PUBLISHER: The Business Research Company | PRODUCT CODE: 1664720
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664720
Soybean derivatives encompass a range of ingredients extracted from soybeans via grinding, drying, or various processing methods. These derivatives are frequently used as dietary supplements, catering to the nutritional needs of vegans and health-conscious individuals.
Primary categories of soybean derivatives include soy oil, soy milk, soy meal, among others. Soybean oil, derived from soybeans, is recognized for its high nutritional content. Processes involved in creating lecithin encompass methods using water, acid, enzymes, and more. These derivatives are marketed through diverse channels such as departmental stores, supermarkets, online retail platforms, and others, finding applications in food and beverages, the feed industry, and various other sectors.
The soybean derivatives market research report is one of a series of new reports from The Business Research Company that provides soybean derivatives market statistics, including soybean derivatives industry global market size, regional shares, competitors with a soybean derivatives market share, detailed soybean derivatives market segments, market trends and opportunities, and any further data you may need to thrive in the soybean derivatives industry. This soybean derivatives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The soybean derivatives market size has grown strongly in recent years. It will grow from $300.12 billion in 2024 to $324.08 billion in 2025 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to agribusiness expansion, rising protein demand, health awareness, food industry applications, government support, soybean oil demand.
The soybean derivatives market size is expected to see strong growth in the next few years. It will grow to $455.81 billion in 2029 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to clean label products, plant-based meat industry, alternative uses in non-food industries, global trade, population growth, economic development. Major trends in the forecast period include innovation in product development, soy lecithin in food processing, biofuel production, investments in research and development, sustainable agriculture practices.
The growing vegan population is expected to boost the growth of the soybean derivatives market in the future. The vegan population consists of individuals who consume vegan products. Soybeans are a rich source of protein, offering high nutritional value comparable to non-vegetarian food, making soybean products a preferred choice for vegans seeking to meet their nutritional needs. For example, in April 2024, Finder, a U.S.-based personal finance comparison site, reported that approximately 2.5 million individuals in the UK are vegan, accounting for 4.7% of the population, up from 1.4 million vegans (2.5%) in 2023. This indicates an increase of 1.1 million vegans in the UK between 2023 and 2024. Therefore, the rise in the vegan population is driving the growth of the soybean derivatives market.
The increasing feed production is expected to drive the growth of the soybean derivatives market in the coming years. Feed production involves creating animal feed from raw agricultural products, with formulations designed to meet specific nutritional requirements for various animal species at different life stages. Soybean derivatives are crucial in feed production, particularly for poultry, aquaculture, farm animals, and pet food, as they provide a cost-effective source of high-quality protein. For example, in August 2024, Beef Central, an Australia-based manufacturing and supply company, reported that in the June quarter, the number of cattle on feed reached a record high of 1.418 million head, surpassing the previous record set in March by 64,000 head, or five percent. This figure also represents an increase of 162,000 head compared to the same period last year. Therefore, the growth in feed production is significantly contributing to the expansion of the soybean derivatives market.
Innovation in product offerings is a notable trend in the soybean derivatives market, with major companies focusing on introducing novel products to enhance their market standing. A case in point is Marico, an India-based company operating in the plant-based food market, which unveiled Saffola Soya Bhurji in November 2022. This innovative product represents a ready-to-cook option made from high-protein soya, presenting a healthier alternative with zero oil. The introduction of such innovative soybean derivatives aligns with the market trend towards plant-based foods and reinforces the importance of product development in sustaining a competitive position in the soybean derivatives market.
Major companies in the soybean derivatives market are making strides toward sustainability by introducing products derived from non-GMO renewable soybeans. Non-GMO renewable soybeans are those that have not undergone genetic modification and are produced using sustainable and environmentally friendly practices. This approach aligns with the growing consumer demand for sustainable and eco-friendly products. BASF SE, a prominent German chemicals company, exemplifies this trend through the launch of Plantapon Soy in March 2022. Plantapon Soy is a bio-based surfactant derived from soy protein, designed for mild rinse-off applications. As an anionic surfactant, it finds application in products such as shampoo, body wash, liquid soap, and baby cleansing products. Notably, Plantapon Soy is derived from non-GMO soybeans and coconut oil, emphasizing the use of renewable resources. This sustainable and bio-based surfactant reflects the industry's commitment to environmentally friendly solutions.
In November 2022, Cargill acquired Owensboro Grain Company, a move that facilitates the expansion of its soybean processing facility. This strategic acquisition aligns with the company's commitment to meeting the increasing demand for soybean derivatives while likely incorporating sustainable practices into its operations. Cargill, a leading US-based food corporation, also contributes to the trend of sustainability in the soybean derivatives market.
Major companies operating in the soybean derivatives market include Bunge Ltd, Archer Daniels Midland and Company, Louis Dreyfus Commodities B.V., Cargill Incorporated, Wilmar International Limited, AG Processing Inc., Cenex Harvest States Inc., DuPont Nutrition and Health, Ruchi Soya Industries Limited, Gavyadhar Organic Private Limited, Terra Firma Organic Private Limited, Ingredion Incorporated, Solbar Industries Ltd., SunOpta Inc., Scoular Company, Ceres Global Ag Corp, American Natural Processors Inc., Iowa Soybean Processors (ISP), Batory Foods, Fuerst Day Lawson Holdings Limited, Fuji Vegetable Oil Inc., Sojaprotein, Arizona Grain Inc., Jiangsu Hongda New Material Co. Ltd., Cosucra, Vippy Industries Ltd.
North America was the largest region in the soybean derivatives market in 2024. Asia-Pacific is expected to be the fastest-growing region in the soybean derivatives market during the forecast period. The regions covered in the soybean derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the soybean derivatives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The soybean derivatives market consists of sales of soy flour, soy nt and soy protein. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Soybean Derivatives Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on soybean derivatives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for soybean derivatives ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The soybean derivatives market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.