Market Overview
Soybean Oil
Americans consume more soybean oil than all other types of oils combined. Because soybean oil is so widely used, food companies look to the soybean industry to provide new oils that meet their ever-changing needs.
The Customized Solution
The soybean oil industry is shifting from a nearly equal split between hydrogenated soybean oils toward one that will include a variety of soybean oils customized to the needs of the marketplace.
In 2000, hydrogenated soybean oil constituted over half of soybean oil utilization.
By 2009 consumers were more focused on health, and they were seeking to avoid foods that contained trans fat. The soybean oil industry responded by introducing low-linolenic soybean oil, which replaced some of the hydrogenated soy oil market. Some food companies switched from hydrogenated soybean oil to commodity soybean oil, or reformulated products using low-lin or other types of oils.
By 2020, we anticipate that several more types of soybean oil will be available, making commodity soybean oil a smaller portion of the pie.
