As of 2023, China was the leading producer of soybean oil, with production reaching 20.69 million metric tons. The United States followed with 12.07 million metric tons, while Brazil and Argentina closely competed with 9.29 million and 9.07 million metric tons, respectively. India, Mexico, Russia, and other countries contributed smaller volumes. The historical data up to 2023 did not show any significant year-on-year percentage variation or major fluctuations in production, indicating stability. The CAGR analysis reflects a steady phase in the global soybean oil market from 2021 to 2023.
Looking ahead to 2030, factors such as advances in agricultural practices, climate change implications, and geopolitical developments will be crucial. Watch for potential shifts as China, the U.S., Brazil, and Argentina maintain their influence, with emerging players possibly altering production dynamics. Sustainability initiatives and technological innovations could further shape the industry.
Top countries in Soybean Oil Production, Forecast 2021-2030 by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | |
|---|---|---|---|---|
| 1 | 1 China | 20,690 | 2030 | View data |
| 2 | 2 United States | 12,070 | 2030 | View data |
| 3 | 3 Brazil | 9,290 | 2030 | View data |
| 4 | 4 Argentina | 9,070 | 2030 | View data |
| 5 | 5 India | 2,030 | 2030 | View data |
| 6 | 6 Mexico | 1,260 | 2030 | View data |
| 7 | 7 Russia | 923.8 | 2030 | View data |
| 8 | 8 Egypt | 844.7 | 2030 | View data |
| 9 | 9 Bangladesh | 679.7 | 2030 | View data |
| 10 | 10 Pakistan | 566.5 | 2030 | View data |
