Latest Report Update: May 21, 2021

U.S. - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact

Licenses

You will receive a PDF copy of the report by email within 24 hours (Mon - Fri).

By clicking «Buy the Report», you agree to our Terms of Service, Privacy Policy and Licenses. We'll occasionally send you account related emails.

U.S.: Soybean Oil Market Overview 2021

Soybean Oil Market Size in the U.S.

In 2020, the U.S. soybean oil market increased by X% to $X, rising for the fifth year in a row after three years of decline. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2011 when the market value increased by X% y-o-y. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2020, consumption remained at a lower figure.

Soybean Oil Production in the U.S.

In value terms, soybean oil production stood at $X in 2020. The total output value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the production volume increased by X% y-o-y. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2020, production failed to regain the momentum.

Soybean Oil Exports

Exports from the U.S.

Soybean oil exports from the U.S. soared to X tonnes in 2020, growing by X% compared with 2019 figures. In general, total exports indicated a temperate expansion from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 when exports increased by X% year-to-year. Exports peaked at X tonnes in 2010; however, from 2011 to 2020, exports remained at a lower figure.

In value terms, soybean oil exports soared to $X in 2020. Over the period under review, exports showed a notable expansion. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Exports peaked at $X in 2010; however, from 2011 to 2020, exports remained at a lower figure.

Exports by Country

South Korea (X tonnes), the Dominican Republic (X tonnes) and Mexico (X tonnes) were the main destinations of soybean oil exports from the U.S., together comprising X% of total exports. These countries were followed by Guatemala, Colombia, Morocco, Venezuela, Canada, Egypt, China, Peru, Jamaica and Algeria, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Colombia, while exports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), the Dominican Republic ($X) and Mexico ($X) were the largest markets for soybean oil exported from the U.S. worldwide, with a combined X% share of total exports. These countries were followed by Guatemala, Colombia, Morocco, Venezuela, Canada, Egypt, China, Peru, Jamaica and Algeria, which together accounted for a further X recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average soybean oil export price amounted to $X per tonne, rising by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the average export price increased by X% year-to-year. Over the period under review, average export prices hit record highs at $X per tonne in 2012; however, from 2013 to 2020, export prices failed to regain the momentum.

Average prices varied somewhat for the major export markets. In 2020, the countries with the highest prices were Canada ($X per tonne) and Mexico ($X per tonne), while the average price for exports to Guatemala ($X per tonne) and China ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Canada, while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oil Imports

Imports into the U.S.

In 2020, purchases abroad of soybean oil decreased by -X% to X tonnes for the first time since 2014, thus ending a five-year rising trend. Overall, imports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2008 when imports increased by X% y-o-y. Imports peaked at X tonnes in 2019, and then reduced remarkably in the following year.

In value terms, soybean oil imports reduced dramatically to $X in 2020. In general, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2008 when imports increased by X% year-to-year. Over the period under review, imports reached the maximum at $X in 2019, and then fell remarkably in the following year.

Imports by Country

In 2020, Canada (X tonnes) was the main supplier of soybean oil to the U.S., with a X% share of total imports. It was followed by Turkey (X tonnes), with a X% share of total imports. The third position in this ranking was occupied by Mexico (X tonnes), with a X% share.

From 2007 to 2020, the average annual growth rate of volume from Canada totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+X% per year) and Mexico (+X% per year).

In value terms, Canada ($X) constituted the largest supplier of soybean oil to the U.S., comprising X% of total imports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2007 to 2020, the average annual growth rate of value from Canada stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+X% per year) and Turkey (+X% per year).

Import Prices by Country

In 2020, the average soybean oil import price amounted to $X per tonne, with an increase of X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 an increase of X% against the previous year. As a result, import price attained the peak level of $X per tonne. From 2012 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Mexico ($X per tonne), while the price for Canada ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Mexico, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for soybean oil in the world?
+
China (40M tonnes) remains the largest soybean oil consuming country worldwide, accounting for 48% of total volume. Moreover, soybean oil consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (10M tonnes), fourfold. Brazil (9.4M tonnes) ranked third in terms of total consumption with a 11% share.
What are the largest producers of soybean oil in the world?
+
The country with the largest volume of soybean oil production was China (39M tonnes), comprising approx. 48% of total volume. Moreover, soybean oil production in China exceeded the figures recorded by the second-largest producer, the U.S. (11M tonnes), threefold. The third position in this ranking was occupied by Brazil (10M tonnes), with a 12% share.
What are the leading suppliers of soybean oil to the U.S.?
+
In value terms, Canada ($97M) constituted the largest supplier of soybean oil to the U.S., comprising 88% of total imports. The second position in the ranking was occupied by Mexico ($5.2M), with a 4.7% share of total imports. It was followed by Turkey, with a 3.6% share.
What are the leading importers of soybean oil from the U.S.?
+
In value terms, the largest markets for soybean oil exported from the U.S. were South Korea ($235M), the Dominican Republic ($121M) and Mexico ($97M), together accounting for 46% of total exports. These countries were followed by Guatemala, Colombia, Morocco, Venezuela, Canada, Egypt, China, Peru, Jamaica and Algeria, which together accounted for a further 43%.
What is the average export price for soybean oil in the U.S.?
+
The average soybean oil export price stood at $802 per tonne in 2020, with an increase of 4.7% against the previous year.
What is the average import price for soybean oil in the U.S.?
+
The average soybean oil import price stood at $820 per tonne in 2020, with an increase of 5.1% against the previous year.

Product coverage:
• FCL 237 - Oil of Soybeans

This report provides an in-depth analysis of the soybean oil market in the U.S.. 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 2025.


Country coverage:
• USA

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• 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. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

Webinar: Global Ethanol Market - Statistics, Trends, and Outlook



Join our live webinar to get insights into the global ethanol market.



Thursday, June 24th, 2021 @ 04:00 pm ET


Register

Webinar: Global Coal Market - Statistics, Trends, and Outlook



Join our live webinar to get insights into the global сoal market.



Thursday, July 15th, 2021 @ 04:00 pm ET


Register

Webinar: Global Beef Market - Statistics, Trends, and Outlook



Join our live webinar to get insights into the global beef market.



Thursday, September 16th, 2021 @ 04:00 pm ET


Register
Ready to Get Started?
We can help you conduct market research and write a report using the most reliable data