The new report by Expert Market Research titled, ‘Canada Soybean Oil Market Price, Trends, Growth, Analysis, Outlook, Report and Forecast 2023-2028’, gives an in-depth analysis of the Canada Soybean oil market, assessing the market based on its segments like end use, distribution channel, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): 330 MT
• Forecast CAGR (2023-2028): 1.9%
• Forecast Market Size (2026): 369 MT
The market for soybean oil is growing due to an increase in health-conscious consumers and increased fermentation and drilling processes. Soybean oil has several health benefits for the heart, skin, and bones. It is made up of polyunsaturated fatty acids, which are a type of fat found in the heart and are linked to a variety of health benefits. LDL cholesterol, a major risk factor for heart disease, is reduced by polyunsaturated fat. Soybean oil is high in heart-healthy omega -3 fatty acids, which can help to relieve inflammation and prevent heart disease. Soybean oil is also beneficial to one’s health and helps to prevent chronic illness.
It is also high in vitamin K, which helps to preserve bone strength, decrease the risk of fractures, and prevent bone loss. As a result, the market for soybean oil is expected to expand during the forecast period 2021-2026.
Canada Soybean Oil Industry Definition and Major Segments
Soybean oil is derived from soybean seeds. Evaporation of miscella is the most common method of obtaining it. Soybean oil is a popular source of edible fats and oils, and it also has a variety of industrial applications. Soybean oil’s high availability and flexibility make it more viable in a variety of sectors. It has a variety of nutritional benefits, including improved energy concentration and a high concentration of omega-3 and omega-6 essential fatty acids, among others. It is still less expensive than its competitors on the market.
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Based on end use, Canada Soybean oil market can be divided into:
• Food
• Industrial
• Feed
Based on distribution channel, Canada Soybean oil market can be divided into:
• Direct
• Supermarket and Hypermarket
• Convenience Store and Local Retail
• Online
• Others
Canada Soybean Oil Market Trends
Soybean oil’s versatility is expected to emerge as an opportunity, attracting many food product manufacturers from around the world. In the coming years, the market is expected to benefit from an increase in the number of channels that promote the sale of soybean oil, such as department stores, hypermarkets, supermarkets, and convenience stores. Soybean oil is used in lubricants, biodiesel, industrial paints, solvents, adhesives, cleaners, oleochemicals, and bio-composites, in addition to cooking. As a result, demand for this oil will continue to rise, resulting in a substantial increase in the market in the coming years.
The global soybean oil market is highly concentrated, with the major players controlling most of the market. Soybean oil’s versatility is expected to emerge as an opportunity, attracting many manufacturers in the food products industry around the world.
Key Market Players
The major players in the market are Centra Foods, Bunge Limited, Cargill, Incorporated, Archer Daniels Midland Company Viterra Inc., and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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