Global Soybean Derivatives Market: Overview
A significant rise in public awareness regarding the vast health benefits of soybean in the past few years has made soybean one of the most commonly used oilseeds in the food and beverages industry. Soybean derivatives have been finding an array of applications across many other industries such as animal feed and automotive of late, the food industry still being the dominant consumer.
In the food industry, soybean derivatives find use in products such as spreads, snacks, breads, baked products, sauces, and mayonnaise. Residual fibers produced after the extraction of oil from soybean are used in the production of feed for aquaculture, bovine, swine, and domestic pets. 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.
This report on the global soybean derivatives market presents a thorough overview of the market’s present growth prospects and includes several projections regarding the growth trajectory of the market and its key segments over the period between 2015 and 2021. The report also includes qualitative and quantitative data pertaining to some of the notable recent developments observed in the global soybean derivatives market and detailed analysis of factors expected to have a notable influence on the future growth prospects of the market. The report also includes a detailed overview of the competitive landscape of the market, wherein business profiles of some of the market’s key vendors are examined.
Global Soybean Derivatives Market: Drivers and Restraints
The global market for soybean derivatives has witnessed growth at a significant pace, chiefly owing to its increased use in functional foods and nutritional supplements. Owing to soybean’s high viscosity index and a low level of toxicity, soybean residues are being increasingly used as to manufacture lubricants for the automotive industry. Moreover, soybean residues are also witnessing a significant rise in demand owing to their increased usage in the manufacture of bio-diesel.
In the next few years, the market is expected to benefit from demand for a variety of soybean derivatives in the production of products such as bio-based plastics, crayons, scented candles, paints, cleansing agents, and coatings. The intensifying scarcity of natural resources such as wood across the globe is also leading to the increased usage of soybean derivatives in the production of bio-composites.
However, the market’s potential growth prospects are expected to be hindered to a certain extent owing to the easy availability of substitutes such as bagasse and wood pulp, especially in industrial applications such as the production of biogas and bio-plastic. Nevertheless, increased attempts by companies to improve the efficiency of soybean derivatives is expected to alleviate the threat of substitutes to market’s growth.
Global Soybean Derivatives Market: Geographical and Competitive Dynamics
Of the key regional markets for soybean derivatives, Asia Pacific emerged as the dominant contributor of revenue to the global market in 2014, a trend that is expected to remain strong throughout the report’s forecast period as well. Favorable growth prospects of the food and beverages industry in most of the developed and developing economies in Asia Pacific, chiefly owing to the rising domestic consumption, are expected to boost the overall demand for soybean derivatives in the region in the next few years as well. The North America soybean derivatives market is expected to follow Asia Pacific in terms of revenue in the next few years. Middle Eastern countries are also expected to lead to a substantial rise in demand for soybean derivatives over the report’s forecast period.
Owing to the immense growth opportunities for the soybean derivatives market in regions such as Asia Pacific and Middle East, a large number of companies are foraying entering into the market. Owing to this, the competition in the market is expected to significantly intensify in the near future. Some of the key vendors presently operating in the global soybean derivatives market are Wilmar International Company, Archer Daniels Midland Company, Bunge Limited, Cargill Inc., Louis Dreyfus Commodities, and Noble Group Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.