Report Update Nov 1, 2024

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

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Northern America: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in Northern America

In 2022, the North American refined soybean oil market increased by 11% to $X, rising for the second year in a row after three years of decline. Overall, consumption, however, continues to indicate a slight setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Refined Soybean Oil Production in Northern America

In value terms, refined soybean oil production dropped slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible contraction. The growth pace was the most rapid in 2017 when the production volume increased by 7.3%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Refined Soybean Oil Exports

Exports in Northern America

In 2022, refined soybean oil exports in Northern America contracted to X tons, falling by -8% on 2021 figures. Total exports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -40.6% against 2017 indices. The pace of growth appeared the most rapid in 2017 with an increase of 38%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, refined soybean oil exports rose notably to $X in 2022. Total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 44%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

In 2022, the United States (X tons), distantly followed by Canada (X tons) were the major exporters of refined soybean oil and its fractions, together making up 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +7.0%).

In value terms, the United States ($X) and Canada ($X) appeared to be the countries with the highest levels of exports in 2022.

Among the main exporting countries, Canada, with a CAGR of +10.6%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, with an increase of 20% against the previous year. Overall, the export price posted noticeable growth. The pace of growth was the most pronounced in 2021 an increase of 63% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.4%).

Refined Soybean Oil Imports

Imports in Northern America

In 2022, approx. X tons of refined soybean oil and its fractions were imported in Northern America; rising by 24% compared with 2021 figures. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2015 when imports increased by 32%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, refined soybean oil imports skyrocketed to $X in 2022. In general, imports showed a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 82% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Canada (X tons) and the United States (X tons) represented the major importer of refined soybean oil and its fractions in Northern America, constituting 100% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Canada (with a CAGR of +15.2%).

In value terms, Canada ($X) and the United States ($X) were the countries with the highest levels of imports in 2022.

Canada, with a CAGR of +17.9%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, jumping by 17% against the previous year. Over the period under review, the import price posted measured growth. The growth pace was the most rapid in 2021 an increase of 76%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.4%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

The country with the largest volume of refined soybean oil consumption was the United States, comprising approx. 89% of total volume. Moreover, refined soybean oil consumption in the United States exceeded the figures recorded by the second-largest consumer, Canada, eightfold.

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

The country with the largest volume of refined soybean oil production was the United States, comprising approx. 84% of total volume. Moreover, refined soybean oil production in the United States exceeded the figures recorded by the second-largest producer, Canada, fivefold.

What are the leading suppliers of refined soybean oil and its fractions in Northern America?

In value terms, the United States and Canada were the countries with the highest levels of exports in 2020.

What are the leading importers of refined soybean oil and its fractions in Northern America?

In value terms, the largest refined soybean oil importing markets in Northern America were the United States and Canada.

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

In 2020, the refined soybean oil export price in Northern America amounted to $935 per ton, surging by 6.3% against the previous year.

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

The refined soybean oil import price in Northern America stood at $899 per ton in 2020, with an increase of 11% against the previous year.

This report provides an in-depth analysis of the refined soybean oil market in Northern America. 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:

Bermuda
Canada
Greenland
Saint Pierre and Miquelon
United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Northern America, split by region and country
Trade (exports and imports) in Northern America
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. CONSUMPTION BY COUNTRY
3. 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
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
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
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Bermuda
- Canada
- Greenland
- Saint Pierre and Miquelon
- United States
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, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023