Soybean Oil Market

Soybean Oil Market Size and Share Forecast Outlook 2025 to 2035

The global soybean oil market is projected to reach USD 108.0 billion by 2035, recording an absolute increase of USD 34.0 billion over the forecast period. The market is valued at USD 74.0 billion in 2025 and is set to rise at a CAGR of 3.8% during the assessment period.

The overall market size is expected to grow by nearly 1.5 times during the same period, supported by increasing global protein demand driving soybean processing and rising biofuel mandates worldwide, creating sustained demand for soybean oil in food, industrial, and energy applications globally. However, trade tensions affecting soybean markets and competition from alternative vegetable oils may pose challenges to market expansion.

Quick Stats for Soybean Oil Market

• Soybean Oil Market Value (2025): USD 74.0 billion
• Soybean Oil Market Forecast Value (2035): USD 108.0 billion
• Soybean Oil Market Forecast CAGR: 3.8%
• Leading End Use Type in Soybean Oil Market: Food Applications
• Key Growth Regions in Soybean Oil Market: North America, South America, and Asia-Pacific
• Top Key Players in Soybean Oil Market: ADM, Bunge, Cargill, Louis Dreyfus, COFCO, Wilmar, Soya Hellas, Amaggi, Perdue, SIMEK

Between 2025 and 2030, the soybean oil market is projected to expand from USD 74.0 billion to USD 89.6 billion, resulting in a value increase of USD 15.6 billion, which represents 45.9% of the total forecast growth for the decade.

This phase of development will be shaped by rising global protein demand and soybean processing expansion, product diversification in biodiesel and industrial applications, as well as expanding integration with sustainable sourcing practices and non-GMO certification programs.

Companies are establishing competitive positions through investment in soybean processing capacity, supply chain optimization, and strategic market expansion across food, biofuel, and industrial sectors.

From 2030 to 2035, the market is forecast to grow from USD 89.6 billion to USD 108.0 billion, adding another USD 18.4 billion, which constitutes 54.1% of the overall ten-year expansion. This period is expected to be characterized by the expansion of sustainable and certified soybean oil products, including non-GMO varieties and sustainable sourcing initiatives tailored for environmentally conscious food manufacturers and biofuel producers.

Strategic collaborations between soybean processors and international commodity companies, and an enhanced focus on traceability and supply chain transparency are likely to be key growth indicators. The growing emphasis on protein security and renewable energy will drive demand for comprehensive soybean oil solutions across diverse food processing, biofuel, and industrial applications.

Soybean Oil Market Key Takeaways

Metric	Value
Market Value (2025)	USD 74.0 billion
Market Forecast Value (2035)	USD 108.0 billion
Forecast CAGR (2025 to 2035)	3.8%

Why is the Soybean Oil Market Growing?

The soybean oil market grows by enabling food manufacturers, biofuel producers, and industrial processors to access versatile vegetable oils and functional ingredients that deliver superior cooking properties and processing capabilities as co-products of global protein production.

Food processors and energy companies face increasing demand for reliable vegetable oil supplies with neutral flavors, high stability, and sustainable sourcing, with soybean oil typically providing excellent frying performance, biodiesel compatibility, and cost-effectiveness that purpose-grown oil crops cannot match from integrated protein-oil production systems, making soybean oil essential for global food security and renewable energy positioning.

The agricultural commodity industry's need for efficient dual-purpose crops creates demand for comprehensive soybean oil solutions that can provide consistent quality, competitive pricing, and supply reliability without compromising the economics of protein production or energy security requirements.

Government initiatives promoting protein security and renewable energy drive adoption in major soybean-producing countries like the United States, Brazil, and Argentina, where soybean cultivation has a direct impact on agricultural economic development and food security. However, trade policy volatility affecting soybean markets and environmental concerns regarding large-scale agriculture may limit expansion opportunities among growing global demand for vegetable oils and protein meal in emerging markets.

Segmental Analysis

The market is segmented by end use, grade, distribution channel, and region. By end use, the market is divided into food, biofuels, industrial/others. Based on grade, the market is categorized into refined and crude. By distribution channel, the market includes B2B bulk and retail. Regionally, the market is divided into North America, South America, Asia-Pacific, and other key regions.

By End Use, the Food Segment Accounts for a Dominant Market Share

The food applications segment represents the dominant force in the soybean oil market, capturing approximately 63.0% of total market share in 2025. This established end use category encompasses cooking oils, food processing ingredients, and commercial food production applications featuring neutral flavor profiles, high smoke points, and versatile culinary properties that enable superior food manufacturing and household cooking applications.

