Key Points On Soybean Oil Market With Trends And Growth Forecast Estimation Till 2022

The report on Soybean oil market is the latest addition to the huge database of Fact.MR. This research study is segmented on the basis of applications, technology, geography, and types. The report provides a detailed Soybean oil Industry Overview along with the analysis of industry’s gross margin, cost structure, consumption value, and sale price. The leading companies of the Soybean oil Market, manufacturers, and distributors are profiled in the report along with the latest Industry development current and future trends.

Soybean oil is a popular cooking oil that is used by consumers across the globe. Close to two-third of the soybeans produced globally is used for production of soybean oil. Over the past couple of years, the global production of soybean oil has soared substantially. This is attributed to the expanding application base of the product in the food and beverage industry. Traditionally, soybean oil is used for baking, frying and even for garnishing salads. It also finds application in manufacturing of paint and drying oil. For many year now, the product has been a key raw material in making alkyd resins. Soybean oil remains one of the most low cost vegetable oil, which is readily available in the market. Factors as such are reflecting favorably on the global soybean oil market. Fact.MR’s latest study reveals that the global soybean oil market will ride at a moderate CAGR during the forecast period (2017-2022) to surpass a valuation of US$ 21,373 Mn.

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Global Consumption of Processed Soybean Oil to Remain the Highest

The global consumption of processed soybean oil is expected to remain significantly higher as compared to the virgin variant. In addition, sales of processed soybean oil currently account for more than two-third share of the market in terms of revenue and are expected to gain 70 BPS over 2022. Processed soybean oil can be used directly for cooking purposes without any purification or refining obligations, and hence is preferred by most consumers.

On the basis of end use, the retail segment is expected to remain highly attractive throughout the forecast period. Currently, this segment accounts for little over 38% revenue share of the market and projected to reach valuation of US$ 8,156 Mn by 2022. Meanwhile, the foodservice segment is estimated to retain its second spot.

By distribution channel, modern trade will remain the leading segment of the market in 2017 and beyond. This segment currently accounts for around one-third market share in terms of revenue. At the same time, online retail stores are also steadily emerging as key distribution channel for soybean oil.

Following are the key projections on the global market for soybean oil.

1- 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.

2- 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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4- 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.

5- 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.

Consumption of Soybean oil will Remain Robust in Europe

Europe will remain the leading market for soybean oil over the forecast period. The region’s market is projected to increase at a steady CAGR over 2022. There is substantial usage of the product both as feed and fuel in the region. Asia Pacific excluding Japan (APEJ) will also continue to be an attractive market for soybean oil owing to its high consumption as well as production in countries such as China and India

Competition Tracking

Ruchi Soya Industries Ltd, The Adani Wilmar Ltd., Archer Daniels Midland Company, Associated British Foods (Ach), Bunge Limited, Beidahuang Group, Cargill Inc., Borges Mediterranean Group, Adams Group, Fuji Vegetable Oil, Inc., Olympic Oils Limited, American Vegetable Oils, Inc., Marico Limited, Ach Food Companies, Inc, and ConAgra Foods (Agrotech Foods Ltd) are the key companies profiled in the Fact.MR’s report.

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