I think the fact they called it Tiverton Junction was an indication there was very little of any significance there and it was mainly a place to change trains. I presume it was there basically because that's where geography suggested the branches could most easily join the main line and I suspect also the meat packers located there because that's where the station was.
It was my local station for quite a while - there wasn't much there locally, no. I was mostly curious why it was being lumped into the "bizarrely huge traffic centre" pot. The Bristol & Exeter nearly went via Tiverton & Crediton to Exeter, so the branch might have been the one down the Culm instead.
According to the Wikipedia page on Lloyd Maunder, the company moved to Willand (from Witheridge?) in 1913 because it was on the railway and the company was a major supplier to businesses in London, including Sainsburys. All I can remember is visiting the signal box and being dashed glad that I hadn’t applied for a job there due to the stink from the meat processing plant.
As an additional comment about the fuel depot, I came across a reference that suggested it was taken over by Esso in 1957.
Ugh, that smell almost managed to associate itself with railways in general. Not quite as bad as Bridgwater, but not great.