Soybean Oil Market Size

Statistics for the 2023 & 2024 Soybean Oil market size, created by Mordor Intelligence™ Industry Reports. Soybean Oil size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Soybean Oil Industry

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 Soybean Oil Market Overview
Study Period 2019 - 2029
Market Size (2024) USD 93.17 Billion
Market Size (2029) USD 155.86 Billion
CAGR (2024 - 2029) 10.84 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

 Soybean Oil Market Key Players

*Disclaimer: Major Players sorted in no particular order

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Soybean Oil Market Analysis

The Soybean Oil Market size is estimated at USD 93.17 billion in 2024, and is expected to reach USD 155.86 billion by 2029, growing at a CAGR of 10.84% during the forecast period (2024-2029).

  • The growing awareness among consumers regarding the advantages of soybean oil, in comparison to other vegetable edible oils, has driven its demand significantly.
  • China, the United States, Brazil, and India are the major countries in the world that consume soybean oil.
  • Low cost, easy availability, and the eco-friendly nature of soybean oil have further facilitated its use in various sectors, such as food, industrial, and feed. Soybean oil is also used in various food and industrial applications, such as for production of caulks and mastics, which are useful as adhesives or sealants.

Soybean Oil Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)