WASHINGTON, Feb. 03, 2022 (GLOBE NEWSWIRE) — The Global Soybean Derivatives Market size is expected to reach over USD 236.9 Billion by 2028, exhibiting a CAGR of 6.3% during the forecast period.
Increasing protein consumption along with availability of cheap source of rich quality protein, rising levels of investment for oilseed crushing ability expansion, increasing preferences towards processed food will likely to improve the of the soybean derivatives market growth in the forecast period, states Vantage Market Research, in a report, titled “Soybean Derivatives Market by Type (Soybean Oil, Soy Flour, Soy Nuts, Others), by Application (Food Industry, Feed Industry, Biodiesel, Others), by Region (North America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.
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List of Prominent Players in the Soybean Derivatives Market:
- Archer Daniels Midland Company (U.S.)
- Bunge Ltd (U.S.)
- Cargill, Incorporated (U.S.)
- Louis Dreyfus Commodities (The Netherlands)
- Wilmar International Limited (Singapore)
Driver: Growing Use in Food Industry
A significant increase in public awareness with respect to vast health perks of soybean has made soybean one of the commonly used oilseeds in food and beverages sector in the past few years. Soybean derivatives are used in an array of applications across various industries such as automotive of late and animal feed, the food industry still being the leading consumer.
In the food sector, soybean derivatives are used in products such as snacks, breads, spreads, sauces, mayonnaise, baked products. Residual fibers which are produced after the extraction of oil are used in the production of food for bovine, swine, aquaculture, and domestic pets. They are also used to manufacture hydraulic fluids and lubricants; production of bio-diesel is also getting attention across the globe.
Restraint: Easy Accessibility of Substitutes
However, market’s growth prospects are likely to be hampered owing to the availability of substitutes such as wood pulp and bagasse, especially in industrial applications for instance, the production of bio-plastic and biogas. Nevertheless, expanded attempts by companies to enhance soybean derivatives efficiency is likely to drive the substitute threat to market’s growth.
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Asia Pacific emerged as the significant contributor of the global market revenue and is likely to remain strong during the forecast period. Suitable growth prospects of the beverages and food sector in most of the developing and developed nations in Asia Pacific, owing chiefly to the increasing domestic consumption, are likely to boost the demand overall for soybean derivatives in the next few years in the region as well.
North America market is likely to follow the same trend in the next few years. MEA nations are also anticipated to lead to a substantial increase in soybean derivatives demand over the forecast period.
Owing to the immense growth opportunities for the soybean derivatives market in regions such as Asia Pacific and Middle East, a large number of companies are foraying entering into the market. Owing to this, the competition in the market is expected to significantly intensify in the near future.
- March, 2019: Cargill Inc. and ADM launched Grainbridge, LLC. They will manufacture digital tools for farmers in North America to consolidate data on the economy of grain marketing activities and production for free on a single platform.
- 2017: ADM expanded GMO-free soybean processing capabilities in Germany to fulfil rising demand for GMO-free soybean meals across Europe.
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The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Soybean Derivatives Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
Browse market data Tables and Figures spread through 185 Pages and in-depth TOC on “Soybean Derivatives Market by Type (Soybean Oil, Soy Flour, Soy Nuts, Others), by Application (Food Industry, Feed Industry, Biodiesel, Others), by Region (North America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/soybean-derivatives-market-826700
The report on Soybean Derivatives Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Soybean Derivatives Market?
- How will the Soybean Derivatives Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Soybean Derivatives Market?
- What is the Soybean Derivatives market drivers and restrictions?
- What will be the CAGR and size of the Soybean Derivatives Market throughout the forecast period?
This market titled “Soybean Derivatives Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
|Market Size in 2021||USD 162.2 Billion|
|Projected Market Size in 2028||USD 236.9 Billion|
|CAGR Growth Rate||CAGR of 6.3% from 2022–2028|
|Historic Years||2016 – 2020|
|Forecast Years||2022 – 2028|
|Segments Covered||Type: – Soybean Oil, Soy Flour, Soy Nuts
Application: – Food Industry, Feed Industry, Biodiesel
|Quantitative Data – Units||Revenue in USD Million/Billion and CAGR from 2022 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
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