Market research

Soybean oil and fractions market in Asia

$Soybean oil and fractions market in Asia$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Submission method: to your account

File format: docx, xlsx

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"Asia" region includes following countries:

China

Hong Kong

Japan

North Korea

South Korea

Macao

Mongolia

Afghanistan

Bangladesh

Bhutan

Sri Lanka

India

Iran

Maldives

Nepal

Pakistan

Brunei Darussalam

Myanmar

Cambodia

Indonesia

Laos

Malaysia

the Philippines

Timor-Leste

Singapore

Vietnam

Thailand

Kazakhstan

Kyrgyzstan

Tajikistan

Turkmenistan

Uzbekistan

Azerbaijan

Armenia

Bahrain

Cyprus

Georgia

Palestine

Iraq

Israel

Jordan

Kuwait

Lebanon

Oman

Qatar

Saudi Arabia

Syria

Turkey

the United Arab Emirates

Yemen

Earlier Report Observations

The market volume for soybean oil in Asia fluctuated between 23 273 thousand tonnes and 25 837 thousand tonnes from 2018 to 2023. The period began with major companies expanding production facilities and launching new products, supporting overall supply. However, in 2019, tighter labeling and quality regulations, especially for non-GMO products, contributed to a slight market contraction.

The COVID-19 pandemic in 2020 altered consumption patterns and accelerated the expansion of online sales channels, which improved market accessibility and helped drive volume growth. This upward trend continued into 2021, fueled by stricter environmental regulations and rising consumer demand for sustainably produced and non-GMO soybean oil, stimulating both production and consumption.

A significant shift occurred in 2022 when changes in import regulations restricted inflows, leading to a notable drop in market volume. In 2023, global supply chain disruptions and volatility in raw material prices contributed to a further, though more modest, decline in the market.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Asia
  1. 5.1.1. Annual dynamics of production in Asia in kind, 2018-2023, K t
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data*)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's imports to China in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's imports in kind to China by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to China in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to China by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to China, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to China by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's imports to China in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's imports in kind to China by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to China in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to China by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to China, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to China by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data*)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's exports from China in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's exports in kind from China by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from China in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from China by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from China, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from China by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's exports from China in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's exports in kind from China by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from China in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from China by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from China, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from China by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production soybean oil and fractions in Asia

In kind, 2017-2020, K t

Top producers of soybean oil and fractions, 2017-2020

Source: SHEV.io

World map of production of soybean oil and fractions, 2017-2020

Source: SHEV.io

Asia's production of soybean oil and fractions has grown for the third year in a row. In 2020, the region produced 21 787 thousand tons, marking a modest increase of 4.3% compared to 2019. Looking at the period from 2017 to 2020, production rose by 5.4%, which translates to an average annual growth rate of 1.8%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	0.4%	0.6%	4.3%	1.8%

Source: SHEV.io

In value, 2017-2020, M $ US

Following a two-year decline, Asia's production of soybean oil and fractions rebounded in 2020. The output was valued at 22 442 million US dollars, showing a strong increase of 10.2% from 2019. However, over the broader span from 2017 to 2020, production value fell by 15.4%, averaging an annual decrease of 5.4%. The lowest point was in 2019, at 20 361 million US dollars, which also saw the steepest drop of 12.8%.

Annual dynamics of production in Asia in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(12.0%)	(12.8%)	10.2%	(5.4%)

Source: SHEV.io

Exports soybean oil and fractions from Asia

Exports in kind, K t

Asia's exports of soybean oil and fractions have expanded for the third consecutive year. In 2020, export volume reached 781 thousand tons, up 23.0% year-over-year. From 2017 to 2020, exports surged by 97.5%, with an average annual growth rate of 25.5%.

Annual dynamics of product's exports from Asia in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	52.4%	5.3%	23.0%	25.5%

Source: SHEV.io

Between 2017 and 2020, Asia's export structure in volume terms was highly diversified. Key partners like Algeria (5.1% of exports), Australia (4.3%), and New Zealand (1.3%) together accounted for just 10.8% of total flows, while the remaining 89.2% was spread across numerous smaller markets.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Asia in kind, 2017-2020

Source: SHEV.io

Exports in value, M $ US

In 2020, Asia's soybean oil and fractions exports were valued at 804 million US dollars, reflecting a sharp increase of 30.0% compared to the previous year. Over the 2017-2020 period, export value grew by 58.4%, averaging 16.6% per year. The largest decline occurred in 2019, at 8.7%, while the biggest jump was in 2018, with a 33.5% rise.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	33.5%	(8.7%)	30.0%	16.6%

Source: SHEV.io

From 2017 to 2020, major buyers of Asia's soybean oil and fractions included Australia (4.0% of export value), Algeria (3.9%), and New Zealand (1.4%). Together, they represented only 9.3% of total export value, highlighting a broadly diversified partner base.

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Asia in value, 2017-2020

Source: SHEV.io

Imports soybean oil and fractions to Asia

Imports in kind, K t

After two years of decline, Asia's imports of soybean oil and fractions increased in 2020. Import volume stood at 3 092 thousand tons, up 2.3% year-over-year. However, from 2017 to 2020, imports decreased by 16.8%, averaging an annual decline of 6.0%. The lowest volume was recorded in 2019, at 3 023 thousand tons, which also saw the largest drop of 14.9%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(4.4%)	(14.9%)	2.3%	(6.0%)

Source: SHEV.io

During 2017-2020, Argentina (44.8% of import volume), Brazil (16.2%), and the United States (9.5%) were the key suppliers of soybean oil and fractions to Asia, jointly making up 70.5% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Asia in kind, 2017-2020

Source: SHEV.io

Imports in value, M $ US

Following a two-year reduction, Asia's imports of soybean oil and fractions rose in 2020. The region imported approximately 2 457 million US dollars worth, representing a solid increase of 10.2% from 2019. Over the 2017-2020 period, import value fell by 22.8%, with an average annual decrease of 8.3%. The minimum was in 2019, at 2 229 million US dollars, which also experienced the steepest decline of 22.8%.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(9.4%)	(22.8%)	10.2%	(8.3%)

Source: SHEV.io

From 2017 to 2020, Argentina (43.5% of import value), Brazil (15.6%), and the United States (9.8%) were the primary suppliers of soybean oil and fractions to Asia, together accounting for 69.0% of total import value.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Asia in value, 2017-2020

Source: SHEV.io