The 2023-2028 World Outlook for Soybean Oils
This study covers the world outlook for soybean oils across more than 190 countries. For each year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the country in question (in millions of U.S. dollars), the percent share the country is of the region, and of the globe. These comparative benchmarks allow the reader to quickly gauge a country vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.
This study covers soybean oils as defined by the North American Industrial Classification system or NAICS (pronounced "nakes").
The NAICS code for soybean oils is 3112221. It is for this definition that aggregate latent demand estimates are derived. Soybean oils is specifically defined as follows:
3112221 Soybean oil
31122211 Crude soybean oil, degummed
31122212 Soybean oil, all other types
3112221111 Crude soybean oil, degummed
3112221151 Soybean oil, crude (including degummed, blown, boiled, heat treated, and acid refined)
3112221221 Crude soybean oil, not degummed
3112221231 Soybean oil, once refined (after alkali or caustic wash but before deodorizing or use in end products)
3112221241 Soybean oil processed for inedible purposes (acid refined, etc.)
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook