The global distribution of soybean oil for non-food uses is led by China, dominating with significant consumption, followed by Brazil and Argentina. In 2023, China saw a modest increase in its share, while Brazil and Argentina recorded lower growth. Notably, India and the United States also experienced growth, reflecting an overall trend of increasing demand. However, some countries like Venezuela saw a decline, impacting their contributions. Over the past five years, global usage has shown varying trends with stable growth in key markets such as India and Brazil. Conversely, some European nations like Portugal faced a decline in consumption.
Future trends to watch include:
- Emerging markets like India may continue to increase their share with policy support for biofuels and industrial uses.
- The United States could see substantial growth driven by increased demand for industrial applications and bioplastics.
- Brazil and Argentina might leverage their agricultural expertise to expand in sustainable practices impacting soybean oil utilization.
- Environmental policies and innovations in sustainable biofuels will play a critical role in shaping future consumption patterns.
Top countries in Soybean Oil Non-food Uses Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 51.07 | 2023 | +1.62% | +1.61% | View data |
| 2 | 2 Brazil | 16.02 | 2023 | +1.45% | +1.18% | View data |
| 3 | 3 Argentina | 9.5 | 2023 | +0.15% | +1.03% | View data |
| 4 | 4 India | 6.34 | 2023 | +1.67% | +3.22% | View data |
| 5 | 5 United States | 6.17 | 2023 | +3.93% | +2.98% | View data |
| 6 | 6 Bangladesh | 3 | 2023 | +3.21% | +2.95% | View data |
| 7 | 7 Egypt | 1.38 | 2023 | +4.35% | +2.17% | View data |
| 8 | 8 Peru | 1.13 | 2023 | +1.94% | +1.53% | View data |
| 9 | 9 Morocco | 0.93 | 2023 | +1.18% | +0.79% | View data |
| 10 | 10 Colombia | 0.65 | 2023 | +2.86% | +3.58% | View data |
