Report World - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights for 499$
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World - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights
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Global Soybean Oil Market 2023

Soybean Oil Market Size

The global soybean oil market stood at $X in 2021, surging by 4.7% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Global consumption peaked in 2021 and is likely to see gradual growth in years to come.

Soybean Oil Production

In value terms, soybean oil production contracted to $X in 2021 estimated in export price. In general, production recorded a mild shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 13%. Over the period under review, global production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Soybean Oil Exports

Exports

In 2021, shipments abroad of soybean oil decreased by -2.5% to X tons for the first time since 2018, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2015 when exports increased by 24%. Over the period under review, the global exports reached the maximum at X tons in 2020, and then contracted in the following year.

In value terms, soybean oil exports surged to $X in 2021. In general, total exports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +80.5% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Argentina was the largest exporting country with an export of around X tons, which recorded 37% of total exports. It was distantly followed by Brazil (X tons), the United States (X tons) and the Netherlands (X tons), together mixing up a 24% share of total exports. Paraguay (X tons), Bolivia (X tons), Spain (X tons), Russia (X tons), Turkey (X tons), Ukraine (X tons), Germany (X tons) and Italy (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to soybean oil exports from Argentina stood at +2.4%. At the same time, Turkey (+63.5%), Paraguay (+18.4%), Italy (+17.2%), Ukraine (+17.1%), Russia (+16.5%), Bolivia (+7.9%) and the Netherlands (+4.2%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +63.5% from 2012-2021. Brazil experienced a relatively flat trend pattern. By contrast, Spain (-2.2%), the United States (-3.0%) and Germany (-7.9%) illustrated a downward trend over the same period. While the share of Paraguay (+3.2 p.p.), Russia (+2.5 p.p.) and Turkey (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Spain (-2.2 p.p.), Germany (-2.7 p.p.), the United States (-3.9 p.p.) and Brazil (-4.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) remains the largest soybean oil supplier worldwide, comprising 36% of global exports. The second position in the ranking was taken by Brazil ($X), with a 13% share of global exports. It was followed by the United States, with a 5.9% share.

In Argentina, soybean oil exports expanded at an average annual rate of +2.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (-0.3% per year) and the United States (-2.9% per year).

Export Prices by Country

In 2021, the average soybean oil export price amounted to $X per ton, picking up by 59% against the previous year. In general, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Spain ($X per ton) and the United States ($X per ton), while Paraguay ($X per ton) and Bolivia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+1.7%), while the other global leaders experienced more modest paces of growth.

Soybean Oil Imports

Imports

In 2021, overseas purchases of soybean oil decreased by -2.6% to X tons for the first time since 2018, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 24%. Over the period under review, global imports reached the peak figure at X tons in 2020, and then dropped slightly in the following year.

In value terms, soybean oil imports soared to $X in 2021. In general, total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +74.6% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, India (X tons) represented the key importer of soybean oil, constituting 27% of total imports. It was distantly followed by China (X tons), Bangladesh (X tons), Algeria (X tons), Peru (X tons) and Morocco (X tons), together comprising a 29% share of total imports. The following importers - South Korea (X tons), Colombia (X tons), Nigeria (X tons), Poland (X tons) and the UK (X tons) - together made up 11% of total imports.

From 2012 to 2021, average annual rates of growth with regard to soybean oil imports into India stood at +13.9%. At the same time, Nigeria (+102.8%), Poland (+14.0%), Peru (+6.2%), Algeria (+4.6%), Morocco (+4.5%), South Korea (+3.2%), Colombia (+2.8%) and the UK (+2.6%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in the world, with a CAGR of +102.8% from 2012-2021. Bangladesh experienced a relatively flat trend pattern. By contrast, China (-5.4%) illustrated a downward trend over the same period. India (+16 p.p.) and Nigeria (+2 p.p.) significantly strengthened its position in terms of the global imports, while Bangladesh and China saw its share reduced by -1.6% and -9.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported soybean oil worldwide, comprising 30% of global imports. The second position in the ranking was taken by China ($X), with a 6.7% share of global imports. It was followed by Bangladesh, with a 5.8% share.

