According to IMARC Group’s latest report, titled “Soybean Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the soybean oil market growth.
The global soybean oil market size reached 58.5 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 67.1 Million Tons by 2027, exhibiting a growth rate (CAGR) of 2.17% during 2022-2027. Soybean oil is a pale yellow, dried, or semi-dried edible oil produced by dehulling, crushing, refining, and distilling soybean seeds to remove contaminants. It is rich in omega-3 fatty acids, plant sterols, and proteins. These nutrients reduce low-density lipoprotein (LDL) cholesterol, treat osteoarthritis, and improve heart health, skin texture, and eye condition. Additionally, soybean oil has a neutral taste, high smoke point, and low saturated and trans fat levels; therefore, it is extensively employed in baking, frying, cooking, and garnishing salads. Apart from this, soybean oil finds extensive applications in resins, caulks, mastics, plastics, biodiesel, insecticides, animal feed, drying oil, and paints.
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Soybean Oil Market Trends:
The shifting consumer inclination towards healthy oils, such as soybean oil, with no trans and low saturated fats is primarily driving the market growth. Moreover, the escalating product demand from the food and beverage (FB) industry for preparing ready-to-eat (RTE) meals, including salad dressings, sauces, and baked goods, is favoring the market growth. Additionally, governments of several nations are funding the integration of soybean oil in the production of biodiesel as a sustainable alternative to petrochemicals, which, in turn, is impelling the market growth. Besides this, the large-scale incorporation of soybean oil in animal feed, pharmaceutical, and personal care products, the increasing yield of soy crops, and the easy availability of the oil across multiple distribution channels are contributing to the market growth.
Soybean Oil Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the soybean oil market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Archer Daniels Midland Company
- Bunge Limited
- Cargill, Incorporated
- Louis Dreyfus Company B.V.
- Wilmar International Limited
Key Market Segmentation:
The report has segmented the global soybean oil market on the basis of end-use and region.
Breakup by End-Use:
- Food
- Feed
- Industrial
Breakup by Region:
- China
- United States
- Brazil
- Europe
- Argentina
- India
- Others
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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