Glycine Soja (Soybean) Seed Extract Market

Market Study on glycine soja (soybean) seed extract: With Several Innovation in Product Formulations, PMR Foresees Various Opportunities for glycine soja (soybean) seed extract Manufacturers on the Horizon

A Detailed Analysis of the glycine soja (soybean) seed extract Market Based on Growing Demand from Cosmetics Industry, Newer Product Launches, and Rising Boom Around Natural Ingredients

Report ID: PMRREP33724

Number of Pages: 158

Format: PPT*, PDF, EXCEL

Industry: Food and Beverages

Published Date: January-2024

Report Price

$4900*

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Glycine Soja (Soybean) Seed Extract Market

The global glycine soja (soybean) seed extract market is forecast to expand at a CAGR of 7.3% and thereby increase from a value of US$2.4 Bn in 2023, to US$4 Bn by the end of 2030.

Attributes

Key Insights

glycine soja (soybean) seed extract Market Size (2023E)

US$2.4 Bn

Projected Market Value (2030F)

US$4.0 Bn

Global Market Growth Rate (CAGR 2023 to 2030)

7.3%

Historical Market Growth Rate (CAGR 2018 to 2022)

6.7%

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Market Introduction and Definition

The cosmetics industry keeps expanding its products, from color cosmetics to hair care and skincare. The industry is growing because of the adaptability of glycine soja (soybean) seed extract used in various cosmetic compositions. The cosmetics industry continues to prioritize innovation in skincare products. Because of its anti-aging and moisturizing qualities, glycine soja (soybean) seed extract is useful for formulators looking for creative ways to address various skin issues. Demand for cosmetic items has surged due to consumers placing an increasing significance on appearance. The potential for glycine soja (soybean) seed extract to improve skin health addresses consumers' need for skincare products that are both functional and aesthetically pleasant.

The rising disposable expenditure in emerging nations is driving up the cost of cosmetics. Formulators can profit from this trend by adding glycine soja (soybean) seed extract to products aimed at consumers in these developing nations. Personalization and customization are the prevailing trends in the cosmetics sector, leading to the customization of beauty products. Glycine soja (soybean) seed extract adds to the custom beauty product trend by being incorporated into formulations that address certain skincare requirements. The creation of complex formulas is made possible by advancements in cosmetic technology. The industry's capacity to develop innovative products is aided by glycine soja (soybean) seed extract's compatibility with various technologies and other cosmetic ingredients.

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Market Growth Drivers

Increasing Need for Natural Ingredients

Natural and plant-based components are becoming increasingly popular in skincare and cosmetic formulations as modern customers become more aware of the goods they use. Consumers' desire for natural solutions is met by glycine soja (soybean) seed extract, which is generated from soybeans. It is now clearer how skincare affects general health and well-being. People are looking for goods that improve their looks and their health at the same time. With its natural and holistic qualities, glycine soja (soybean) seed extract fits perfectly with this trend.

Anti-aging qualities are among the well-known skincare advantages of glycine soja (soybean) seed extract. Soybean extract is in high demand as the world's population ages, and there is a growing need for skincare products that provide efficient and natural ways to retain youthful skin. In addition, consumers are becoming increasingly conscious of the ecological effects of their purchases as environmental issues gain greater attention.

Because it is a biodegradable and renewable resource, glycine soja (soybean) seed extract appeals to customers who care about the environment and support sustainability initiatives. The clean beauty movement emphasizes using products with clear and uncomplicated ingredient lists. Because consumers are looking for skincare and cosmetic products with fewer artificial ingredients, glycine soja (soybean) seed extract is a good fit for the clean beauty narrative and is driving market expansion.

Market Research Methodology

Market Research Methodology

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Market Restraints

Limited Technology for Extraction

Extracting the appropriate components from glycine soja (soybean) seed extract can be multi-step and intricate. Scalability of production is impacted by the extraction process's complexity, making it difficult to produce consistent and high-quality extracts. As a result of the limitations of extraction technology, production costs could be higher. High operating costs may result from the process's complexity, specialized tools, and knowledge requirements.

The entire competitiveness of glycine soja (soybean) seed extract in the market is impacted by this cost issue. Variations in the quality of glycine soja (soybean) seed extract can result from inconsistent extraction procedures. It can be difficult for manufacturers to achieve quality standards and could affect the ingredient's dependability if consistent quality cannot be maintained between batches.

