Soybean Oil Market

With the rising consciousness among the individuals to improve their health and improve the functioning of vital bodily organs, there is a huge demand and supply of soybean oil all around the globe. Soybean oil provides a range of health benefits such as maintaining the healthy bodily weight, diminishing ratio of cholesterol and overweight and improve the functioning of the immunity system.                                          

Data Bridge Market Research analyses that the soybean oil market is expected to undergo a CAGR of 4.40% during the forecast period. This indicates that the market value, which was USD 48.77 billion in 2021, would rocket up to USD 68.83 billion by 2029. “Organic Soybean Oil” dominates the product type segment of the soybean oil market owing to the rising consumer awareness regarding the benefits of organic beverages and growing diabetic population.  The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

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Some of the major players operating in the soybean oil market are:

• DSM (Netherlands)
• ADM (US)
• DuPont (US)
• Cargill Incorporated. (US)
• CHS Inc. (US)
• Kerry Group plc (Ireland)
• Wilmar International Ltd (Singapore)
• The Nisshin OilliO Group, Ltd. (Japan)
• Ruchi Soya Industries Ltd. (India)
• Ag Processing Inc. (US)
• Devansoy Inc. (US)
• Blue Diamond Growers (US)
• Dean Foods (US)
• Eden Foods Inc. (US)
• House Foods America Corporation. (US)
• The Hain Celestial Group (US)
• Pulmuone Foods USA (US)
• Vitasoy International Holdings Limited. (Hong Kong)
• Tofurky (US)   

Global Soybean Oil Market Scope

The soybean oil market is segmented on the basis of product type, application, ingredients, end user, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product type

• Organic Soybean Oil
• Conventional Soybean Oil

On the basis of product type, the soybean oil market is segmented into organic soybean oil, and conventional soybean oil.

Application

• Margarine
• Frozen Foods
• Salad Dressings
• Shortenings
• Baked Food
• Cosmetics and Personal Care Products
• Animal Agriculture
• Others

On the basis of application, the soybean oil market is segmented into margarine, frozen foods, salad dressings, shortenings, baked food, cosmetics and personal care products, animal agriculture others.

Ingredients

• Omega-3 Fats
• Vitamin E
• Low Saturated Fats
• Polyunsaturated Fats

On the basis of ingredients, the soybean oil market is segmented into omega-3 fats, vitamin E, low saturated fats, and polyunsaturated fats.

Distribution channel

• Supermarket/Hypermarket
• Convenience Stores
• Wholesaler/Distributor
• Neighbourhood Stores

On the basis of distribution channel, the soybean oil market is segmented into supermarket/hypermarket, convenience stores, wholesaler/distributor, and neighborhood stores.

End user

• Commercial
• Household

On the basis of end user, the soybean oil market is segmented into commercial and household

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Soybean Oil Market Dynamics

Drivers

• Rising prevalence of obesity

Growing population base of overweight and obese individuals globally is one of the major factor fostering the growth of the market. One of the biggest reasons for the same is the high consumption rate of junk and unhealthy food. India, Germany, China, United States and United Kingdom have the highest obese population base in the world. Soybean oil helps to increase the metabolism which in turn helps in burning the bad fat in the body.  

• Research and development proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies will further create lucrative market growth opportunities. Research and development proficiencies being conducted to study the effects of soybean on the immunity system is also bolstering the market growth rate.

• Growing awareness about the benefits

Surging awareness about the benefits of soybean oil is fostering the growth of the market. Soybean oil is increasingly being used in other applications such as utilization in manufacturing paints, sealants, bio composites, bio-diesel, and catalysts. This is yet another important market growth determinant.   

Opportunities

Furthermore, upsurge in the public-private funding for target research activities, changing lifestyle of individuals, growing prevalence of diabetes, rising geriatric population base and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rising personal disposable income, growing awareness about the harmful impact of junk food and growing demand for variety of cooking oils will further expand the market's growth rate in the future. 

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