Global Soy Derivatives Market has been segmented based on Type, Category, Application and Region. According to type, the global soy derivatives market has been divided into Soy Oil, Soy Meal, Soy Protein, Soy Lecithin, Soy Milk and others. The Soy Protein segment has further been classified as soy flour, soy protein isolates, and soy protein concentrates. The soy protein segment is expected to be the largest during the forecast period due to the high protein content in isolates, concentrates, and flour. Soy flour is further processed into various derivative products such as tofu, soy milk, textured soy protein, and others. These products are gaining popularity as protein-rich substitutes which is boosting the growth of the segment. However, the soy meal segment is expected to register the highest growth rate during the forecast period. This can be attributed to the use of soy meal as a high-protein source in cattle feed.
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Some of the key players in the Global Soy Derivatives Market are Dupont Nutrition and Health (US), Noble Group Ltd (Hong Kong), Wilmar International Ltd (Singapore), Cargill Inc. (US), CHS Inc. (US), Ruchi Soya Industries Ltd (India), Archer Daniels Midland Company (US), Bunge Ltd (US), Louis Dreyfus Company BV (Netherlands) and AG Processing Inc. (US)
Based on category, the global soy derivatives market has been segmented into conventional and organic. The conventional segment is expected to hold the larger market share during the review period. However, the organic segment is expected to register the higher growth rate during the forecast period owing to the shifting consumer preference for organic products.
Based on application, Global Soy Derivatives Market has been segregated into food & beverage, animal feed, pharmaceuticals and nutraceuticals, personal care, and others. The food and beverages segment have further been divided into bakery and confectionery, RTE and RTC food, beverages, and others. The food & beverage segment is expected to be the largest during the forecast period owing to the high demand for plant-based protein.
Global Soy Derivatives Market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to account for the largest market share during the review period. The US is expected to contribute significantly to the growth of the soy derivatives market in the region and be the largest country-level market during the forecast period owing to the increasing adoption of health and wellness trends by consumers.
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