LONDON, Oct. 28, 2015 /PRNewswire/ -- The market for soybean derivatives has made a noteworthy impact on the food & beverage industry and on other industries as well. The soybean crop is processed into soy meal and vegetable oil, and almost all of that meal is used in animal feed. Steady demand for soybean derivatives also confirms sustained need for food-grade soybeans, including specialty varieties, organic, non-GMO, and IP beans.
Leading companies in the soybean derivatives market are continuously developing technologies and new products with high proficiency. Thus, the soybean derivatives market is gaining global acceptance among manufacturers/producers. The leading players in this market are Bunge Ltd (U.S.), Archer Daniels Midland Company (U.S.), Louis Dreyfus Commodities (The Netherlands), Cargill, Incorporated (U.S.), and Wilmar International Limited (Singapore). These players are adopting different strategies to develop in the soybean derivatives market. Joint ventures, facility expansions, and acquisitions have been the key moves undertaken by them.
The soybean derivatives market is segmented on the basis of its applications into feed, food, and others (biodiesel, soy-based wood adhesives, soy ink, soy crayons, soy-based lubricants). It is also segmented on the basis of lecithin processing into water, acid, and enzyme. By type, the market is segmented into soybean, soy meal, and soy oil. Soy meal is further segmented into soy milk and soy protein concentrate. Likewise, soy oil is further segmented into soy lecithin. The soy meal segment was the largest in 2014, and is projected to grow as a result of the increasing demand from the food and other functional industries.
The market for soybean derivatives is estimated to be worth $176,921.05 million in 2015, and is projected to reach $254,913.10 million by 2020, at a CAGR of 7.6%. In 2015, the Asia-Pacific region is estimated to be the largest market and is projected to grow to $125,854.43 million by 2020, at a CAGR of 7.8%, as studied from 2015. North America is the second-largest market and is projected to grow at a CAGR of 9.2% during the period under review.
Download the full report: https://www.reportbuyer.com/product/3009319/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers