The global soybean by-products market has been a dynamic and growing sector, driven by the increasing demand for plant-based proteins and the expanding popularity 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. Soybean by-products are recognized for their diverse functional and nutritional properties, making them essential ingredients in various compounded foods. The market is poised for continuous growth, with significant demand originating from regions like Europe and East Asia, which play a crucial role in the animal feed industry.
Soybean by-products offer a range of applications due to their functional and nutritional benefits. These products are increasingly being used in the food processing industry, foodservice sector, and animal feed industry. Regions like Europe and East Asia are expected to continue driving demand for soybean by-products, particularly due to their established dominance in the animal feed industry.
Soybean by-products, such as soy milk, meat substitutes, and frozen meals, have gained popularity due to their plant-based nature and nutritional benefits. The growing awareness of the environmental impact of animal-based products and concerns about animal cruelty are also driving consumers toward plant-based options, creating lucrative growth opportunities for the soybean by-products market.
The use of soy lecithin is expected to grow, driven by its safety profile and multifunctional properties. Despite the presence of alternatives like sunflower lecithin, soy lecithin remains a preferred choice in many applications, contributing to the overall growth of the soybean by-products market.
The growing popularity of plant-based nutrition, coupled with the increasing number of consumers adopting vegan diets, is expected to provide momentum to the soybean by-products market. As more consumers shift toward plant-based diets, the market for soybean by-products is likely to see continued expansion.
The consumption of soy-based products is associated with various health benefits, including improved cardiovascular health, reduced risk of strokes, coronary heart diseases, and certain cancers, and enhanced bone health. Soy foods can also help manage menopausal symptoms and lower LDL cholesterol levels, further increasing their appeal among health-conscious consumers.
Sunflower lecithin is also believed to be more effective in reducing the risk of degenerative disorders such as Parkinson’s and Alzheimer’s disease. It offers benefits similar to soy lecithin in terms of cholesterol and triglyceride reduction but is perceived to be more effective in promoting cognitive and neurological health. As a result, sunflower lecithin is gaining traction as a preferred emulsifier in the food industry, posing a challenge to the growth of soy lecithin.
Regional players hold a considerable share of the market, while local players operate on a smaller scale and are more export-oriented. Companies in the soybean by-products market are actively expanding their product portfolios and market reach to capitalize on the growing demand for plant-based nutrition and animal feed products.
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Soybean By-products Consumption Analysis
The global market for soybean by-products has experienced considerable growth in recent years. This growth is largely attributed to the rising consumer preference for plant-based nutrition and the versatility of soybean by-products in various applications. As consumers become more health-conscious and seek alternatives to traditional animal-based products, soybean by-products have emerged as a key ingredient in both food and non-food sectors.Soybean by-products offer a range of applications due to their functional and nutritional benefits. These products are increasingly being used in the food processing industry, foodservice sector, and animal feed industry. Regions like Europe and East Asia are expected to continue driving demand for soybean by-products, particularly due to their established dominance in the animal feed industry.
Key Trends in the Soybean By-products Market
Consumer Inclination toward Plant-based Food Products
The growing consumer awareness regarding the health benefits associated with plant-based food products has significantly contributed to the rising demand for soybean by-products. The fitness and nutrition industries have seen substantial growth, further fueling the reliance on plant-based sources to meet the nutritional needs of consumers. Many consumers are now opting for plant-based alternatives to conventional dairy, eggs, and meat products, spurring innovation in flavors, forms, and ingredients.Soybean by-products, such as soy milk, meat substitutes, and frozen meals, have gained popularity due to their plant-based nature and nutritional benefits. The growing awareness of the environmental impact of animal-based products and concerns about animal cruelty are also driving consumers toward plant-based options, creating lucrative growth opportunities for the soybean by-products market.
Increasing Use of Soy Lecithin in the Food Industry
Soy lecithin is a versatile food additive, widely used as an emulsifier, antioxidant, and flavor protector. Its applications span various food products, including dietary supplements, ice creams, dairy products, infant formulas, bread, margarine, and other convenience foods. Soy lecithin is favored in the food industry for its ability to act as a wetting agent, control viscosity, and aid in crystallization, cholesterol control, and chlorine enrichment.The use of soy lecithin is expected to grow, driven by its safety profile and multifunctional properties. Despite the presence of alternatives like sunflower lecithin, soy lecithin remains a preferred choice in many applications, contributing to the overall growth of the soybean by-products market.
Expanding Veganism
The rise of veganism, driven by ethical, ecological, and health-related concerns, has had a significant impact on the soybean by-products market. Soy and soy-based foods are highly regarded by vegan consumers for their high protein content and as a viable alternative to meat. Products such as soy sauce, tamari, miso, tempeh, tofu, and soymilk have become staples in the diets of many vegans, further boosting the demand for soybean by-products.The growing popularity of plant-based nutrition, coupled with the increasing number of consumers adopting vegan diets, is expected to provide momentum to the soybean by-products market. As more consumers shift toward plant-based diets, the market for soybean by-products is likely to see continued expansion.
Health Benefits of Soybean and Soy Foods
Soy is a rich source of high-quality protein and one of the few plant-based foods that contain all essential amino acids typically found in meat. This makes soy a valuable alternative for vegetarians and vegans seeking to meet their protein requirements. In addition to its protein content, soy is high in fiber, low in saturated fats, and cholesterol-free. It is also a rich source of omega-3 fatty acids, antioxidants, and phytoestrogens.The consumption of soy-based products is associated with various health benefits, including improved cardiovascular health, reduced risk of strokes, coronary heart diseases, and certain cancers, and enhanced bone health. Soy foods can also help manage menopausal symptoms and lower LDL cholesterol levels, further increasing their appeal among health-conscious consumers.
Competition from Sunflower Lecithin
Despite the numerous benefits of soy lecithin, sunflower lecithin has emerged as a strong competitor in the market. Sunflower lecithin is considered a safer and healthier alternative, as it can be extracted without the use of chemicals. It also contains higher levels of chlorine, which supports various physiological processes in the body. Moreover, sunflower lecithin is free from estrogen, reducing the risk of hormonal issues in females.Sunflower lecithin is also believed to be more effective in reducing the risk of degenerative disorders such as Parkinson’s and Alzheimer’s disease. It offers benefits similar to soy lecithin in terms of cholesterol and triglyceride reduction but is perceived to be more effective in promoting cognitive and neurological health. As a result, sunflower lecithin is gaining traction as a preferred emulsifier in the food industry, posing a challenge to the growth of soy lecithin.
Regional Insights
East Asia
In East Asia, China stands out as a major market for soybean by-products, driven by the country's leading role in the animal feed industry. The demand for animal feed products in China is expected to have a positive impact on the soybean by-products market, with the country holding a significant share of the market during the forecast period.South Asia
India is another key market for soybean by-products, supported by factors such as a growing population, rising disposable incomes, and an expanding food services sector. The increasing demand for non-food applications of soybean by-products is also contributing to the market's growth in this region.Category Insights
Soybean Oil
Soybean oil is anticipated to hold a significant share of the market during the forecast period. It is widely used in the preparation of various food products and is favored by health-conscious consumers for its ability to lower blood cholesterol levels. The penetration of international food trends in countries like India has further increased the use of soybean oil in products such as condiments, dressings, margarine, and non-dairy creamers.Animal Feed Industry
Soybean oil cakes are widely used in the animal feed industry due to their high protein content and amino acid composition. The increasing use of soybean oil cakes in animal feed is expected to drive the growth of the soybean by-products market, with the animal feed industry holding a substantial share of the market during the forecast period.Competitive Analysis
The global soybean by-products market comprises a mix of large-scale international companies, regional players, and local businesses. Multinational companies account for a significant share of the market, with major players including Adani Wilmar, Archer Daniels Midland Company, Cargill, Incorporated, Bunge Limited, and DuPont. These companies are focusing on the commercial animal feed industry, particularly poultry and aquaculture, to meet the rising demand for seafood and poultry meat.Regional players hold a considerable share of the market, while local players operate on a smaller scale and are more export-oriented. Companies in the soybean by-products market are actively expanding their product portfolios and market reach to capitalize on the growing demand for plant-based nutrition and animal feed products.
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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Table of Contents
1. Executive Summary
2. Market Overview
3. Production Output and Trade Statistics, 2019 - 2023
4. Price Analysis, 2019 - 2023
5. Global Soybean By-products Market Outlook, 2018 - 2031
6. North America Soybean By-products Market Outlook, 2018 - 2031
7. Europe Soybean By-products Market Outlook, 2018 - 2031
8. Asia Pacific Soybean By-products Market Outlook, 2018 - 2031
9. Latin America Soybean By-products Market Outlook, 2018 - 2031
10. Middle East & Africa Soybean By-products Market Outlook, 2018 - 2031
11. Competitive Landscape
12. Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Cargill, Incorporated
- Archer Daniels Midland
- 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
Methodology
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