The food segment's market leadership stems from its superior versatility capabilities, with products capable of serving diverse culinary applications while maintaining consistent quality standards and competitive pricing across all major food markets.

The biofuels segment maintains a substantial 24.0% market share, serving renewable energy production and biodiesel manufacturing who require cost-effective feedstock oils with suitable fatty acid profiles for sustainable fuel production and environmental compliance.

These products offer renewable energy solutions for transportation fuel applications while providing sufficient energy density to meet biofuel mandates and environmental sustainability demands. The industrial/others segment accounts for approximately 13.0% of the market, serving oleochemical production and specialized industrial applications.

Key end use advantages driving the food segment include:

• Neutral flavor profiles with high smoke points that ensure versatile cooking applications without flavor interference in diverse culinary preparations

• Consistent quality standards enabling reliable food processing performance across commercial manufacturing and household cooking requirements
• Cost-effective production methods allowing competitive pricing for bulk food applications and consumer retail markets
• Nutritional compatibility features, supporting healthy cooking goals and food formulation requirements without specialized processing needs

By Grade, the Refined Segment Accounts for the Largest Market Share

Refined soybean oil dominates the soybean oil market with approximately 86.0% market share in 2025, reflecting the widespread preference for processed soybean oil in food applications, commercial cooking, and industrial processing where neutral characteristics and extended shelf life are essential for product quality and consumer acceptance.

The refined segment's market leadership is reinforced by consumer preferences for neutral-tasting cooking oils and food manufacturer requirements for consistent processing characteristics across diverse food production applications.

The crude soybean oil segment represents the remaining 14.0% market share through biodiesel production, industrial processing, and further refining applications that utilize unprocessed soybean oil for specialized industrial and energy applications. This segment benefits from cost advantages in industrial applications where refined characteristics are not required and direct processing from crude oil provides economic benefits.

Key market dynamics supporting grade differentiation include:

• Refined expansion driven by consumer preference for neutral-flavor cooking oils and food manufacturer requirements for consistent processing characteristics
• Crude specialization enabling cost-effective biodiesel production and industrial processing applications with direct oil utilization
• Processing efficiency creating value differentiation between consumer-ready and industrial-grade soybean oil applications
• Growing emphasis on application-specific processing driving demand for both refined food-grade and crude industrial-grade soybean oil solutions

What are the Drivers, Restraints, and Key Trends of the Soybean Oil Market?

Global protein demand growth and soybean processing expansion create increasing soybean oil supply, with global soybean processing growing by 3-4% annually as protein consumption increases worldwide, requiring comprehensive soybean oil utilization infrastructure.

Biofuel mandates and renewable energy requirements drive increased adoption of soybean oil biodiesel, with many countries implementing biodiesel blending requirements and sustainable fuel policies by 2030.

Food security priorities and cooking oil demand enable expanded soybean oil applications in food processing and household cooking that support global nutrition security while maintaining affordable vegetable oil supplies.

Market restraints include trade policy volatility affecting soybean commodity markets that can create price instability and supply chain disruptions, particularly during periods of international trade tensions or agricultural policy changes.

Competition from other vegetable oils poses another significant challenge, as palm oil, canola oil, and sunflower oil often provide cost or performance advantages in specific applications, potentially limiting soybean oil market share.

Environmental concerns regarding large-scale soybean agriculture create additional regulatory and sustainability pressures, demanding ongoing investment in sustainable farming practices and environmental stewardship programs.

Key trends indicate accelerated growth in sustainable and non-GMO soybean oil products, particularly in North America and Europe, where environmental consciousness and clean-label preferences drive comprehensive sustainable soybean oil adoption.

Technology integration trends toward precision agriculture with improved yield efficiency, supply chain traceability systems, and sustainable processing methods enable superior environmental positioning that meets evolving corporate sustainability standards and consumer transparency expectations.

However, the market thesis could face disruption if alternative protein sources significantly reduce soybean processing volumes or major regulatory changes affect biofuel mandates and renewable energy policies.

Analysis of the Soybean Oil Market by Key Country

Country	CAGR (2025-2035)
USA	4.2%
Mexico	3.7%
Germany	3.3%
South Korea	3.2%
France	3.2%
Japan	3.0%
UK	3.1%

The soybean oil market is gaining momentum worldwide, with the USA taking the lead thanks to strong soybean processing industry and established biofuel mandates. Close behind, Mexico benefits from expanding food processing sector and growing biofuel applications, positioning itself as a strategic growth hub in the Latin American region. Germany shows steady advancement, where integration of sustainable sourcing practices strengthens its role in the European vegetable oils and biofuel supply chain.

