Soybean derivatives are growing as an upcoming and healthy market, wherein companies are adopting different development strategies to increase their market presence.
Bunge Ltd (U.S.), Archer Daniels Midland Company (U.S.), Louis Dreyfus Commodities (The Netherlands), Cargill, Incorporated (U.S.), and Wilmar International Limited (Singapore) are the leading players in this market and are establishing their presence through development of their production capacities.
The U.S. Soybean Export Council (USSEC) takes initiatives for the promotion of U.S. soy in countries, with the help of different private and government sources. The European agricultural policy imposes lower tariffs on animal feed than many other agricultural products, thus making soy meal a relatively cheap import. In Spain, the government encourages the domestic production of soybeans to reduce the heavy dependence on soybean imports.
The soybean derivatives market is being driven by the high demand for animal feed and rising awareness among consumers for healthy and nutritious food. Rapid market expansion in developing countries along with the commodity’s significant reliance on genetically modified soybean has given rise to a host of sustainability concerns. The market in the North American region is projected to grow at the highest CAGR of 9.2% during the forecast period. In the Asia-Pacific region, China, India, and Japan are estimated to have immense market potential.
Soybean Derivatives Market by Type (Soybean, Soy Meal, and Soy Oil), by Application (Feed, Food, and Other Industries), by Lecithin Processing (Water, Acid, and Enzyme) and by Region - Global Trends & Forecast to 2020
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