U.S. Soybean Oil Market Size, Share, Demand, Trends & Forecast

United States Soybean Oil Market Overview  

Market Size in 2024: 12.62 Million Tons

Market Forecast in 2033: 16.04 Million Tons

Market Growth Rate: 2.5% (2025-2033)

According to the latest report by IMARC Group, the United states soybean oil market size was valued at 12.62 Million Tons in 2024. Looking forward, IMARC Group estimates the market to reach 16.04 Million Tons by 2033, exhibiting a CAGR of 2.5% from 2025-2033.

United States Soybean Oil Industry Trends and Drivers:

Soybean oil USA market seems to be gradually growing basically on consumer trends towards plant-based foods and functionally added ingredients. The product soybean oil is proving to be versatile in different end-use industries, especially in food processing because it becomes an option for frying, baking, and salad dressings due to its neutral flavor and high stability. Advances in the clean label trend encourage manufacturers’ product reformulations to include non-GMO, expeller-pressed, and organic soybean oils-compliant with the nutrition goals of health-conscious consumers. Furthermore, soybean oil would continue to be used more highly in commercial kitchens and food services chains due to its cost-effectiveness as well as frying characteristics. Changing dietary patterns towards increasing vegan and flexitarian lifestyles further strengthens its case as a renewable expression of conventional animal fats.

The market also derives benefits with serious implications from the accompanying expansion into renewable energy sectors, notably the increased production of biodiesel. Soybean oil is fast becoming the primary feedstock for biodiesel owing to government inducements promoting clean energy solutions coupled with renewable fuel standards. With states such as California and Illinois increasing their financial grants and regulatory policies towards biofuels, refiners, and agricultural participants are ramping up their supply line channels to meet the demand. Also, as oil extraction and refining technology advance, some improvements bring enhanced quality and lower costs into operations, thereby reducing prices in both domestic and export markets. These varieties, further, are stretched to the geographical differences; the Midwest still dominates production, while the South and West regions of the United States are showing an uptake toward biodiesel use due to their readiness in infrastructure and favorable policies.

Some key drivers of the United States soybean oil market include increased awareness of heart-healthy cooking oils, investments in strategic R&D by agribusiness giants, and increased retail market penetration through online and offline platforms. Major food brands partner with sustainable farming initiatives to promote traceable sourcing, thus influencing environmental consumers to change their different buying behavior. At the same time, regional competitors are increasingly launching cold-pressed and fortified soybean oil variants to appeal to niche health segments. With food security, sustainability, and innovation converging in the U.S. agri-food ecosystem, soybean oil helps accelerate this change and is hence an important commodity along the ever-developing food and energy value chains in the country.

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United States Soybean Oil Industry Segmentation:

The report has segmented the market into the following categories:

Analysis by End Use:

• Food
• Feed
• Industrial

Regional Analysis:

• Northeast
• Midwest
• South
• West

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Latest News and Developments:

• In November 2024, Perdue AgriBusiness launched a new vessel called “Miss Madeline”, to optimize crude soybean oil transport, reduce emissions, decrease road congestion, and promote sustainable practices, aligning with the United States agriculture and environmental goals.
• In November 2024, Wilmar International Limited planned to sell a 6.5% stake in Adani Wilmar by February 2025 to meet Indian regulatory regulations. This sale is anticipated to lead to a one-off positive impact and possibly improve Wilmar’s financial structure, supporting advancement in soybean oil processing and supply chain improvements in the United States.
• In October 2024, the David City Plant of AG Processing Inc (APG), is set to launch in 2025. It will process 50M+ bushels annually, boosting domestic soybean oil production, supporting United States farmers, enhancing food security, and strengthening local economies.
• In August 2024, Bunge Limited announced a $34 Billion partnership with Viterra, strengthening agricultural exports, enhancing market competitiveness and creating one of the largest global trade networks in the United States.
• In August 2024, Archer Daniels Midland Company (ADM) and Farmer Business Network (FBN) established a 50/50 venture called Gradable with an open goal to speed up the delivery of technologies that would allow farmers and buyers to get value from sustainably grown grain in America.

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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