Zion Market Research Global Soybean Derivatives Market, 2016–2024 | Page 3

Soybean Derivatives Market
the demand for soybean derivatives for the production of coatings, bio-based plastics,
cleansing agents, scented candles, paints, and crayons. Increasing scarcity of natural
resources such as wood led to increased usage of soybean derivatives in the production of
bio-composites. The companies are attempting to improve the efficiency of soybean
derivatives hence opening gateways for new growth opportunities across the world.
However, easy availability of the bagasse and wood pulp in the industrial applications for
the production of bio-plastic and biogas will restrain the global market growth to some
extent.
Global Soybean Derivatives Market by Segmentation: The global soybean derivatives
market is classified based on the application which includes food, feed, soy-based wood
adhesives, biodiesel, soy-based lubricants, soy ink, and others. Based on lecithin
processing the global market is categorized as acid, enzyme, and water. The global
soybean derivatives market is further fragmented on the basis of types such as soy oil,
soybean, soy meal, and others.
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Global Soybean Derivatives Market by Regional Analysis: Asia Pacific dominated the
global market for soybean derivatives due to the high penetration of soybean derivatives in
the region. Favorable growth prospects of the food and beverages industry in the
developing countries such as China and India has triggered the market growth. North
America is also following the same trend owing to its high demand for soybean derivatives.
The Middle East emerges as the dominant contributor for soybean derivatives; it shows