Global Soybean Oil Market Will Grow at a CAGR of 4% During 2019-2023| Technavio
LONDON--(BUSINESS WIRE)--May 27, 2019--
Technavio has announced the release of their research report on the Global Soybean Oil Market for the forecast period 2019-2023. This soybean oil market analysis report segments the market by product (conventional soybean oil and organic soybean oil) and geography (North America, Europe, APAC, South America, and MEA).
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Technavio has published a new market research report on the global soybean oil market from 2019-2023. (Graphic: Business Wire)
Global soybean oil market size will grow by over USD 10 billion during 2019-2023, at a CAGR of more than 4%. There is increasing popularity of high oleic soybean oil as consumers prefer oils with nutritional value and cost benefits. High oleic soybean oil is a new variety of soybean oil manufactured at soybean processing plants. This oil has more nutritional characteristics than organic soybean oil. In high-heat applications, it offers superior resistance to oxidation and reduces the build-up of polymers on cooking-equipment, thereby reducing equipment maintenance and operating costs. Thus, the benefits provided by high oleic soybean oil will encourage more users to shift to this oil, thereby leading to market growth.
Increasing preference for healthy food ingredients
With rising health-conscious consumers, the demand for healthy edible oils is also increasing largely. Among edible oils, soybean oil is recommended because of its health benefits. It is healthy vegetable oil, owing to the presence of a variety of essential fatty acids such as alpha-linolenic acid, linoleic acid, and monounsaturated oleic acid. The healthy balance of fatty acids in soybean oil ensures that the body can get the essential fatty acids from the diet and regulate cholesterol levels. The high concentration of vitamin E in soybean oil acts as a powerful antioxidant and protects the skin from damage caused by free radicals and sunburn. The shift to healthy food ingredients, therefore, can increase the demand for soybean oil, and drive the global soybean oil market during the forecast period.
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“ More than 46% of the market share was contributed by the APAC region in 2018. The dominance of soybean oil over other vegetable oils and the increasing imports of soybean oil from other regions will further increase the sales of soybean oil in APAC. Additionally, the expansion of processing plant capacities by several vendors will lead to an increase in the production and sales of soybean oil in APAC during the forecast period,” says an analyst at Technavio.
Owing to its taste and health benefits, there is an increase in the demand for soybean oil, which is leading to several soybean processing plants to expand their production facilities. For instance, The US-based agricultural co-operatives are focusing on building new soybean processing plants to increase production. Also, several other companies in the US and China have announced their plans to expand their soybean processing operations by adding new soybean processing plants.
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This soybean oil industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on the products offered by soybean oil manufacturers including:
Some of the key topics covered in the report include:
Five Forces Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
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INDUSTRY KEYWORD: HEALTH FITNESS & NUTRITION RETAIL FOOD/BEVERAGE
SOURCE: Technavio Research
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PUB: 05/27/2019 08:30 AM/DISC: 05/27/2019 08:30 AM