Growing Usage in Biodiesel
There is a dominant trend of soybean oil as a biodiesel feedstock, leveraging the extensive soybean acreage for robust production. The inherent benefits of soybean oil in biodiesel production, coupled with existing infrastructure and widespread cultivation, contribute to its significant market share. The promotion by US soybean farmers, further amplifies its role in biodiesel, with a notable increase.
Soy Lecithin's Vital Role
Lecithin, a complex mixture hued in brownish-yellow, comprises neutral lipids, phospholipids, glycolipids, and sugars. Soy emerges as the primary source for lecithin production, boasting nutritional, medicinal, and functional qualities applied across diverse industries. As an emulsifier in industrial applications, soy lecithin finds applications in food, feed, paints, cosmetics, polymers, and pharmaceuticals.
The soy lecithin market propels forward, with a total projected sales value of USD 992.2 million by 2032, registering a CAGR of 5.8% during the forecast period.