The Europe Soybean Derivatives Market was at US$ xx million in 2022, and it is predicted that it will reach a valuation of US$ xx million by the end of 2028 with an expansion rate (CAGR) of xx% between 2023 and 2028.
Soybeans offer various useful nutrients like carbohydrates, vitamins, proteins, and minerals that are essential for humans. Derivatives of soy are obtained from soybeans and other soy by-products. Soy is one of the world renowned oilseeds, and soybeans provide more than 50% of the oilseed supply and is a major source of oil. Soy derivatives are the best dietary supplements and diet foods for vegetarians and vegan consumers. Derivatives of soy are rich in nutrients, protein, healthy fats, and many other ingredients. Derivatives of soy are the cheapest source of dietary supplements. Apart from the food industry, the feed industry is one of the most important end-use segments of the global soy derivatives market. The beans are widely grown as edible beans with many end-uses. Additionally, fat-free soy flour is considered an inexpensive protein source for animal feed and packaged foods. Soy is the fourth most produced crop worldwide by yield. In addition, soy and its derivatives are used in food and various industries.
A growing world population and increasing urbanization are key drivers of the growth of the Europe Soybean Derivatives market.
The increasing use of soy derivatives in the food and beverage industry is a key factor driving the growth of the Europe Soybean Derivatives market. Additionally, the increased adoption of processed soy derivatives in confectionery, salad dressings and mayonnaise is another important factor that is expected to significantly drive the growth of the Europe Soybean Derivatives market. Soy derivatives are becoming a sustainable solution in the manufacture of biodiesel and a better alternative to petrochemicals. The growth of key end-use industries, the increasing demand for biodegradable and sustainable products is also driving the growth of the Europe Soybean Derivatives business. Biodiesel will be a potential end-use segment for soy derivatives in the near future. Soy derivatives are in increasing demand in the production of scented candles, crayons, bio-based plastics, coatings, cleaners, and paints. The tremendous demand from the pet food industry has also fueled the growth of this market. The growing importance of recycling and the growing demand to replace scarce resources such as wood has led to an increase in the application of soy derivatives for the production of bio-composites. The surge in application of bio-composites in the plastics industry to manufacture carpet backings and truck bed liners due to their competitive price and environmental friendliness is expected to have a positive impact on the Europe Soybean Derivatives market in the future.
Due to their excellent thermal insulation properties and low levels of VOC emissions, soy derivatives are increasingly used in thermal insulation to save heating and cooling costs for businesses and homes. These trends are expected to have a positive impact on the Europe Soybean Derivatives market during the outlook period. Soy derivatives are increasingly used by companies to manufacture plastics for agricultural equipment due to their properties such as good elasticity, good surface quality and good resistance to corrosion. Due to their low hazard level and high viscosity index, soy derivatives are widely used in the production of oil in the automotive industry. The feed industry has a wide demand for soy derivatives and is classified into aquaculture, poultry, pet food, farm animals, etc. The poultry sector has the highest demand for soy derivatives due to their high protein content. As science and technology advance, the applications of soy derivatives for industrial use will increase in the near future. Increasing populations and lifestyle changes have led to increased consumption of processed foods, making them a major driver of the Europe Soybean Derivatives market. Growing economies and the rising influence in the West and rising disposable income have further boosted demand for soy derivatives.
The short shelf life of soybean products, the high content of unsaturated fatty acids in soybeans, and damage to personal health are the main factors impeding the growth of the Europe Soybean Derivatives market. Additionally, the availability of soybean derivative alternatives such as sugarcane and wood pulp is another factor that is likely to hamper the growth of the Europe Soybean Derivatives market during the outlook period.
The Europe Soybean Derivatives market is segmented by type into soybean meal, soy oil, soybean, etc. The soybean oil segment had the largest market share in 2019 and will continue through the forecast period (2020-2025) as consumers become more aware of health benefits such as obesity and reduced levels of blood sugar It applies to a variety of food products, such as baked goods and snacks. Additionally, increased revenue and innovations in this sector further boosted market growth.
The Europe Soybean Derivatives market on the basis of application has food, feed and others. The food sector had the largest market share in 2019 and is supposed to continue through the outlook period (2023-2028). This segment is estimated to emerge due to increased protein consumption, with the easy availability of inexpensive, high-quality protein sources, a greater preference for processed foods, and higher levels of investment to expand oilseed milling capacity.
By lecithin processing, the regional market is divided into water, acid and enzyme.
The coronavirus pandemic is affecting societies and economies around the world. The impact of this virus is not only affecting the supply chain, but also increasing day by day. The COVID-19 crisis is creating uncertainty in the stock market, a massive slowdown in the supply chain, a decline in business credibility, and increased panic among customer segments. Trade barriers are further holding back the supply and demand outlook. The entire production process is negatively affected as the governments of various regions have already announced full closures and temporary closures of the industry. Therefore, it disrupts the market for Soybean Derivatives around European region.
Geographically the Europe Soybean Derivatives Market is segmented into UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe. The European region has large number of livestock, so there is a great demand for soy derivatives. Europe is expected to dominate the Soybean Derivatives market and occupy the highest market share in terms of revenue due to factors such as higher demand for those derivatives and increased use of soybean products in the countries of the area. This is due to the abundant availability of soybean crops and the growing demand of the food and beverage industry for soy derivatives in the countries of the locale.
Key Players in the Market:
Major Key Players in the Europe Soybean Derivatives Market are
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