, the feed segment is expected to grow at a substantial rate in the coming years.
Asia Pacific to account a considerable market share
On the basis of regions, the market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia pacific is expected to hold a considerable market share owing to rising consumption of soy meal and soy milk in India and China. Conversely, the market in North America is expected to grow at a healthy rate owing to increasing number of people adopting vegan diet.
Segments Covered in the Report
The global soybean derivatives market has been segmented on the basis of
Types
Applications
Key Players
The major players of the market are Cargill, Incorporated, Archer Daniels Midland Company, CHS Inc., Bunge Limited, and Louis Dreyfus Company B.V.
Companies are focusing on innovation, expansion, and acquisitions to expand their market share.
Segments Covered in the Report
The global soybean derivatives market has been segmented on the basis of
Types
Applications
Key Players
The major players of the market are Cargill, Incorporated, Archer Daniels Midland Company, CHS Inc., Bunge Limited, and Louis Dreyfus Company B.V.
Companies are focusing on innovation, expansion, and acquisitions to expand their market share.
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