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The advantages of Soybean Oil over other vegetable oils or cooking oils are becoming increasingly known by consumers, which has increased the Soybean Oil market

HYDERABAD, TELANGANA, INDIA, January 5, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Soybean Oil Market is estimated to reach $69.7 billion by 2030, growing at a CAGR of 4.4% over the forecast period of 2023–2030. Soybean oil is a major source of vitamins, proteins, fatty acids and plant sterols, among other important components. Soybean oil aids in boosting skin and eye health, regulating cholesterol levels, reducing the risk of cognitive impairments, preventing osteoporosis and improving immunity. Refined soybean oil is created by further processing crude soy oil through degumming, refining, bleaching and deodorizing. Next to palm oil, soybean oil is the most popular vegetable oil traded in global markets. According to the National Commodity & Derivatives Exchange Limited (NCDEX), soybean oil accounts for 24% of the total usage of vegetable oil. Soybean oil is high in polyunsaturated fat and devoid of cholesterol. Soybean Oil has a mild flavor and almost no odour.

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Key takeaways:

This IndustryARC report on the Soybean Oil Market highlights the following areas -

1. Asia-Pacific dominates the Soybean Oil Market in 2022, due to the growing adoption of a healthy lifestyle in the region. North America is anticipated to grow at the fastest rate during the forecast period of 2023–2030, as soybeans are used in salad dressings and margarine, which have high demand and consumption in the region.

2. The advantages of Soybean Oil over other vegetable oils or cooking oils are becoming increasingly known by consumers, which has increased the Soybean Oil market size.

3. The easy availability and low cost of Soybean Oil used for various foods and industrial purposes are driving the Soybean Oil industry.

4. A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Soybean Oil Market Report.

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Segmental Analysis:

Soybean Oil Market Segment Analysis – by Application: Based on application, the Soybean Oil market is further segmented into Food (Cooking & Frying, Salad Dressing, Margarine and Others), Pharmaceutical, Cosmetics, Personal Care Products, Biodiesel, Paints & Coating and Others.

Soybean Oil Market Segment Analysis – by End-user: Based on End-user, the Soybean Oil market is further segmented into Food Services, Household and Industrial. The Food Services segment held the largest revenue share of the soybean oil market in 2022.

Soybean Oil Market Segment Analysis – by Geography: Based on geography, the Asia-Pacific Soybean Oil Market accounted for a 32% share of global revenue earned by the soybean oil market in 2022.

Competitive Landscape:

The top 5 players in the ccccccccIndustry are -

1. Cargill, Incorporated
2. Louis Dreyfus Company
3. Wilmar International Limited
4. Bunge Limited
5. Archer-Daniels-Midland Company

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Related Reports:

A. U.S. Soybean Market
https://www.industryarc.com/Report/18481/us-soybean-market-research-report-analysis.html

B. Soybean Market
https://www.industryarc.com/Report/18471/soybean-market-research-report-analysis.html

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