Soybean Oil Market Report 2026

The soybean oil market size has grown strongly in recent years. It will grow from $66.11 billion in 2025 to $70.67 billion in 2026 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to expansion of soybean cultivation acreage, rising consumption of vegetable oils, increased use in processed food manufacturing, growth of animal feed applications, established global soybean trade networks.

The soybean oil market size is expected to see strong growth in the next few years. It will grow to $88.86 billion in 2030 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to growing demand for healthier cooking oils, increasing preference for plant-based fats, expansion of organic food consumption, rising use in bio-based personal care products, growing demand from emerging food markets. Major trends in the forecast period include increasing demand for organic and non-gmo soybean oil, rising use of high-oleic soybean oil variants, expansion of soybean oil in food processing applications, growing adoption in personal care formulations, enhanced focus on traceability and quality standards.

The rising demand for healthier food options is anticipated to drive the growth of the soybean oil market in the coming years. Healthier food includes nutrient-rich products that deliver essential vitamins, minerals, and other beneficial nutrients. The increasing preference for healthier food is driven by greater health awareness, evolving lifestyles, and growing social and environmental concerns. Soybean oil plays an important role in healthier dietary choices due to its lower saturated fat content and its richness in omega-3 and omega-6 fatty acids, which support improved heart health and overall well-being. For example, in May 2023, the International Food Information Council (IFIC), a US-based nonprofit organization focused on food and health research, reported in its annual Food and Health Survey that 52% of American adults followed a specific eating pattern or diet in 2023. Among boomers, this figure increased to 41% from 29% in 2022, with the most commonly reported eating patterns including high protein at 18%, mindful eating at 17%, calorie counting at 12%, clean eating at 12%, and intermittent fasting at 12%. Consequently, the growing preference for healthier food choices is fueling the expansion of the soybean oil market.

Key players operating in the soybean oil market are increasingly adopting strategic partnership strategies to remain competitive. Strategic partnerships involve companies collaborating by leveraging shared resources and complementary strengths to achieve mutual growth and success. For instance, in July 2023, the Missouri Soybean Merchandising Council (MSMC), a US-based organization managing Missouri soy checkoff investments, and Seedway LLC, a US-based seed company, entered into a new licensing agreement that marked a major advancement for SOYLEIC soybean cultivation. This agreement expanded the availability of non-GMO high-oleic soybean oil across the United States. The initiative addresses the rising demand for premium-quality oils by increasing soybean production in New York and Ohio, thereby improving the supply and accessibility of heart-healthy, high-oleic soybean oil.

In March 2024, Bunge Global SA, a US-based agribusiness company, entered into a partnership with Chevron Corporation to develop a new oilseed-processing facility aimed at increasing the production of vegetable oils used as renewable fuel feedstocks. Through this collaboration, Bunge Global SA and Chevron Corporation seek to combine Bunge’s oilseed-processing capabilities with Chevron’s fuels expertise to enhance processing efficiency and capacity, optimize renewable oil feedstock supply chains, and provide a more sustainable and scalable supply of vegetable oils and protein meals for feed and fuel markets. Chevron Corporation is a US-based energy company engaged in petroleum exploration and production as well as the development and marketing of renewable transportation fuels.

Major companies operating in the soybean oil market are Cargill Incorporated, Archer Daniels Midland Company, Wilmar International Limited, Bunge Limited, Louis Dreyfus Company, Ruchi Soya Industries Limited, DuPont de Nemours Inc, Ajinomoto Co. Inc., DSM Integrated, Kerry Group plc, Unilever plc, Associated British Foods, SunOpta Inc., Ag Processing Inc., Parrish and Heimbecker Limited, Nisshin OilliO Group Ltd, Pulmuone Foods, Bulk Apothecary, House Foods America's, Devansoy Inc., Blue Diamond Growers, Vitasoy International Holdings Limited.

North America was the largest region in the soybean oil market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the soybean oil market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the soybean oil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The soybean oil market consists of sales of soybean cooking oil, biodiesel, soybean oil blends, and crude soybean oil. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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