Argentina Soybean Oil Market Research Report, 2028

Argentina is one of the world's leading soybean producers, which directly influences the availability of soybeans for oil extraction. Soybean farming has become a linchpin of Argentina's economy, contributing significantly to its GDP. Soybean cultivation in Argentina has a relatively short history compared to other crops, but it has rapidly become a fundamental part of the country's agricultural traditions. Soybean oil is commonly used in the preparation of the marinades used for traditional Argentine barbecues, known as "asados." It is an essential ingredient in creating flavorful and tender grilled meats, a central part of Argentine culinary culture. Empanadas, a beloved Argentine snack or appetizer, often feature soybean oil in their pastry dough, making it flaky and delicious. The fillings can vary, but soybean oil in the dough is a consistent element. Street food vendors across Argentina rely on soybean oil for frying popular snacks such as churros, milanesas (breaded and fried cutlets), and papas fritas (French fries), contributing to the rich street food culture. Argentine food festivals and events celebrate the diversity of Argentine cuisine, with soybean oil being a fundamental ingredient in many dishes served during these festivities. Artisanal producers in Argentina use soybean oil as an essential ingredient in various traditional products, such as jams, preserves, and homemade baked goods. Soybean oil is a key component in many Argentine sauces and dressings, adding a smooth texture and neutral flavor to dishes like chimichurri (a tangy herb sauce) and salsa golf (a mayonnaise-based sauce). Alfajores are a popular Argentine dessert consisting of two cookies sandwiched together with a filling, often dulce de leche. Soybean oil is commonly used in making the soft, crumbly cookies that encase these sweet treats. Soybean oil is a common base for salad dressings in Argentina, adding a smooth texture and helping to emulsify the ingredients. Soybean oil has been traditionally used in Argentina as a means of preserving foods, such as pickled vegetables and conserves. According to the research report, “Argentina Soybean Oil Market Research Report, 2028" published by Actual Market Research, the market is expected to witness significant growth during the forecast period. Argentina has embraced biotechnology in agriculture, leading to the cultivation of genetically modified (GM) soybean varieties. These GM crops can have higher yields and resistance to pests and diseases, contributing to soybean oil production. Government incentives and policies that encourage investment in oilseed processing facilities have resulted in increased oil extraction capacity, benefiting the soybean oil sector. Bilateral and multilateral trade agreements can impact the export and import of soybean oil. Argentina's participation in trade agreements can open up new opportunities and markets for its soybean oil products. Investments in transportation, storage, and port facilities improve the efficiency of soybean oil logistics, reducing transportation costs and enhancing the industry's competitiveness. On-going research into the nutritional benefits of soybean oil, including its omega-3 fatty acids and potential health benefits, can influence consumer perceptions and drive demand. Environmental concerns related to agriculture, including deforestation and carbon emissions, may lead to sustainability initiatives that impact soybean oil production practices. Increasing consumer interest in organic and non-genetically modified (non-GMO) products can drive demand for organic and non-GMO soybean oil. The increasing global population translates to higher food demand, which can lead to greater consumption of soybean oil in food preparation and processing. The attainment of sustainability certifications, such as Rainforest Alliance or Fair Trade, can boost the marketability of Argentine soybean oil in eco-conscious consumer markets.

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Conventional soybean oil is typically more affordable than organic alternatives. In Argentina, where cost-consciousness often drives consumer choices, conventional soybean oil's lower price point makes it a preferred option for a significant portion of the population. Conventional soybean farming involves the use of synthetic pesticides and fertilizers, which can result in higher yields and cost efficiencies. This contributes to the prevalence of conventional farming practices in Argentina. Conventional soybean oil is readily available in a wide range of retail outlets, including supermarkets, hypermarkets, and smaller stores across Argentina. This accessibility makes it the default choice for many consumers. Conventional soybean oil has been a staple in Argentinean households for generations. It is deeply ingrained in the culinary traditions and cooking habits of the population, creating a sense of familiarity and trust. The affordability of conventional soybean oil makes it an attractive option for foodservice establishments, including restaurants, cafes, and fast-food chains. This is especially relevant in a country where dining out is common. Foodservice establishments, including restaurants, cafes, and catering services, often require soybean oil in larger quantities. Conventional soybean oil is commonly available in bulk packaging sizes that cater to the needs of these businesses. Conventional soybean oil production in Argentina complies with local and international regulations, ensuring its safety and suitability for consumption. Conventional soybean oil has a longer shelf life compared to some alternative oils, making it suitable for households that may not use large quantities of oil regularly. Soybean oil is staple cooking oil in Argentinean households. It is used extensively for frying, sautéing, and general cooking, making it an essential ingredient in daily meal preparation. Argentinean cuisine, known for its iconic dishes such as empanadas, milanesa, and choripán, relies heavily on soybean oil for frying and cooking. These traditional recipes contribute to the consistent demand for soybean oil in households. Soybean oil has a neutral flavor and aroma, making it versatile cooking oil that does not overpower the taste of dishes. This neutrality allows it to be used in a wide variety of culinary applications, appealing to a broad range of consumers. Soybean oil has a high smoke point, which is essential for frying and deep frying. This quality makes it ideal for achieving crispy and golden textures in fried foods, a preference among many Argentinean households. Conventional soybean oil is often more affordable than other cooking oils, making it an accessible choice for a significant portion of the population, including those with budget constraints. Argentinean households tend to have larger family sizes, which can result in higher consumption of cooking oil. As a result, households often purchase soybean oil in larger quantities. Soybean oil is deeply ingrained in Argentinean culture and is integral to the preparation of traditional dishes, such as asado (barbecue), empanadas, and locro. Its use in these cultural recipes is a testament to its importance in household kitchens. Argentina's diverse cuisine includes a wide range of dishes, from meat-based barbecue to pastries and desserts. Soybean oil's versatility allows it to be used in a variety of these dishes, further solidifying its place in daily cooking. A significant shift in consumer behaviour towards online shopping has been observed in recent years. More Argentinean consumers are opting for the convenience of shopping for groceries, including cooking oils like soybean oil, online. The e-commerce sector in Argentina has been experiencing substantial growth, driven by increased internet penetration, smartphone usage, and digital literacy. This growth has provided consumers with a convenient platform to purchase soybean oil online. Online platforms offer a vast selection of soybean oil brands, variants, and packaging sizes. Consumers have the flexibility to explore different options and make informed choices based on their preferences. Online platforms offer a vast selection of soybean oil brands, variants, and packaging sizes. Consumers have the flexibility to explore different options and make informed choices based on their preferences. Online retailers often provide home delivery services, eliminating the need for consumers to visit physical stores. This service is particularly appealing to busy individuals and families. Mobile apps offered by online retailers make it even more convenient for consumers to browse and purchase soybean oil using their smartphones or tablets. For instance, online shopping platforms where consumers often buy groceries, including soybean oil include MercadoLibre, Coto Online, Carrefour Online, Walmart Argentina, Dia Online, Jumbo Online, Amazon Argentina and many more.

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Nikita Jabrela

Business Development Manager

Considered in this report: • Geography: Argentina • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report: • Argentina Soybean Oil market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Nature • Conventional • Organic

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By End User • Household • Industrial • Food Service Distribution Channel • Convenience store • Hypermarket/Supermarket • Direct Sales • Online • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Soybean Oil industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.