The global soybean oil market reached a volume of 57.3 Million Tons in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global soybean oil market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region and end-use.
Breakup by End-Use:
Based on end-use, the report finds that food industry currently represents the largest end-use segment of soybean oil, followed by feed and industrial usage. 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:
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.
The global soybean oil market reached a volume of 57.3 Million Tons in 2020.
As per IMARC Group’s estimates, the global soybean oil market is expected to exhibit moderate growth during the next five years.
On account of the increasing prevalence of chronic diseases and changing lifestyles, individuals are increasingly preferring soybean oil. This can also be accredited to the health benefits associated with its consumption, including improving immunity, reducing the risk of osteoporosis, managing heart health, boosting skin and eye health and lowering cholesterol levels.
The rising health consciousness among individuals and the increasing applications of soybean oil in the production of resins, plastics, animal feed, caulks, mastics, biodiesel and insecticides are among the major factors driving the market growth.
Due to the spread of the coronavirus disease (COVID-19), consumer focus has shifted toward the consumption of nutrient-rich food items for boosting immunity, such as soybean oil, which is projected to act favorably for market growth. However, the lockdowns imposed by governments to curb the spread of the pandemic have disrupted the global soybean trade, in turn, influencing the import and export scenario for the soybean oil market.
On the basis of end use, the market has been categorized into the food, feed and industrial.
On the geographical front, the market has been segmented into the United States, China, Brazil, Argentina, Europe, India and others.
The leading soybean oil producers are Archer Daniels Midland Company, Bunge Limited, Louis Dreyfus Company B.V., Wilmar International Limited and Cargill, Incorporated.
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