Pune, India, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The global soybean oil market represents a substantial segment of the global vegetable oil industry, driven primarily by its versatile applications in cooking, food production, and various industrial sectors. It is renowned for its high smoke point, neutral flavor, and heart-healthy profile, owing to its rich composition of unsaturated fats. Key factors influencing this market include fluctuations in soybean crop yields due to weather conditions, geopolitical trade tensions affecting soybean exports, and evolving consumer preferences towards healthier dietary choices. Sustainability considerations have also emerged as a critical factor, with increasing demand for responsibly sourced soybeans and environmentally friendly production practices. As consumers become more health conscious and environmentally aware, the soybean oil market continues to adapt to these changing dynamics, making it a fascinating and evolving sector to watch in the broader agribusiness landscape.
The global soybean oil market size was USD 46.72 billion in 2020 and is projected to grow from USD 48.16 billion in 2021 to USD 60.08 billion by 2028, exhibiting a CAGR of 3.21% during the forecast period of 2021-2028.
Fortune Business Insights™ displays this information in a report titled, "Soybean Oil Market, 2023-2028."
Get a Sample Research PDF:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/soybean-oil-market-106282
Leading Players Featured in the Soybean Oil Market Research Report:
- Archer Daniels Midland Company (Illinois, U.S.)
- Associated British Foods, plc (London, U.K.)
- Bunge (Missouri, U.S.)
- Cargill, Inc. (Minnesota, U.S.)
- Louis Dreyfus Company (Rotterdam, Netherlands)
- Wilmar International Limited (Singapore)
- DuPont (Delaware, U.S.)
- Unilever plc (London, U.K.)
- AMAGGI Group (Cuiaba, Brazil)
- SunOpta, Inc. (Brampton, Canada)
Report Scope & Segmentation:
| Report Attribute | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 3.21% |
| 2028 Value Projection | USD 60.08 Billion |
| Soybean Oil Market Size in 2021 | USD 48.16 Billion |
| Historical Data | 2017-2019 |
| No. of Pages | 186 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Soybean Oil Market Drivers | Increasing Utilization in Production of Biofuel to Drive Market Growth |
| Expanding Application Scope in Food Sector to Fuel Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/soybean-oil-market-106282
Report Coverage:
Our reports are processed with a comprehensive analysis approach that primly accentuates on supplying specific material. Our scholars have employed a data evaluation approach, which further aids us to offer dependable assessments and test the overall market dynamics precisely. Further, our experts have received admittance to several international as well as locally sponsored records for providing up-to-date information in order for the stakeholders and business experts to invest only in fundamental areas.
Segmentation:
On the basis of application, the market is segregated into Cooking & Frying, Margarine & Shortening, Salad Dressings & Mayonnaise, Bakery Products, and Non-Food Applications.
Geographically, the market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Drivers and Restraints:
Extending Food Usage of Soybean Oil to Foster Market Growth
Oils and fats sector is perceiving ensuring growth throughout the world accredited to their growing usage in food manufacturing and processing. As per the USDA, this type of oil is the second-biggest ingested vegetable oil in the globe. It is expansively used for frying, cooking, shortenings, and margarines. Soybean oil utilization has also amplified across bakery sector, which substantially drives the soybean oil market growth.
However, the market is hugely impacted by the obtainability of several other oilseeds that can be utilized as a substitute or an alternative for this oil. Moreover, the rising consciousness concerning nutritional and healthy oils such as olive oil among users has substantially impacted the utilization of soy oil across retail passages.
Get a Quote Now:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/soybean-oil-market-106282
COVID-19 Impacts:
Disorder in Supply Chain of Product to Impede Market Growth during COVID-19 Pandemic
The spread of the COVID-19 pandemic and global lockdown procedures have resulted in a minor influence on soybeans. Nevertheless, soy oil, one of the prime by-products of soybean processing, has fronted a reduced ingestion, primarily owing to the effect of the pandemic on foodservice sector, which is a most extensive user of vegetables. Similarly, as the fuel demand compacted, biodiesel usage and other soybean oil products also deteriorated.
Regional Insights:
Speedily surging markets in Asia Pacific such as China and India have considerably augmented soy oil ingestion over the last few years. The amplified buying power of Chinese and Indian users has contributed to striking rises in usage as they can afford to buy extensive amount of oil. Asia Pacific held the largest soybean oil market shares in 2020.
This market is observing encouraging growth in North America. The U.S. is the principal consumer of soy oil owing to the quickest developing and escalating food processing industry.
South America is undergoing substantial growth in this market as Brazil and Argentina are prominent producers and exporters of soy oil.
Competitive Landscape:
Acquisitions and Mergers to Assist Vital Players Foster in Market
Important players in the market employ effective tactics along with the guidance from their expert advisors to regulate majority shares in the market and institute a brand name for their company. One such approach to commercialize their brand name is to acquire other corporations to receive additional fiscal achievements.
Ask for Customization:
https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/soybean-oil-market-106282
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Impact of COVID-19 on the Vegetable Oils Market
- Global Soybean Oil Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Application
- Traditional Retailers
- Supermarkets/Hypermarkets
- Online Retail
- Others
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Application
- North America Soybean Oil Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Application
- Cooking & Frying
- Margarine & Shortening
- Salad Dressing & Mayonnaise
- Bakery Products
- Non-food Applications (Animal Feed, Biodiesel)
- By Country (Value)
- U.S.
- By Application (Value)
- Cooking & Frying
- Margarine & Shortening
- Salad Dressing & Mayonnaise
- Bakery Products
- Non-food Applications
- By Application (Value)
- Canada
- By Application (Value)
- Cooking & Frying
- Margarine & Shortening
- Salad Dressing & Mayonnaise
- Bakery Products
- Non-food Applications
- By Application (Value)
- Mexico
- By Application (Value)
- Cooking & Frying
- Margarine & Shortening
- Salad Dressing & Mayonnaise
- Bakery Products
- Non-food Applications
- By Application (Value)
- U.S.
- By Application
- Europe Soybean Oil Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Application
- Cooking & Frying
- Margarine & Shortening
- Salad Dressing & Mayonnaise
- Bakery Products
- Non-food Applications (Animal Feed, Biodiesel)
- By Country (Value)
- U.K.
- By Application (Value)
- Cooking & Frying
- Margarine & Shortening
- Salad Dressing & Mayonnaise
- Bakery Products
- Non-food Applications
- By Application (Value)
- Germany
- By Application (Value)
- Cooking & Frying
- Margarine & Shortening
- Salad Dressing & Mayonnaise
- Bakery Products
- Non-food Applications
- By Application (Value)
- U.K.
- By Application
TOC Continued...!
Speak to Our Expert:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/soybean-oil-market-106282
Industry Developments:
April 2021: Cargill, Inc. delared to capitalize USD 25 million to extend its actions of soybean crush factory based in Fayetteville to augment soybean oil manufacturing.
Read Related Insights:
Soy Derivatives Market to Reach USD 344.05 Billion by 2028; Rising Fortification of Various Products to Accelerate Growth, says Fortune Business Insights™
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner,
Mahalunge Road, Baner, Pune - 411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Follow Us: LinkedIn | Facebook | Twitter
Attachment
