Global Soybean Oil Market size was valued at USD 97.46 Bn in 2022 and Almond market revenue is expected to reach USD 1,251.31 Bn by 2029, at a CAGR of 4 % over the forecast period (2023-2029).
Soybean Oil market OverviewSoybean oil is a vegetable oil that is extracted from soybeans, which are a type of legume that is native to East Asia. It is one of the most widely consumed vegetable oils in the world, and is used for a variety of applications, including cooking, food processing, and industrial products. Soybean oil is extracted using a process that involves crushing the soybeans and then using solvents such as hexane to separate the oil from the rest of the plant material. Soybean oil is a rich source of polyunsaturated fatty acids, particularly omega-6 fatty acids, as well as monounsaturated fatty acids. It is also a good source of vitamin E and other antioxidants. Soybean oil is commonly used as a cooking oil, particularly in Asian cuisine, and is also used in the production of food products such as margarine, mayonnaise, and salad dressings. Soybean oil is used in a variety of industrial applications, including biodiesel production, as a lubricant, and as a feedstock for other chemical processes. To know about the Research Methodology :- Request Free Sample Report Increasing Health Awareness and Sustainable Agriculture Practices to boost the Soybean Oil Market growth Increasing demand for healthier food options as consumers become more health-conscious, they are looking for healthier food options, including cooking oils that are low in saturated fat and high in unsaturated fat is expected to boost the Soybean oil market growth. The food industry is growing rapidly, and soybean oil is a key ingredient in many food products, such as margarine, mayonnaise, and salad dressings. As the food industry grows, the demand for soybean oil increases and influence the Soybean oil industry growth. Soybean oil is used in a variety of industrial applications, such as biofuels and lubricants. The availability of soybeans and other raw materials used to produce soybean oil is expected to impact the market. If there is a shortage of soybeans, for example, it can drive up the price of soybean oil and provide benefit to the Soybean oil producer. Government policies and regulations is expected to influence the soybean oil market growth. For example, incentives for biofuel production can increase the demand for soybean oil, while tariffs or trade restrictions can limit the supply and increase prices. Soybean oil is used in the production of biodiesel, which is a renewable and more environmentally friendly alternative to fossil fuels. As governments and consumers become more concerned about climate change and air pollution, the demand for biodiesel is expected to grow and is significantly contributing for the Soybean oil industry growth. Soybean oil is low in saturated fat and high in unsaturated fat, which makes it a healthier option than some other cooking oils. As consumers become more health-conscious, the demand for healthier cooking oils, such as soybean oil, is expected to increase. The food industry is one of the major users of soybean oil, as it is used in a wide range of products, including margarine, mayonnaise, and salad dressings. As the food industry continues to grow, the demand for soybean oil is expected to increase. Fluctuating Prices and Environmental Concerns to restrain the Soybean Oil Market growth Soybean oil faces competition from other vegetable oils, such as palm oil, canola oil, and sunflower oil. These oils is cheaper and have certain properties that make them more attractive to buyers. These factors are expected to restrain the Soybean Oil Industry growth. Soybean oil is considered a healthy oil, some people are concerned about the presence of genetically modified organisms (GMOs) in soybeans, as well as the use of pesticides and other chemicals in farming. As a result, some consumers may choose to avoid soybean oil or switch to alternative oils. Soybean farming have negative environmental impacts, such as deforestation, soil degradation, and water pollution. As consumers and governments become more aware of these issues, the demand is more sustainable and environmentally-friendly alternatives to soybean oil. Soybean oil is a commodity, and its price can be affected by political and economic instability in producing countries. Disruptions to the supply chain or changes in government policies can cause price fluctuations is expected to limit the Soybean Oil Market growth. The availability of soybeans, the main raw material used to produce soybean oil, restrains the market growth. Weather events, natural disasters, and other factors is expected to impact the supply of soybeans and therefore the availability and price of soybean oil increase and hinders the growth of Soybean oil Industry. Trends in Soybean Oil Market • Increasing demand for sustainable and organic products • Growing demand for non-GMO soybean oil • Increasing use in the biofuels industry • Rising demand from developing countries Opportunities in Soybean Oil Market Increasing demand for plant-based products: As consumers become more health-conscious and environmentally aware, there is growing demand for plant-based products, including cooking oils. Soybean oil is a plant-based oil and can be marketed to consumers looking for healthier and more sustainable alternatives to animal-based products. Growing demand for non-GMO soybean oil: Consumers are concerned about the use of genetically modified organisms (GMOs) in food products, there is a growing demand for non-GMO soybean oil. This presents a lucrative opportunity for Soybean oil producers to differentiate their products and capture market share. Expanding use in the biofuels industry: Soybean oil is a key feedstock for the production of biodiesel, which is a renewable and more environmentally friendly alternative to fossil fuels. As governments and consumers become more concerned about climate change and air pollution, the demand for biodiesel is expected to grow, driving demand for soybean oil. Increasing adoption of sustainable practices Governments become more aware of the negative environmental impacts of soybean farming, there is increasing demand for sustainably produced soybean oil. Producers that adopt sustainable practices and market their products as environmentally friendly may be able to capture a larger share of the market.