South Korea and France demonstrate equal growth momentum, focusing on food applications and renewable energy initiatives, signaling ambitions to capitalize on the growing opportunities in sustainable vegetable oil markets.

Japan stands out for its food processing sophistication and quality standards, and the UK continues to record consistent progress in sustainable sourcing and biofuel integration. Together, the USA and Mexico anchor the global expansion story, while the rest build stability and diversity into the market's growth path.

The report covers an in-depth analysis of 40+ countries; 7 top-performing countries are highlighted below.

USA Leads Global Market Expansion

The USA demonstrates the strongest growth potential in the soybean oil market with a CAGR of 4.2% through 2035. The country's leadership position stems from robust soybean processing industry, established biodiesel mandates, and strong food processing sector driving the adoption of domestic soybean oil production and sustainable biofuel applications.

Growth is concentrated in major soybean processing centers, including Iowa, Illinois, Indiana, and Nebraska, where processing facilities and biofuel producers are implementing comprehensive soybean oil utilization and renewable energy programs for enhanced energy security positioning.

Distribution channels through commodity traders and food ingredient suppliers expand coverage across food processing markets and biofuel production facilities throughout the country.

The country's emphasis on agricultural productivity and energy independence provides sustained demand for soybean oil innovation, including sustainable processing and advanced biofuel technologies.

Key market factors:

• Soybean processing expansion concentrated in agricultural centers with comprehensive commodity processing infrastructure development programs

• Energy independence leadership through established biofuel mandates and renewable energy adoption patterns
• Comprehensive agricultural ecosystem, including established processors and commodity distribution networks
• Innovation leadership featuring sustainable processing methods, advanced biofuel technologies, and integrated soybean oil utilization capabilities

Mexico Emerges as High-Growth Market

In Mexico City, Guadalajara, Monterrey, and agricultural regions, the adoption of comprehensive soybean oil products is accelerating across food processing and expanding biofuel sectors, driven by industrial development and increasing sustainable energy requirements.

The market demonstrates strong growth momentum with a CAGR of 3.7% through 2035, linked to comprehensive manufacturing development and increasing focus on food processing modernization and renewable energy applications.

Mexican processors are implementing soybean oil in food manufacturing and biofuel production to enhance energy security while meeting growing domestic demand for processed foods and sustainable transportation fuels.

The country's manufacturing growth and energy diversification create sustained demand for soybean oil products, while increasing emphasis on energy independence drives adoption of domestic biofuel production capabilities.

• Leading industrial centers, including Mexico City, Guadalajara, and processing regions, are driving soybean oil product adoption
• Energy diversification models enabling biofuel production expansion and food processing industry growth
• Manufacturing development trends accelerating adoption with established food processing and energy production capabilities
• Economic independence advantages through domestic biofuel production and food processing industry expansion

Germany Maintains Sustainable Energy Leadership

Germany's established renewable energy and sustainable sourcing sector demonstrates sophisticated implementation of soybean oil products, with documented case studies showing 25% increase in sustainable biofuel adoption through environmental stewardship programs and renewable energy initiatives.

The country's sustainable energy infrastructure in major cities, including Berlin, Hamburg, Munich, and Frankfurt, showcases integration of traditional German engineering excellence with modern renewable energy technologies, leveraging expertise in environmental responsibility and sustainable technology development.

German companies emphasize sustainability certification and renewable energy goals, creating demand for certified sustainable soybean oil products that support climate objectives and environmental responsibility maintenance. The market maintains steady growth through focus on renewable energy innovation and sustainable sourcing standards, with a CAGR of 3.3% through 2035.

Key development areas:

• Renewable energy companies and sustainable sourcing programs leading certified soybean oil adoption with comprehensive environmental initiatives

• Climate responsibility channels providing integrated solutions with 85% sustainable certification rates
• Innovation partnerships between German energy companies and sustainable soybean oil producers expanding responsible market reach
• Integration of traditional German engineering excellence and modern renewable energy responsibility practices

Europe Market Split by Country

The soybean oil market in Europe is projected to grow from USD 18.5 billion in 2025 to USD 27.0 billion by 2035, registering a CAGR of 3.8% over the forecast period. Germany is expected to maintain its leadership position with a 25.4% market share in 2025, declining slightly to 25.2% by 2035, supported by its strong renewable energy infrastructure, established sustainable sourcing culture, and comprehensive biofuel distribution networks serving major European markets.

France follows with a 22.7% share in 2025, projected to reach 22.8% by 2035, driven by comprehensive renewable energy modernization programs in Paris, Lyon, and other metropolitan areas implementing advanced sustainable energy retail experiences. The United Kingdom holds a 18.9% share in 2025, expected to maintain 18.7% by 2035 through the ongoing development of sustainable sourcing and biofuel applications.

