Global Soybean Oil Industry – Global Market Share, Trends, Analysis,Forecast 2016 – 2023
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.
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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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