Soybean Oil Market size is forecast to reach $3.17 billion by 2025, growing at a CAGR of 5.8% during the forecast period 2020-2025. Soybean Oil is a vegetable oil extracted from the seeds of the Glycine Max. The rising number of health-conscious customers and increasing fermentation & drilling processes are the major factors driving the growth of the market. Rising in soy oil production with its various nutritional benefits is set to further enhance the overall market demand of Soybean oil during the forecast period 2020-2025.
Key Takeaways
- The Asia Pacific dominated the Soybean Oil Market in 2019 owing to the increasing food demand and increasing urbanization. The Soybean Oil market scope for different regions will be provided in the final report.
- Increasing health benefits and rising disposable income is likely to aid in the market growth of Soybean Oil Market.
- Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Soybean Oil Market report.
- The increasing availability of an alternative to soybean is poised to create hurdles for the Soybean Oil Market
Raw Materials - Segment Analysis
The organic Soybean oil segment held the largest share in the Soybean Oil Market in 2019 and is estimated to grow at a CAGR of 6.31% during the forecast period 2020-2025. Organic Soybean Oil is used as a neutral ingredient or by organic fry. It has a neutral flavor, light in nature, and is most used in vegetable oils. Conventional Soybean oil is used in food manufacturing and has a high heat tolerance which makes it ideal for sautéing and frying. Organic Soybean oil is a rich source of essential nutrients like vitamins, proteins, fatty acids, and plant sterols and it helps in improving immunity, preventing osteoporosis, managing heart health, boosting skin and eye health, lowering cholesterol levels, and reducing the threat of cognitive disorders. Organic soybean oil is set to be the fastest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
Applications - Segment Analysis
The food segment held the largest share in the Soybean Oil Market in 2019. Soybean oil is a vegetable oil that is extracted from the seeds of the glycine max and it is one of the most widely consumed cooking oils. Soybean oil is a polyunsaturated or linoleic type of oil that is highly susceptible to lipid oxidation which is used in cooking and frying foods. Soybean oil is rich in vitamin E which is a nutrient that helps to promote skin health. It protects against inflammation and helps the skin to retain moisture. Soybean oil has various antioxidant constituents that help to protect the skin by neutralizing free radicals that are present in the environment and helps to maximize the effect of personal care products such as anti-aging or brightening creams. Food is set to be the fastest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
Geography - Segment Analysis
Asia Pacific dominated the Soybean Oil market in 2019 with a share of more than 44.12%, followed by North America owing to the increasing demand for Soybean oil for cooking purposes in a household. Increasing Urbanization and the rise in the number of health-conscious consumers is increasing the growth of the Soybean oil market in this region.
However, North America is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the rising disposable income and an increase in the fermentation and drilling process. Increasing demand for Soybean oil in the preparation of sauces, dressing, non-dairy creamers, whipped toppings and increasing usage of Soybean oil in fighting against conditions such as obesity, high cholesterol and cardiovascular disease is increasing the growth of the Soybean oil market in this region.
Drivers – Soybean Oil Market
- Rising number of health-conscious customers and increasing fermentation & drilling processes
The rising number of health-conscious customers and increasing fermentation & drilling processes are increasing the growth of the Soybean oil market. Soybean oil is a vegetable oil extracted from the seeds of the Glycine Max. Soybean oil has various health benefits to heart, skin, and bones. It consists of polyunsaturated fatty acids which are a heart-type of fat and is associated with various benefits. Polyunsaturated fat reduces LDL Cholesterol which is a major risk factor for heart disease. Soybean oil contains heart-healthy omega -3 fatty acid which can reduce inflammation and protect against heart disease. Soybean oil also promotes health and prevent chronic disease. It is rich in vitamin K which is set to maintain bone strength and reduce the risk of fractures and help to prevent bone loss and increasing fermentation & drilling process. Thus, increasing the growth of the Soybean oil market during the forecast period 2020-2025.
- Rising soy oil production with its various nutritional benefits
Rising soy oil production with its various nutritional benefits is increasing the growth of the Soybean oil market. Soybean oil is widely used vegetable oil in the world which is refined, blended, and hydrogenated. It is healthier than other vegetable oil as it has a good variety of essential fatty acids that the body needs to be healthy. Soybean oil contains the saturated fatty acids stearic acid and palmitic acids and hydro generation which is used to reduce the unsaturation in linolenic acid. Soybean oil helps to develop a good immune system and in strengthening body tissues and organs. Soybean oil contains bioflavonoids and vitamin E that keeps the eyes healthy and prevents cataract. Thus, increasing the growth of the Soybean oil market.
Challenges – Soybean Oil Market
- Increasing availability of alternative to Soybean
Some of the factors that can impede the growth of the Soybean Oil Market are the increasing availability of alternative to Soybean.
Soybean Oil Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Soybean Oil Market. In 2019, the Soybean Oil Market share is consolidated by the top ten players present in the market. Soybean Oil, top 10 companies Ruchi Soya Industries, LE Group Industries, Grenoble, Fediol, LB Group, Wilmar International Ltd, Marico Limited, Cargill Inc., Kerry Inc., and Ach Bunge Limited, among others.
Acquisitions/Product Launches
- In January 2019, Cargill Inc. acquired Konspol to expand the company’s focus and to provide value added protein to global consumers.
- In October 2016, Kerry Inc. acquires Aatco Food Industries LLC.