Soybean Price Fluctuations

Changes in soybean prices directly impact the cost of inputs used in manufacturing glycine soybean (soybean) seed extract. Unpredictable and sudden variations in soybean prices might raise the cost of production and reduce firms' overall profitability. The market for glycine soja (soybean) seed extract may experience pressure on profit margins due to fluctuations in soybean prices. Manufacturers may find it difficult to keep their product costs competitive when soybean prices rise, which could restrict market expansion.

Opportunities

Innovation in Product Formulations

Innovative formulations are made possible by the compatibility of glycine soja (soybean) seed extract with various skincare products. It can be added to serums, lotions, creams, and masks, giving customers a variety of alternatives and promoting the creation of original skincare products. glycine soja (soybean) seed extract is a desirable ingredient in formulations for older skin because of its anti-aging qualities.

Innovative anti-aging treatments, such as creams and serums, use the Extract's benefits to treat wrinkles, fine lines, and other aging symptoms. The moisturizing qualities of glycine soja (soybean) seed extract create hydrating products. The Extract is frequently included in moisturizers, offering a healthy way to hydrate skin, and helping to create cutting-edge hydrating formulas.

Moreover, glycine soja (soybean) seed extract is in line with the growing trend of consumers turning to natural and clean beauty products. Because of its natural nature, formulators can make products with shorter ingredient lists, which appeals to consumers looking for clean cosmetic solutions. glycine soja (soybean) seed extract can be used in hair care formulations to help create novel shampoos, conditioners, and hair treatments. Its beneficial effects on the scalp and hair give hair care products a distinctive selling value.

Analyst’s Viewpoint

The glycine soja (soybean) seed extract market will grow significantly in the future due to rising consumer knowledge of its numerous skincare benefits. Soybean seed extract is anticipated to continuously increase in use in the personal care and cosmetics sectors due to the growing demand for sustainable and natural ingredients. The extract is a sought-after component for moisturizing and anti-aging products due to its rich content of vitamins, amino acids, and antioxidants. Additionally, the growing popularity of plant-based products complements the environmentally favorable qualities of soybean seed extract, which is driving market expansion.

The Asia Pacific area is expected to become a major player in the market, driven by the booming skincare and cosmetics sector. It is anticipated that partnerships between producers of soybeans and cosmetic companies will promote product development and innovation. The raw material supply chain disruptions and regulatory considerations could hinder growth despite the favorable market outlook. There will probably be opportunities for market growth due to continued research into new extraction methods and applications. Given customer preferences for natural, eco-friendly, and efficacious skincare products in the future, the glycine soja (soybean) seed extract market is expected to rise steadily in the coming years.

Supply-side Dynamics

Brazil is the greatest producer of soybeans in the world, and the country also boasts a booming sector for extracting different components from soy seeds. Businesses such as ADM and Bunge have invested in processing facilities and ship many soy extracts overseas. The US has a thriving soy extract business and is the second-largest producer of soybeans. Prominent corporations like Cargill, Dupont, and Archer Daniels Midland (ADM) manufacture a variety of soy-based extracts that are utilized in food, cosmetics, and nutraceuticals.

China has a sizable local market for soy extracts despite trailing behind other countries in soybean output. To meet the enormous domestic demand, businesses like JF Natural Ingredients, and Wanrun Bio-Technology Co., Ltd. are progressively exporting soy extracts to other Asian nations. Notable European producers of soy extracts, Germany and France, focus on premium ingredients for the food and cosmetics industry. Well-known participants in this market include Grau Aromatics GmbH & Co. KG, and Symrise AG.

China is the largest consumer by far because soy has been used in food and traditional medicine for a long time. Tofu, soy sauce, fermented foods, and the increasingly well-liked nutraceuticals and cosmetic supplements all contain soy extracts. The US is a major consumer of soy extracts, using them in nutritional supplements, bakery goods, and food additives like lecithin. The market for beauty products made from soy is also expanding there. Germany, and France are the top two consumers, especially regarding premium foods like candy and sausages. The European food industry likewise makes extensive use of soy lecithin.

Market Segmentation

Which is the Primary Application Category?

