Global Soybean Oil Market Overview:
Soybean oil is widely used for cooking at home and much in demand by restaurants. It is extracted from soybeans. This oil plays an important role in the preparation of butter and margarine. A series of factors determine the world market for soybean oil. These include the emulsifying power of the oil and its low caloric content. Soybean oil contains no trans fats and insignificant saturated fats, making it a preferred choice among all other oils. The soybean market is expected to grow in the coming years as a result of increased demand for food, population growth, and improvement of the retail network, rapid urbanization and increased production of soybean crops.
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Global Soybean Oil Market Drivers and Restraints:
The increased awareness of consumers about the benefits of soybean oil over other edible vegetable oils has strongly motivated its demand. It is likely that consumer health concerns will change their food preferences, which will benefit the global soybean market because it is a source of omega-3 and vitamin E fatty acids. In addition, the availability of substitutes such as the abundance of Rice bran oil, palm oil, sunflower oil and rapeseed limit the demand for soybean oil.
The versatility of soybean oil should become an opportunity and attract many manufacturers in the food sector around the world. An increasing number of channels that facilitate the sale of soybean oil, such as department stores, hypermarkets, supermarkets and convenience stores, should also boost the market in the coming years. In addition to its cooking uses, soybean oil is used in lubricants, biodiesel, industrial paints, solvents, adhesives, cleaners, oleochemicals and bio-composites. As such, the demand for this oil will continue to grow significantly in the coming years.
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Global Soybean Oil Market Geographical Segmentation:
The global soybean oil market is geographically segmented in Asia Pacific, North America, Europe and the rest of the world. China in Asia-Pacific is the main producer of soybean oil, followed by India and Japan. The United States is the largest producer of this oil in North America. Argentina in South America is also popular for its production of soybean oil.
Key players mentioned in this Global Soybean Oil Market Report are:
Adani Wilmar Limited, Cargill Foods Inc., and Ruchi Soya Industries are the major players of the market among many others.
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