Soybean Oil Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The soybean oil market size has grown strongly in recent years. It will grow from $62 billion in 2024 to $66.61 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to the industrialization of agriculture, demand for animal feed, food processing industry, biotechnology, and genetic engineering, global trade and market liberalization, and biofuel mandates and policies.

The soybean oil market size is expected to see strong growth in the next few years. It will grow to $87.63 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to population growth and urbanization, rising demand for protein, shifts in dietary patterns, climate change and weather risks, and health and nutrition. Major trends in the forecast period include increasing demand for protein, expansion of biofuel production, growing livestock industry, shifts in global trade dynamics and emerging markets, and dietary shifts.

The increasing demand for healthier food options is expected to drive the growth of the soybean oil market. Healthier food refers to nutrient-dense options that provide essential vitamins, minerals, and other beneficial nutrients. The demand for healthier food is being fueled by rising health awareness, changing lifestyles, and growing social and environmental concerns. Soybean oil plays a key role in promoting healthier food choices due to its lower saturated fat content and its high levels of omega-3 and omega-6 fatty acids, which support heart health and overall well-being. For example, a May 2022 online survey conducted by the International Food Information Council, a US-based non-profit organization, revealed that 52% of 1,005 American participants aged 18 to 80 followed a specific diet or eating pattern, an increase from the previous year. As a result, the growing demand for healthier food options is propelling the expansion of the soybean oil market.

Leading companies in the soybean oil market are adopting strategic partnership approaches to maintain competitiveness. Such partnerships involve leveraging mutual strengths and resources to achieve shared benefits and success. For instance, in July 2023, the Missouri Soybean Merchandising Council (MSMC) and Seedway LLC, a seed company, entered into a licensing agreement to advance SOYLEIC soybean cultivation. This collaboration aims to enhance the availability of non-GMO high oleic soybean oil across the United States, addressing the increasing demand for high-quality oils and expanding soybean production in regions like New York and Ohio.

In November 2022, Cargill Incorporated, a prominent food company, acquired Owensboro Grain Co., underscoring its commitment to modernize and expand its North American oilseeds network. This strategic move enables Cargill to meet the rising demand in food, feed, and renewable fuel markets while enhancing its customer experience. Owensboro Grain Co., a manufacturer of liquid and hydrogenated soybean oils, aligns with Cargill's objectives to cater to evolving market needs effectively.

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

North America was the largest region in the soybean oil market in 2024. 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, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the soybean oil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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).

Soybean oil, a vegetable oil derived from soybeans - a legume species native to East Asia - is widely utilized in cooking and food processing due to its neutral flavor and versatility. Rich in polyunsaturated fats, including omega-3 and omega-6 fatty acids, soybean oil offers benefits for heart health when consumed in moderation.

The primary product types of soybean oil include organic soybean oil and conventional soybean oil. Organic soybean oil is extracted from soybeans cultivated using organic farming practices. It encompasses various ingredient types such as omega-3 fatty acids, vitamin E, low-saturated fats, and polyunsaturated fats. Distribution channels for soybean oil range from supermarkets, hypermarkets, convenience stores, wholesalers, distributors, to neighborhood stores. Its applications span a wide range, including its use in margarine, frozen foods, salad dressings, shortenings, baked goods, cosmetics and personal care products, animal agriculture, among others. End users comprise both commercial establishments and households.

The soybean oil market research report is one of a series of new reports that provides soybean oil market statistics, including soybean oil industry global market size, regional shares, competitors with a soybean oil market share, detailed soybean oil market segments, market trends and opportunities, and any further data you may need to thrive in the soybean oil industry. This soybean oil market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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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