Soybean Derivatives Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

The Soybean Derivatives Market is Segmented by Type (Soy Oil, Soy Milk, Soy Meal, and Other Types), Application (Food and Beverages, Feed, and Other Applications), and Geography (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.

Market Snapshot

Soybean Derivatives Market Growth
Study Period: 2016 -2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 5.76 %
Soybean Derivatives Market Major Players

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Market Overview

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.

Scope of the Report

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.

By Type
Soy Oil
Soy Milk
Soy meal
Other Types
By Application
Food and Beverages
Bakery
Breakfast cereals
Pastas and Noodles
Meat and Meat Products
Beverages
Other Food and Beverages
Feed
Other Applications
By Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
South Africa
United Arab Emirates
Rest of Middle-East and Africa

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Key Market Trends

Increased Demand for Plant-based Protein

Consumer tastes are shifting toward a more nutritious diet focusing on a more sustainable lifestyle and less reliance on animal proteins. According to the Veganz study, 23% of Europeans are flexitarian. Among the 23%, most (57%) want to become vegetarians, while 8% hope to adopt a vegan diet. At the country level, major European countries with flexitarian eaters are Austria (31.8%), Germany (30%), and Portugal (28.6%), with major drivers being health and sustainability. This shift from traditional animal-based products to organic and plant-based food items as an optimum dietary option is paving the way for the soybean derivatives market globally. Consumer acceptance of plant-based foods and drinks increased in recent years due to a broader range of product availability, enhanced product development and innovation in plant-based proteins, and a wider range of accessible alternatives and replacements. For instance, the US retail sales of plant-based foods grew by 27% in 2020, bringing the market value to USD 7 billion, according to data from the Plant-based Foods Association and The Good Food Institute, Washington.

Soybean Derivatives Market Share

North America to Drive the Global Market

North America is a leading producer and exporter of soybean in the world. The driving factors for soy protein ingredients in North America are the changing food consumption patterns and food requirements and inclination toward vegetarian products for protein sources. Moreover, as per the data released by the Soy Nutrition Institute, the United States produces about one-third of all soybeans in the world, followed closely by Brazil and Argentina. This factor is increasing the scope for further production of soy ingredients in the country. The production of soy protein-based products, particularly beverages made from soy, is growing rapidly in the health food industry.

Soybean Derivatives Market Size

Competitive Landscape

The soybean derivatives market is highly competitive, with the presence of a large number of domestic and multinational players competing for market share. Product innovation is a major strategic approach adopted by leading players. Additionally, mergers, expansions, acquisitions, and partnerships are common strategies adopted by companies to expand their presence and boost the market. The key players in the soybean derivatives market include Cargill Incorporated, Archer Daniels Midland Company, CHS Inc., Bunge Limited, and Louis Dreyfus Company BV.

Recent Developments

  • In 2021, Bunge expanded its soy protein manufacturing plants by purchasing two soy processing plants from the local crusher Imcopa for USD 12 million.
  • In 2021, CHS expanded its soybean oil refining capacity at the Mankato plant, which may increase the production capacity by more than 35%.
  • In 2020, ADM formed a joint venture with beef producer, Marfrig. Through this collaboration, ADM aimed to supply plant-based products, including soy flour, soy protein concentrates, isolated soy proteins, textured protein, wheat protein isolates, and other products, to the North and South American markets.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Soy Oil

      2. 5.1.2 Soy Milk

      3. 5.1.3 Soy meal

      4. 5.1.4 Other Types

    2. 5.2 By Application

      1. 5.2.1 Food and Beverages

        1. 5.2.1.1 Bakery

        2. 5.2.1.2 Breakfast cereals

        3. 5.2.1.3 Pastas and Noodles

        4. 5.2.1.4 Meat and Meat Products

        5. 5.2.1.5 Beverages

        6. 5.2.1.6 Other Food and Beverages

      2. 5.2.2 Feed

      3. 5.2.3 Other Applications

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Cargill Incorporated

      2. 6.4.2 Archer Daniels Midland Company

      3. 6.4.3 CHS Inc.

      4. 6.4.4 Bunge Limited

      5. 6.4.5 Wilmar International Ltd

      6. 6.4.6 Louis Dreyfus Company BV

      7. 6.4.7 Ag Processing Inc.

      8. 6.4.8 Noble Group Ltd

      9. 6.4.9 DuPont Nutrition and Health

      10. 6.4.10 Fuji Oil Holdings Inc.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID 19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Soybean Derivatives Market market is studied from 2016 - 2027.

The Soybean Derivatives Market is growing at a CAGR of 5.76% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Archer Daniels Midland Company, Bunge Limited, CHS Inc., Cargill Incorporated, Louis Dreyfus Company BV are the major companies operating in Soybean Derivatives Market.

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