What Has Been The Evolution of the Soybean Oil Market in Recent Years?
The soybean oil market has seen considerable growth due to a variety of factors.
• The market size of soybean oil has evidently expanded in the recent past. The market size, which stood at $62 billion in 2024, is expected to swell to $66.61 billion in 2025, representing a compound annual growth rate (CAGR) of 7.4%.
This noticeable growth during the historical period is largely due to factors such as agricultural industrialization, the increasing demand for animal feed, expansion of the food processing industry, advancements in biotechnology and genetic engineering, global commerce and free market policies, along with the enforcement of biofuel mandates and regulations.
What Is the Forecasted Market Size and Growth Rate for The Soybean Oil Market Size In The Coming Years?
The soybean oil market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a significant expansion of the soybean oil market in the coming years, with predictions suggesting it could reach a value of $87.63 billion by 2029, boasting a compound annual growth rate (CAGR) of 7.1%.
Factors contributing to this anticipated growth during the forecast period encompass population increase and urbanization, a surge in protein demand, alterations in meal consumption trends, environmental changes and potential weather hazards, as well as health and wellness concerns. The forecast period is also anticipated to witness key developments including a rising requirement for protein, the upscale of biofuel manufacturing, expansion in the livestock sector, shifts in global commerce patterns and emerging markets, and changes in dietary habits.
What Factors Are Driving Growth In The Soybean Oil Market?
The escalating demand for food options that are beneficial to health is projected to fuel the expansion of the soybean oil market. Nutrient-rich edibles that offer crucial vitamins, minerals, and other favorable nutrients define healthier food. The surge in its demand is attributed to growing health consciousness, lifestyle changes, and concerns regarding society and the environment. Soybean oil is vital for making healthier food choices owing to its low saturated fat and abundance in omega-3 and omega-6 fatty acids which enhance heart health and overall wellbeing. For example, in May 2022, an online survey carried out by the International Food Information Council, a non-profit organization in the US, on 1,005 Americans aged 18 to 80, revealed that approximately 52% of the respondents adhere to a certain diet or eating regimen, denoting an increase from the past year. Hence, the ascending demand for healthier food choices is bolstering the soybean oil market's growth.
What Are The Main Segments Of The Global Soybean Oil Market?
The soybean oil market covered in this report is segmented –
1) By Product Type: Organic Soybean Oil, Conventional Soybean Oil
2) By Ingredients: Omega-3 Fats, Vitamin E, Low Saturated Fats, Polyunsaturated Fats
3) By Distribution Channel: Super market Or Hyper market, Convenience Stores, Wholesaler Or Distributor, Neighborhood Stores
4) By Application: Margarine, Frozen Foods, Salad Dressings, Shortenings, Baked Food, Cosmetics And Personal Care Products, Animal Agriculture, Other Applications
5) By End User: Commercial, Household
Subsegments:
1) By Organic Soybean Oil: Cold-Pressed Organic Soybean Oil, Expeller-Pressed Organic Soybean Oil, Refined Organic Soybean Oil
2) By Conventional Soybean Oil: Refined Soybean Oil, Unrefined Soybean Oil, High-Oleic Soybean Oil
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Which Emerging Market Trends Are Altering The Soybean Oil Industry?
Leading companies within the soybean oil industry are adopting strategic collaborations to maintain competitiveness. These strategic alliances allow businesses to utilize each other's advantages and resources for shared gains and growth. For example, the Missouri Soybean Merchandising Council (MSMC), an American entity that manages Missouri soy checkoff investment, and Seedway LLC, an American seed firm, entered into a licensing agreement in July 2023. This marked a pivotal step forward in SOYLEIC soybean farming, establishing non-GMO high oleic soybean oil as increasingly accessible across the United States. This growth-phase aims to address the surging demand for high-quality oils by enhancing soybean cultivation in New York and Ohio, hence improving the supply and availability of heart-healthy, high-oleic soybean oil.
Who Are the Key Players In The Soybean Oil Market?
Major companies operating in the soybean oil market report are:
• Cargill Incorporated
• Archer Daniels Midland Company
• Wilmar International Limited
• Bunge Limited
• Unilever plc
• Louis Dreyfus Company
• Cenex Harvest States Cooperative
• Associated British Foods
• DuPont de Nemours Inc
• Ajinomoto Co. Inc.
• DSM Integrated
• Kerry Group plc
• Ruchi Soya Industries Limited
• Hain Celestial Group
• Blue Diamond Growers
• Vitasoy International Holdings Limited
• SunOpta Inc.
• Ag Processing Inc.
• Parrish and Heimbecker Limited
• Nisshin OilliO Group Ltd
• Pulmuone Foods
• Bulk Apothecary
• House Foods America's
• Tofurky
• Devansoy Inc.
What Is The Most Dominant Region In The Soybean Oil Market?
North America was the largest region in the soybean oil market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the soybean oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
