The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Soybean Derivatives Global Market Report 2024, the soybean derivatives market is expected to show significant growth in the forecast period.

Market Expansion Overview

• Strong growth from $277.93 billion in 2023 to $300.12 billion in 2024.
• Compound Annual Growth Rate (CAGR) of 8.0%.
• Expected to reach $417.37 billion by 2028, growing at a CAGR of 8.6%.

Driving Factors Behind Market Surge

Vegan Population’s Influence on Demand

• Increasing preference for soybean products among vegans.
• Soybean’s nutritional value and protein content cater to vegan dietary needs.
• Global vegan food market reached $15.77 billion in 2021.

Product Innovations Shape Market Landscape

• Key players introduce innovative soybean-based products.
• Marico’s launch of Saffola Soya Bhurji expands plant-based food portfolio.
• Trend towards healthier, ready-to-cook options with zero oil.

View More On The Soybean Derivatives Market Report 2024 – https://www.thebusinessresearchcompany.com/report/soybean-derivatives-global-market-report

Industry Dynamics

Cargill’s Strategic Expansion

• Acquisition of Owensboro Grain Company to expand soybean processing facility.
• Reflects Cargill’s commitment to meet growing demand in the market.

Market Segmentation

Diverse Types, Lecithin Varieties, Sales Channels, and Applications

• Segmented by Soy Oil, Soy Milk, Soy Meal, and Other Types.
• Lecithin options include Water, Acid, and Enzyme-based.
• Sales channels span Departmental Stores, Supermarkets, Online Retail, and more.
• Applications range from Food and Beverages to Feed Industry and beyond.

Regional Insights

North America Leads, Asia-Pacific Grows Fastest

• North America dominates the market in 2023.
• Asia-Pacific poised for rapid growth during the forecast period.

Conclusion

The soybean derivatives market is witnessing robust growth, driven by factors such as the rising demand among vegans and continuous product innovations. Key players are expanding their portfolios and facilities to meet the increasing market demand. As consumer preferences shift towards healthier and sustainable options, soybean derivatives play a vital role in meeting these demands. With regions like Asia-Pacific emerging as significant players, the future of the soybean derivatives market promises continued expansion and innovation.

Request A Sample Of The Global Soybean Derivatives Market Report 2024:

https://www.thebusinessresearchcompany.com/sample_request?id=9124&type=smp

The Soybean Derivatives Global Market Report 2024  provides an in-depth analysis on the soybean derivatives market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the soybean derivatives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Wheat Protein Global Market Report 2024

Soy Protein Global Market Report 2024

Protein Purification And Isolation Global Market Report 2024

Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: