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Report World - Refined Soybean Oil and Its Fractions - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Jan 1, 2025

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

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Global Refined Soybean Oil Market 2025

Refined Soybean Oil Market Size

The global refined soybean oil market contracted modestly to $X in 2022, reducing by -2.9% against the previous year. In general, consumption recorded a slight decrease. Over the period under review, the global market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Refined Soybean Oil Production

In value terms, refined soybean oil production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2015 when the production volume increased by 7.6% against the previous year. Global production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Refined Soybean Oil Exports

Exports

For the third consecutive year, the global market recorded growth in overseas shipments of refined soybean oil and its fractions, which increased by 0.8% to X tons in 2022. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 17%. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, refined soybean oil exports skyrocketed to $X in 2022. Over the period under review, exports showed a perceptible increase. The most prominent rate of growth was recorded in 2021 with an increase of 45%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, the Netherlands (X tons), Argentina (X tons) and Brazil (X tons) was the major exporter of refined soybean oil and its fractions in the world, achieving 35% of total export. It was followed by the United States (X tons), Thailand (X tons), Malaysia (X tons), Bolivia (X tons) and Canada (X tons), together achieving a 28% share of total exports. The following exporters - China (X tons), Colombia (X tons), Indonesia (X tons), Germany (X tons) and Portugal (X tons) - together made up 16% of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +27.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest refined soybean oil supplying countries worldwide were the Netherlands ($X), Brazil ($X) and Argentina ($X), with a combined 35% share of global exports. The United States, Thailand, Canada, Bolivia, China, Malaysia, Germany, Colombia, Portugal and Indonesia lagged somewhat behind, together comprising a further 42%.

Thailand, with a CAGR of +28.4%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average refined soybean oil export price stood at $X per ton in 2022, jumping by 17% against the previous year. In general, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.6% 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 export price increased by +81.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 45% against the previous year. The global export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.6%), while the other global leaders experienced more modest paces of growth.

Refined Soybean Oil Imports

Imports

In 2022, supplies from abroad of refined soybean oil and its fractions decreased by -10.2% to X tons for the first time since 2016, thus ending a five-year rising trend. The total import volume increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 15% against the previous year. Global imports peaked at X tons in 2021, and then fell in the following year.

In value terms, refined soybean oil imports fell modestly to $X in 2022. Over the period under review, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 60%. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

The countries with the highest levels of refined soybean oil imports in 2022 were Chile (X tons), the UK (X tons), Venezuela (X tons), Canada (X tons), the United States (X tons), India (X tons), Angola (X tons), Peru (X tons), the Philippines (X tons), Belgium (X tons), Hong Kong SAR (X tons) and Indonesia (X tons), together amounting to 55% of total import. Germany (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +128.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest refined soybean oil importing markets worldwide were Chile ($X), the UK ($X) and Canada ($X), with a combined 23% share of global imports. The United States, India, Venezuela, the Philippines, Angola, Peru, Indonesia, Belgium, Hong Kong SAR and Germany lagged somewhat behind, together comprising a further 36%.

In terms of the main importing countries, India, with a CAGR of +111.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refined soybean oil import price amounted to $X per ton, picking up by 11% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% 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 +73.8% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by 46%. Global import price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of refined soybean oil consumption in 2020 were China, the United States and India, with a combined 30% share of global consumption. These countries were followed by Mauritania, Japan, Russia, Indonesia, Italy, Brazil, the UK, Pakistan, Bangladesh and Germany, which together accounted for a further 27%.
The countries with the highest volumes of refined soybean oil production in 2020 were China, the United States and India, together accounting for 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%.
In value terms, the largest refined soybean oil supplying countries worldwide were the Netherlands, the United States and Brazil, with a combined 32% share of global exports. Argentina, Malaysia, Canada, China, Thailand, Colombia, Belgium, Egypt, Bolivia and Portugal lagged somewhat behind, together comprising a further 44%.
In value terms, India, Mauritania and Venezuela constituted the countries with the highest levels of imports in 2020, with a combined 25% share of global imports.
The average refined soybean oil export price stood at $963 per ton in 2020, surging by 8.4% against the previous year.
In 2020, the average refined soybean oil import price amounted to $811 per ton, reducing by -6.2% against the previous year.

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

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 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. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption, By Country, 2018–2024
    5. Production, In Physical Terms, By Country, 2012–2024
    6. Imports, In Physical Terms, By Country, 2012–2024
    7. Imports, In Value Terms, By Country, 2012–2024
    8. Import Prices, By Country Of Destination, 2012–2024
    9. Exports, In Physical Terms, By Country, 2012–2024
    10. Exports, In Value Terms, By Country, 2012–2024
    11. Export Prices, By Country Of Origin, 2012–2024

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Consumption, By Country, 2024
    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, 2012–2024
    18. Production, In Value Terms, 2012–2024
    19. Production, By Country, 2024
    20. Production, In Physical Terms, By Country, 2012–2024
    21. Imports, In Physical Terms, 2012–2024
    22. Imports, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, By Country, 2024
    24. Imports, In Physical Terms, By Country, 2012–2024
    25. Imports, In Value Terms, By Country, 2012–2024
    26. Import Prices, By Country, 2012–2024
    27. Exports, In Physical Terms, 2012–2024
    28. Exports, In Value Terms, 2012–2024
    29. Exports, In Physical Terms, By Country, 2024
    30. Exports, In Physical Terms, By Country, 2012–2024
    31. Exports, In Value Terms, By Country, 2012–2024
    32. Export Prices, 2012–2024

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