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:
Driven by several elements reflecting evolving consumer tastes and technological developments in food processing, the United States soybean oil market is seeing strong expansion Particularly in the food sector, one of the main drivers of this market is the growing need of plant-based oils. Soybean oil has become a popular component in food products owing to its neutral flavor and healthyfat profile as more people choose plant-based diets and better choices. The increasing demand of vegetarian and vegan products—where soybean oil is a key ingredient in cooking, frying, and food preparation—particularly illustrates this trend. Soybean oil's adaptability and health advantages are setting it as a kitchen staple, driving food industry demand in contemporary households.
Apart from the demand from the food sector, the U.S. soybean oil market is expanding as a result of the rising attention on sustainable energy sources. Since soybean oil is a major feedstock for biodiesel production, the growth of biodiesel output has become a key driver of market development. As government support for biofuel projects—including subsidies for renewable energy and biofuel blending restrictions—grows, soybean oil's contribution to sustainable energy options is becoming more obvious. Along with worldwide initiatives to lower carbon emissions, this move to biofuels is projected to keep fueling soybean oil output and consumption in bioenergy uses.
Furthermore significantly influencing the market engine is the changing terrain of government rules and policies. The U.S. government's greater emphasis on helping biofuel projects is not only generating demand for soybean oil but also improving the overall growth potential of the market. These policies create conditions that are advantageous for consumers as well as producers, therefore fueling the market's growth. Along with government support, changing supply chain dynamics—including advances in logistics and processing efficiency—are simplifying soybean oil's production and distribution. Together, these elements support the development path of the soybean oil market in the United States, so guaranteeing its ongoing relevance in both the biofuel and food sectors.
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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.
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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.
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