Soybean Derivatives Market Analysis

The soybean derivatives market size from soybean meal segment held more than USD 73.6 billion in 2022. Soy meal is a key component in animal feed formulations, used to provide protein and nutrients to livestock. The demand is influenced by the growth of the livestock and poultry industries. Soybean oil is widely used in food preparation, cooking, and frying due to its neutral flavor and high smoke point.

The food and beverages segment accounted for 40% of the soybean derivatives market share in 2022. The growing trend of adopting plant-based diets and the demand for vegetarian and vegan food products drive the use of soybean derivatives like soy protein concentrates and isolates in meat substitutes, dairy alternatives, and other plant-based foods.

The soybean derivatives market from online retail segment is anticipated to grow at 6.3% CAGR through 2032. E-commerce platforms enable manufacturers to reach a global customer base, expanding the market for soybean derivatives beyond regional boundaries. E-commerce facilitates direct sales to end consumers, allowing manufacturers to establish a direct relationship with customers and gather feedback.

U.S. soybean derivatives market size reached USD 58 billion in 2022. North American consumers are increasingly conscious of their health and wellness, leading to a growing demand for plant-based and healthier food options. Soybean derivatives, such as soy protein isolates, are considered nutritious and are used in various food products to enhance their protein content.