High Oleic Soybean Market
High Oleic Soybean Market Forecasts to 2030 - Global Analysis By Product Type (High Oleic Soybean Seeds, High Oleic Soybean Oil and Other Product Types), Type (GMO, Non-GMO and Other Types), Grade, Distribution Channel, Application, End User and by Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $448.45 MN |
|
Projected Year Value (2030) |
US $1142.97 MN |
|
CAGR (2023 - 2030) |
14.3% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Europe |
|
Highest Growing Market |
Latin America |
According to Stratistics MRC, the Global High Oleic Soybean Market is accounted for $448.45 million in 2023 and is expected to reach $1142.97 million by 2030 growing at a CAGR of 14.3% during the forecast period. A genetically engineered soybean variety known as high oleic has higher concentrations of monounsaturated fats, especially oleic acid. This change in the fatty acid profile is advantageous for frying and food processing applications because it increases shelf life and stability against oxidation, among other benefits. High-oleic soybean is becoming more and more popular among food producers and consumers looking for healthier cooking oils and ingredients because of its enhanced functionality and health benefits.
According to the United Soybean Board, high oleic soybean oil offers significant advantages in terms of its improved functionality and health benefits compared to conventional soybean oil.
Market Dynamics:
Driver:
Growing need from consumers for healthier cooking oils
Customers are actively looking for healthier cooking oil substitutes as knowledge of the connection between dietary decisions and health outcomes increases. With its higher concentrations of healthy monounsaturated fats and lower concentrations of unhealthy saturated fats, high-oleic soybean oil has become the go-to choice. Monounsaturated fats, especially the high-oleic soybean oil, which has a lot of oleic acid, have been linked to better cardiovascular health by lowering LDL cholesterol while keeping or even raising HDL cholesterol levels. Moreover, high-oleic soybean oil is becoming a more common ingredient in a number of food products marketed as heart-healthy or cholesterol-lowering, reflecting consumer preferences towards healthier oils.
Restraint:
Cost concerns for food manufacturers
While the stability, shelf life, and health benefits of high-oleic soybean oil are numerous, food manufacturers working within a tight budget may find it difficult to justify the premium price of this oil when compared to conventional soybean oil. Higher ingredient costs associated with using high-oleic soybean oil in food products could have an effect on profit margins, particularly for goods with narrow margins or those sold to consumers who are price conscious. However, a number of variables, including crop yields, market demand, and geographic location, can affect the accessibility and availability of high-oleic soybean oil at competitive prices.
Opportunity:
Growth of the population of health-conscious customers
A growing number of health-conscious consumers are actively searching for products that complement their dietary preferences and nutritional objectives, as there is an increased emphasis on health and wellness. With its advantageous fatty acid profile and related health advantages, high-oleic soybean oil offers a great chance to take advantage of this growing market niche. Additionally, high-oleic soybean oil has the potential to establish itself as the go-to option for health-conscious consumers who want to make well-informed decisions about their cooking oil choices as knowledge about the importance of dietary fats in general health continues to grow.
Threat:
Competition from non-traditional healthful oils
The competition from other healthy oils like olive, avocado, and coconut oil poses a serious threat to the high-oleic soybean oil market. Because of their distinctive flavor profiles, perceived health benefits, and ties to particular culinary traditions, these oils have become more and more popular among consumers. Furthermore, high-oleic soybean oil may face obstacles in terms of market penetration and consumer acceptability due to the marketing initiatives and well-established reputation of these alternative oils. Through focused marketing campaigns and consumer education initiatives, industry stakeholders in the high-oleic soybean oil sector must highlight the distinctive nutritional benefits, culinary adaptability, and sustainability credentials of high-oleic soybean oil in order to lessen this threat.
Covid-19 Impact:
The market for high-oleic soybeans has seen mixed results from the COVID-19 pandemic. Although the pandemic has increased awareness of health and wellness, there has been a challenge in the foodservice, logistics, and supply chain disruptions that have led to a demand for healthier cooking oils, such as high-oleic soybean oil. Market dynamics have been impacted by changes in demand patterns, fluctuations in consumer purchasing behaviour, and economic uncertainties. The pandemic's effects on labor availability, trade flows, and agricultural productivity have also affected supply-side factors for high-oleic soybeans. However, some of the negative effects have been lessened by the agricultural sector's resilience, efforts to adjust to shifting market conditions, and use of digital technologies for marketing and distribution.
