Market Size of Soybean Oil Industry
| 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
*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.
