Soybean Oil Market to Hit $57.66B by 2031 as Biofuel Demand Surges
Hyderabad – September 21, 2026 -- The global soybean oil market is set to expand from $43.87 billion in 2026 to $57.66 billion by 2031, a 5.62% compound annual growth rate, according to Mordor Intelligence. Renewable diesel mandates and the EU Deforestation Regulation are reshaping demand and sourcing patterns across the value chain, while new crushing capacity in Brazil and Argentina offsets slower North American expansion.
US biofuel mandates lock in record demand floor for soybean oil
The EPA finalized record-high Renewable Fuel Standard volumes for 2026 and 2027 in March 2026, with biodiesel and renewable diesel production projected to grow more than 60% versus 2025 levels. The rule strengthens crush margins for domestic processors and guarantees a structural demand base that buffers the market against swings in food consumption, according to the report.