Report Code: A08384 | Pages: NA | Mar 2023 | 3711 Views | ||
Author(s) : Jatendu S | Tables: NA | Charts: NA |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Soybean Oil Market
Request Now !Soybean oil is extracted from soya plants and can be used in multiple cuisines and recipes. To extract the oil soybeans are run through catalytic cracker in a refinery and the extracted oil is sold as soybean oil whereas the by-product is turned in to soybean meals in form of soya chunks or granules. Soy bean oil is good source of omega-3 fatty acids and vitamin E which helps in maintaining the body. The soybean oil is used for baking, frying, cooking, garnishing salads, resins, mastics, plastics, caulks, biodiesel, insecticides animal feed, drying oil and as raw material in paint industry. Soy bean oil helps in treatment of osteoarthritis, lower low-density cholesterol (LDL) and acts as a mosquito & insect repellent. The current market has high demand of soybean oils as is the next substitute to palmolein oil and are healthy for consumption than palmolein. Soybean oil is commonly used for household cooking and have high demand from restaurants and hotels.
COVID-19 ScenarioAnalysis:
The edible vegetable oils market has grown significantly because of rise in awareness among the consumers toward consumption of healthy oils which have zero trans-fat and low saturated fats. Moreover, the demand from increasing population, expansion of distribution channel, rapid urbanization, increasing yield of soy crop and awareness about healthy vegetable oils are the factors that drive the growth of the global soybean oil market. However, the major constraints of the market are availability of cheap alternatives from local players and competition from other oils such as rice-bran oil, sunflower oil and olive oil. Innovations and development are related to use of soybean oil for animal feed.
Research and development in the soybean oil market has helped to develop various uses of soybean oil. The manufacturers gave found out new varieties of seed that has improved nutrients and other benefits. High oleic soybeans were developed by seed companies to produce a trans-fat-free soybean oil which has more nutritional benefits than the traditional soybean. In addition, the soybean oils are also used for bio-diesel fuel.
Good Year has developed a new range of tire that are made using soybean oil. The product under the brand name “Assurance Weather Ready” is an all-season tire that gives better grips in road and performs well and fine in dry, wet and cold weather conditions. The competitive advantage of the tire is it provides excellent traction control among all the competitors in the market.
Manufacturers have been focusing on producing new bio-diesels using soybean oil that can be available as an alternate to fossil fuels. The most common procedure for producing bio-diesel using vegetable oils and animal fats using methanol or ethanol in the presence of sodium hydroxide which acts as a catalyst. The successful commercial use of bio-diesel using soybean oil has not been introduced to the market but the soybean oil has fuel capabilities which have been proved under prototype and pilot projects which has made many fuel companies to invest in the research and produce bio-diesels that could be the next alternative to fossil fuels.
Key Benefits of the Report:
Questions Answered in the Soybean Oil MarketResearch Report:
Soybean Oil Market Report Highlights
Aspects | Details |
---|---|
By Type |
|
By Application |
|
By Distribution Channel |
|
By Region |
|
Key Market Players | Archer Daniels Midland Company (ADM), Bunge, Cargill, Louis Dreyfus, Ruchi Soya Industries Limited, LE GROUP INDUSTRIES, AGRO FOOD GROUP, IB Group, FEDIOL, Aceitera General Deheza, Harvest Brand, Grano, Wilmar International Ltd. |
Loading Table Of Content...
Start reading.
This Report and over 19,614+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers