United States Soybean Oil Market Overview
Market Size in 2024: 12.62 Million Tons
Market Forecast in 2033: 16.04 Million Tons
Market Growth Rate: 2.5% (2025-2033)
According to the latest report by IMARC Group, the United states soybean oil market size was valued at 12.62 Million Tons in 2024. Looking forward, IMARC Group estimates the market to reach 16.04 Million Tons by 2033, exhibiting a CAGR of 2.5% from 2025-2033.
United States Soybean Oil Industry Trends and Drivers:
In the United States, the soybean oil market is growing steadily, owing to various factors that are in line with ever-changing consumer demands and regulatory frameworks. One of the prominent driving factors is the rise in demand for plant-based oils during food processing for consumer preferences. With the ever-growing demand for plant-based diets among consumers, many view soybean oil as a versatile oil with health benefits. This situation is most pronounced in the food and beverage processing sector, where soybean oil is widely used in frying, salad dressings, and baked goods. Furthermore, increasing awareness of the health benefits of using vegetable oils-low cholesterol and an abundance of polyunsaturated fats-encouraged many consumers to include soybean oil in their daily diets. Increasingly, consumers are favoring soybean oil as their cooking and salad oil, which bodes well for the overall market.
Soybean oil demand is further fueled by growing biodiesel production in the U.S.A. With more government support aimed at promoting renewable energy, more soybean oil is being used as a feedstock for biodiesel production. Growth in biodiesel production has primarily been driven by federal policies that promote the use of renewable fuels to mitigate greenhouse gas emissions and reduce reliance on fossil fuels. With the expansion of the biodiesel market, the demand for soybean oil keeps on increasing, given that this oil is one of the most common, available, and cheapest for use in biodiesel production. Thus, there has been a tremendous increase in the U.S. cultivation of soybeans, with extracted oil for food processing use and biofuels.
Aside from increased demand in the food processing and biofuel industries, regulations are shaping the market landscape. A series of U.S. government initiatives promoting sustainable farming practices and biofuel production boost the soybean oil market. Such initiatives seek to promote the use of renewable energy sources and thereby the use of plant oils, such as soybean oils. Putting emphasis on environmentally sound alternatives to traditional fossil fuels will help towards not only increasing the market but also sustaining the agricultural practices. As consumer demands for sustainable and health-oriented products increase, the soybean oil market will benefit from the growing domestic consumption as well as global renewable-energy trends.
Download sample copy of the Report: https://www.imarcgroup.com/united-states-soybean-oil-market/requestsample
United States Soybean Oil Industry Segmentation:
The report has segmented the market into the following categories:
Analysis by End Use:
- Food
- Feed
- Industrial
Regional Analysis:
- Northeast
- Midwest
- South
- West
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Latest News and Developments:
- In November 2024, Perdue AgriBusiness launched a new vessel called "Miss Madeline", to optimize crude soybean oil transport, reduce emissions, decrease road congestion, and promote sustainable practices, aligning with the United States agriculture and environmental goals.
- In November 2024, Wilmar International Limited planned to sell a 6.5% stake in Adani Wilmar by February 2025 to meet Indian regulatory regulations. This sale is anticipated to lead to a one-off positive impact and possibly improve Wilmar’s financial structure, supporting advancement in soybean oil processing and supply chain improvements in the United States.
- In October 2024, the David City Plant of AG Processing Inc (APG), is set to launch in 2025. It will process 50M+ bushels annually, boosting domestic soybean oil production, supporting United States farmers, enhancing food security, and strengthening local economies.
- In August 2024, Bunge Limited announced a $34 Billion partnership with Viterra, strengthening agricultural exports, enhancing market competitiveness and creating one of the largest global trade networks in the United States.
- In August 2024, Archer Daniels Midland Company (ADM) and Farmer Business Network (FBN) established a 50/50 venture called Gradable with an open goal to speed up the delivery of technologies that would allow farmers and buyers to get value from sustainably grown grain in America.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Ask analyst for your customized sample: https://www.imarcgroup.com/request?type=report&id=11070&flag=C
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
