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Global Soybean Oil Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Published: | Mordor Intelligence Pvt Ltd | 100 Pages | Delivery time: 2-3 business days


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Global Soybean Oil Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 100 Pages
Delivery time: 2-3 business days
  • Description
  • Table of Contents

The global soybean market is expected to register a CAGR of 5.78% during the forecast period (2020-2025).

Key Highlights

  • The growing awareness among consumers regarding the advantages of soybean oil, in comparison to other vegetable edible oils, has driven its demand significantly.
  • China, the United States, Brazil, and India are the major countries in the world that consume soybean oil.
  • Low cost, easy availability, and the eco-friendly nature of soybean oil have further facilitated its use in various sectors, such as food, industrial, and feed. Soybean oil is also used in various food and industrial applications, such as for production of caulks and mastics, which are useful as adhesives or sealants.

Key Market Trends

Growing Usage of Soybean Oil in Biodiesel

Soybean acreage is much greater than other oilseed crops, leading to substantial soybean oil production and its availability as a biofuel feedstock. There are many benefits to using soybean oil in the production of biodiesel. As soybeans are widely grown, the infrastructure and equipment to grow, transport, and process them already exists. Moreover, the leftover soybean meal is important for animal feed. The use of soybean oil for biodiesel was greatly influenced by the promotion from US soybean farmers through the United Soybean Board (USB) and the subsequent creation of the National Biodiesel Board (NBB). According to the EIA, the total share of soybean oil consumed as a biodiesel feedstock doubled, from about 15% in 2010-11 to 30% in 2017-18.

North America Holds a Prominent Share in the Market

Biodiesel is leading to the increase of the consumption of soybean oil in the country. The weak food demand is offset by theincrease in the US production of biodiesel, which uses soybean oil as a major feedstock. As per the USDA reports, soybean production declined initially (2010/11-2011/12) and then increased incrementally, with a modest improvement in yields and planted acreage. The expected growth in the US soybean supply will allow for a moderate rise in the domestic use and exports. However, the growth of the US soybean industry is likely to slow over the next few years, as it faces stronger foreign competition and the US farmers are shifting their acreage into feed grains. Although the net returns for soybeans is likely to rise to uncommonly high levels, they are expected be lower than that of corn, and as a result, gradually limit the US soybean acreage.

Competitive Landscape

The global soybean oil market is consolidated, with the major players holding a prominent share in the market. The versatility of soybean oil is expected to emerge as an opportunity, and thereby, attract many manufacturers in the food products sector across the world. The major players in the market are Cargill Inc., Bungee Limited, ADM, and Associated British Foods PLC.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Product Code: 68247



  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study



  • 3.1 Market Overview


  • 4.1 Market Drivers
  • 4.2 Market Restraints
  • 4.3 Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry


  • 5.1 By Application
    • 5.1.1 Food
      • Spreads
      • Bakery and Confectionery
      • Other Applications
    • 5.1.2 Animal Feed
    • 5.1.3 Industrial
  • 5.2 Geography
    • 5.2.1 North America
      • United States
      • Canada
      • Mexico
      • Rest of North America
    • 5.2.2 Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • 5.2.3 Asia-Pacific
      • China
      • Japan
      • India
      • Australia
      • Rest of Asia-Pacific
    • 5.2.4 South America
      • Brazil
      • Argentina
      • Rest of South America
    • 5.2.5 Middle-East & Africa
      • South Africa
      • Saudi Arabia
      • Rest of Middle-East & Africa


  • 6.1 Most Active Companies
  • 6.2 Most Adopted Strategies
  • 6.3 Market Share Analysis
  • 6.4 Company Profiles
    • 6.4.1 Archer Daniels Midland Company
    • 6.4.2 Associated British Foods PLC
    • 6.4.3 Bungee Limited
    • 6.4.4 Cargill Incorporated
    • 6.4.5 Corteva
    • 6.4.6 Olam International
    • 6.4.7 Wilmar International Ltd
    • 6.4.8 Granol