Soybean
oil is a vegetable oil extracted from soybeans. Soybean oil is mainly
used in the household cooking and in restaurants as one of the
important ingredients for cooking.
Soybean
oil has major usage in preparing margarine and shortenings. The
market for soybean oil can be segmented on the basis of its
applications such as, in Mayonnaise, salad dressing, frozen foods,
meat products and commercially baked goods.
The
Soybean
oil market can also be segmented geographically into North
America, APAC, Europe and Rest of the world (RoW) regions.
The
soybean oil market is expected to grow with a single digit CAGR from
2013 to 2019.
The
key driver of this market is the good emulsifying ability of the
soybean oil. The soybean oil is considered to be healthy option due
to lesser calories than conventional edible oils. Therefore the
preference for soybean oil is more than the other type of vegetable
oil present in the market. Soybean oil is low in saturated fat, and
has no Trans fat , moreover it is a major source of omega3-fatty
acids and Vitamin E. The growing health concerns, changing life
styles and chaing food patterns among consumers to use healthy
products in their daily diet are expected to support the growth in
this market. Manufacturers are focusing more on the innovation to
make oil healthy and tasty. The versatility and competitive price
associated with soybean oil is major driver to attract maximum number
of food manufacturers. However the presence of large number of
substitutes is one of the major factor limiting the growth in the
soybean oil market.
The
distribution channel includes hypermarkets/supermarket, departmental
stores and convenience stores among others.
Some
of the key players Cargill Foods Inc., Adani wilmar Limited, Ruchi
Soya Industries Ltd. Among others.
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