Global Soybean Oil Market: Analysis and Forecast 2022-2027
Global Soybean Oil Market: Analysis and Forecast 2022-2027
Regional Category Spend, Primary Demand, Price Analysis and Indicators, and Best Buying Practices of the Soybean Industry Report
The global Soybean oil industry was valued to be worth 51.77 MMT in 2021. In the projection period of 2022-2027, the industry is expected to grow at a CAGR of around 1.5 percent, achieving a value of around USD 56.33 MMT by 2027.
The Soybean Oil industry report broadly studies the industry, together with important segments, movements, drivers, constraints, the competitive landscape, and other critical market features. Because of its numerous health benefits, soybean oil is becoming extremely popular in the foodservice industry. The Asia Pacific the biggest category spender by region which is impelling the demand for the soybean oil industry.
Soybean Oil: Industry Definition and Segmentation
Soybean oil is derived from soybean seeds (Glycine max) and is one of the most often used edible oil.
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The soybean oil industry report comprises segments:
- By application: Industrial Use, Food Use, Feed use
- By region: North America, Europe, Asia Pacific, the Middle East, and South America
Snapshot of the Report
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
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Researchers are working on novel seed varieties with improved nutrition and other benefits. High oleic soybeans were developed by seed companies to give a trans-fat-free soybean oil with more nutritional benefits than regular soybeans. Soybean oils are also used in the manufacture of biodiesel fuel. Manufacturers have been focusing their efforts on producing new bio-diesels generated from soybean oil that can be used to replace fossil fuels.
Using methanol or ethanol in the presence of sodium hydroxide as a catalyst is the most common method for producing biodiesel from vegetable and animal fats. Although biodiesel generated from soybean oil has yet to be commercialized, numerous fuel firms have invested in the research and development of biodiesels that could be the next big thing.
Category Insight by Region
Due to the rising consumption of the product in China and India, the Asia Pacific region has the greatest share of the market. Because they can afford to buy enormous volumes of oil, Chinese and Indian clients’ purchasing power has resulted in significant increases in use. China consumes the most soybean oil in the world, with food being the principal end-user use. Because of government-led measures, China’s soybean oil consumption and output will climb as the country’s population and soybean acreage expand.
The soybean oil industry is primarily driven by the product’s numerous applications in a variety of industries. The industry is being propelled by growing public knowledge of the health benefits of soybean oil. It aids in the improvement of immunity, the reduction of the risk of cognitive impairments, and the prevention of osteoporosis, among other things.
The wide spectrum of health advantages is gaining popularity among health-conscious people. The oil is less expensive than most other oils on the market, such as olive oil, which drives demand. It is used to make items such as resins, caulks, and plastics, among other things, which help the sector grow. It’s also a crucial ingredient in cattle feed, because of its high nutritional value, which boosts sales.
Best Procurement Practices
The global Soybean oil industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major customers of soybean oil products across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Category Management Studies
To make soybean oil, soybeans are cracked, moisture content regulated, heated to 60–88 °C (140–190 °F), rolled into flakes, and solvent-extracted with hexanes. The oil is then refined, mixed for different purposes, and sometimes hydrogenated. S is a partially hydrogenated liquid. Soybean oils are sold as “vegetable oil” and can be found in many processed foods.
Key Supplier Profiles included in the Global Soybean Oil Industry Report
The key market players are The Archer Daniels Midland Company, Cargill Inc., Bunge Limited, Wilmar International Ltd., and Louis Dreyfus Company B.V.
The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments in the market.
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