Soybean By-products Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Soybean By-products Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global soybean by-products market has experienced notable growth in recent years, driven by an increasing demand for plant-based proteins and the growing awareness of the benefits of soybean-derived products.Valued at approximately USD 183.21 million in 2024, the market is projected to reach USD 287.4 million by 2031, reflecting a CAGR of 6.60% over the forecast period. This growth is largely attributed to the multifunctional properties of soybean by-products, making them essential ingredients in a variety of food and non-food applications.

Soybean By-Products Consumption Analysis

Over the past few years, the global soybean by-products market has seen significant development. Factors contributing to this market’s expansion include the rising popularity of plant-based diets and the growing demand for alternative protein sources. Soybean by-products, known for their functional and nutritional benefits, have become integral components in the food industry, particularly in regions such as Europe and East Asia, where they play a critical role in the animal feed industry.

Key Trends in the Soybean By-Products Market

Consumer Shift Toward Plant-Based Products

A major trend driving the soybean by-products market is the increasing consumer inclination toward plant-based food products. With a growing awareness of the health benefits associated with plant-based diets, more consumers are turning to alternatives to conventional animal-based products. This shift is also fueled by the rise of the fitness and nutrition industries, which promote the use of plant-based sources for meeting nutritional requirements. Soybean by-products, such as soy milk, meat alternatives, and frozen meals, are gaining traction as they offer a nutritious and environmentally friendly option for health-conscious consumers. The growing awareness of the negative impacts of animal agriculture on the environment and animal welfare further propels the demand for plant-based alternatives.

Soy Lecithin's Rising Importance in the Food Industry

Soy lecithin has become increasingly important in the food industry due to its versatile properties. Used as a food additive, soy lecithin functions as an emulsifier, lubricant, antioxidant, and flavor protector. Its applications span across various food products, including dietary supplements, ice creams, dairy products, infant formulas, bread, margarine, and convenience foods. The popularity of soy lecithin is also attributed to its safety, as it is typically present in small amounts, reducing the risk of adverse effects for those who might be allergic to soy. As a result, soy lecithin has become a key ingredient in many processed foods, contributing to the overall growth of the soybean by-products market.

Expansion of the Vegan Population

The expanding vegan population is another factor contributing to the growth of the soybean by-products market. With increasing awareness of the ethical, ecological, and health benefits of plant-based diets, more consumers are adopting vegan lifestyles. Soybean products, such as soy sauce, tamari, miso, tempeh, tofu, and soy milk, are among the most popular choices for vegan consumers due to their high protein content and nutritional value. As the vegan population continues to grow, the demand for soybean by-products is expected to rise, providing further momentum for market development.

Health Benefits of Soybean and Soy Foods

Soybean is a highly nutritious plant-based protein that offers numerous health benefits. It contains all the essential amino acids, making it an excellent alternative to meat, particularly for vegetarians and vegans. Soybeans are rich in fiber, protein, and omega-3 fatty acids, while being low in saturated fats and cholesterol-free. Regular consumption of soy-based products can help manage and reduce the risk of various health conditions, including cardiovascular diseases, strokes, coronary heart diseases, and cancer. Soy also plays a role in improving bone health and reducing menopausal symptoms, making it a valuable component of a healthy diet. These health benefits continue to drive the demand for soybean by-products in the global market.

Challenges in the Soybean By-Products Market

Competition from Sunflower Lecithin

Sunflower lecithin has emerged as a significant competitor to soy lecithin, posing a challenge to the growth of the soybean by-products market. Sunflower lecithin is considered a safer and healthier alternative due to its natural extraction process, which does not involve chemicals. Additionally, sunflower lecithin has a higher chlorine content, which supports various physiological processes in the body. While both soy and sunflower lecithin contain comparable levels of phospholipids, sunflower lecithin is perceived as more effective in reducing the risk of degenerative disorders like Parkinson’s and Alzheimer’s disease. As an emulsifier, sunflower lecithin is also more effective in lowering cholesterol and triglyceride levels, thereby reducing the risk of hypertension, stroke, and heart attacks. The growing preference for sunflower lecithin over soy lecithin presents a challenge to the soybean by-products market.

Regional Insights

East Asia's Leading Position

In East Asia, China is the dominant player in the soybean by-products market, largely due to its status as a major producer of animal feed. The country’s significant share of the market is driven by the growing demand for various animal feed products, which in turn supports the overall growth of the soybean by-products industry in the region. China’s strong position in the market is expected to continue, with the increasing demand for soybean by-products fueling further expansion.

South Asia's Growing Demand

In South Asia, India is emerging as a key market for soybean by-products, with demand driven by factors such as population growth, increasing disposable incomes, and the expansion of the food services sector. The growing non-food applications of soybean by-products also contribute to the market's expansion in the region. As the population continues to grow and consumer preferences evolve, the demand for soybean by-products in South Asia is expected to rise.

Category Insights

Soybean Oil's Role in the Market

Soybean oil is a significant product in the soybean by-products market, with widespread use in the food industry. It is preferred by health-conscious consumers for its numerous health benefits, including its ability to lower blood cholesterol levels. Soybean oil is commonly used in the preparation of various food products, such as condiments, shortenings, dressings, margarine, non-dairy creamers, mayonnaise, and whipped toppings. The increasing penetration of international food trends in regions like India has also led to a rise in the use of soybean oil in food preparation, further contributing to its market share.

Animal Feed Industry's Contribution

The animal feed industry is a major consumer of soybean by-products, particularly soybean oil cakes. These by-products are highly valued in the industry for their high protein content and amino acid composition, making them an essential protein supplement and source of metabolizable energy for animals. The use of soybean oil cakes in animal feed is expected to continue growing, driven by the rising demand for high-quality protein sources in the poultry and aquaculture sectors. As the animal feed industry expands, it is expected to provide significant growth opportunities for the soybean by-products market.

Competitive Analysis

The global soybean by-products market is characterized by the presence of a mix of large-scale international companies and smaller regional and local players. Multinational companies, which offer a wide range of soybean by-products, hold a significant share of the global market. These companies are actively targeting the commercial animal feed industry, particularly in sectors like poultry and aquaculture, where the demand for soybean by-products is high.

Regional players, which operate on a smaller scale and are often more export-oriented, also play a crucial role in the market. These companies focus on providing high-quality soybean by-products to meet the specific needs of their customers, both locally and internationally.

Key companies profiled
• Archer Daniels Midland
• Cargill, Incorporated
• Adani Wilmar
• Ruchi Soya Industries Limited
• Bunge Limited
• Yee Lee Corporation Bhd
• Ragasa
• DuPont de Nemours, Inc.
• Ag Processing Inc
• Owensboro Grain Company
• CHS Inc.
• Gujrat Ambuja Exports Limited
• AAK Limited
• Adams Group
• Sonic Biochem
• Group vandamme
• Amaggi
• Oleo-Fats, Incorporated
• GIIAVA
• Thai Vegetable Oil PCL
• Others ( on Additional Request)

Soybean by-products Industry Research by Category

By Nature:
• Organic
• Conventional

By Type:
• Soybean Oil
• Oilcake
• Lecithin

By End Use:
• Food Processing Industry
• Foodservice Industry
• Animal Feed
• Retail/Household
• Others

By Region:
• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa

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