According to a new report by Expert Market Research, the global soybean oil market reached a volume of 56 million tons in 2019. 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.
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Key findings from the report:
1. Major end-use sectors of soybean oil are the food, industrial and feed sectors.
2. 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.
3. 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.
4. 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 Limited, The Archer Daniels Midland Company, Cargill, Incorporated, Ag Processing Inc A Cooperative, CHS Inc., and among others.
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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
1. Food
2. Industrial
3. Feed
Breakup by Country
1. China
2. The United States
3. Brazil
4. Argentina
5. EU -27
6. India
7. Mexico
8. Other
Competitive Landscape & Supplier Analysis
1. Bunge Ltd (NYSE: BG)
2. Archer Daniels Midland Co (NYSE: ADM)
3. Cargill, Incorporated
4. Ag Processing Inc A Cooperative
5. CHS Inc.
6. Others
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