Soybean Oil Market Regional AnalysisChanging Dietary Habits to boost the Asia Pacific Soybean Oil Market growth The Asia Pacific soybean oil market is one of the largest and fastest-growing markets for soybean oil globally. The region includes countries such as China, India, Japan, Indonesia, and South Korea. Asia Pacific region dominated the Soybean oil industry in 2022 and is expected to continue the dominance over the forecast period by holding largest Soybean Oil Market share Consumers are becoming more health-conscious and environmentally aware, there is growing demand for plant-based products, including cooking oils. Soybean oil is a plant-based oil and can be marketed to consumers looking for healthier and more sustainable alternatives to animal-based products, which is expected to fuel the Soybean Oil Market growth in the region. The Asia Pacific region has a large and rapidly growing food processing industry, which is a major user of soybean oil. As the industry continues to expand, the demand for soybean oil is expected to grow. Several countries in the Asia Pacific region, such as Indonesia and Malaysia, have implemented policies to support the production and use of biodiesel, which is made from soybean oil and other feedstocks. .Countries in the Asia Pacific region, such as China and India, are investing in soybean farming to increase production and reduce reliance on imports. This is expected to boost the availability and affordability of soybean oil in these countries. The North American regional market is driven by the use of soybean oil as a feedstock for the production of biodiesel, which is a renewable and more environmentally friendly alternative to fossil fuels. Government policies supporting the use of biofuels are expected to drive demand for soybean oil in the region. Increasing adoption of sustainable practices by governments become more aware of the negative environmental impacts of soybean farming, there is increasing demand for sustainably produced soybean oil. Producers that adopt sustainable practices and can market their products as environmentally friendly may be able to capture a larger share of the market. The North American market benefits from the availability of advanced technologies for soybean farming, processing, and marketing, which enable producers to increase efficiency, reduce costs, and improve quality and is expected to influence the Soybean Oil Market growth in North America. Soybean Oil Market Competitive landscape: The Soybean Oil industry is highly competitive, with various opportunities for new market entrants to a continuous shift in consumer preference towards a healthy lifestyle. Application of Soybean Oil in various industries presents a lucrative opportunity for Soybean Oil producers in various parts of the globe. The increase in buying immunity boosters and healthy products including almonds resulted in the disruption of equilibrium prices as the demand exceeds supply and resulted in the increase in prices of Soybean Oil. Beside this factors such as territorial market size, competition intensity, capacity and local infrastructure influence the value chain of the product. Soybean Oil companies are directly involved in retail activity and are investing in e-commerce to gain benefits from the market. The Soybean Oil key players are implementing growth strategies for marketing and online discount schemes to gain a competitive advantage in the market. The strategies adopted by the major player, such as expansion of product portfolio, mergers & acquisitions, geographical expansion, and collaborations, to enhance the Soybean Oil market penetration. These companies are involved in various activities in the soybean oil market, including soybean processing, oil refining, distribution, and marketing. They operate across different regions and have a diverse portfolio of products, including soybean oil for cooking, food processing, and industrial applications. Cargill committed to achieving net-zero greenhouse gas emissions across its supply chain by 2050. The company has also been working to increase the sustainability of its soybean oil supply chain, including efforts to reduce deforestation and promote sustainable farming practices. ADM announced the launch of a new line of non-GMO soybean oil products for the food industry. The products are made using a mechanical refining process that eliminates the need for chemical solvents. Wilmar International launched a new range of specialty soybean oils for the food industry. The oils are designed to meet specific functional and nutritional needs, such as high-heat cooking, reduced trans fats, and improved shelf life.
Soybean Oil Market Segment AnalysisBased on Application, Food and Beverages segment dominated the Soybean Oil market in 2022 and is expected to continue the dominance over the forecast period. Food and Beverages segment is the largest application for soybean oil, accounting for the majority of the global soybean oil consumption. Soybean oil is widely used in the food and beverage industry as a cooking oil, salad oil, margarine, and as an ingredient in various processed food products such as baked goods, snacks, and sauces. Soybean oil is also used in a variety of industrial applications, such as biodiesel production, lubricants, surfactants, and other chemical products. It is used in a range of personal care and cosmetic products such as moisturizers, lotions, and soaps, due to its moisturizing properties and high content of vitamin E and other antioxidants. The oil is used in animal feed formulations as a source of energy and essential fatty acids for livestock such as poultry, swine, and dairy cattle. All these factors is expected to dominate the Soybean Oil industry over the forecast period.Based on Type, Refined Soybean Oil segment is expected to dominate the market over the forecast period. The market is segmented into Refined Soybean Oil, Crude Soybean Oil, and Organic Soybean Oil. Refined soybean oil is the most commonly traded type of soybean oil in the market. It is made by extracting oil from the soybeans using solvents, degumming, refining, and deodorizing to remove impurities and improve the oil's shelf life. Refined soybean oil is mostly used in the food industry for cooking, frying, and baking and is expected to boost the segment in the Soybean oil market over the forecast period. Crude soybean oil is unrefined and is made by pressing or expelling the soybeans. It contains impurities, which are removed during the refining process to produce refined soybean oil. Crude soybean oil is used in various industrial applications such as biodiesel production, and it is also used as a feedstock for further processing to produce refined soybean oil.
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Soybean Oil Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 97.46 Bn. Forecast Period 2023 to 2029 CAGR: 4% Market Size in 2029: US $ 1,251.31 Bn. Segments Covered: by Type • Refined Soybean Oil • Crude Soybean Oil • Organic Soybean Oil by Application • Cooking • Industrial • Personal Care and Cosmetics • Animal Feed • Bakery Products by Distribution Channel • Direct Sales • Supermarkets • Online by End Users • Bakery • Home kitchen • Hotel/Restaurants • Industrial Purpose by Packaging Type • Pouches • Jars • Cans • Bottles by Packaging • Metal • Plastic
Soybean Oil Market by Region• North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)
Soybean Oil Key Players Includes:• Bunge Limited • Cargill, Incorporated • Wilmar International Limited • Ruchi Soya Industries Limited • Archer Daniels Midland Company (ADM) • Louis Dreyfus Company B.V. • Amaggi group • Kerry Group PLC • Louis Dreyfus Commodities Frequently Asked Questions: 1] What is the growth rate of the Global Soybean Oil Market? Ans. The Global Soybean Oil Market is growing at a significant rate of 4% over the forecast period. 2] Which region is expected to dominate the Global Soybean Oil Market? Ans. Asia Pacific region is expected to dominate the Soybean Oil Market over the forecast period. 3] What is the expected Global Soybean Oil Market size by 2029? Ans. The market size of the Soybean Oil Market is expected to reach USD 1.251.31 Bn by 2029. 4] Who are the top players in the Global Soybean Oil Industry? Ans. The major key players in the Global Soybean Oil Market are Bunge Limited, Cargill, Incorporated, Wilmar International Limited, and Ruchi Soya Industries Limited. 5] Which factors are expected to drive the Global Soybean Oil Market growth by 2029? Ans. Increasing Health Awareness and Sustainable Agriculture Practices is expected to drive the Soybean Oil Market growth over the forecast period (2023-2029).
1. Global Soybean Oils Market: Research Methodology 2. Global Soybean Oils Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Soybean Oils Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Soybean Oils Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1. M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.8.1. PORTERS Five Forces Analysis 3.8.2. PESTLE 3.8.3. Regulatory Landscape by region 18.104.22.168. North America 22.214.171.124. Europe 126.96.36.199. Asia Pacific 188.8.131.52. The Middle East and Africa 184.108.40.206. Latin America 3.8.4. COVID-19 Impact 4. Global Soybean Oils Market (Value/Volume) by region: 4.1. Global Soybean Oils Market, by Type 4.1.1. Processed 4.1.2. Virgin 4.2. North America Soybean Oils Market 4.2.1. North American Soybean Oils Market, by Type 4.2.2. Processed 4.2.3. Virgin 220.127.116.11.1. United States 18.104.22.168.2. Canada 22.214.171.124.3. Mexico 4.3. European Soybean Oils Market 4.3.1. European Soybean Oils Market, by Type 4.3.2. Processed 4.3.3. Virgin 126.96.36.199.1. UK 188.8.131.52.2. France 184.108.40.206.3. Germany 220.127.116.11.4. Italy 18.104.22.168.5. Spain 22.214.171.124.6. Sweden 126.96.36.199.7. Austria 188.8.131.52.8. Rest Of Europe 4.4. Asia Pacific Soybean Oils Market 4.4.1. Asia Pacific Soybean Oils Market, by Type 4.4.2. Processed 4.4.3. Virgin. 184.108.40.206.1. China 220.127.116.11.2. India 18.104.22.168.3. Japan 22.214.171.124.4. South Korea 126.96.36.199.5. Australia 188.8.131.52.6. ASEAN 184.108.40.206.7. Rest Of APAC 4.5. The Middle East and Africa Soybean Oils Market 4.5.1. The Middle East and Africa Soybean Oils Market, by Type 4.5.2. Processed 4.5.3. Virgin 220.127.116.11.1. South Africa 18.104.22.168.2. GCC 22.214.171.124.3. Egypt 126.96.36.199.4. Nigeria 188.8.131.52.5. Rest Of ME&A 4.6. Latin America Soybean Oils Market 4.6.1. Latin America Soybean Oils Market, by Type 4.6.2. Processed 4.6.3. Virgin 184.108.40.206.1. Brazil 220.127.116.11.2. Argentina 18.104.22.168.3. Rest Of Latin America 4.7. Global Soybean Oils Market, by Application 4.7.1. Food 4.7.2. Pharmaceutical 4.7.3. Cosmetics 4.7.4. Biodiesel 4.7.5. Others 4.8. North America Soybean Oils Market 4.8.1. North American Soybean Oils Market, by Application 4.8.2. Food 4.8.3. Pharmaceutical 4.8.4. Cosmetics 4.8.5. Biodiesel 4.8.6. Others 22.214.171.124.1. United States 126.96.36.199.2. Canada 188.8.131.52.3. Mexico 4.9. European Soybean Oils Market 4.9.1. European Soybean Oils Market, by Application 4.9.2. Food 4.9.3. Pharmaceutical 4.9.4. Cosmetics 4.9.5. Biodiesel 4.9.6. Others 184.108.40.206.1. UK 220.127.116.11.2. France 18.104.22.168.3. Germany 22.214.171.124.4. Italy 126.96.36.199.5. Spain 188.8.131.52.6. Sweden 184.108.40.206.7. Austria 220.127.116.11.8. Rest Of Europe 4.10. Asia Pacific Soybean Oils Market 4.10.1. Asia Pacific Soybean Oils Market, by Application 4.10.2. Food 4.10.3. Pharmaceutical 4.10.4. Cosmetics 4.10.5. Biodiesel 4.10.6. Others 18.104.22.168.1. China 22.214.171.124.2. India 126.96.36.199.3. Japan 188.8.131.52.4. South Korea 184.108.40.206.5. Australia 220.127.116.11.6. ASEAN 18.104.22.168.7. Rest Of APAC 4.11. The Middle East and Africa Soybean Oils Market 4.11.1. The Middle East and Africa Soybean Oils Market, by Application 4.11.2. Food 4.11.3. Pharmaceutical 4.11.4. Cosmetics 4.11.5. Biodiesel 4.11.6. Others 22.214.171.124.1. South Africa 126.96.36.199.2. GCC 188.8.131.52.3. Egypt 184.108.40.206.4. Nigeria 220.127.116.11.5. Rest Of ME&A 4.12. Latin America Soybean Oils Market 4.12.1. Latin America Soybean Oils Market, by Application 4.12.2. Food 4.12.3. Pharmaceutical 4.12.4. Cosmetics 4.12.5. Biodiesel 4.12.6. Others 18.104.22.168.1. Brazil 22.214.171.124.2. Argentina 126.96.36.199.3. Rest Of Latin America 188.8.131.52.4. 4.13. Global Soybean Oils Market, by Distribution Channel 4.13.1. Supermarkets/Hypermarkets 4.13.2. Convenience Stores 4.13.3. Others 4.14. North America Soybean Oils Market 4.14.1. North American Soybean Oils Market, by Distribution Channel 4.14.2. Supermarkets/Hypermarkets 4.14.3. Convenience Stores 4.14.4. Others 184.108.40.206.1. United States 220.127.116.11.2. Canada 18.104.22.168.3. Mexico 4.15. European Soybean Oils Market 4.15.1. European Soybean Oils Market, by Distribution Channel 4.15.2. Supermarkets/Hypermarkets 4.15.3. Convenience Stores 4.15.4. Others 22.214.171.124.1. UK 126.96.36.199.2. France 188.8.131.52.3. Germany 184.108.40.206.4. Italy 220.127.116.11.5. Spain 18.104.22.168.6. Sweden 22.214.171.124.7. Austria 126.96.36.199.8. Rest Of Europe 4.16. Asia Pacific Soybean Oils Market 4.16.1. Asia Pacific Soybean Oils Market, by Distribution Channel 4.16.2. Supermarkets/Hypermarkets 4.16.3. Convenience Stores 4.16.4. Others 188.8.131.52.1. China 184.108.40.206.2. India 220.127.116.11.3. Japan 18.104.22.168.4. South Korea 22.214.171.124.5. Australia 126.96.36.199.6. ASEAN 188.8.131.52.7. Rest Of APAC 4.17. The Middle East and Africa Soybean Oils Market 4.17.1. The Middle East and Africa Soybean Oils Market, by Distribution Channel 4.17.2. Supermarkets/Hypermarkets 4.17.3. Convenience Stores 4.17.4. Others 184.108.40.206.1. South Africa 220.127.116.11.2. GCC 18.104.22.168.3. Egypt 22.214.171.124.4. Nigeria 126.96.36.199.5. Rest Of ME&A 4.18. Latin America Soybean Oils Market 4.18.1. Latin America Soybean Oils Market, by Distribution Channel 4.18.2. Supermarkets/Hypermarkets 4.18.3. Convenience Stores 4.18.4. Others 188.8.131.52.1. Brazil 184.108.40.206.2. Argentina 220.127.116.11.3. Rest Of Latin America 4.19. Company Profile: Key Players 4.19.1. Sinar Mas Agro Resources & Technology Tbk. 18.104.22.168. Company Overview 22.214.171.124. Financial Overview 126.96.36.199. Global Presence 188.8.131.52. Type Portfolio 184.108.40.206. Business Strategy 220.127.116.11. Recent Developments 4.19.2. Vicentin S.a.i.c. 4.19.3. Aceitera General Deheza 4.19.4. Sime Darby Plantation Berhad 4.19.5. Nisshin Oillio Group 4.19.6. The Graincorp Oilseeds 4.19.7. Adani Wilmar 4.19.8. Cargill, Belgium 4.19.9. Louis Dreyfus Company Brasil 4.19.10. Kaneka Corporation 4.19.11. Fortune by Adani Group 4.19.12. Emami 4.19.13. Fortune by Adani Group 4.19.14. Sundrop by Agro Tech Foods