Soybean Oil Market to be Driven by Health-Related Concerns Among Consumers

Extracted from soybean, soybean oil is extensively used for household cooking and in great demand from restaurants as well. This oil has an important role in the preparation of shortenings and margarine. A number of factors are driving the global soybean oil market; these include the emulsifying ability of the oil and its low-calorie content. Soybean oil has no trans-fat and negligible saturated fat, making it a preferred choice from among all other oils. The soybean market is anticipated to grow in the years to come owing to a rise in the demand for food, growing population, improvement in retailing network, rapid urbanization, and increasing soy crop yields.

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The report is a study of the global soybean oil market, its present and future position. It discusses factors that can affect the market movements and changing consumer taste and trends. The study elaborates on the growth plans and strategies adopted by manufacturers of soybean oil, including their expansion plans and new product launches. Key companies are profiled in the report and it covers the company’s business and financial overview.

Soybean Oil Market: Trends and Opportunities

The growing awareness among consumers regarding advantages of soybean oil in comparison to other vegetable edible oils has driven its demand significantly. The health-related concerns among consumers is likely to shift their food preferences and this will benefit the global soybean market because this oil is a source of omega-3 fatty acids and vitamin E. On the other hand, the availability of substitutes such as olive, rice bran, palm, sunflower, and rapeseed oil in abundance is limiting the demand for soybean oil.

The versatility of soybean oil is expected to emerge as an opportunity and attract a large number of manufacturers in the food products sector across the world. Increasing number of channels that facilitate the sales of soybean oil such as departmental stores, hypermarkets and supermarket, and convenience stores is also expected to boost the market in the coming years. Apart from its uses in cooking, soybean oil has its applications in lubricants, bio-diesel, industrial paints, solvents, adhesives, cleaners, oleo chemicals, and bio-composites. As such, the demand for this oil will continue to grow and the market will witness a significant rise in the coming years.

Soybean Oil Market: Region-wise Outlook

The global soybean oil market is segmented on the basis of geography into Asia Pacific, North America, Europe, and the Rest of the World. China, in Asia Pacific is the leading producer of soybean oil followed by India and Japan. The U.S. is the leading producer of this oil in North America. Argentina in South America is also popular for its soybean oil production.

Key Players Mentioned in the Report

The report profiles key players in the soybean oil industry such as Cargill Foods Inc., Adani Wilmar Limited, and Ruchi Soya Industries. Information regarding their strategic partnerships and mergers and acquisitions have been included in the report. 

Increasing Awareness about Benefits of Soybean Oil to Fuel its Demand, Reports TMR

A study by Transparency Market Research (TMR), titled “Soybean Oil Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast 2016 - 2023,” presents a comprehensive assessment of this market on the basis of market trends, growth prospects, driving forces, restrictions, and opportunities.

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According to the study, the increasing awareness among consumers regarding the benefits of soybean oil compared to traditional edible oil has driven its demand significantly. It further states that the popularity of soybean oil has been increasing remarkably due to its good emulsifying ability and low-calorie content. As a result, it is witnessing a higher demand than other vegetable oils available globally. The absence of trans-fat and the minimal presence of saturated fat is also boosting its adoption among consumers considerably.

Going forward, the surge in health-related concerns among consumers is likely to shift their food preferences towards healthy products. Soybean oil, being a key source of Vitamin E and omega 3-fatty acids, is expected to gain significant momentum globally over the forecast period.

On the other hand, the availability of substitutes in abundance is limiting the demand for soybean oil. However, the versatility of this oil is anticipated to attract a large number of food product manufacturers across the world, creating growth opportunities for the market, notes the research study.

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In this report, the global market for soybean oil has been analyzed on the basis of application and its geographical spread. Based on application, the market can be categorized into salad dressing preparation, frozen foods, meat products, mayonnaise preparation, shortenings and margarine preparation, and the preparation of commercially baked goods. Based on geography, the market has been segmented into Asia Pacific, Eastern Europe, Western Europe, North America, Latin America, and the Middle East and Africa.

The study also presents the analysis of the competitive landscape in the global market for soybean oil by reviewing profiles of key players in order to determine the prevalent market hierarchy. As per the report, the market is moderately fragmented. Leading producers are concentrating on product innovations and advancements in current offerings in order to strengthen their positions in this market. Adani Wilmar Ltd., Cargill Foods Inc., and Ruchi Soya Industries Ltd. are the key producers of soybean oil across the world, states the report.

The main objective of this research report is to provide a better understanding of the existing as well as the future status of the worldwide market for soybean oil to market players and assist them in making gainful strategies for the further expansion of their business.

Soybean Oil Market - Global Industry Size, Market Share, Forecast 2016 – 2023

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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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.