Soybean oil currently represents the second most important vegetable oil in the world accounting for nearly one-fifth of the global consumption of edible oils. A well balanced oil with low saturated and high polyunsaturated fats, soybean oil is a good source of phytosterols, vitamin E and omega-3 and omega-6 fatty acids. Besides being highly nutritious, it also offers innumerable health perks. It lowers cholesterol levels, improves heart health, boosts immunity, prevents osteoporosis and reduces cognitive disorders.
According to a new report by Expert Market Research, the global soybean oil market reached a production volume of 47.1 Million Tons in 2016. The market is presently gaining impetus due to a number of factors such as rising global population, growing health consciousness among the consumers and growing food industry. Low cost, easy availability and eco-friendly nature of soybean oil has further facilitated its use in various sectors such as food, industrial and feed.
Key findings from the report:
- Major end-use sectors of soybean oil are the food, industrial and feed sectors.
- Considered as one of the healthiest cooking oils, the majority of the soybean oil is used by the food sector for cooking and as a condiment in salads. In the industrial sector, it is used in the production of adhesives, insecticides, candles, waxes, printing inks, coatings, lubricants, pharmaceutical products, hydraulic fluids, plastics and speciality products. In the feed sector, soybean oil adds to the energy density of the feed and improves feed utilisation efficiency.
- Country-wise, China represented both the largest producer and consumer of soybean oil. Other major markets include the United States, Brazil, Argentina, EU -27, India, Mexico and others.
- The global soybean oil market is surrounded by a number of global and national players. The global players use their influence of large-scale production, trading and marketing to their advantage. Some of the key players operating in the market include Bunge, ADM Cargill, Ag Processing Inc., CHS, etc.
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Expert Market Research has analyzed the global soybean oil market according to end-use, key countries and major players:
Market breakup by End-Use
Breakup by Country
- The United States
- EU -27
- Ag Processing Inc.
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