The High Oleic Soybean Oil segment is expected to be the largest during the forecast period
The high-oleic soybean oil segment usually holds the largest share in the high-oleic soybean market. Because high-oleic soybean oil is used in so many different industries, such as food processing, foodservice, and industrial sectors, it commands a sizeable share of the market. High-oleic soybean oil is the oil of choice for baking, frying, salad dressings, and other culinary uses because of its exceptional stability, long shelf life, and health benefits. Furthermore, as a result of consumer demand for healthier cooking oils and ingredients, high-oleic soybean oil is becoming more popular among health-conscious consumers and food manufacturers looking for substitutes for conventional cooking oils that have higher saturated fat content.
The Food Industry segment is expected to have the highest CAGR during the forecast period
The market's highest CAGR is seen in the food industry segment. This section covers the range of uses of high-oleic soybean oil in the production of foods, such as baked goods, sauces, dressings, and snacks. Growth in this market is fueled by consumers growing preference for healthier food options as well as the high-oleic soybean oil's versatility and nutritional advantages. Food producers are repurposing goods to satisfy consumer demand for healthier ingredients and cleaner labels by using high-oleic soybean oil. Additionally, the market for high-oleic soybean oil within the food industry segment is growing due to the growing demand for plant-based foods and the development of functional food categories.
Region with largest share:
The European region holds the largest share of the global market for high-oleic soybeans. Europe has been seeing a rise in interest in high-oleic soybeans because of consumer demand for healthier cooking oils and sustainable food sources, even though the continent produces comparatively fewer soybeans than the US and South America. In an effort to increase crop yields and quality, nations like France, Germany, and the Netherlands have been actively growing high-oleic soybeans and funding research and development. Moreover, the strict regulations implemented by the European Union to encourage sustainable agriculture and healthier food options have also encouraged farmers and food manufacturers to use high-oleic soybeans.
Region with highest CAGR:
In the global high-oleic soybean market, Latin America is projected to have the highest CAGR. High-oleic soybean varieties have become remarkably popular in this region, especially in countries like Brazil and Argentina, as a result of growing consumer demand for healthier cooking oils and environmentally friendly farming methods. Owing to their abundant arable land, favourable climate, and agricultural technology advancements, Latin American countries have rapidly increased their production of high-oleic soybeans. Furthermore, high oleic soybean growth in the area has also been aided by the growing emphasis on ecologically friendly farming methods and the use of genetically modified crops.
Key players in the market
Some of the key players in High Oleic Soybean market include Bayer CropScience, Corteva Agriscience, AGP Grain Ltd., Syngenta Group, Bunge Limited, Monsanto, BASF SE, Calyxt, Archer Daniels Midland Company (ADM), Maverik Oils, Cargill, Incorporated and DowDuPont.
Key Developments:
In March 2024, Syngenta Vegetable Seeds and Emerald Seed Company have announced the signing of a licensing agreement that will provide Syngenta exclusive access to Emerald Seed’s high-quality genetics. Specifically, Syngenta said the partnership would allow it to continue investing in advancing onion seed germplasm and strengthen its offering in onion seeds, one of the most widely grown vegetable crops globally.
In November 2023, Corteva Agriscience, one of the world’s largest agriculture companies, and Manna Irrigation, a leading provider of irrigation intelligence software solutions, have announced a new contract to enhance effective irrigation practices. Corteva Agriscience implemented the Manna Irrigation Intelligence solution in more than 4,000 hectares in Austria across multiple locations.
In June 2023, Global life sciences firm Bayer said it has signed an agreement with US-based food major Cargill to empower smallholder farmers with digital solutions, including comprehensive information on market prices, weather forecasts, and pre- to post-harvest insights.
