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Global Soybean Oil Market is Expected to Grow at a CAGR of 1.5% in the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Soybean Oil Market and Forecast 2021-2026’, the global soybean oil market reached a volume of 51 million tons in 2020. The market is expected to grow further at a CAGR of 1.5% between 2021 and 2026 to reach a volume of 55.5 million tons by 2026.

The global soybean oil market is primarily being driven by its rising application in the food industry. Soybean oil is derived from soybean and is widely used for domestic cooking and is also in high demand from restaurants. In the preparation of shortening and margarine, this oil is an essential element. The global soybean oil market is driven by a number of factors, including the product’s emulsifying ability as well as low calories. Soybean oils have no trans-fat and insignificant amount of saturated fat, making it a leading choice among all other oils. In the coming years, soybean is expected to increase as the demand for food rises, rising population, retail network improvements, rapid urbanisation, and the rise in soy crop production.

The versatility of soybean oil is considered to be an advantage for many foodstuffs industry manufacturers worldwide. The demand is anticipated to widen in the near future, along with the growing number of distribution channels facilitating soybean oil sales, including grocery stores, hypermarkets and supermarkets, and convenience stores like Walmart Inc (NYSE: WMT) and Tesco.

Market Analysis by End Use and Region:

  • Based on end use, the industry can be divided into food, feed, and industrial, among others.
  • The regional markets of soybean oil include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global soybean oil market is primarily being aided by the product’s cost-effectiveness, leading to its wider adoption, especially in the emerging economies like India and China.
  • The market is being driven by the rising health consciousness among consumers suffering from health conditions like obesity, high cholesterol, and cardiovascular diseases.
  • The application of the product is rising in both food as well as non-food industries, which is influencing the market positively.
  • The rising eco-consciousness among the consumers is also expected to aid the market growth as soybean oil is considered to be a sustainable replacement for petrochemicals and known carcinogens in several industrial applications.

Key Offerings of the Report:

  • The EMR report gives an overview of the global soybean oil market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the end-uses and major regions of soybean oil.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global soybean oil market are Bunge North America, Inc., ADM, Cargill, Incorporated, CHS Inc., Ag Processing Inc., Louis Dreyfus Company, and Wilmar International Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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