Mexico Soybean Oil Market Outlook, 2028

Soybean cultivation in Mexico is primarily concentrated in the northern and north-western regions of the country. States like Sinaloa, Sonora, Tamaulipas, and Chihuahua are among the leading soybean-producing regions. Soybeans are often grown in rotation with other crops like wheat, maize, and cotton. Crop rotation helps improve soil fertility, reduce pests and diseases, and optimize land use. Farmers in Mexico employ various agricultural practices to cultivate soybeans. These practices can include both conventional and conservation tillage methods, depending on local conditions and preferences. Mexican farmers grow a mix of conventional and genetically modified (GM) soybean varieties. GM soybeans are often engineered for traits such as herbicide resistance or insect resistance, which can enhance crop yields and reduce the need for chemical inputs. Mexico's diverse climate allows for soybean cultivation throughout the year. In some regions, farmers can plant soybeans during both the summer and winter seasons, making it a year-round crop in certain areas. One of the driving factors behind increased soybean cultivation in Mexico is the growing demand for soybean products, including soybean oil, soybean meal for animal feed, and soy-based food products. The Mexican food industry uses soybean oil in a wide range of products, including cooking oils, margarine, and processed foods. Soy-based food products, such as tofu and meat substitutes, have also gained popularity. Soybean meal is a crucial component of animal feed in Mexico. The poultry, swine, and livestock sectors rely on soybean meal for its protein content, making it an essential ingredient for the country's growing livestock industry. While soybean production in Mexico has expanded, there are sustainability concerns related to deforestation and land use changes associated with soybean farming. Efforts are underway to promote sustainable agricultural practices. Mexico's soybean exports are relatively modest compared to its domestic consumption. However, some Mexican soybeans and soybean products are exported to international markets, including the United States and other Latin American countries.

According to the research report, “Mexico Soybean Oil Market Overview, 2028" published by Bonafide Research, the market is expected to witness significant growth during the forecast period. One prominent trend is the rising domestic consumption of soybean oil in Mexico. It is commonly used in households for cooking, frying, and salad dressings, making it a staple in Mexican cuisine. The growing population and urbanization contribute to increased demand. Health-conscious consumers in Mexico are driving the demand for healthier cooking oils. Soybean oil, which is low in saturated fat and high in unsaturated fats like omega-6 fatty acids, is often marketed as a heart-healthy choice. Specialty soybean oils, such as high-oleic soybean oil, have gained popularity due to their improved stability and suitability for high-heat cooking. These oils are often marketed for their extended shelf life and suitability for frying applications. Specialty soybean oils, such as high-oleic soybean oil, have gained popularity due to their improved stability and suitability for high-heat cooking. These oils are often marketed for their extended shelf life and suitability for frying applications. Consumers are increasingly interested in product labelling and transparency. Clear labelling regarding the origin, processing methods, and sustainability practices involved in soybean oil production can influence purchasing decisions. Government policies related to agriculture, trade, and food safety can have a significant impact on the soybean oil market. Supportive policies or regulations can stimulate production and consumption. Government policies related to agriculture, trade, and food safety can have a significant impact on the soybean oil market. Supportive policies or regulations can stimulate production and consumption.

Consumers in Mexico, like in many other regions, are increasingly seeking products with natural and clean labels. Organic soybean oil, by its very nature, meets these expectations as it is produced without synthetic chemicals or additives. This clean label appeal resonates with consumers who prioritize transparency and authenticity in their food choices. There is a growing awareness among Mexican consumers about health and wellness. Many consumers are seeking healthier dietary options, including organic products. Organic soybean oil is perceived as a healthier choice because it is produced without synthetic pesticides, herbicides, or genetically modified organisms (GMOs). This aligns with the health-conscious preferences of consumers. The organic segment benefits from certifications that guarantee the organic status of products. Certifying bodies ensure that organic soybean oil adheres to strict production standards. This certification provides consumers with confidence in the authenticity of organic claims, further driving demand. Organic products are associated with a higher level of food safety and quality assurance. Consumers view organic soybean oil as a premium product with fewer concerns about pesticide residues or synthetic additives, which can be associated with conventional counterparts. Organic soybean oil is favored by consumers who are passionate about cooking and culinary experiences. Its premium status and perceived higher quality make it a suitable choice for gourmet and specialty cooking applications. For instance, Some popular organic soybean oil brands in Mexico include Nature's Basket, Nutiva, Spectrum Organic, NOW Foods, La Tourangelle, De La Cruz, Ekstroms, La Costeña Organi, Sanissimo, De Soly Organic and more.

Soybean oil is versatile and widely used cooking oil in Mexican households. It serves as a primary cooking medium for daily culinary needs, including frying, sautéing, stir-frying, and as a general-purpose cooking oil. Its neutral flavor allows it to complement a wide range of dishes, making it a staple in household kitchens. Soybean oil is cost-effective and affordable, making it accessible to a broad spectrum of Mexican households, including those with varying income levels. Its affordability is particularly appealing in a price-sensitive market. Soybean oil is widely available in supermarkets, grocery stores, and local markets throughout Mexico. Its easy accessibility ensures that households can easily procure soybean oil when needed for cooking. Soybean oil's high smoke point, typically around 450°F (232°C), makes it suitable for deep frying, which is a common cooking method in Mexican cuisine. Households often use soybean oil for frying snacks, tortillas, churros, and other fried foods. Many Mexican families have traditional recipes that have been passed down through generations. These recipes often specify the use of soybean oil, contributing to its enduring presence in household kitchens. Mexican households, on average, tend to have larger family sizes. This means that households require larger quantities of cooking oil to prepare meals for their families, resulting in higher consumption of soybean oil. Mexican households are often accustomed to the taste and aroma of dishes prepared with soybean oil. The familiarity of soybean oil in traditional recipes contributes to its continued preference.

Mexico has experienced significant urbanization, with more people residing in cities and urban areas. This shift has led to busier lifestyles, and consumers often seek convenience in their daily shopping routines. Convenience stores, with their extended operating hours and proximity to residential areas, cater to these urban consumers. Convenience stores are designed for quick and accessible shopping. Consumers can conveniently pick up everyday essentials, including soybean oil, without the need for a lengthy trip to larger supermarkets or hypermarkets. This level of convenience appeals to time-pressed consumers. Convenience stores are strategically located throughout urban and suburban areas, ensuring widespread coverage. This localization minimizes the need for consumers to travel long distances for their grocery needs, making it a preferred choice for quick and frequent shopping trips. Many convenience stores operate 24/7 or have extended hours compared to other retail formats. This flexibility accommodates varying schedules, allowing consumers to purchase soybean oil at their convenience, even during non-traditional shopping hours. Convenience stores are well-suited for single-item purchases, such as buying a single bottle of soybean oil. This is particularly convenient for consumers who do not need to buy in bulk or prefer smaller packaging sizes. Consumers often visit convenience stores for emergency and top-up shopping. If a household runs out of soybean oil unexpectedly, convenience stores provide a quick solution, preventing disruptions to meal preparation. Convenience stores frequently offer promotions and discounts on various products, including soybean oil. These promotions incentivize customers to make purchases and may lead to increased sales.



Considered in this report:
• Geography: Mexico
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• Mexico 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

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.