Italy commands a 15.4% share, while Spain accounts for 11.3% in 2025. The Rest of Europe region is anticipated to gain momentum, expanding its collective share from 6.3% to 6.8% by 2035, attributed to increasing soybean oil adoption in Nordic countries and emerging Eastern European renewable energy markets implementing sustainable fuel standards.

Competitive Landscape of the Soybean Oil Market

The soybean oil market features approximately 30-40 meaningful players with moderate concentration, where the top three companies control roughly 18-24% of global market share through established soybean processing operations and extensive commodity distribution networks. Competition centers on processing capacity, supply chain efficiency, and sustainable sourcing rather than price competition alone.

Market leaders include ADM, Bunge, and Cargill, which maintain competitive advantages through comprehensive soybean processing portfolios, integrated supply chain operations, and deep expertise in commodity trading and global food ingredient distribution, creating strong customer partnerships and supply reliability capabilities. These companies leverage established North and South American processing networks and ongoing sustainability investments to defend market positions while expanding into adjacent vegetable oil categories and sustainable sourcing segments.

Challengers encompass Louis Dreyfus and COFCO, which compete through specialized regional applications and strong presence in key commodity and biofuel markets. Global commodity and processing specialists, including Wilmar, Soya Hellas, and Amaggi, focus on specific regional markets or processing technologies, offering differentiated capabilities in sustainable sourcing, regional processing, and specialized market positioning.

Regional players and processing cooperatives create competitive pressure through direct production capabilities and local market positioning, particularly in high-growth markets including Asia-Pacific where food processing growth and renewable energy requirements provide advantages in supply chain proximity and market responsiveness. Market dynamics favor companies that combine integrated processing operations with comprehensive sustainability certification and established commodity distribution relationships that address the complete soybean oil supply chain from farm production through end-user applications.

Global Soybean Oil Market - Stakeholder Contribution Framework

Soybean oil solutions represent a critical vegetable oil ingredient that enables food manufacturers, biofuel producers, and industrial processors to access versatile oils and co-product ingredients without purpose-grown oil crop limitations or supply constraints, typically providing superior processing efficiency, cost-effectiveness, and supply reliability that single-purpose oil crops cannot match from integrated protein-oil production systems.

With the market projected to grow from USD 74.0 billion in 2025 to USD 108.0 billion by 2035 at a 3.8% CAGR, these solutions offer compelling advantages - dual-purpose production efficiency, supply reliability, and application versatility - making them essential for food applications (63.0% market share), biofuel production (24.0% share), and diverse industrial formulations seeking reliable vegetable oil ingredients.

Scaling market penetration and sustainability practices requires coordinated action across soybean agriculture policy, sustainable farming standards, soybean processors, food and energy industry partners, and agricultural sustainability organizations.

How Governments Could Spur Local Production and Adoption?

• Sustainable Agriculture Programs: Include soybean cultivation in national agricultural development initiatives, providing targeted support for soybean farming communities and supporting sustainable farming methods through development financing and processing infrastructure grants.
• Energy Security & Trade Policy: Implement favorable treatment for renewable energy feedstock production, provide incentives for companies investing in biofuel processing and sustainable sourcing, and establish energy security standards that encourage domestic soybean oil utilization over imported alternatives.
• Regulatory Framework Development: Create standardized sustainability verification processes across food and energy applications, establish clear renewable energy feedstock certification frameworks for international trade, and develop traceability protocols that facilitate sustainable soybean oil commerce.
• Agricultural Development & Training: Fund sustainable farming programs, integrated crop management education, and processing technology improvements. Invest in agricultural extension services that bridge traditional soybean cultivation with modern sustainability standards and international market requirements.
• Market Access & Energy Policy: Establish procurement policies that support sustainable agriculture for government applications, assist farming cooperatives through preferential energy programs, and create regulatory environments that encourage innovation in sustainable soybean processing while supporting renewable energy goals.

How Industry Bodies Could Support Market Development?

• Sustainability Standards & Certification: Define standardized environmental metrics for soybean oil across food and energy applications, establish universal sustainability and traceability protocols, and create certification programs for responsible farming practices that consumers and businesses can trust.
• Market Education & Best Practices: Lead messaging that demonstrates soybean oil advantages, emphasizing dual-purpose production efficiency, supply reliability, and cost-effectiveness compared to single-purpose oil crop alternatives.
• Environmental Integration Standards: Develop interoperability standards for sustainability certification, responsible farming guidelines, and renewable energy platforms, ensuring seamless integration across different food and energy applications and international environmental markets.
• Professional Development: Run certification programs for sustainability specialists, processing managers, and sourcing experts on optimizing soybean oil applications, environmental verification, and sustainable sourcing practices in competitive commodity markets.

