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Soy Derivatives Market: Segmented by Type (Soybean, Soy meal and Soy oil); By Application (Feed, Food and Other); and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] Soy Derivatives Market to surpass USD 394.73 billion by 2030 from USD 194.95 billion in 2020 at a CAGR of 8.7 % in the coming years, i.e., 2021-30.
The soybean crop is undeniably important on a global scale, both economically and socially. Soybean is an oilseed that contains a variety of nutrients such as protein, carbohydrates, vitamins, and minerals. Soybean derivatives are derived from the extraction of soybean seeds and other byproducts. Soybean is a widely used oilseed that accounts for more than half of the world's supply of oilseeds and is a major source of oil. For vegetarians and vegans, soybean derivatives are the safest dietary supplements and foods. Protein, nutrition, healthy fats, and a variety of other ingredients abound in soybean derivatives. Because of the rising prevalence of animal diseases, farmers are becoming more aware of the animal feed they use, resulting in a high demand for protein-rich soy derivative products in the feed industry.
Global Soy Derivatives market is expected to project a notable CAGR of 8.7% in 2030.
Baked goods, sauces, bread, mayonnaise, and potato chips are all made with soy derivatives. The leftover fibers from soybean oil extraction are roasted and used as feed for farms, cattle, pigs, and pets. During the forecast era, the growth of the animal feed industry is expected to stimulate business growth as meat production and demand for animal protein products rise.
Soy oil segment to grow with the highest CAGR during 2020-30
Global Soy Derivatives market is segmented by type into Soybean, Soy meal, and Soy oil. Soy oil segment held the largest market share in the year 2020 owing to consumer awareness of its health benefits, such as the reduction of obesity and blood sugar levels, and its widespread use in various food items, such as baked goods and snacks. Additionally, increased imports and developments in this field have fuelled market expansion.
Food segment to grow with the highest CAGR during 2020-30
Global Soy Derivatives market is divided by raw material into Feed, Food and Other. Over the forecast period, the food segment is projected to expand at the fastest pace. The segment is expected to grow as a result of increased protein consumption and the easy availability of low-cost, high-quality protein, an increase in the number of people who prefer processed foods, and increased investment in expanding oilseed crushing capacity. During the forecast period, the segment is expected to rise due to rising demand for lecithin and growing applications of soy food in developing economies.
High Usage in the Food and Beverages Industry
Because of rising protein intake, the global soybean derivatives market is fueled by the widespread use of soybean derivatives in the food and beverage industry. Salad dressings, baked goods, sauces, breads, mayonnaise, and potato chips are all made of soybean derivatives. Over the forecast period, the growth of the food and beverage industries in China, India, and the Middle East is expected to benefit the sector. The residual fiber from the extraction of soybean oil is toasted and used to make feed for aquaculture, cattle, swine, and pets. Over the forecast period, consumer demand is expected to be fueled by increased meat production and rising demand for animal protein products in the animal feed industry.
Demand for Naturally Derived Goods and Environmental Concern
Additionally, paints, coatings, bioplastics, and biodiesels are all made with soybean derivatives. The demand for naturally derived goods has grown as environmental concern about reducing GHG emissions has grown. The European Commission and the Environmental Protection Agency (EPA) have drafted a slew of regulations aimed at encouraging biodiesel use and development. Over the forecast period, this trend is expected to boost market demand as a raw material for biodiesel production.
Allergies Related to Soy and Legal Questions About Its Use
The rising prevalence of soy lecithin allergies is expected to limit market growth to some degree. Furthermore, ethical and legal questions about the use of genetically modified soybeans and derivatives are impeding market development.
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Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Soy Derivatives market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Soy Derivatives in APAC held the largest market share in the year 2020 because of the rising demand for soybean derivatives and the growing use of soybean products in the area. North America, on the other hand, is expected to outperform all other regions by clocking the highest CAGR from 2020 to 2030, owing to abundant soy crops and rising demand for soybean derivatives from the food and beverage industry in the area.
Global Soy Derivatives Market is further segmented by region into:
Soy Derivatives Market Segments:
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