High Oleic Soybean Market Size - By Grade (Food, Industrial), By Application (Cooking Oils, Processed Foods, Salad Dressings & Sauces, Biofuels), By Distribution Channel (Direct, Retail, Online) & Forecast, 2024 - 2032

High Oleic Soybean Market Size - By Grade (Food, Industrial), By Application (Cooking Oils, Processed Foods, Salad Dressings & Sauces, Biofuels), By Distribution Channel (Direct, Retail, Online) & Forecast, 2024 - 2032

High Oleic Soybean Market is set to observe more than 12.3% CAGR between 2024 and 2032, owing to the increasing demand for healthier cooking oils and ingredients in the food sector. With consumers becoming more health-conscious and seeking alternatives to traditional oils high in saturated fats, the nutritional profile of high oleic soybean oil, which is low in unhealthy fats and high in beneficial monounsaturated fats, is appealing to a wide audience. For example, in May 2023, Sevita Genetics received governing approval for Alinova, a non-GMO, high-oleic soybean variety for food-grade soybean production for Canada.

High oleic soybean varieties exhibit improved agronomic traits, such as increased yield potential, enhanced disease resistance, and greater tolerance to adverse environmental conditions. As a result, farmers are increasingly turning to high oleic soybeans as a profitable alternative for offering higher returns on investment and greater sustainability compared to conventional soybean varieties.

The high oleic soybean industry is divided into grade, application, distribution channel and region.

Based on application, the market value from the processed foods segment will record a 12.5% growth rate between 2024 and 2032, due to the strong need to offer a longer shelf life and greater stability compared to traditional oils. High oleic soybean enhances the durability of food products and reduces the need for preservatives, aligning with consumer preferences for clean label products. Additionally, neutral flavor profile and excellent frying capabilities make high oleic soybean suitable for a wide range of processed food applications, including snacks, baked goods, and convenience foods.

As per distribution channel, the high oleic soybean market from the online segment will witness 12.2% CAGR throughout 2024-2032. This is favored by their convenience and accessibility that makes easier for consumers to access a wide range of high oleic soybean products from the comfort of their homes. This accessibility is particularly appealing to health-conscious consumers seeking healthier cooking oil alternatives. Online channels also provide ample opportunities for product visibility and marketing, enabling manufacturers to reach a broader audience and educate consumers about the product benefits.

North America high oleic soybean industry will witness rapid expansion at 12.5% CAGR during the forecast period. The increasing consumer demand for healthier cooking oil alternatives aligns with the growing emphasis on health and wellness among North American consumers, driving the product usage in various food applications. Additionally, the agricultural benefits of high oleic soybeans, including enhanced yield potential and improved resistance to pests and diseases is incentivizing farmers to cultivate these varieties, further contributing to the regional market growth.