Latin America Soybean Derivatives Market is worth USD 12.13 billion in 2022 and estimated to grow at a CAGR of 7%, to reach USD 17.02 billion by 2028. The Latin America Soybean Derivatives market is developing at an exceptionally quick pace.
In the food industry, soybean derivatives find use in products such as spreads, snacks, breads, baked products, sauces, and mayonnaise. Residual fibers which are produced after the extraction of oil from soybean are also used in the production of feed for aquaculture, bovine etc. Soybean derivatives are also used to manufacture lubricants and hydraulic fluids. Use of soybean derivatives for the production of bio-diesel is also getting increased attention across the globe
The significant drivers for Soybean Derivatives are increasing Latin America population, increasing awareness among consumers about health, and high demand for animal feed. Also surge in the functional purpose of soy in feed in developing economies will boost this industry. Difficulty in maintaining pH and operational temperature of Soybean Derivatives limits this industry.
The Latin America market for Soybean Derivatives is segmented on the basis of Lecithin processing, application, type and region. Based on type, the market is segmented into Soybean, Soy Meal, and Soy Oil. Based on application, the market is segmented into Feed, Food, and Other Industries. Based on Lecithin processing, the market is segmented into Water, Acid, and Enzyme.
Geographically the Latin America Soybean Derivatives Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. The market is anticipated to keep thriving in both created and creating districts. The huge rise in spending has increased the demand for this industry.
Key Players in the market:
Major Key Players in the Latin America Soybean Derivatives Market are
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