Soybean Oil Market Growth, Size, Share, Trends, and Forecast 2032

According to the report published by Zion Market Research, the global Soybean Oil Market size was valued at USD 53.42 Billion in 2023 and is predicted to reach USD 78.23 Billion by the end of 2032. The market is expected to grow with a CAGR of 4.45% during the forecast period. The report analyzes the global Soybean Oil Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Soybean Oil Market industry.

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Global Soybean Oil Market: Overview

Soybean oil finds massive application in household cooking activities as well as restaurants. The oil is used in preparing of margarine and shortenings. The product has become popular due to its emulsification property as well as low-calorie contents. The soybean oil does not comprise of trans-fat and has low saturated fats, thereby making it a major choice among other types of oils.

It is considered to be one of the best cooking oils good for health due to the presence of the key ingredients such as omega-3 fats, vitamin E, low saturated fats, and polyunsaturated fats in the product.

Global Soybean Oil Market: Growth Factors

The soybean oil industry is projected to experience a lucrative surge over the ensuing years due to escalating food demand, inflating population, expansion of the retail network, swift urbanization, and rising soy crop harvest.  Apart from this, the product offers massive health benefits such as reducing levels of cholesterol & obesity, raising the levels of immunity, minimizing cognitive & cardiac diseases, and preventing osteoporosis. Additionally, the product also finds myriad application in industrial paints, adhesives, biocomposites, oleochemicals, cleaners, biodiesel, and solvents. Nonetheless, easy availability of the product substitutes including olive oil, sunflower oil, palm oil, rapeseed oil, and rice bran is predicted to inhibit the market demand in the near future. However, the rise in the number of health-conscious customers will generate huge demand for the product, thereby creating lucrative growth avenues for the soybean oil market in the upcoming years.

Moreover, the high lipid contents of soybean oil along with its lubricating features make its application an ideal choice in fermentation & drilling process. In addition to this, low product costs, easy availability, and eco-friendly characteristics make it a key part of bio-based items.

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Global Soybean Oil Market: Segmentation

The overall soybean oil market can be classified based on raw material, application, distribution channel and end-use.

Based on the raw material, the industry is segregated into organic and conventional soybean oils.

Application wise, the market is divided into nutraceutical, rubber, paints & coatings, plastics, pharmaceutical, and biodiesel.

On the basis of the distribution channel, the market for soybean oil is sectored into departmental stores, supermarkets, convenience stores, and hypermarkets.

In terms of end-use, the industry is segmented into commercial and households.

Soybean Oil Market : Report Scope

Global Soybean Oil Market: Regional Analysis

Based on regions, the overall soybean oil market can be divided into five main regions: Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. Regionally, Asia Pacific is projected to make lucrative contributions towards the overall market growth during the estimated timeline. The regional growth can be credited to escalating demand for soybean oil for cooking purpose in households as well as in the fast-food sector. Moreover, inflating urban populace & rise in the number of health-conscious customers in countries like India, Japan, and China will proliferate product penetration in the Asia Pacific region.

Furthermore, the North American market is slated to witness a humungous surge over the forthcoming years due to the presence of countries like the U.S., a leading soybean oil producer in the region.

Global Soybean Oil Market: Competitive Players

Some of the key players in soybean oil industry include:

• Bunge
• Cargill Foods Incorporated
• AGRO FOOD GROUP
• Louis Dreyfus
• Ruchi Soya Industries Limited
• LE GROUP INDUSTRIES
• Granol
• FEDIOL
• ADM
• Aceitera General Deheza
• Harvest Brand
• IB Group
• Wilmar International Ltd.

The Global Soybean Oil Market is segmented as follows:

By Raw material 

• organic
• conventional soybean oils 

By Application 

• nutraceutical 
• rubber
• paints & coatings
• plastics 
• pharmaceutical
• biodiesel 

By Distribution channel 

• departmental stores 
• supermarkets
• convenience stores
• hypermarkets 

By End-use 

• commercial
• households 

Global Soybean Oil Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • The UK
  • France
  • Germany
• The Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.