The global soybean derivatives market is growing at a CAGR of 5.76% during the forecast period (2020-2025).

  • The market is mainly driven by the rising demand for high protein food, owing to the increased consumer health consciousness. In addition, its significant impact on not only the food and beverage industry, but on other industrial applications, as well, enhances the growth rate of the market. Also, the rising economy and disposable income are other factors adding to the growth of the market.
  • Geographically, Asia-Pacific dominates the global market of soybean derivatives, followed by North America. Europe is witnessed to have the fastest growth in the market.
  • However, the few of the major challenges in this sector are the presence of a large number of competing products in the market such as tofu, textured vegetable protein (TVP), and seitan; and rising soy allergies to Lecithin.



Key Market Trends

Increased Demand for Soybean Oil

Consumer preference for healthier foods has led to the demand for soybean derivatives such as soy milk and soy oil. The soy oil segment is estimated to grow significantly in the recent years owing to the growing awareness among consumers regarding its health benefits such as reduction of obesity and blood sugar levels and its wide application in various food products such as baked goods and snacks. Also, increased imports and innovations in this sector have further fueled the market growth. For instance, ADM expanded its conventional and non-GMO soybean processing capabilities in Germany to meet the growing demand for non-GMO and high-protein soybean meal across Europe in 2017.

Asia-Pacific to be the Drive the Global Market

The global soybean derivatives market is estimated to be led by the Asia-Pacific region. The major contribution in this region is China and India as these are the major importers and consumers of soybean derivatives. According to the UN COMTRADE, India accounts for 31.3 percent of the soybean oil imports. Also, in China, the total volume of soybeans crushed in China increased from about 79.0 million tons in 2016 to about 87.0 million tons in 2017. Consequently, both soybean meal and soybean oil saw higher consumption in 2017. Soybean meal consumption in China increased by around 11% to 68.0 million tons while soybean oil consumption in China increased by 10% to around 15.9 million tons in 2017.

Competitive Landscape

The global soybean derivatives market is highly competitive in nature having a large number of domestic and multinational players competing for market share and with innovation in products being a major strategic approach adopted by leading players. Additionally, merger, expansion, acquisition, and partnership with other companies are the common strategies to enhance the company presence and boost the market. The key players in the tempeh market include Cargill, Incorporated, Archer Daniels Midland Company, CHS Inc., Bunge Limited, and Louis Dreyfus Company B.V. to name a few. For instance, in March 2019, Archer Daniels Midland Company and Cargill completed the launch of technology joint venture, Grainbridge, LLC, which is focused on farmer profitability by developing digital tools to help North American farmers consolidate information on production economics and grain marketing activities into a single digital platform, at no cost to them.

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