Soybean oil and palm oil are edible vegetable oils extracted from soybeans and palm oil fruits respectively. Soybean oil is commonly used in cooking and baking owing to its high smoke point. It is also used in processed foods as a cheaper alternative to other oils. Palm oil finds wide application in food products like snack foods, baked goods, chocolate spreads and margarines due to its versatility and cost effectiveness.
The global soy oil and palm oil market is estimated to be valued at US$ 109724.12 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Increasing demand for edible oils is one of the major opportunities driving the growth of the soy oil and palm oil market. With rising population and urbanization globally, demand for food products is growing at a rapid pace. Soy oil and palm oil are widely used in food processing industry as they are inexpensive and versatile ingredients. According to data, global consumption of edible oils has increased from 153.6 million tons in 2010 to 214.4 million tons in 2021. This upsurge in edible oil demand is stemming primarily from the fast food industry and foodservices sector catering to urban consumers. The soy oil and palm oil market players can capitalize on this opportunity by expanding their production capacities and distribution networks to develop a stronger foothold in emerging nations that are witnessing fastest growth in food demand. This will help them address the increasing global need for edible oils effectively over the forecast period.
Porter's Analysis
Threat of new entrants: High capital requirements and economies of scale in production pose entry barriers.
Bargaining power of buyers: Buyers have significant bargaining power as the market is dominated by a few multinational buyers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and suppliers fragmentation.
Threat of new substitutes: Threat of new substitutes is moderate as alternatives like canola oil, corn oil exist.
Competitive rivalry: Intense competition between key players keeps pricing and profit margins low.
SWOT Analysis
Strength: cost competitiveness and availability of resources. Wide applications in food and non-food industries.
Weakness: price volatility depending on crop yields, demand-supply dynamics. threats from climate change and sustainability issues.
Opportunity: growing health-conscious population fuels demand for healthier oil alternatives. shift towards cleaner burning biodiesel fuels presents new opportunities.
Threats: trade conflicts and policies negatively impact exports. increasing support for substitute oils in developed markets.
Key Takeaways
The global Soy Oil And Palm Oil Market Trends is expected to witness high growth. The global soy oil and palm oil market is estimated to be valued at US$ 109724.12 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.
Regional analysis shows Southeast Asia continues to grow at a robust pace led by Indonesia and Malaysia expanding oil palm cultivation and boosting yields through adoption of advanced practices. South America follows with soybean oil production centered in Brazil and Argentina.
Key players operating in the Soy Oil And Palm Oil market are Cargill, Inc., PT Astra Agro Lestari Tbk, Wilmar International Ltd, Malaysian Soy oil & palm oil Council (MPOC), Carotino Sdn Bhd, Yee Lee Corporation Bhd, IOI Corporation Berhad, Archer Daniels Midland Company, Dow DuPont Inc., and Guangxi Long'an Ruifeng Industrial & Trading Co., Ltd. Cargill and Wilmar jointly control over 40% of the global palm oil trade.
For more insights, read- https://www.pressreleasebulletin.com/soy-oil-and-palm-oil-market-trends-size-and-share-analysis/
The global Soy Oil & Palm Oil market report provides insight into the current situation of the market and predicts the recent future over the duration of 2020 to 2025.
The information mentioned in the report helps to decide the marketing strategies, wheatear to enter in the market, and to know the financial condition of the key players operating in the market for quite some time.
Additionally, it helps to decide the target audience and to strategies the marketing to seize the opportunities at right time.The report includes data from authentic sources and projections about market size.
The report covers all crucial parameters like manufacturing volume, raw material sourcing approaches, value chain alliance, organizational structure, global presence, market performance, distribution network, and market size.
Based on past trends, research information will help to provide Forecasts about the market in terms of revenue and volume growth.For Right Perspective & Competitive Insights, Request a Sample @: https://introspectivemarketresearch.com/request/13713Key Player Mentioned: IOI Corporation Berhad, Archer Daniels Midland, Malaysian Palm Oil Council (MPOC), T Astra Agro Lestari Tbk, Cargill, Wilmar International, Yee Lee Corporation, Carotino, BungeProduct Segment Analysis: Palm Oil, Soy OilApplication Segment Analysis: Food, Feedstuff, Personal Care and Cosmetics, Biofuel, Pharmaceutical, OthersRegional Segment Analysis: North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain etc.
)The report is focused on qualitative and quantitative insights by industry analysts, inputs from industry experts and industry participants across the value chain.
COVID-19 Impact Analysis on Palm Oil Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the palm oil market include Wilmar, Sime Darby, IOI Corporation, Kuala Lumpur Kepong, Asiatic Development, London Sumatra, Boustead, United Plantations Bhd, Kulim Bhd, IJM Plantations, Sampoerna Agro, Bakrie Sumatera, Cargill, Incorporated, Univanich Palm Oil Public Company Ltd., Asian Agri.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Palm Oil Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/palm-oil-market/download-sampleMarket DynamicsPalm oil provides many health benefits that help in enhancing energy levels, preventing premature aging, improving eye vision, boosting the immune system, and reducing the risk of cancer and heart diseases.
Apart from this, palm oil is readily replacing petroleum-based products as an effective alternative in the transportation and energy industries.
It is also employed as a substitute for mineral oil in power stations for energy production.
