Soybean Oil Global Market Report 2024 by The Business Research Company | Cargill Incorporated; Archer Daniels Midland Company; Wilmar International Limited; Bunge Limited; Unilever plc; Louis Dreyfus Company; Cenex Harvest States Cooperative

The soybean oil market size has grown strongly in recent years. It will grow from $58.03 billion in 2023 to $62.00 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to the industrialization of agriculture, demand for animal feed, food processing industry, biotechnology, and genetic engineering, global trade and market liberalization, and biofuel mandates and policies.

The soybean oil market size is expected to see strong growth in the next few years. It will grow to $81.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to population growth and urbanization, rising demand for protein, shifts in dietary patterns, climate change and weather risks, and health and nutrition. Major trends in the forecast period include increasing demand for protein, expansion of biofuel production, growing livestock industry, shifts in global trade dynamics and emerging markets, and dietary shifts.

Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=15150&type=smp

Soybean Oil Market Major Segments
The soybean oil market covered in this report is segmented -

1) By Product Type: Organic Soybean Oil, Conventional Soybean Oil
2) By Ingredients: Omega-3 Fats, Vitamin E, Low Saturated Fats, Polyunsaturated Fats
3) By Distribution Channel: Supermarket Or Hypermarket, Convenience Stores, Wholesaler Or Distributor, Neighborhood Stores
4) By Application: Margarine, Frozen Foods, Salad Dressings, Shortenings, Baked Food, Cosmetics And Personal Care Products, Animal Agriculture, Other Applications
5) By End User: Commercial, Household

Key Driver - Growing Demand For Healthier Food Options Driving Soybean Oil Market Growth

The growing demand for healthier food options is expected to propel the growth of the soybean oil market going forward. Healthier food refers to nutrient-dense food items that provide essential vitamins, minerals, and other beneficial nutrients. The demand for healthier food is due to increasing health awareness, changing lifestyles, and social and environmental concerns. Soybean oil is integral to healthier food choices owing to its reduced saturated fat content and abundant omega-3 and omega-6 fatty acids promote better heart health and overall wellness. For instance, in May 2022, according to an online survey among 1,005 Americans ages 18 to 80. conducted by the International Food Information Council, a US-based non-profit organization, around 52% of participants followed a specific diet or eating pattern, up from 39% in 2021. Therefore, the growing demand for healthier food options is driving the growth of the soybean oil market.

Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=15150&type=smp

Prominent Trend - Strategic Partnerships Drive Growth In The Soybean Oil Market

Major companies operating in the soybean oil market are focusing on a strategic partnership approach to be competitive in the market. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in July 2023, the Missouri Soybean Merchandising Council (MSMC), a US-based organization that directs the investment of Missouri soy checkoff, and Seedway LLC, a US-based seed company, made a new licensing agreement to mark a significant advancement for SOYLEIC soybean cultivation, making non-GMO high oleic soybean oil more readily available throughout the United States. This expansion will address the growing need for superior-quality oils in response to rising demand by expanding soybean production in New York and Ohio to boost the supply and accessibility of heart-healthy, high-oleic soybean oil.

Soybean Oil Market Players
Major companies operating in the soybean oil market report are Cargill Incorporated; Archer Daniels Midland Company; Wilmar International Limited; Bunge Limited; Unilever plc; Louis Dreyfus Company; Cenex Harvest States Cooperative; Associated British Foods; DuPont de Nemours Inc; Ajinomoto Co. Inc.; DSM Integrated; Kerry Group plc; Ruchi Soya Industries Limited ; Hain Celestial Group; Blue Diamond Growers ; Vitasoy International Holdings Limited ; SunOpta Inc.; Ag Processing Inc.; Parrish and Heimbecker Limited; Nisshin OilliO Group Ltd; Pulmuone Foods; Bulk Apothecary; House Foods America's ; Tofurky; Devansoy Inc.

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/soybean-oil-global-market-report

Largest And Fastest Growing Region In The Market
North America was the largest region in the soybean oil market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the soybean oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Soybean Oil Market Report Structure
3. Soybean Oil Market Trends And Strategies
4. Soybean Oil Market - Macro Economic Scenario
5. Soybean Oil Market Size And Growth
…..
27. Soybean Oil Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.