Global Soybean Oil Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Soybean Oil Market: Overview
"The Soybean Oil Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Soybean oil is a vegetable derived from soybeans, known as Glycine max. Soybean is a legume that is native to the East Asia region. Soybean oil is one of the healthier oils among other vegetable oils.
Soybean oil decreases the risk of heart conditions such as heart attacks, strokes, osteoporosis, and arthritis. It provides healthy fatty acids to the body and also regulates cholesterol levels. Soybean oil contains omega-3 fatty acids that help to protect the cell membrane. It also helps to boost immunity and improves the health of the eyes and skin.
A key factor driving the growth of the global soybean oil market is rising awareness regarding the health benefits of soybean oil among consumers. The increasing use of soybean oil in pharmaceuticals, nutraceuticals, and plastic and rubber industries is fueling the growth of the target market. Furthermore, the growing retail sector coupled with rising disposable income are factors expected to support the growth of the global soybean oil market shortly.
However, individuals with soybean allergies cannot consume soybean oil. This factor may hamper the growth of the global soybean oil market. In addition, the availability of alternatives to soybean oil is a factor that could affect the growth of the global market. Nevertheless, a growing application of soybean oil can create high revenue opportunities for players in the target market.
Global Soybean Oil Market: Segment Analysis
Among the raw material segment, the organic segment is anticipated to register lucrative growth in terms of revenue shortly. Increasing preference for organic products among consumers is a factor supporting the growth of this segment in the target market.
Among the application segments, the food segment is expected to register high growth in terms of revenue over the forecast period. Increasing the use of soybean oil in salad dressings, bakery products, cooking, mayonnaise, etc. is a factor driving the growth of the food segment in the global market. In addition, increasing its adoption for its health benefits is another factor expected to propel the growth o this segment shortly.
Global Soybean Oil Market: Regional Analysis
US is a major producer of soybean oil in North America followed by Brazil, Argentina, China, and India. Currently, the market in North America and Asia Pacific accounts for major share in terms of revenue in the global market. Presence of key players and high production of soybean oil in US is a factor fueling growth of the target market in North America. Presence of prominent soybeans oil-producing countries such as China and India is a key factor driving growth of the target market in Asia Pacific region. Increasing health consciousness among individuals and growing urban population are factors expected to support the soybean oil market growth in this region. The market in Asia Pacific is expected to register high growth in terms of revenue over the forecast period.
Global Soybean Oil Market Segmentation:
Segmentation by Type:
Segmentation by Application:
- Animal Agriculture
- Cosmetics and Personal Care Products
Segmentation by End Use:
Segmentation by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenient Stores
- Online stores
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Ruchi Soya Industries Limited
- Cargill, Incorporated
- Agrofood Group
- LE Group Industries
- IB Group
- Aceitera General Deheza
- Harvest Brand
- Wilmar International Limited
- Granol Indústria, Comércio and Exportação S/A
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