In India, soybean oil imports expanded at an average annual rate of +14.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (-8.2% per year) and Bangladesh (-0.4% per year).

Import Prices by Country

In 2021, the average soybean oil import price amounted to $X per ton, picking up by 56% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Global import price peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+0.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for soybean oil in the world?
+
The countries with the highest volumes of consumption in 2021 were China, the United States and Brazil, together comprising 61% of global consumption.
What are the largest producers of soybean oil in the world?
+
The countries with the highest volumes of production in 2021 were China, Brazil and the United States, together comprising 64% of global production.
What are the leading suppliers of soybean oil in the world?
+
In value terms, Argentina remains the largest soybean oil supplier worldwide, comprising 36% of global exports. The second position in the ranking was taken by Brazil, with a 13% share of global exports. It was followed by the United States, with a 5.9% share.
What are the leading importers of soybean oil in the world?
+
In value terms, India constitutes the largest market for imported soybean oil worldwide, comprising 30% of global imports. The second position in the ranking was taken by China, with a 6.7% share of global imports. It was followed by Bangladesh, with a 5.8% share.
What is the average export price for soybean oil in the world?
+
In 2021, the average soybean oil export price amounted to $1,196 per ton, growing by 59% against the previous year.
What is the average import price for soybean oil in the world?
+
In 2021, the average soybean oil import price amounted to $1,211 per ton, growing by 56% against the previous year.

This report provides an in-depth analysis of the global soybean oil market. 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

Data coverage:
• Global market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Global production, split by region and country
• Global trade (exports and imports)
• 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
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

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. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2012–2022
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

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

United States
China
Japan
Germany
United Kingdom
France
Brazil
Italy
Russian Federation
India
Canada
Australia
Republic of Korea
Spain
Mexico
Indonesia
Netherlands
Turkey
Saudi Arabia
Switzerland
Sweden
Nigeria
Poland
Belgium
Argentina
Norway
Austria
Thailand
United Arab Emirates
Colombia
Denmark
South Africa
Malaysia
Israel
Singapore
Egypt
Philippines
Finland
Chile
Ireland
Pakistan
Greece
Portugal
Kazakhstan
Algeria
Czech Republic
Qatar
Peru
Romania
Vietnam
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption, By Country, 2018–2022
Table 5:
Production, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Physical Terms, By Country, 2012–2022
Table 7:
Imports, In Value Terms, By Country, 2012–2022
Table 8:
Import Prices, By Country Of Destination, 2012–2022
Table 9:
Exports, In Physical Terms, By Country, 2012–2022
Table 10:
Exports, In Value Terms, By Country, 2012–2022
Table 11:
Export Prices, By Country Of Origin, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Consumption, By Country, 2022
Figure 4:
Market Forecast To 2030
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2012–2022
Figure 17:
Production, In Value Terms, 2012–2022
Figure 18:
Production, By Country, 2022
Figure 19:
Production, In Physical Terms, By Country, 2012–2022
Figure 20:
Imports, In Physical Terms, 2012–2022
Figure 21:
Imports, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, By Country, 2022
Figure 23:
Imports, In Physical Terms, By Country, 2012–2022
Figure 24:
Imports, In Value Terms, By Country, 2012–2022
Figure 25:
Import Prices, By Country, 2012–2022
Figure 26:
Exports, In Physical Terms, 2012–2022
Figure 27:
Exports, In Value Terms, 2012–2022
Figure 28:
Exports, In Physical Terms, By Country, 2022
Figure 29:
Exports, In Physical Terms, By Country, 2012–2022
Figure 30:
Exports, In Value Terms, By Country, 2012–2022
Figure 31:
Export Prices, 2012–2022
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