The Global Soybean Oil Market is estimated to be USD 52.85 Bn in 2023 and is expected to reach USD 68.13 Bn by 2028 growing at a CAGR of 5.21%.The growing popularity of convenient and processed food products
Soybean oil is derived from soya plants and can be used in various dishes and recipes. To extract the oil, soybeans are processed in a refinery using a catalytic cracker. The produced oil is sold as soybean oil, while the byproduct is converted into soybean meals as soya chunks or granules. Soybean oil contains omega-3 fatty acids and vitamin E, aiding bodily maintenance. Soybean oil is used in baking, frying, cooking, salad garnishing, resins, mastics, plastics, caulks, biodiesel, pesticides, animal feed, drying oil, and the paint industry as a raw ingredient.
Nowadays, soybean oil is generally desired among customers suffering from excessive cholesterol, obesity, and cardiovascular disease since it helps to regulate cholesterol, strengthens the immune system, reduces cognitive dysfunction, and is also beneficial in maintaining good skin. Furthermore, it is favored by food manufacturers to meet customers' needs for highly nutritional food products.
Research and development in the soybean oil market have aided in creating new applications for soybean oil. The manufacturers discovered new varieties of seed with increased nutrition and other advantages. Seed firms created high oleic soybeans to provide trans-fat-free soybean oil with higher nutritional benefits than ordinary soybeans. Furthermore, manufacturers have been focused on developing new biodiesels made from soybean oil that can be used as an alternative to fossil fuels. The most popular method for manufacturing biodiesel from vegetable oils and animal fats involves using methanol or ethanol as a catalyst in the presence of sodium hydroxide.
However, the availability of low-cost alternatives from local businesses and competition from other oils such as rice bran, sunflower, and olive oil impede market expansion. Apart from this, high consumption of this oil causes side effects such as it contains aflatoxins whose overconsumption can cause a negative impact on health; also, it can be pro-inflammatory depending on the consumption, etc., which poses challenges to the market.
Market Segmentations
- The Global Soybean Oil Market (2023-2028) by Type, Distribution Channel, Application, End User, and Geography.
- By Type, the market is classified into Processed and Virgin. The processed oil type segment has the highest share as it is made through refining, which removes impurities and gives the oil a neutral flavor and color. Processed soybean oil has a high smoke point, so it can be heated to high temperatures without smoking or burning. This makes it a good choice for frying and sauteing, where high heat is required.
- By Distribution Channel, the market is classified into Retail, Supermarkets, Specialty Stores, and Online. The online segment is growing with the highest CAGR due to the easy availability of the product and discounts offered on online platforms.
- By End User, the market is classified into Household and Commercial. The household segment holds the largest market share as soybean oil is highly used in household applications such as frying, sauteing, baking, salad dressings, etc.
- By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific. The Americas has the largest share as the region is the largest producer of soy crops.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Adani Group, Cargill, Patanjali, IB Group, etc.Countries Studied
- America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of the Americas)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Ansoff Analysis
- The report presents a detailed Ansoff matrix analysis of the Global Soybean Oil Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
- The publisher analyses the Global Soybean Oil Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
- Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Soybean Oil Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
- Excel data sheet for the market size will also be provided with the report.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
- The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
- The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.
Report Highlights:
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
- Market segmentation
- Competitive Analysis: Comparative analysis of competitor
- Historical, current, and projected size of the market based on value and volume
- Market size of the US states
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Market Analysis
6 Global Soybean Oil Market, By Type
7 Global Soybean Oil Market, By Distribution Channel
8 Global Soybean Oil Market, By End User
9 Americas' Soybean Oil Market
10 Europe's Soybean Oil Market
11 Middle East and Africa's Soybean Oil Market
12 APAC's Soybean Oil Market
13 Competitive Landscape
14 Company Profiles
15 Appendix
Companies Mentioned
- Adani Group
- Ajanta Soya Ltd
- Archer Daniels Midland Company
- Bunge Ltd.
- Cargill, Inc.
- COFCO International
- Conagra Brands, Inc.
- Godrej Agrovet Ltd.
- Gokul Agro Resource Ltd.
- Gokul Refoils & Solvents Ltd.
- Golden Agri-Resources Ltd.
- IB Group
- Kanematsu Corp
- Le Group Industries, LLC
- Louis Dreyfus Company B.V.
- Mother Dairy Fruit & Vegetable Pvt. Ltd.
- Patanjali Foods Ltd.
- Southern Oil (Pty) Ltd
- Vigon International, LLC.
- Wilmar International Ltd
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 212 |
Published | February 2024 |
Forecast Period | 2023 - 2028 |
Estimated Market Value ( USD | $ 52.85 Billion |
Forecasted Market Value ( USD | $ 68.13 Billion |
Compound Annual Growth Rate | 5.2% |
Regions Covered | Global |
No. of Companies Mentioned | 20 |