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Report World - Refined Soybean Oil and Its Fractions - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update May 1, 2024

World - Refined Soybean Oil and Its Fractions - Market Analysis, Forecast, Size, Trends and Insights

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Global Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size

The global refined soybean oil market declined modestly to $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption saw a pronounced slump. Over the period under review, the global market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Refined Soybean Oil Production

In value terms, refined soybean oil production declined slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced decline. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, global production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refined Soybean Oil Exports

Exports

In 2022, the amount of refined soybean oil and its fractions exported worldwide stood at X tons, surging by X% compared with the previous year's figure. The total export 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X%. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, refined soybean oil exports skyrocketed to $X in 2022. In general, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The shipments of the three major exporters of refined soybean oil and its fractions, namely the Netherlands, Argentina and Brazil, represented more than third of total export. The United States (X tons) took the next position in the ranking, followed by Malaysia (X tons), Thailand (X tons), Bolivia (X tons) and Canada (X tons). All these countries together held near X% share of total exports. The following exporters - China (X tons), Nepal (X tons), Colombia (X tons), Germany (X tons) and Portugal (X tons) - together made up X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Brazil ($X) and Argentina ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of global exports. The United States, Malaysia, Nepal, Thailand, Canada, Bolivia, China, Colombia, Germany and Portugal lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average refined soybean oil export price amounted to $X per ton, rising by X% against the previous year. Overall, export price indicated a tangible 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, refined soybean oil export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nepal ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

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

Refined Soybean Oil Imports

Imports

In 2022, overseas purchases of refined soybean oil and its fractions decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. 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 throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of X%. Global imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, refined soybean oil imports reached $X in 2022. In general, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

The purchases of the twelve major importers of refined soybean oil and its fractions, namely Chile, the UK, Angola, Venezuela, Canada, Mauritania, the United States, Peru, India, the Philippines, Belgium and Democratic People's Republic of Korea, represented more than half of total import. Hong Kong SAR (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest refined soybean oil importing markets worldwide were Chile ($X), Angola ($X) and the UK ($X), together comprising X% of global imports. Canada, the United States, India, Venezuela, Peru, Mauritania, the Philippines, Belgium, Hong Kong SAR and Democratic People's Republic of Korea lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refined soybean oil import price amounted to $X per ton, jumping by X% against the previous year. Overall, import price indicated moderate 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, refined soybean oil import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Angola ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

China remains the largest refined soybean oil consuming country worldwide, accounting for 17% of total volume. Moreover, refined soybean oil consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. India ranked third in terms of total consumption with a 6.2% share.
China remains the largest refined soybean oil producing country worldwide, comprising approx. 18% of total volume. Moreover, refined soybean oil production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. India ranked third in terms of total production with a 5.5% share.
In value terms, the largest refined soybean oil supplying countries worldwide were the Netherlands, Brazil and Argentina, with a combined 33% share of global exports. The United States, Malaysia, Nepal, Thailand, Canada, Bolivia, China, Colombia, Germany and Portugal lagged somewhat behind, together accounting for a further 44%.
In value terms, Chile, Angola and the UK appeared to be the countries with the highest levels of imports in 2022, together accounting for 21% of global imports. Canada, the United States, India, Venezuela, Peru, Mauritania, the Philippines, Belgium, Hong Kong SAR and Democratic People's Republic of Korea lagged somewhat behind, together accounting for a further 36%.
The average refined soybean oil export price stood at $1,734 per ton in 2022, jumping by 27% against the previous year.
In 2022, the average refined soybean oil import price amounted to $1,678 per ton, surging by 17% against the previous year.

This report provides an in-depth analysis of the global refined 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:

  • Prodcom 10415100 - Refined soya-bean oil and its fractions (excluding chemically modified)

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

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. 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. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL 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. GLOBAL 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
    • 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

  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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