How Manufacturers and Technology Players Could Strengthen the Ecosystem?

• Advanced Processing Development: Develop next-generation soybean processing methods with enhanced sustainability capabilities, improved efficiency profiles, and responsible processing features that maintain cost-effectiveness while enabling superior environmental performance and reduced resource consumption.
• Sustainability Platforms: Provide comprehensive traceability systems that integrate blockchain verification, farming partnerships, environmental monitoring, and sustainability assurance, enabling food and energy brands to maximize sourcing transparency and environmental authenticity.
• Service & Support Networks: Offer flexible support programs for food and energy companies, including sustainability verification options, technical consultation services, and environmental guidance that keep soybean oil products current with corporate responsibility demands and regulatory expectations.
• Research & Development Networks: Build comprehensive R&D capabilities, collaborative sustainability programs, and environmental application systems that ensure soybean oil technologies maintain superior cost-effectiveness and consistent environmental responsibility across diverse food and energy applications.

How Suppliers Could Navigate the Shift?

• Diversified Application Portfolios: Expand soybean oil offerings across food (63.0% market dominance), biofuels (24.0% share), and industrial applications, with particular focus on refined products (86.0% grade share) and sustainable sourcing strategies.
• Geographic Market Development: Establish operations in high-growth markets like USA (4.2% CAGR) and Mexico (3.7% CAGR), while strengthening presence in established markets like Germany (3.3% CAGR) and South Korea (3.2% CAGR) through regional partnerships and sustainable processing capabilities.
• Technology-Enabled Services: Implement advanced traceability systems with sustainability verification, environmental monitoring, and supply reliability capabilities that differentiate service offerings and improve food and energy industry partnership satisfaction.
• Flexible Processing Models: Develop refined, crude, and certified sustainable soybean oil solutions that accommodate varying industry needs, from cost-effective food applications to premium environmentally-responsible products for demanding sustainability requirements.

How Investors and Financial Enablers Could Unlock Value?

• Supply Chain Expansion Financing: Provide growth capital for established companies like ADM, Bunge, and Cargill to expand sustainable processing capabilities and capacity, particularly in key producing regions with growing food and energy demands.
• Innovation Investment: Back startups developing advanced sustainable processing technologies, environmental preservation platforms, and renewable energy systems that enhance soybean oil industry innovation and competitive positioning.
• Regional Market Development: Finance market entry and expansion strategies for soybean oil companies establishing operations in high-growth regions, supporting farming partnerships that enhance sustainable sourcing while maintaining economic viability.
• Consolidation & Scale Opportunities: Support strategic acquisitions and supply chain consolidation that create economies of scale, improve sustainability capabilities, and enhance competitive positioning against fragmented regional vegetable oil providers across multiple geographic markets.

Key Players in the Soybean Oil Market

• ADM
• Bunge
• Cargill
• Louis Dreyfus
• COFCO
• Wilmar
• Soya Hellas
• Amaggi
• Perdue
• SIMEK

Scope of the Report

Item	Value
Quantitative Units	USD 74.0 Billion
End Use	Food, Biofuels, Industrial/Others
Grade	Refined, Crude
Distribution Channel	B2B Bulk, Retail
Regions Covered	North America, South America, Asia-Pacific, Europe, Middle East & Africa
Country Covered	USA, Mexico, Germany, South Korea, France, Japan, UK, and 40+ countries
Key Companies Profiled	ADM, Bunge, Cargill, Louis Dreyfus, COFCO, Wilmar, Soya Hellas, Amaggi, Perdue, SIMEK
Additional Attributes	Dollar sales by end use and grade categories, regional adoption trends across North America, South America, and Asia-Pacific, competitive landscape with soybean processors and commodity partners, farming sourcing patterns and producer relationships, integration with sustainability trends and renewable energy programs, innovations in processing technology and environmental responsibility systems, and development of specialized applications with traceability verification and sustainable positioning.

Soybean Oil Market by Segments

• End Use :

  • Food
  • Biofuels
  • Industrial/Others

• Grade :

  • Refined
  • Crude

• Distribution Channel :

  • B2B Bulk
  • Retail

• Region :

  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • ASEAN
    • Rest of Asia Pacific
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Spain
    • Nordic
    • BENELUX
    • Rest of Europe
  • Middle East & Africa
    • Kingdom of Saudi Arabia
    • Other GCC Countries
    • Turkey
    • South Africa
    • Other African Union
    • Rest of Middle East & Africa