Skin Care Remains the Most Significant Application Area

The application segment is segmented into skin care, hair care, makeup, bath and body care, food, and medicines. Skin care represents the most sizable glycine soja (soybean) seed extract market segment. Because it is moisturizing, glycine soja (soybean) seed extract is useful in moisturizers. It keeps and replenishes moisture, leaving skin supple and soft. Nonetheless, the hair care segment of the glycine soja (soybean) seed extract market is expanding at the quickest rate. Glycine soja (soybean) seed extract is a component of hair serums that reduces frizz and split ends and promotes healthy hair overall. Its moisturizing and smoothing properties add to a polished, streamlined look.

What is the Preferred Form of the Extract?

Sales of Liquid Form of the Extract Dominant

The form segment is bifurcated into liquid and semi-liquid. The liquid market segment is the largest for glycine soja (soybean) seed extract. Formulations in liquid form are frequently made to be readily absorbed by the skin or hair. This characteristic improves the absorption of glycine soja (soybean) seed extract, guaranteeing the efficient delivery of its advantageous constituents to the targeted regions. Nevertheless, the market segment exhibiting the most rapid growth is semi-liquid. Glycine soja (soybean) seed extract semi-liquid forms offer a well-balanced viscosity that makes them simple to work with in formulas like creams, gels, and masks. Its consistency makes blending with additional substances easy and uniform.

What Source is Favored Among End Users?

Natural Prominent While Synthetic Picks Pace

The source segment is sub-segmented into natural and synthetic. Natural represents the greatest glycine soja (soybean) seed extract industry market segment. Many consumers need to avoid products that include artificial chemicals and additives. In response to consumer desire for formulations free of undesirable synthetic components, glycine soja (soybean) seed extract provides an alternative as a natural ingredient. On the contrary, synthetic is the market segment characterized by the most rapid growth. This is due to guarantee purity and safety requirements; synthetic sources can be managed. Meeting customer expectations that emphasize safety in cosmetic and personal care goods and regulatory compliance may depend on this.

Which is the Predominant End-use Industry?

The Cosmetic and Personal Care Industry Leads, Specialty Skincare Products Drive Growth

The end-use industry segment is categorized into the cosmetic and personal care industry, pharmaceutical industry, food and beverage industry, and others. The cosmetic and personal care industry occupies the highest market share. The regenerative and skin-soothing qualities of the Extract might be useful in formulas intended to promote skin healing and lessen the visibility of scars.

The anti-inflammatory qualities of glycine soja (soybean) seed extract could be used in products meant to relieve irritation and treat acne-prone skin. In contrast, the food and beverage industry market segment is expanding at the quickest rate. A source of protein and an addition to the nutritional value of bread, cakes, and other baked goods, soy flour and soy protein concentrates are utilized in their manufacture.

Top Regional Markets

North America’s Soaring Interest in Multifunctional Skincare Products to Drive its Prime Position

North American consumers are increasingly interested in skincare products that offer several advantages in a single application. With its many skincare benefits, glycine soja (soybean) seed extract facilitates the creation of products that effectively address a range of skin issues, simplifying beauty regimens. Time-saving beauty solutions are in high demand due to North America's fast-paced lifestyle. Glycine soja (soybean) seed extract- Multifunctional skincare solutions multifunctional solutions provide consumers with a handy way to accomplish numerous skincare goals without using several products. glycine soja (soybean) seed extract's adaptability supports several skincare advantages, such as skin nutrition, anti-aging, and moisturization. These characteristics allow formulators to design products that address many skin issues in a single formulation.

Growing Preference for Conventional and Herbal Ingredients to Benefit Asia Pacific

The use of natural products for cosmetics and well-being has a long history in many Asia Pacific countries. glycine soja (soybean) seed extract is a natural product that fits well with the culture's inclination towards herbal medicines and natural ingredients. Natural components are prized for their skincare advantages in Asia Pacific civilizations, which have a strong history of using herbal beauty remedies. Glycine soja (soybean) seed extract fits in naturally with formulations that appeal to the customary beauty standards of the area. The use of natural components for holistic well-being is emphasized in traditional Asian medicine in East Asia and Ayurveda in South Asia. These factors make glycine soja (soybean) seed extract compatible, which helps explain its popularity in skincare and makeup formulas.

