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The composition of polyunsaturated and mono-unsaturated fat essential in the diet for livestock is provided effectively by soybean oil, thereby increasing its demand as livestock feed. It is further expected to bolster the market growth rate over the forecast period. The edible oil also includes vitamins A, E and K in abundance; it is rich in omega-3, omega-6 essential fatty acids, and sterols, among others. Growing awareness about the health benefits of consuming soybean oil is boosting the market growth of the product. Moreover, as a digestible energy source that requires relatively less fermentation in the rumen for energy to be released, coupled with the high availability of the product, are propelling the growth of the industry.
The market growth is boosted by the growing competition among the industry key players, such as Bunge Limited (NYSE: BG) and Centra Foods. Centra Foods, a North American bulk edible oil supplier, produces and supplies organic soybean oil as a cooking ingredient throughout the continent. The growing organic and sustainable methods are expected to enhance the market for soybean oils during the forecast period. In July 2017, the U.S. FDA approved the petition of the North American arm of Bunge Limited, Bunge North America, which claimed that the consumption of soybean oil reduces the risk of coronary heart disease. Such R&D activities in the industry are expected to elevate the market for soybean oil over the forecast period.
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Centra Foods, Bunge Limited, Cargill, Incorporated, Archer Daniels Midland Company, and Viterra Inc., among others are the key players in the Canada soybean oil market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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