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. 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.

Global Soybean Oil Industry 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.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global soybean oil market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on and end-use.

Breakup by End-Use:

Food
Feed
Industrial

Based on end-use, the report finds that food industry currently represents the largest end-use segment of soybean oil. Soybean oil is mostly used for frying, baking and as a condiment in salads.

Regional Insights:

China
United States
Brazil
Europe
Argentina
India
Others

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.

Competitive Landscape:
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:

Archer Daniels Midland Company
Bunge Limited
Cargill, Incorporated
Louis Dreyfus Company B.V.
Wilmar International Limited

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
1. What is the size of the global soybean oil market?
2. What are the key factors driving the global soybean oil market?
3. What has been the impact of COVID-19 on the global soybean oil market?
4. What is the breakup of the global soybean oil market based on the end-use?
5. What are the key regions in the global soybean oil market?
6. Who are the key companies/players in the global soybean oil market?