The North American soybean oil market in Q1 2025 is characterized by tightening supply conditions amid downward revisions in regional soybean production due to lower yields and acreage. Demand remains robust, driven by sustained import requirements from key global buyers and increased biodiesel sector consumption. Supply constraints from competing producing regions and rising shipping costs further support export prices. Market sentiment reflects cautious inventory liquidation early in the quarter, transitioning to a more bullish outlook as supply concerns intensify and export competitiveness improves with a weaker US dollar.

Get the latest insights on price movement and trend analysis of Soybean Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

The report covers Soybean Oil Consumption By Country and it is Segmented by Application (Food, Animal Feed, and Industrial) and Geography.

In 2024, the global soybean oil market decreased by -10.5% to $59B, falling for the second year in a row after three years of growth. Overall, consumption, however, recorded slight growth. Over the period under review, the global market reached the peak level at $87.5B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

This statistic depicts the average annual prices for soybean oil from 2014 through 2026*. In 2023, the average price for soybean oil stood at 1,119 nominal U.S. dollars per metric ton.

Get the latest insights on price movement and trend analysis of RBD Soybean Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

In 2024, the Indian crude soybean oil market decreased by -3.1% to $5.1B, falling for the second consecutive year after three years of growth. Over the period under review, the total consumption indicated a temperate increase from 2012 to 2024: its value increased at an average annual rate of +2.4% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.

The global soybean oil market size was valued at 62.29 Million Tons in 2024. Looking forward, IMARC Group estimates the market to reach 72.3 Million Tons by 2033, exhibiting a CAGR of 1.7% during 2025-2033. China currently dominates the market, holding a significant market share of over 32.0% in 2024. The increasing preference for plant-based and trans-fat-free oils, rising health consciousness and awareness among the masses and growing product utilization in various industrial applications are strengthening soybean oil market share in the global edible oil industry.

IMARC Group provides an analysis of the key trends in each segment of the global soybean oil market report, along with forecasts at the global, and regional level from 2025-2033. Our report has categorized the market based on end-use.

Soybeans fell to 1,055.75 USd/Bu on June 9, 2025, down 0.14% from the previous day. Over the past month, Soybeans's price has fallen 1.45%, and is down 11.15% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Soybeans - values, historical data, forecasts and news - updated on June of 2025.

The revenue of the soybean oil market in Ireland amounted to $X in 2017, surging by X% against the previous year. Overall, the total market indicated a remarkable expansion from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the soybean oil consumption increased by +X% against 2015 indices.

Get the latest insights on price movement and trend analysis of Refined Soybean Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

The North American Soybean Oil market began the fourth quarter with a notable upward trend but ended the period on a more negative note. This shift was influenced by various factors, including global demand-supply fluctuations, which kept overall prices on the decline. From October to November 2024, prices saw upward pressure driven by supply constraints and strong demand, particularly from the renewable diesel sector.

The India soybean oil market size reached USD 4.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 5.6 Billion by 2033, exhibiting a growth rate (CAGR) of 2.9% during 2025-2033.

IMARC Group provides an analysis of the key trends in each sub-segment of the India soybean oil market report, along with forecasts at the country and regional level from 2025-2033. Our report has categorized the market based on packaging type, packaging material, pack size, domestic manufacturing/imports, application and distribution channel.

The revenue of the soybean oil market in Central Asia amounted to $X in 2017, going down by -X% against the previous year. The soybean oil consumption continues to indicate a deep decrease. The pace of growth appeared the most rapid in 2013, when market value increased by X% year-to-year. The level of soybean oil consumption peaked of $X in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.The soybean oil production amounted to X tons in 2017, declining by -X% against the previous year.

Forecast: Soybean Oil Market Size Volume in Malaysia 2023 - 2027 Discover more data with ReportLinker!

The revenue of the soybean oil market in Kazakhstan amounted to $X in 2017, shrinking by -X% against the previous year. In general, soybean oil consumption continues to indicate a drastic shrinkage. The pace of growth was the most pronounced in 2013, when it surged by X% against the previous year. Over the period under review, the soybean oil market attained its peak figure level of $X in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.In 2017, approx.

Forecast: Soybean Oil Market Size Volume in Africa 2023 - 2027 Discover more data with ReportLinker!

The global soybean oil market, valued at $93.17 billion in 2025, is projected to experience robust growth, driven by a compound annual growth rate (CAGR) of 10.84% from 2025 to 2033. This expansion is fueled by several key factors. The increasing demand for soybean oil in the food and beverage industry, particularly in applications like spreads, bakery products, and confectionery, is a major contributor. The growing global population and rising disposable incomes in developing economies are further boosting consumption. Simultaneously, the expanding animal feed sector, relying heavily on soybean meal and oil as key components, significantly contributes to market growth. Furthermore, industrial applications of soybean oil, including biodiesel production and use in various manufacturing processes, are experiencing a notable uptick, adding to the market's overall expansion. Competition among major players like Archer Daniels Midland Company, Cargill Incorporated, and Wilmar International Ltd. is expected to remain intense, driving innovation and efficiency gains within the industry. Geographical distribution reveals a diverse market landscape. North America, encompassing the United States, Canada, and Mexico, is expected to maintain a substantial market share due to established agricultural practices and high domestic consumption. However, the Asia-Pacific region, particularly China and India, is projected to demonstrate the fastest growth rate, driven by increasing populations and changing dietary habits. Europe and South America will also contribute significantly, with growth influenced by regional economic conditions and consumption patterns. The forecast period (2025-2033) anticipates a continued upward trajectory, with the market size exceeding $250 billion by 2033, based on the projected CAGR. Factors like fluctuating commodity prices and potential disruptions to global supply chains could influence the market trajectory, but overall, the outlook for soybean oil remains positive. Notable trends are: Growing Usage of Soybean Oil in Biodiesel.

Forecast: Soybean Oil Market Size Volume in Germany 2023 - 2027 Discover more data with ReportLinker!

Forecast: Soybean Oil Market Size Volume Per Capita in China 2023 - 2027 Discover more data with ReportLinker!