Soybean Derivatives Market Will Increase Strongly Through 2021

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Soybean Derivatives Market - Global USD 4315.5
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REPORT DESCRIPTION

Soybean derivatives are finding increasing application in end use industries such as food, feed and automotive among others. In
the food industry soybean derivatives are used in the production of snacks, spreads, baked products, breads, salad dressings,
mayonnaise, potato chips and sauces. The residual fibers obtained from the extraction of soybeans oil is utilized in the
production of feed for swine, bovine, aquaculture and pets. Moreover, it is also used in manufacturing of hydraulic fluids and
lubricants. Bio-diesel is another area of application where soybean derivatives are being used. The market on the basis of
lecithin processing, is segmented into acid, water and enzyme. The market is further categorized into soy meal, soybean and
soy oil on the basic of product type.
Globally, the soybean derivatives market witnessed significant growth in recent years as a result of its wide use in the
formulation of nutrition supplements and functional foods. On account of its lubrication properties such as low toxicity and high
viscosity index, there has been a surge in the demand of soybean derivatives from the automotive industry. Increasing use of
soybean derivatives in the production of bio-diesel is also expected to augment demand for soybean derivatives market. The
market is expected to further grow as a result of the use of soybean derivatives in the manufacturing...