Report Asia - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

Asia - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights

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Asia: Soybean Oil Market 2024

Soybean Oil Market Size in Asia

In 2022, the Asian soybean oil market increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Soybean Oil Production in Asia

In value terms, soybean oil production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Soybean Oil Exports

Exports in Asia

For the third consecutive year, Asia recorded growth in shipments abroad of soybean oil, which increased by X% to X tons in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, soybean oil exports skyrocketed to $X in 2022. Overall, exports posted a strong increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

In 2022, Turkey (X tons) represented the key exporter of soybean oil, constituting X% of total exports. It was distantly followed by Thailand (X tons), Malaysia (X tons), China (X tons), Vietnam (X tons), Nepal (X tons) and Saudi Arabia (X tons), together achieving a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to soybean oil exports from Turkey stood at X%. At the same time, Nepal (X%), Thailand (X%) and China (X%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%), Saudi Arabia (X%) and Vietnam (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), Nepal (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.), Malaysia (X p.p.) and Vietnam (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Thailand ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Nepal, China, Vietnam and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

Nepal, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, increasing by X% against the previous year. Export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, soybean oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nepal ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (X%), while the other leaders experienced more modest paces of growth.

Soybean Oil Imports

Imports in Asia

After three years of growth, purchases abroad of soybean oil decreased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, soybean oil imports expanded rapidly to $X in 2022. In general, imports, however, enjoyed noticeable growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

India was the largest importing country with an import of around X tons, which recorded X% of total imports. Bangladesh (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%) and China (X%). Nepal (X tons), Pakistan (X tons) and Iran (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to soybean oil imports into India stood at X%. At the same time, Pakistan (X%) and Nepal (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. South Korea and Bangladesh experienced a relatively flat trend pattern. By contrast, Iran (X%) and China (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Pakistan increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported soybean oil in Asia, comprising X% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

In India, soybean oil imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bangladesh (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, picking up by X% against the previous year. Import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, soybean oil import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

China remains the largest soybean oil consuming country in Asia, accounting for 60% of total volume. Moreover, soybean oil consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The third position in this ranking was taken by Bangladesh, with a 4.1% share.
China constituted the country with the largest volume of soybean oil production, accounting for 74% of total volume. Moreover, soybean oil production in China exceeded the figures recorded by the second-largest producer, India, more than tenfold. The third position in this ranking was taken by Thailand, with a 2.3% share.
In value terms, the largest soybean oil supplying countries in Asia were Turkey, Thailand and Malaysia, together accounting for 55% of total exports. Nepal, China, Vietnam and Saudi Arabia lagged somewhat behind, together comprising a further 34%.
In value terms, India constitutes the largest market for imported soybean oil in Asia, comprising 63% of total imports. The second position in the ranking was held by Bangladesh, with a 7% share of total imports. It was followed by South Korea, with a 6.3% share.
The export price in Asia stood at $1,605 per ton in 2022, increasing by 26% against the previous year.
In 2022, the import price in Asia amounted to $1,479 per ton, growing by 21% against the previous year.

This report provides an in-depth analysis of the soybean oil market in Asia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 237 - Oil of Soybeans

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Asia, split by region and country
  • Trade (exports and imports) in Asia
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY
  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Afghanistan
    • Armenia
    • Azerbaijan
    • Bahrain
    • Bangladesh
    • Bhutan
    • Brunei Darussalam
    • Cambodia
    • China
    • Hong Kong SAR
    • Macao SAR
    • Cyprus
    • Georgia
    • India
    • Indonesia
    • Iran
    • Iraq
    • Israel
    • Japan
    • Jordan
    • Kazakhstan
    • Kuwait
    • Kyrgyzstan
    • Lebanon
    • Malaysia
    • Maldives
    • Mongolia
    • Myanmar
    • Nepal
    • Oman
    • Pakistan
    • Palestine
    • Philippines
    • Qatar
    • Saudi Arabia
    • Singapore
    • South Korea
    • Sri Lanka
    • Syrian Arab Republic
    • Taiwan (Chinese)
    • Tajikistan
    • Thailand
    • Timor-Leste
    • Turkey
    • Turkmenistan
    • United Arab Emirates
    • Uzbekistan
    • Vietnam
    • Yemen
    • Lao People's Democratic Republic
    • Democratic People's Republic of Korea
  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023
  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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