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The increasing demand for plant-based protein sources is expected to drive market growth, as soybeans are a rich source of protein.

HYDERABAD, TELANGANA, INDIA, January 20, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that the Soybean Derivatives Market size is estimated to reach $ 323.4 Billion by 2027. Furthermore, it is poised to grow at a CAGR of 6.7% over the forecast period of 2022-2027. Soybean has been a prime legume, and often grown in rotation with corn as both the crops have the same acreage. Additionally, yield grows multitudes if grown in reputation. The phytic acid content in soybean ranges from 1-1.47%, which represents around 51% as total phosphorus in seeds. Soybean has been prevalently used as a steroid hormone owing to soybean phytosterols. Genetically modified proteins or glyphosate-tolerant soybean have been actively used by farmers. Soybean has been extensively used in biodiesels as growing concern owing to climate changes. Chelating agent on soybean composition has been widely used which acts a prevalent factor. Also, fat-free soybean meal is a cheap source of protein for animal nutrition and for the packaged meals.

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Key takeaways:

This IndustryARC report on the Soybean Derivatives Market highlights the following areas -

1. Geographically, North America’s soybean derivatives market held a dominant market share in the year 2021. It is owing to the presence of major portion of land for producing soybean, and USA ranks second in terms of exports for soybean to the entire world. Additionally, the demand for soybean has been rising in the sates and others’ owing to an increasing proportion of population preferring vegan diets. However, Asia-Pacific is expected to offer lucrative growth opportunities to the marketers in the projected period of 2022-2027. It is owing to a vast proportion of demand being seen in China and India, with former being the lead importer of the said commodity.

2. The growing use of soybean derivatives as a biodiesel owing to sustainable energy trends along with the rampant increase in the vegan population demanding soy products due to high protein value have been the key drivers for the market. However, a close tie with other vegan products offering the same notch functional values have impeded the market growth.

3. A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Soybean Derivatives Market Report.

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Segmental Analysis:

Soybean Derivatives Market Segmentation Analysis- By Type : The soybean derivatives market based on type can be further segmented into Soybean Oil, Soy Flour, Soy Nuts, Soy Meals, Soy Protein, Soy Milk, and Others.

Soybean Derivatives Market Segmentation Analysis- By Application : The soybean derivatives market based on application can be further segmented into Food Industry, Feed Industry, Biodiesel, and Others. Feed Industry held a dominant market share in the year 2021.

Soybean Derivatives Market Segmentation Analysis- By Geography : The soybean derivatives market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World.

Competitive Landscape:

The top 5 players in the Soybean Derivatives Industry are -

1. Bunge Limited,
2. CHS Inc,
3. Ruchi Soya Industries Limited,
4. AG Processing Inc,
5. DuPont Nutrition and Health,

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