GCC Soybean Oil Market

GCC Soybean Oil Market Overview:

The GCC Soybean Oil Market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. The market is projected to register a CAGR of X% during 2023-2028, reaching US$ XX Billion by 2028. Soybean oil extracted from soybean seeds is a rich source of essential nutrients, including proteins, plant sterols and fatty acids. Besides this, it contains vitamin K, vitamin E, and Omega-6, making it one of the healthiest cooking oils available in the market. Its consumption aids in managing heart health, improving immunity, boosting skin and eye health, preventing osteoporosis, lowering cholesterol levels, and minimizing the threats of developing cognitive disorders. It is widely utilized for cooking as a preferred alternative to other oils in restaurants as well as households due to its several benefits, such as negligible saturated fat content, high smoke point, and neutral taste. In GCC, it is mainly used in the preparation of various nutritional supplements for intravenous feedings and as a mosquito repellent. Some of the food products that utilize soyabean oil for preparation include frozen foods, shortenings, margarine, salad dressings, bakery products, mayonnaise, and fried food items.

The growing consumption of soyabean oil among the masses majorly drives the market in GCC. This can be attributed to its relatively affordable price compared to other edible oils, including canola, groundnut, olive, and coconut oils. In addition, consumers who suffer from health conditions, such as high cholesterol, cardiovascular diseases, and obesity, are consuming soybean oil, which is catalyzing the sales of soyabean oil. Coupled with this, the inclination from ready-to-eat (RTE) products to home-cooked food items on account of the augmenting health consciousness among the masses is also significantly supporting the market. Apart from this, the increasing utilization of soyabean oil in the non-food industry for manufacturing caulks, plastics, insecticides, animal feed, resins, and mastics, is providing thrust to the demand. Moreover, the escalating adoption of soyabean oil in the manufacturing of biodiesel and an enhanced focus on sustainable development are creating a positive market outlook. Some other factors driving the market include rapid industrialization and continuous developments in the food and beverage industry.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC soybean oil market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC soybean oil market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC soybean oil market in detail for latest trends, outlook and opportunities.

The report analyses the competitive structure of the GCC soybean oil market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC soybean oil market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC soybean oil market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC soybean oil market industry. Furthermore, the value chain analysis of the GCC soybean oil market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

GCC Soybean Oil Market Segment Insights:

The GCC soybean oil market has been analysed as followed:

Segmentation by End-Use:

• Food
• Industrial
• Feed
• Others

Segmentation by Country:

• Saudi Arabia
• United Arab Emirates
• Qatar
• Kuwait
• Oman
• Bahrain

Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.

Competative Landscape: 

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Highlights of the GCC Soybean Oil Market Report:

• Historical and current scenario
• Trends and developments
• Market forecast
• Impact of COVID-19
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis

Report Customization:

The GCC soybean oil market report can be customized to as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs.