The global soybean oil market reached a volume of 49.7 Million Tons in 2018, registering a CAGR of 1.9% during 2011-2018. The market is projected to reach a volume of 56.6 Million Tons by 2024, growing at a CAGR of 1.8% during 2019-2024. Soybean oil refers to a clear yellow vegetable oil which is extracted from the seeds of soybean. It is a rich source of essential nutrients like vitamins, proteins, fatty acids and plant sterols. As a result, soybean oil helps in improving immunity, preventing osteoporosis, managing heart health, boosting skin and eye health, lowering cholesterol levels, and reducing the threat of cognitive disorders. Over the years, soybean oil has become a preferred choice for cooking in households and restaurants due to its neutral taste, high smoke point and negligible saturated fat content.
Global Soybean Oil Market Drivers:
- One of the major factors driving the demand for soybean oil worldwide is its affordable price. Soybean oil is relatively less expensive than most other edible oils such as olive oil, canola oil, coconut oil, and groundnut oil. As a result, it is immensely popular in price sensitive markets, particularly in the developing regions.
- Nowadays, consumers who suffer from health-conditions like obesity, high cholesterol and cardiovascular diseases are incorporating soybean oil in their food. Increasing health-consciousness has created a shift from ready-to-eat (RTE) products to home cooked items which is further catalyzing the growth of the soybean oil market.
- Apart from its health benefits, soybean oil has various functional properties on account of which it is employed in several food and non-food applications. In the food industry, soybean oil is used in the preparation of sauces, dressings, margarine, shortening, mayonnaise, potato chips, non-dairy creamers and whipped toppings. On the other hand, in the non-food industry, soybean oil is utilized for manufacturing resins, caulks, mastics, plastics, biodiesel, insecticides and animal feed.
- Soybean oil is produced in countries ranging from China to the United States. As a result of its wide availability, coupled with its relatively low price, soybean oil represents a sustainable replacement for petrochemicals and known carcinogens in various industrial applications.
Breakup by End-Use:
Based on end-use, the report finds that food currently represents the largest end-use segment of soybean oil, followed by industrial usage and animal feed. Soybean oil is mostly used for frying, baking and as a condiment in salads.
On a geographical front, China enjoys the leading position in the global soybean oil market on account of the constantly increasing population in the region. It is extensively used in the preparation of dishes like tofu, miso, tempeh, poached fish, deep-fried pork ribs, etc. China is followed by the United States, Brazil, Argentina, Europe and India.
The competitive structure of the soybean oil market has also been analyzed and has been found to be concentrated in nature. Some of the largest players operating in the market include:
- Louis Dreyfus
This report provides a deep insight into the global soybean oil industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a soybean oil manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the soybean oil industry in any manner.
Key Questions Answered in This Report:
- How has the global soybean oil market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global soybean oil market?
- What are the major end-use segments in the global soybean oil market?
- What are the price trends of soybean oil?
- What are the various stages in the value chain of the global soybean oil market?
- What are the key driving factors and challenges in the global soybean oil market?
- What is the structure of the global soybean oil market and who are the key players?
- What is the degree of competition in the global soybean oil market?
- What are the profit margins in the global soybean oil market?
- What are the key requirements for setting up a soybean oil manufacturing plant?
- How is soybean oil manufactured?
- What are the various unit operations involved in a soybean oil manufacturing plant?
- What is the total size of land required for setting up a soybean oil manufacturing plant?
- What are the machinery requirements for setting up a soybean oil manufacturing plant?
- What are the raw material requirements for setting up a soybean oil manufacturing plant?
- What are the packaging requirements for soybean oil?
- What are the transportation requirements for soybean oil?
- What are the utility requirements for setting up a soybean oil manufacturing plant?
- What are the manpower requirements for setting up a soybean oil manufacturing plant?
- What are the infrastructure costs for setting up a soybean oil manufacturing plant?
- What are the capital costs for setting up a soybean oil manufacturing plant?
- What are the operating costs for setting up a soybean oil `manufacturing plant?
- What will be the income and expenditures for a soybean oil manufacturing plant?
- What is the time required to break-even?