Press release
Soybean oil Market is Appraised to be Valued US$ 21,373 Mn by 2022
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Following are the key projections from Fact.MR’s forecast on the global market for soybean oil.
Based on product type, the processed soybean oil segment is projected to remain dominant throughout the forecast period. Consumption of processed soybean oil is relatively higher than the virgin variant. Currently, the former command for over two-third revenue share of the market. Most consumers prefer processed soybean oil for cooking as it is more refined, which in turn continues to drive its global demand.
Based on end use, the retail segment is projected to exhibit impressive growth between 2017 and 2022. In terms of revenue, this segment currently commands for around 38% share of the market and is anticipated to stand at US$ 8,156 Mn towards the end of the forecast period. Foodservice segment is expected to remain the second largest end use segment.
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On the basis of distribution channel, the modern trade segment is projected to retain its top position over 2022. Presently, the segment commands for nearly one-third revenue share of the market. Meanwhile, the online retail store segment is also reflecting a steady growth as well.
Among regions, Europe will continue to be the largest market for soybean oil and exhibit lucrative growth opportunities over the next couple of years. The market in the region is expected to register a relatively higher CAGR as compared to other region.
Key players profiled in the Fact.MR report include ConAgra Foods (Agrotech Foods Ltd), Ach Food Companies, Inc., Marico Limited, Olympic Oils Limited, American Vegetable Oils, Inc., Fuji Vegetable Oil, Inc., Adams Group, Borges Mediterranean Group, Cargill Inc., Beidahuang Group, Bunge Limited, Associated British Foods (Ach), Archer Daniels Midland Company, Ruchi Soya Industries Ltd, and The Adani Wilmar Ltd. Owing to increasing demand for trans-fat free cooking oil, producers are actively focusing on introducing high quality refined soybean oil.
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