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The global soybean oil market reached a volume of 57.3 Million Tons in 2020.
The extensive usage of soyabean oil in the preparation of sauces, dressings, margarine, shortening, mayonnaise, potato chips, non-dairy creamers, whipped toppings, etc., is one of the factors catalyzing the global soybean oil market.
Sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of soybean oil.
Based on the end-use, the global soybean oil market can be bifurcated into food, industrial usage, and animal feed. Among these, the food sector currently holds the majority of the total market share.
On a regional level, the market has been classified into United States, China, Brazil, Argentina, Europe, India, and others, where China currently dominates the global market.
Some of the major players in the global soybean oil market include ADM, Bunge, Cargill, Louis Dreyfus, Wilmar, etc.
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