Report Update Nov 1, 2024

Canada - Refined Soybean Oil and Its Fractions - Market Analysis, Forecast, Size, Trends and Insights

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Canada: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in Canada

The Canadian refined soybean oil market skyrocketed to $X in 2022, surging by 101% against the previous year. Over the period under review, consumption saw resilient growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Refined Soybean Oil Production in Canada

In value terms, refined soybean oil production dropped to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by 36%. Refined soybean oil production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Refined Soybean Oil Exports

Exports from Canada

In 2022, refined soybean oil exports from Canada fell sharply to X tons, shrinking by -25.8% on the previous year. In general, exports, however, saw a resilient increase. The growth pace was the most rapid in 2013 when exports increased by 50% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, refined soybean oil exports declined to $X in 2022. Over the period under review, exports, however, recorded prominent growth. The growth pace was the most rapid in 2021 when exports increased by 126%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

The United States (X tons) was the main destination for refined soybean oil exports from Canada, with a 93% share of total exports. It was followed by the United Arab Emirates (X tons), with a 2.6% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +6.3%.

In value terms, the United States ($X) remains the key foreign market for refined soybean oil and its fractions exports from Canada, comprising 96% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 1.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +10.2%.

Export Prices by Country

In 2022, the average refined soybean oil export price amounted to $X per ton, picking up by 16% against the previous year. Over the period under review, the export price posted notable growth. The growth pace was the most rapid in 2021 an increase of 90% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.6%).

Refined Soybean Oil Imports

Imports into Canada

In 2022, imports of refined soybean oil and its fractions into Canada skyrocketed to X tons, increasing by 197% against 2021 figures. Over the period under review, imports enjoyed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, refined soybean oil imports skyrocketed to $X in 2022. Overall, imports continue to indicate a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest refined soybean oil supplier to Canada, with a 74% share of total imports. Moreover, refined soybean oil imports from the United States exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +11.7%.

In value terms, the United States ($X) constituted the largest supplier of refined soybean oil and its fractions to Canada, comprising 76% of total imports. The second position in the ranking was taken by Argentina ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +14.8%.

Import Prices by Country

In 2022, the average refined soybean oil import price amounted to $X per ton, growing by 10% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined soybean oil import price increased by +75.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 58% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Argentina totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.7%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined soybean oil and its fractions in the world?

The countries with the highest volumes of refined soybean oil consumption in 2020 were China, the United States and India, together comprising 30% of global consumption. Mauritania, Japan, Russia, Indonesia, Italy, Brazil, the UK, Pakistan, Bangladesh and Germany lagged somewhat behind, together comprising a further 27%.

What are the largest producers of refined soybean oil and its fractions in the world?

The countries with the highest volumes of refined soybean oil production in 2020 were China, the United States and India, together comprising 31% of global production. Brazil, Japan, Russia, the Netherlands, Indonesia, Pakistan, Germany, Bangladesh, the UK and Italy lagged somewhat behind, together comprising a further 27%.

What are the leading suppliers of refined soybean oil and its fractions to Canada?

In value terms, the United States constituted the largest supplier of refined soybean oil to Canada, comprising 89% of total imports. The second position in the ranking was occupied by India, with an 8.9% share of total imports.

What are the leading importers of refined soybean oil and its fractions from Canada?

In value terms, the United States remains the key foreign market for refined soybean oil exports from Canada.

What is the average export price for refined soybean oil and its fractions in Canada?

The average refined soybean oil export price stood at $805 per ton in 2020, surging by 5.3% against the previous year.

What is the average import price for refined soybean oil and its fractions in Canada?

The average refined soybean oil import price stood at $1,057 per ton in 2020, approximately mirroring the previous year.

This report provides an in-depth analysis of the refined soybean oil market in Canada. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10415100 - Refined soya-bean oil and its fractions (excluding chemically modified)

Country coverage:

Canada

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Canada
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023