A latest report by IMARC Group, titled "Soybean Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022", finds that the global soybean oil market has grown at a CAGR of around 3% during 2009-2016 with the consumption volumes reaching 47 Million Tons in 2016. Soybean oil is extracted from the seeds soybean and represents the second most consumed oil after palm oil. It is rich in a number of fatty acids along with a variety of plant sterols, vitamins and minerals which are good for human health. Some of the several health benefits offered by soybean oil include regulating cholesterol levels and reducing the risk of heart diseases, boosting immunity, improving bone health, preventing and controlling Alzheimer's disease and protecting the skin cell membranes from infections. Apart from being used for human consumption, soybean oil also finds applications in the production of animal feed. Some other industrial applications of soybean oil include the production of candles, soaps, insecticides, caulks and mastics, bio-composites, biodiesels, cleaners, industrial lubricants, paints, solvents, crayons, inks, hydraulic fluids and foams.