How big is the Soybean Oil Market | Forecast & Growth Analysis 2031

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Code: MTA9173

Publication Date: Sep 2025

What is the size of Soybean Oil Market?

According to 6Wresearch internal database and industry insights, the Global Soybean Oil Market was valued at USD 63 billion in 2024 and is expected to reach USD 83 billion by 2031, growing at a compound annual growth rate of 4.00% during the forecast period (2025-2031).

The market for soybean oil continues to develop at a good pace, as soybean oil is still a commonly used edible oil in households, packaged foods, and foodservice. Increasing applications in biodiesel production of late are solidifying the edible oil's application within the energy and industrial sectors.

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Growth Factors for Soybean Oil Market

Increasing application in cooking, processed foods, and packaged snack foods.
Rising applications in biodiesel production are causing demand for soybean oil feedstock.
Cost-effective and widely available compared to other edible oils.
Nutritional profile offers functional benefits for consumption by health-conscious consumers.
Growing refining and processing facilities are expanding output volumes.

Soybean Oil Market Trends

The trends in the soybean oil market show increasing application and demand in the food industry based on versatility and neutral flavour. Manufacturers are introducing lower-trans-fat and fortified soybean oil products to meet consumer demands. Also, recent trends in soybean oil involve growing volumes demanded by biodiesel manufacturers. Policies, such as renewable energy standards, and growing energy needs are causing production increases of soybean oil for renewable sources of energy.

Emerging Developments in the Soybean Oil Market

Emerging developments in the Soybean Oil Market include technological advancements in refining processes, improving oil quality, shelf life, and nutritional value. Cold-pressed and organic soybean oil are gaining popularity among premium consumer segments. Additionally, companies are forming strategic alliances to enhance supply chain efficiency and expand export opportunities. Investments in biodiesel refineries are also positioning soybean oil as a sustainable energy resource.