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Soybean By-products Market Segmented By Organic and Conventional Nature with Soybean Oil, Oilcake, Lecithin Type - Demand for Plant-based Proteins is Increasing Due to Growing Popularity of Soybean by-Product Products.
The global soybean by-products market was bustling with growth in the historical period assessment and growing at a rate of 4.2% between 2018 and 2022. This market value increased and registered sales of US$ 172,361.9 Mn in the year 2023.
| Attributes | Key Insights |
|---|---|
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Soybean By-Products Market Size (2023E) |
US$ 172,361.9 Mn |
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Projected Sales of Soybean By-Products (2033F) |
US$ 317,112.4 Mn |
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Value CAGR (2023-2033) |
6.3% |
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Value Share of Top 4 Countries (2022 A) |
~25% |
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The global soybean by-products market has witnessed significant growth in the historical period registering a CAGR of 4.2% and it was valued at US$ 172,361.9 Mn in 2023. Factors contributing to this market’s growth are the increasing demand for plant-based proteins and the growing popularity of soybean by-product products.
Soybean by-products have various functional and nutritional properties, making them potent food ingredients for compounded foods. Major demanding regions of soybean by-products are Europe and East Asia. These regions are expected to be demand accelerators for the growth of the market, owing to the fact that they enjoy the dominance in the animal feed industry.
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Get a Customized Version“Consumer Inclination toward Plant-based Food Products Contribute to Soybean By-Product Sales”
Soybean by-products are gaining popularity among consumers due to increasing awareness about the health benefits associated with the consumption of plant-based food products. Recently, there has been significant growth in the fitness and nutrition industries, which has further increased dependence on plant-based sources for the nutritional requirements of consumers.
Many consumers are inclined toward plant-based edibles and are choosing healthier alternatives to conventional dairy, eggs, and meat products. The rise of the plant-based edibles market has been ensured by a stream of innovations in flavors, forms, and ingredients, as well as good nutrition.
Furthermore, the fact that soybean is preferred as a great source of plant-based nutrition and its by-products such as milk, meat, frozen meals, etc., is a lucrative market growth opportunity. Growing awareness about the negative impact of animal-based products on the environment as well as animal cruelty is leading customers to look for plant-based options.
“Soy Lecithin Use Increasing in Food Industry Bringing Growth Opportunities”
Soy lecithin is used as a food additive; it not only acts as an emulsifier or lubricant when added to food products but is also used as a potent antioxidant and flavor protector. Lecithin has major applications in dietary supplements, ice creams & dairy products, infant formulas, bread, margarine, and other convenience foods.
Soy lecithin is a popular ingredient in the food industry as it can be used as a wetting agent, for viscosity reduction, crystallization control, cholesterol control, and chlorine enrichment. Soy lecithin is safe as it is present in such small amounts, making it unlikely to be harmful to the general population and people who are allergic to soy.
“Increased Veganism Providing Market Growth Strategies”
The expanding vegan population is a direct result of a growing consciousness about the benefits of natural plant-based food items over animal-based food products. The reasons for the same are mostly ethical, ecological, and health-centric. Soy and soy foods have a great deal to offer to vegan consumers around the globe. With its high protein content, it has emerged out to be the best plant-based meat alternative. Soybean has a wide variety of products including soy sauce, tamari, miso, tempeh, tofu, and soymilk to offer to the growing vegan population. The fact that soy-based products are among the top and most frequently recommended products when it comes to highlighting plant-based nutrition have surely resulted in their popularity among vegans. With time, the numbers are anticipated to grow and hence might provide momentum to the overall market development.
“Health Benefits Offered by Soybean & Soy Food Bolstering Market”
Soy is a high-quality protein and is one of the lesser-known plant foods to contain all necessary amino acids that are majorly found in Meat. It is a potent alternative to meat and a boon for vegetarians & vegans for ensuring a proper diet for protein-based needs. The soybean is rich in fiber and protein and low in saturated fats. It is a cholesterol-free, lactose-free, rich source of omega-3 fatty acids, antioxidants, and phytoestrogens. A regular intake of soy-based products can help in managing, controlling, or reducing a range of health problems including cardiovascular diseases, strokes, coronary heart diseases (CHDs), and cancer, and aids in improving bone health. Due to its content of hormone-like substances, it helps in reducing menopausal symptoms such as hot flushes. It is estimated that four daily servings of soy foods can reduce our LDL and cholesterol by 3% to 4%.
