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.
Market Taxonomy
|
Product Type |
End User |
Distribution Channel |
|
Processed |
Foodservice |
Modern Trade |
|
Virgin |
Food Processor |
Franchise Outlets |
|
Retail |
Specialty Stores |
|
|
Online |
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
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.
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.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
In its recent report, Fact.MR offers a comprehensive perspective on the global soybean oil market across few targeted regions. Shifting consumer focus towards natural, flexible, and simple diets, coupled with the increasing urgency to develop healthier vegetable oil products is likely to influence the demand for soybean oil in the near future. The report focuses on the provision of in-depth research and detailed insights about global soybean oil market for the forecast period 2017 to 2022.
Scope
The prime focus of Fact.MR’s report is to provide readers with an unbiased and accurate analysis of current market status of soybean oil, along with future growth estimations. Soybean oil producers, suppliers, and distributors in the global market will benefit from the insights offered in this report. A detailed guide has been formulated in this report, which can attract the interest of top trade magazines and journals pertaining to soybean oil.
Summary
The report commences by providing an executive summary, market dynamics and market taxonomy, underlining the factors which influence growth of the global soybean oil market. This executive summary offers the foundation on which the report is based, providing users with scope of the report. The executive summary contains key statistics and facts impacting the global soybean oil market.
Overview
This section offers a detailed view of the global soybean oil market, comprising the market introduction, along with the standard definition of product – soybean oil. Market value as well as year-over-year expansion is offered to readers in this section. Y-o-Y growth enables readers to view broader aspects of growth patterns during the forecast period.
This section also details the drivers, restraints, opportunities and key trends influencing the market growth based on perspectives of macroeconomic, demand, and supply sides. Impact analysis of the weighted average model-based expansion drivers is included in the report for the provision of better decision-making insights to clients.
To offer readers with latest information about advancements in the global soybean oil market, updates about opportunities benefitting leading soybean oil producing companies are offered in the report. Continuous evolution of the food & beverages sector necessitates keeping record of upcoming and recent developments and trends which are fundamental for soybean oil producers to formulate and adopt key business strategies. The detailed analysis pertaining to list of distributors, pricing analysis, raw material sourcing, cost structures, and supply chain are offered in this section.
By considering the global soybean oil market, and provide an in-depth analysis, Fact.MR’s report offers segment-wise analysis and forecast. The soybean oil market is categorized on the basis of product type, end use, distribution channel and region. Segmentation analysis offered is comprehensive, along with the detailed country-wise forecast offered on all parameters.
The report’s last section emphasizes on the competitive landscape of the global soybean oil market, providing readers with the dashboard of company analysis as well as the market players. Competitive intelligence provided by the report is based on providers’ categories in the value chain, and their presence in the global soybean oil market.
Research Methodology
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research. We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
Fact.MR offers custom research services that help clients to get specific research solutions
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Soybean Oil Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022