IMARC Group’s report titled “North America Soybean Oil Market Report by End-Use (Food, Industrial, Feed), and Country 2024-2032”, The North America soybean oil market is expected to exhibit a growth rate (CAGR) of 4.09% during 2024-2032.
The rising consumer need for healthier as well as sustainable cooking oil options is one of the factors responsible for the growth of the North America soybean oil market. Additionally, one of the key trends in this market is the growing awareness of the health benefits associated with soybean oil, which is rich in polyunsaturated fats and omega-3 fatty acids. Besides this, consumers are increasingly opting for soybean oil due to its heart-healthy properties and its versatility in cooking, which is fueling the market. Moreover, the shift in the food industry towards non-GMO and organic products has bolstered the demand for soybean oil.
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● North America Soybean Oil Market Trends and Drivers
Another significant driver in the North America soybean oil market is the expanding use of soybean oil in industrial applications, particularly in the production of biodiesel. In addition to this, increasing environmental concerns and regulatory pressures to reduce greenhouse gas emissions create demand for biofuels. Furthermore, soybean oil, being a renewable resource, is a preferred feedstock for biodiesel production, contributing to the growth of the market. Additionally, the continuous efforts by the agricultural sector to enhance soybean crop yields through advanced farming techniques and biotechnology are ensuring a stable supply of raw materials for the oil industry, which is acting as another growth-inducing factor. The growing trend of using soybean oil in various non-food applications, such as in the production of bioplastics and eco-friendly lubricants, is also expanding its scope, which is anticipated to drive the North America soybean oil market over the forecasted period.
Report Segmentation:
The report has segmented the market into the following categories:
● Key Regions Analysed
● United States
● Canada
● Mexico
Analysis for Each Country
● Market by End-Use
● Food
● Industrial
● Feed
Value Chain Analysis
● Key Drivers and Challenges
● Porters Five Forces Analysis
● PESTEL Analysis
● Government Regulations
● Competitive Landscape
● Competitive Structure
● Key Player Profiles
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Publish date : 2024-06-18 05:42:59
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