Press release
Soybean Oil Market Opportunities in the United States
Soybean Oil Market
The global soybean oil market is poised for significant growth, with projections indicating an increase from USD 56.27 billion in 2024 to USD 77.02 billion by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 4% over the forecast period. This growth is attributed to rising health consciousness among consumers and the expanding use of soybean oil in biodiesel production.
Competitive Landscape and Regional Demand
Key players in the soybean oil market include Archer Daniels Midland Company, Bunge Limited, Cargill, Incorporated, Wilmar International Limited, and Louis Dreyfus Company. These companies are focusing on strategic initiatives such as mergers and acquisitions, product innovation, and expansion of production capacities to strengthen their market position.
Asia Pacific holds the largest market share, accounting for approximately 46.52% in 2023, driven by increasing demand in countries like China and India. North America and Europe follow closely, with strong demand from the food processing and biofuel sectors.
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United States: Growth Opportunities and Trends
The United States soybean oil market is experiencing robust growth, projected to reach USD 14.81 billion by 2032. This expansion is fueled by the country's strong food processing industry and the rising use of soybean oil in biodiesel production
Key Developments:
In May 2022, Cargill announced plans to build a new soybean processing plant in Missouri to meet the rising demand for oilseeds in the food, feed, and biofuel industries.
In May 2021, Archer Daniels Midland (ADM) revealed plans to construct North Dakota's first-ever soybean crushing plant, aiming to strengthen the U.S. supply chain for soybean oil and its derivatives
Asia Pacific: Expansion and Consolidation
The Asia Pacific region is projected to grow from USD 23.83 billion in 2023 to USD 68.42 billion by 2032, exhibiting a CAGR of 3.28%. This growth is driven by a rising population, increasing disposable incomes, and a shift towards healthier cooking oils.
Key Developments:
In July 2023, the Missouri Soybean Merchandising Council (MSMC) and Seedway LLC entered a licensing agreement to advance SOYLEIC soybean cultivation, aiming to increase the availability of non-GMO high oleic soybean oil in the U.S. Europe: Technological Advancements and Market Updation
Europe's soybean oil market is expanding from USD 3.63 billion in 2023 to USD 7.13 billion by 2033. The increasing emphasis on sustainable and organic products among consumers propels demand, with stringent regulations pushing producers to enhance sustainability practices.
Key Developments:
In March 2023, Bunge Limited and Corteva Agriscience announced significant progress in enhancing the quality of soybean meals for use in animal feed, aiming to address growing demand for more nutritious feed for livestock.
Middle East and Africa: Emerging Opportunities and Trends
The Middle East and Africa's soybean oil market is set to increase from USD 0.66 billion in 2023 to USD 1.29 billion by 2033. The growing food processing industry and imported soybean oil products cater to rising consumer demands for quality cooking oils.
Key Developments:
The region is witnessing an increasing demand for vegetable oils due to their improving health profile, with soybean oil being a preferred choice in some markets.
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♦ Breaking Down the Soybean Oil Market: Key Segments Shaping the Industry
by Type
Refined Soybean Oil
Crude Soybean Oil
High-Oleic Soybean Oil
by Distribution Channel
Supermarkets & Hypermarkets
Convenience Stores
Online Retail
Direct Sales (B2B)
By End-Use Industry
Food Industry
Biofuels
Animal Feed
Industrial Applications
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♦ Meet the Industry Leaders Revolutionizing the Soybean Oil Market
1. Archer Daniels Midland Company (ADM)
2. Bunge Limited
3. Cargill, Incorporated
4. Louis Dreyfus Company B.V.
5. Wilmar International Limited
6. DuPont
7. Unilever plc
8. AMAGGI Group
9. SunOpta, Inc.
10. Ruchi Soya Industries Limited
11. Kerry Group PLC
12. FUJI OIL
13. Aceitera General Deheza
14. Patanjali Foods
15. ACH Food Companies
16. IB Group
17. CHS Inc.
18. Adani Wilmar Limited
19. Olam Agri Holdings Pte Ltd.
20. Ekologie Forte Pvt. Ltd.
21. Emami Agrotech Limited
22. Mother Dairy Fruit & Vegetable Pvt. Ltd.
23. Marico Limited
24. Vimal Oil & Foods Ltd.
25. Liberty Oil Mills Limited
26. Others
♦ Uncover Key Insights Answering the Biggest Questions in the Soybean Oil Market
What is Soybean Oil ?
What is the growth rate of the Soybean Oil Market?
Which are the factors expected to drive the Soybean Oil market growth?
What is the CAGR at which the Soybean Oil market will grow during the forecast period?
What are the different segments of the Soybean Oil Market?
Which is the fastest growing region in the Soybean Oil market?
What growth strategies are the players considering to increase their presence in Soybean Oil ?
What are the upcoming opportunities and trends for the Soybean Oil Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Soybean Oil Market?
Who are the leading companies and what are their portfolios in Soybean Oil Market?
What segments are covered in the Soybean Oil Market?
Who are the key players in the Soybean Oil market?
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Past Size and Competitive Landscape
• Past Pricing and price curve by region
• Size, Share, Size Forecast by different segment
• Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Segmentation A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape Profiles of selected key players by region from a strategic perspective
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