soy derivatives application market, Size, Business Opportunities and Industry Forecast to 2027
Features
like its functional benefits, high protein content, and others are expected to
provide the soy derivatives application market strong ground. The increasing risk of
obesity is also making a large number of people adopt soy derivatives. It has
evolved well as an alternative of meat, which makes it popular among vegans and
vegetarians. The animal feed industry is also gaining traction from the soy
derivatives application market. But the ethical and legal concern related to
genetic modification of soybean can be taken as a market deterrent.
Key
Players
Companies
are taking much initiatives in taking the global soy derivatives application
market forward. These companies are implementing various market strategies like
merger, acquisition, collaboration, and others to gain grounds in the global soy
derivatives application market. These companies are Ruchi Soya Industries Ltd
(India), Cargill Inc. (US), CHS Inc. (US), Noble Group Ltd (Hong Kong), Dupont
Nutrition and Health (US), Archer Daniels Midland Company (US), Wilmar
International Ltd (Singapore), Louis Dreyfus Company BV (Netherlands), Bunge
Ltd (US), and AG Processing Inc. (US). MRFR profiled them for a better understanding
of trends that can inspire market movement in the coming years.
Market Segmentation:
The global soy derivatives application market, as
per the analysis of MRFR, can be segmented on the basis of type, category, and
application. Such a segmentation focuses mostly on various factors that can
inspire the recent market growth.
By type, the soybean derivatives market can be
segmented into soy meal, soy oil, soy lecithin, soy protein, soy milk, and
others. The soy protein segment includes soy protein isolates, soy flour, and
soy protein concentrates.
Based on the category, the global market can be
segmented as conventional and organic. The organic segment is gaining grounds
owing to strong traction provided by recently growing health consciousness.
Based on the application, the global soy
derivatives application market can be segmented into personal care,
pharmaceuticals & nutraceuticals, food & beverage, animal feed, and
others. The food & beverage segment includes bakery and confectionery,
beverages, RTE & RTC food, and others.
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Regional Analysis
North America, South America, Europe, Asia Pacific (APAC),
and the Middle East & Africa (MEA) are regions that have been included in
the global study of the soy derivatives application market. This
region-specific analysis can gain significant traction owing to its focus on
demographic challenges that can provide better analytical report to bolster
future market plans.
North America & Europe are quite aggressive in
their production of soy derivatives owing to the growing number of vegans in
the region. Superior farming technology and better data regarding the soy
derivatives are expected to promote the market in these regional spheres. At
the same time, several other countries are expected to launch their own
strategies to cement their market growth and intensify production rate to
maintain the growth rate of the market. The US, Canada, and others are
significant contributors from these two regions.
The APAC market is expecting strong growth in the
coming years owing to the demand generated by countries like China and India
where a huge population is now leaning towards soy beans for production of
various derivatives. These countries are expected to promote the market in the
coming years. In South America, Brazil is expected to make strong grounds for
itself.
NOTE: Our Team of Researchers
are Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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