Product Types Covered:
• High Oleic Soybean Seeds
• High Oleic Soybean Oil
• Other Product Types
Types Covered:
• GMO
• Non-GMO
• Other Types
Grades Covered:
• Food
• Industrial
• Other Grades
Distribution Channels Covered:
• Direct Sales to Farmers
• Agribusiness and Distributors
• Food Manufacturers and Processors
Applications Covered:
• Cooking Oils
• Processed Foods
• Salad Dressings & Sauces
• Biofuels
• Other Applications
End Users Covered:
• Food Industry
• Foodservice
• Industrial Uses
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global High Oleic Soybean Market, By Product Type
5.1 Introduction
5.2 High Oleic Soybean Seeds
5.3 High Oleic Soybean Oil
5.4 Other Product Types
6 Global High Oleic Soybean Market, By Type
6.1 Introduction
6.2 GMO
6.3 Non-GMO
6.4 Other Types
7 Global High Oleic Soybean Market, By Grade
7.1 Introduction
7.2 Food
7.3 Industrial
7.4 Other Grades
8 Global High Oleic Soybean Market, By Distribution Channel
8.1 Introduction
8.2 Direct Sales to Farmers
8.3 Agribusiness and Distributors
8.4 Food Manufacturers and Processors
9 Global High Oleic Soybean Market, By Application
9.1 Introduction
9.2 Cooking Oils
9.3 Processed Foods
9.4 Salad Dressings & Sauces
9.5 Biofuels
9.6 Other Applications
10 Global High Oleic Soybean Market, By End User
10.1 Introduction
10.2 Food Industry
10.3 Foodservice
10.4 Industrial Uses
10.5 Other End Users
11 Global High Oleic Soybean Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Bayer CropScience
13.2 Corteva Agriscience
13.3 AGP Grain Ltd.
13.4 Syngenta Group
13.5 Bunge Limited
13.6 Monsanto
13.7 BASF SE
13.8 Calyxt
13.9 Archer Daniels Midland Company (ADM)
13.10 Maverik Oils
13.11 Cargill, Incorporated
13.12 DowDuPont
List of Tables
1 Global High Oleic Soybean Market Outlook, By Region (2021-2030) ($MN)
2 Global High Oleic Soybean Market Outlook, By Product Type (2021-2030) ($MN)
3 Global High Oleic Soybean Market Outlook, By High Oleic Soybean Seeds (2021-2030) ($MN)
4 Global High Oleic Soybean Market Outlook, By High Oleic Soybean Oil (2021-2030) ($MN)
5 Global High Oleic Soybean Market Outlook, By Other Product Types (2021-2030) ($MN)
6 Global High Oleic Soybean Market Outlook, By Type (2021-2030) ($MN)
7 Global High Oleic Soybean Market Outlook, By GMO (2021-2030) ($MN)
8 Global High Oleic Soybean Market Outlook, By Non-GMO (2021-2030) ($MN)
9 Global High Oleic Soybean Market Outlook, By Other Types (2021-2030) ($MN)
10 Global High Oleic Soybean Market Outlook, By Grade (2021-2030) ($MN)
11 Global High Oleic Soybean Market Outlook, By Food (2021-2030) ($MN)
12 Global High Oleic Soybean Market Outlook, By Industrial (2021-2030) ($MN)
13 Global High Oleic Soybean Market Outlook, By Other Grades (2021-2030) ($MN)
14 Global High Oleic Soybean Market Outlook, By Distribution Channel (2021-2030) ($MN)
15 Global High Oleic Soybean Market Outlook, By Direct Sales to Farmers (2021-2030) ($MN)
16 Global High Oleic Soybean Market Outlook, By Agribusiness and Distributors (2021-2030) ($MN)
17 Global High Oleic Soybean Market Outlook, By Food Manufacturers and Processors (2021-2030) ($MN)
18 Global High Oleic Soybean Market Outlook, By Application (2021-2030) ($MN)
19 Global High Oleic Soybean Market Outlook, By Cooking Oils (2021-2030) ($MN)
20 Global High Oleic Soybean Market Outlook, By Processed Foods (2021-2030) ($MN)
21 Global High Oleic Soybean Market Outlook, By Salad Dressings & Sauces (2021-2030) ($MN)
22 Global High Oleic Soybean Market Outlook, By Biofuels (2021-2030) ($MN)
23 Global High Oleic Soybean Market Outlook, By Other Applications (2021-2030) ($MN)
24 Global High Oleic Soybean Market Outlook, By End User (2021-2030) ($MN)
25 Global High Oleic Soybean Market Outlook, By Food Industry (2021-2030) ($MN)
26 Global High Oleic Soybean Market Outlook, By Foodservice (2021-2030) ($MN)
27 Global High Oleic Soybean Market Outlook, By Industrial Uses (2021-2030) ($MN)
28 Global High Oleic Soybean Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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