Rich in various fatty acids and vitamins, soybean oil represents a versatile product with numerous applications in both the food and non-food industries. Some of the industrial applications of soybean oil is in the production of animal feed, candles, soaps, biodiesels, industrial lubricants, etc.
Arlington, VA -- (SBWIRE) -- 04/19/2017 -- A latest report by IMARC Group, titled "Soybean Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022", finds that the global soybean oil market has grown at a CAGR of around 3% during 2009-2016 with the consumption volumes reaching 47 Million Tons in 2016. Soybean oil is extracted from the seeds soybean and represents the second most consumed oil after palm oil. It is rich in a number of fatty acids along with a variety of plant sterols, vitamins and minerals which are good for human health. Some of the several health benefits offered by soybean oil include regulating cholesterol levels and reducing the risk of heart diseases, boosting immunity, improving bone health, preventing and controlling Alzheimer's disease and protecting the skin cell membranes from infections. Apart from being used for human consumption, soybean oil also finds applications in the production of animal feed. Some other industrial applications of soybean oil include the production of candles, soaps, insecticides, caulks and mastics, bio-composites, biodiesels, cleaners, industrial lubricants, paints, solvents, crayons, inks, hydraulic fluids and foams.
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According to the report, the global soybean oil market is currently being driven by a number of growth inducing factors. The low cost and easy availability of soybean oil along with its numerous health benefits and diverse industrial applications have led to an increase in the demand for soybean oil worldwide. Other market drivers include growing environmental and health concerns, increasing disposable incomes and population growth. As a result, the market is expected to grow steadily during the forecast period.
The report provides a thorough analysis of the global soybean oil market. The report has analysed the market on the basis of end-use covering the food, industrial and animal feed sectors. Currently, the food sector accounts for the majority of the total global consumption, followed by industrial and animal feed applications. The industrial sector, on the other hand, represents the fastest growing segment. The report has segmented the market on a geographical basis and finds that China represents both the largest producer and consumer of soybean oil. In 2016, China accounted for more than a fourth of the total global production and around nearly a third of the total global consumption of soybean oil. Other major producers include Iran, Morocco, Mexico, European Union, India, Argentina, Brazil and the US. The report has further analysed the competitive landscape of the market. Some of the key players covered in the report are CHS, AG Processing Inc., Cargill, ADM and Bunge.
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The report provides a detailed roadmap for setting up a soybean oil processing plant. The study, which has been done by one of the world's leading research and advisory firms, covers all the essential aspects of the soybean oil market. This ranges from a comprehensive view of the market to minute details of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the soybean oil industry in any manner.
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