Competitive Intelligence and Business Strategy

Prominent organizations, including Grau Aromatics, and Symrise. are at the vanguard of this sector; Grau Aromatics targets consumers looking for sustainable and ethically sourced extracts by emphasizing natural and organic ingredients. This corresponds with the increasing inclination of consumers towards clean-label products. Grau Aromatics is a highly skilled company that has been extracting and processing different plant-based resources, including soybeans, for over 80 years. The company has a specialized production facility. Production efficiency and quality control are thus guaranteed. They provide a wide variety of extracts from soybean seeds that are suitable for use in food, cosmetics, and nutraceuticals. This enables them to meet certain clients' wants and profit from various market niches.

With production facilities and sales offices spread over more than 100 countries, Symrise is a proud member of a wide global network. Due to this, they can adjust their product offers to suit local tastes and meet various regional demands. Symrise heavily invests in R&D, hiring more than 800 experts to investigate novel uses and features for natural substances such as extracts from soybean seeds. They stay ahead of market trends and can continue developing unique products. Sustainable sourcing and processing are given top priority by Symrise across its whole supply chain. This is in line with the increasing demand from consumers for foods that are supplied ethically and sustainably.

Key Recent Developments

New Product Launch

Global Essence introduced a new range of organic soybean seed extracts for the European nutraceutical industry in September 2023. With an emphasis on clean label trends and sustainability, Global Essence's new extracts meet the growing need for natural and potent components in nutraceutical goods.

Market Impact: Introducing Global Essence may increase awareness of organic soybean seed extracts as a safe and useful product in the European nutraceutical sector. This may draw in potential customers looking for clean-label and sustainable products. The nutraceutical industry may see increased market share and other benefits from introducing new, premium ingredients such as these extracts, which can stimulate product development and innovation.

Symrise AG, and JF Natural Ingredients will collaborate in July 2023 to increase the availability of soybean seed extract in Asian markets. With this partnership, Symrise's leading position in natural plant extracts and JF's proficiency in flavor and fragrance will be combined to offer a greater selection of premium soybean seed extract products for the Asian market.

Market Impact: Reach and customer base can be greatly increased by combining Symrise's worldwide reach and experience with JF's robust domestic presence and understanding of the Asian market. For both businesses, this may result in a higher market share. The partnership's combined resources and expertise enable it to provide a greater range of superior, cutting-edge soybean seed extract solutions that meet the various demands of the Asian market. This can draw in new clients and satisfy certain needs for beneficial additives.

Glycine Soja (Soybean) Seed Extract Market Report Scope

Attribute

Details

Forecast Period

2023 to 2030

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • The Middle East & Africa  

Key Countries Covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa  

Key Market Segments Covered

  • Application
  • Form
  • Source
  • End Use Industry
  • Region

Key Companies Profiled

  • Grau Aromatics
  • Symrise
  • Bellatorra Skin Care LLC
  • Natural Solution
  • The Organic Pharmacy Ltd
  • Lucas Meyer Cosmetics
  • JF Natural
  • Durae Corporation
  • Carrubba
  • Others

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives  

Customization & Pricing

Available upon request

Glycine Soja (Soybean) Seed Extract Market Research Segmentation

By Application:

  • Skin Care

  • Hair Care

  • Makeup

  • Bath and Body Care

  • Food

  • Medicines

By Form:

  • Liquid

  • Semi-liquid

By Source:

  • Natural

  • Synthetic

By End Use Industry:

  • Cosmetic and Personal Care Industry    

  • Pharmaceutical Industry

  • Food and Beverage Industry     

  • Others

By Region:

  • North America

  • Europe

  • East Asia

  • South Asia & Oceania

  • Latin America

  • Middle East & Africa

For report customisation and delivery information contact our sales representative.

Companies Covered in This Report

  • Grau Aromatics

  • Symrise

  • Bellatorra Skin Care LLC

  • Natural Solution

  • The Organic Pharmacy Ltd

  • Lucas Meyer Cosmetics

  • JF Natural

  • Durae Corporation

  • Carrubba

Frequently Asked Questions

The market is anticipated to grow at a CAGR of 7.3% during the projected period.

The glycine soja (soybean) seed extract market was valued at US$2.4 billion in 2023.

The US held the largest market share in 2023.

Some of the prominent players in the market are Grau Aromatics, Symrise, Bellatorra Skin Care LLC, Natural Solution, The Organic Pharmacy Ltd, Lucas Meyer Cosmetics, JF Natural, Durae Corporation, and Carrubba.

The hair care segment is expected to grow at the fastest CAGR during the forecast period.

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