On the flip side, in the non-food sector, soybean oil is used for making caulks, resins, animal feed, and biodiesel. In addition, various soybean oil markets now have demonstrated that edible oil has multiple functional properties; as such, it is used in numerous food and non-food applications. According to the publisher, Worldwide Soybean Industry is anticipated to grow with a CAGR of 4.4% during 2021-2027.
COVID-19 Impact on the Global Soybean Oil Industry:
The global soybean oil market has exhibited moderate growth, even though the demand for biofuel had reduced due to the COVID-19 pandemic. Further, the soybean oil market indicates steady growth, despite the COVID-19 pandemic cut demand for biofuel. The competitive price of soybean oil against the cost for sunflower and palm oil and the potential increase in demand for biofuels and increasingly robust environmental standards signal real prospects for further developing the soybean oil market during the forecasted period.
Global Soybean Oil Market Size was US$ 62.16 Billion in 2021
Consumers have been suffering from health-related issues such as high cholesterol, obesity, and cardiovascular diseases (CVD), including soybean oil in their diet regime, in recent years. Rising health consciousness has exploited consumers to shift from ready-to-eat (RTE) items to homemade products, further bolstering the demand for soybean oil. Soybean oil is relatively cheaper than other edible oils, including canola oil, olive oil, groundnut oil, and coconut oil. Further, soybean oil is commonplace in price-sensitive markets, especially in developing regions.
Worldwide Soybean Oil Consumption and Production Trends:
Soybean oil is amongst the most popular vegetable oil globally, with China driving the top consuming and producing countries. Remarkably, China is the major soybean oil-consuming country, with its main end-use application being for food use. Moreover, the growing population and soybean acreage resulting from the government-led initiatives is further expected to increase soybean oil production in China. Similarly, in the United States, soybean production allows for a moderate rise in domestic consumption. Additionally, the growth of the United States soybean oil industry is likely to slow over the forecasted period, as it is expected to face stronger foreign competition, and the farmers in the region are shifting their acreage into feed grains.
Global Soybean Oil Export Analysis:
In our report, we have analyzed the export market of Argentina, Brazil, the United States, the European Union, Paraguay, Russia, and Bolivia. Globally, the soybean oil export market for Argentina, Brazil, European Union, Russia, and Bolivia is expected to witness a consecutive increase during the forecasted period. The increased soybean supply and tightened supply in the other vegetable oils, mainly the rapeseed oil market, are the major factors driving the export market for the countries, mentioned above.
Competitive Landscape of Global Soybean Oil Market:
The global soybean oil market is converged, with the significant players holding a substantial share in the market. The versatility of soybean oil is anticipated to emerge as an opportunity to attract many manufacturers in the food products industry across the world. In our report, the global soybean oil market consists of several primary and regional players engaged in the soybean oil industry. The major players in the market covered in our report are Kerry Group and Fuji oil company, Archer Daniels Midland, Cargill Foods, CHS Inc, Adam Group, SunOpta Inc., Pulmuone Co. Ltd, House Foods Group Inc., and Bunge Limited.
This new report titled “Soybean Oil Market & Volume, Global Forecast By Consumption (China, United States, Brazil, India, European Union, Argentina, Bangladesh, Mexico, Others), Production (China, United States, Brazil, Argentina, European Union, India, Mexico and Others), Import (India, China, Algeria, Bangladesh, Morocco, Peru, European Union, South Korea, Columbia, Others), Export (Argentina, Brazil, United States, European Union, Paraguay, Russia, Bolivia, Others), Company Analysis (Kerry Group and Fuji oil company, Archer Daniels Midland, Cargill Foods, CHS Inc, Adam Group, SunOpta Inc., Pulmuone Co. Ltd, House Foods Group Inc., and Bunge Limited)” provides a complete analysis of Worldwide Soybean Industry.
Countries - Market we have covered the market with 9 viewpoints:
- China
- United State
- Brazil
- India
- European Union
- Argentina
- Banglades
- Mexico
- Other
Production - Market we have covered the market with 8 viewpoints:
- China
- United States
- Brazil
- Argentina
- European Union
- India
- Mexico
- Others
Import - Market we have covered the market with 10 viewpoints:
- India
- China
- Algeria
- Bangladesh
- Morocco
- Peru
- European Union
- South Korea
- Columbia
- Others
Export - Market we have covered the market with 8 viewpoints:
- Argentina
- Brazil
- United States
- European Union
- Paraguay
- Russia
- Bolivia
- Others
Company Insights:
- Business overview
- Recent Development
- Sales Analysis
Key Players Analysis:
- Kerry Group
- Fuji oil company
- Archer Daniels Midland
- Cargill Foods
- CHS Inc
- Adam Group
- SunOpta Inc.
- Pulmuone Co. Ltd
- House Foods Group Inc.
- Bunge Limited
What is the estimated value of the Global Soybean Oil Market?
What is the growth rate of the Global Soybean Oil Market?
What is the forecasted size of the Global Soybean Oil Market?
Who are the key companies in the Global Soybean Oil Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 230 |
| Published | February 2022 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value ( USD | $ 62.16 Billion |
| Forecasted Market Value ( USD | $ 80.48 Billion |
| Compound Annual Growth Rate | 2.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
Table of Contents
Companies Mentioned
- Kerry Group
- Fuji oil company
- Archer Daniels Midland
- Cargill Foods
- CHS Inc
- Adam Group
- SunOpta Inc.
- Pulmuone Co. Ltd
- House Foods Group Inc.
- Bunge Limited
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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