In the historical period assessment, the soybean by-products market was booming, and it is expected to rise at a 4.2% CAGR from 2018 to 2022. In 2023, this market value rose and saw sales of US$ 172,361.9 Million.
The soybean by-products market is witnessing significant growth as the demand for sustainable and plant-based products continues to rise. Soybeans are a versatile crop that provides numerous valuable by-products, making it an essential component of the global food and feed industries. By maximizing the utilization of soybeans and its by-products, the industry is driving sustainability, reducing waste, and creating value across various sectors.
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One of the key drivers behind the growth of the soybean by-products market is the increasing demand for plant-based protein alternatives. Soybean by-products, such as soy protein concentrate and soy protein isolate, are rich sources of high-quality protein, making them ideal for use in vegetarian and vegan food products. With the growing interest in plant-based diets, the demand for soy-based alternatives in meat substitutes, dairy alternatives, and other plant-based products is on the rise.
Soybean by-products also play a vital role in the animal feed industry. Soybean meal, a by-product obtained during the extraction of soybean oil, is a widely used protein source in animal feed formulations. It provides essential amino acids, vitamins, and minerals, contributing to the growth and overall health of livestock and poultry. As the global demand for meat and dairy products increases, the need for sustainable and nutritious animal feed ingredients like soybean by-products becomes even more critical.
In addition to food and feed applications, soybean by-products are utilized in various other industries. Soybean oil, for example, serves as a versatile ingredient in the production of biodiesel, industrial lubricants, and personal care products. The lecithin extracted from soybean oil is widely used as an emulsifier in food and beverage manufacturing, as well as in pharmaceutical and cosmetic applications. The wide range of applications for soybean by-products demonstrates their versatility and value across multiple sectors.
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The sustainable nature of soybean by-products is another significant factor driving their market growth. Soybeans are a renewable and environmentally friendly crop that requires fewer resources compared to animal-based protein sources. Utilizing soybean by-products helps reduce waste and supports a circular economy by maximizing the value of every part of the soybean. Furthermore, soybean cultivation promotes soil health and reduces the need for synthetic fertilizers, making it a sustainable choice for farmers and the planet.
As the demand for sustainable and plant-based solutions continues to grow, the soybean by-products market is poised for further expansion. By maximizing the value and sustainability of soybeans, the industry is contributing to a more environmentally conscious and resource-efficient future. The versatility, nutritional benefits, and sustainable nature of soybean by-products make them an indispensable part of the global food, feed, and industrial sectors.
Companies Covered in This Report –
- Cargill, Incorporated
- Archer Daniels Midland
- Adani Wilmar
- Ruchi Soya Industries Limited
- Bunge Limited
- Yee Lee Corporation Bhd
- Ragasa
- DuPont de Nemours, Inc.
- Ag Processing Inc
- Owensboro Grain Company
- CHS Inc.
- Gujrat Ambuja Exports Limited
- AAK Limited
- Adams Group
- Sonic Biochem
- Group Vandamme
- Amaggi
- Oleo-Fats, Incorporated
- GIIAVA
- Thai Vegetable Oil PCL
- Others ( on Additional Request)
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Soybean by-products Industry Research by Category
By Nature:
- Organic
- Conventional
By Type:
- Soybean Oil
- Oilcake
- Lecithin
By End Use:
- Food Processing Industry
- Foodservice Industry
- Animal Feed
- Retail/Household
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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