“Sunflower Lecithin a Prime Rival of Soy Lecithin Limiting Market Growth”
Over Time sunflower lecithin has emerged as a prime competitor to soy lecithin due to several attributes. Sunflower lecithin can be extracted naturally without the use of chemicals and hence emerge as a safer and healthier choice than soy lecithin. It also depicts a higher chlorine content than soy lecithin aiding several physiological processes occurring in the body. Moreover, soy lecithin contains a higher level of estrogen, which increases the risks of hormonal problems in females such as infertility, menstrual irregularities, and menopause symptoms.
Furthermore, although the levels of phospholipids present in both are comparable sunflower lecithin can reduce the risk of degenerative disorders like Parkinson’s and Alzheimer’s disease. Hence, it aids in improving cognitive and neurological health. As an emulsifier, lecithin tends to reduce cholesterol, and triglyceride levels and lowers the risk of hypertension, stroke, and heart attacks. However, sunflower lecithin tends to be more effective than soy lecithin.
Which Country in East Asia Leads the Market for Soybean by-products?
In the East Asian market, China is witnessing the highest market share of 72.3% during the forecast period 2023-2033. This is owing to that the country is one of the pioneer producers of animal feed worldwide. Moreover, the increasing demand for different animal feed products will have a positive impact on the market.
What is the Demand Outlook for Soybean by-products in the South Asian Region?
Indian market is witnessing the highest market share of 43% over the forecast period. This is due to India's increasing population, increasing disposable incomes, growth in the food services sector, and growing demands in non-food applications.
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Which Type of Soybean by-products is Among the Utilization in End Use Industries?
Soybean oil is expected to hold the second-highest market share of 22% during the forecast period. Soy oil is widely used in making a variety of food products and offers numerous health benefits to consumers, making it a preferable choice for health-conscious customers and lowering blood cholesterol levels have been introduced. Furthermore, the significant penetration of international food trends in India has increased the use of soybean oil in the preparation of condiments, shortenings, dressings, margarine, non-dairy creamers, mayonnaise, shortenings, and whipped toppings, among others.
How is Bolstering Animal Feed Industry Bringing New Opportunities for Market Development?
The increasing use of soybean oil cakes in animal feed is due to its principal protein supplement and a source of metabolizable energy to animals. Soybean oil cakes are widely accepted in the animal feed industry, as they are associated with high content of proteins and amino acid composition.
The market value of soybean by-products in the animal feed industry is expected to hold the largest market share of ~46.2% during the forecast period.
The majority of large-scale international and local businesses make up the global soybean by-products market. Multinational companies with a wide variety of products account for roughly 20-30% of the worldwide soybean by-products industry. Companies such as Adani Wilmar, Archer Daniels Midland Company, Cargill, Incorporated, Bunge Limited, and DuPont, among others are some of the major manufactures operating in the global soybean by-products market. Players in the global soybean by-products market are targeting the commercial animal feed industry, especially poultry and aquaculture owing to its rising demand for seafood and poultry meat. Regional players account for a market share of 55-65%, while local players account for 10-15%. These companies are engaged in the business of proving soybean by-products, operate at a small scale, and are more export-oriented.
| Attribute | Details |
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Forecast period |
2023-2033 |
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Historical data available for |
2018-2022 |
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Market analysis |
USD million for value |
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Key regions covered |
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Key countries covered |
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Key market segments covered |
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Key companies profiled |
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Report coverage |
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Customization & pricing |
Available upon request |
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The global market for soybean by-products has a value of US$ 172,361.9 Mn in 2023.
The global market for soybean by-products has a value CAGR of 4.2% from 2018-2022.
The global market for soybean by-products has a value of US$ 317,112.4 Mn in 2033.
The global market for soybean by-products has a value CAGR of 6.3% from 2023-2033.
The top players in the global soybean by-products market include Adani Wilmar, Archer Daniels Midland Company, Cargill, Incorporated, Bunge Limited, and DuPont.
