The global soybean derivatives market is anticipated to grow at a considerable CAGR of 4.9% during the forecast period (2024-2031). The strategic initiatives taken by the prominent players operating in the market are creating significant scope for market development. Business expansion, growth initiatives, and new product/technology launches are some of the strategies market players are incorporating in order to fulfill the growing market demand. Such as in March 2021, Bunge launched an unprecedented initiative “Dubbed Bunge Sustainable Partnership” to share best practices with grain dealers about traceability and monitoring of soybeans crops linked to its indirect supply chain in the Cerrado region. The program helped partners implement supply chain verification systems, including satellite and farm-scale images.
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Moreover, in March 2021, Cargill invested significantly in its U.S. soy processing operations, with modernization and expansion projects across its network of crush facilities in seven states. The objective of the investment is to increase access and speed for U.S. farmers and demand customers.
Similarly, in October 2021, Archer Daniels Midland Company announced that it will build a soybean crushing plant and refinery to meet fast-growing demand from food, feed, industrial and biofuel customers, including producers of renewable diesel. The plant would be North Dakota’s first-ever dedicated soybean crushing plant with the capacity to process 150,000 bushels of soybeans per day. The facility is expected to be complete prior to the 2023 harvest. Such initiatives are projected to drive market growth during the forecast period.
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Market Coverage
Segment Covered-
- By Type
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Ag Processing Inc a cooperative, Archer Daniels Midland Company, International Flavors & Fragrances Inc., Louis Dreyfus Company, Ruchi Soya Industries Ltd., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected regions and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Soybean Derivatives Market Report by Segment
By Type
- Soy Oil
- Soy Bean
- Soy Meal
- Others
By Application
- Feed & Food Industry
- Bio Composites
- Biodiesel
- Insulation
- Others
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