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Vegetable Oils - Global Market Trajectory & Analytics

  • ID: 338679
  • Report
  • April 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • AarhusKarlshamn (AAK AB)
  • Avril Group
  • Carapelli Firenze S.p.A.
  • Deoleo
  • Ltd.
  • PT Astra Agro Lestari Tbk
  • MORE
Health Benefits & Robust Demand from Processed Foods Sector to Drive Vegetable Oil Consumption to 302 Million Metric Tons

The global market for Vegetable Oils is expected to reach 302.2 million metric tons by the year 2027, trailing a post COVID-19 CAGR of 5.1% over the analysis period 2020 to 2027.Encompassing a wide range of commodities traded actively across the world, oilseeds constitute one of the most dynamic industries in agriculture. The oil produced after crushing the seeds is called vegetable oil, which is mainly used in culinary applications. 'Westernization of diets' which mandates more use of vegetable oils in cuisines, substituting the animal fats, had given a major thrust for the global oilseed industry over the years. Usage of oil for industrial applications is also growing significantly, noteworthy among them being the utilization for biofuel production. South America and the US dominate soybean production globally, while Indonesia and Malaysia are the leading exporters of oil palm. Canola or rapeseed is exported largely by Australia. The US would continue to hold on to its leading position in oilseed production and will be followed by Brazil, China, Argentina, India and EU. On the demand side, China with its insatiable demand for oil owing to its burgeoning population emerged as the most significant consumer of oilseeds, oil and meal, with demand in China currently underpinning oilseed prices globally.

Vegetable oils are used for cooking, baking, sautéing & drizzling food and salads. Unsaturated oils are growing in popularity for their heart healthy benefits. Vegetable oils are trans-fat free & are widely used in the processed foods industry. These oils are also used as a replacement for unhealthy hydrogenated vegetable fats. In addition to health benefits and the growing demand for healthy for you foods, rising demand in the processed foods industry is also due to its good emulsifying ability and neutral flavor. Growth in the post COVID-19 period will continue to be driven by growing consumer interest in healthy, organic, and unprocessed/unrefined vegetable oils; and huge market potential offered by biofuel applications. Low-fat, low-cholesterol and low-calorie vegetable oils are especially poised to benefit against the backdrop of growing consumer focus on health and fitness. Developing markets offer opportunities in the form of greater potential for higher market penetration and growth in per capita consumption, while in the developed markets, innovation in new flavors and healthy ingredients will help spruce up consumption. Other major trends and drivers in the market include growing preference for canola oil in the food service industry; increasing health-consciousness among consumers and the ensuing strong demand for organic vegetable oils; increasing R&D initiatives revolving around trans-fat free soybean oil; surging popularity of olive oil as households shift to phytonutrients rich olive oil based cuisines; expanding applications of palm oil coupled with improvements in sustainable production of palm oil; and emerging non-edible applications such as printing inks, among others.

Asia-Pacific represents the dominant consumer of vegetable oils, worldwide. Large population, urban sprawl, growing demand for biodiesel and other non-food uses such as oleo-chemical usage, and large volumes of palm oil production in Indonesia and Malaysia are key growth drivers in Asian vegetable oils market. Nearly 53% of the world's population lives in Asia and its large population combined with rising income augment the demand for vegetable oils. The Asian vegetable oils market is dominated by palm and soybean oil production which account for a larger share due to the rapid growth in palm tree plantations in Malaysia and Indonesia. Palm, soya and rapeseed oil are widely consumed in Asia. As the second largest producer of oilseeds in global vegetable oils market, Asia dominates in production of palm kernel, cottonseed, copra and groundnut. Except olive oil, the ten oilseeds such as soya, palm, groundnut, rapeseed, cotton, sunflower, corn, sesame, palm kernel, and coconut oil which constitute the majority of global production are produced in significant quantities. China, India and Pakistan are the leading vegetable oil importers. In Indonesia, Malaysia, Thailand and Singapore, vegetable oil consumption comprises of a significant share of bio-diesel and oleo-chemical use. Government mandates drive bio-diesel demand while the trend of substituting petroleum with palm oil to improve biodegradability and sustainability creates demand for oleo-chemical usage. Increase in demand for vegetable oils from both food and industrial end-markets are a healthy sign indicating a sustainable growth for the industry in future. Several large vegetable oil suppliers, especially in developed countries, in order to tighten their grip on raw material procurement, processing and distribution of vegetable oils are resorting to vertical integration of businesses. Large companies focused on acquiring oil seed plantations and increasing raw material production capacity in the upstream, while in the downstream, they emphasized on brand management in order to exercise control on the market. Several companies have also transformed processing plants into multicrushing facilities for achieving scale benefits. Few niche industry players have also refurbished product portfolios incorporating more of high-value and low-volume premium products. The trend of suppliers moving towards specialty products is more pronounced in the European market.

Select Competitors (Total 263 Featured):
  • AarhusKarlshamn (AAK AB)
  • Aceites Borges Pont S.A.
  • ACH Food Companies, Inc.
  • Adani Wilmar Limited (AWL)
  • Archer Daniels Midland Company
  • Avena Nordic Grain Oy
  • Avril Group
  • Bunge Limited
  • Bunge Loders Croklaan Group BV
  • Bunge North America, Inc.
  • C. Thywissen GmbH
  • Carapelli Firenze S.p.A.
  • Cargill Incorporated
  • COFCO Corporation
  • Corteva Agriscience
  • Deoleo
  • S.A.
  • Golden Agri-Resources Ltd.
  • IOI Group Berhad
  • J-Oil Mills
  • Inc.
  • Marico Limited
  • Mazola Oils
  • P. T. Musim Mas
  • PT Astra Agro Lestari Tbk
  • PT Smart Tbk
  • Richardson Oilseed Limited
  • Royal Smilde Foods
  • Sime Darby Plantation Sdn Bhd
  • Sovena Group
  • Sundrop Foods India Private Limited
  • The J. M. Smucker Company
  • The Nisshin OilliO Group
  • Ltd.
  • Ventura Foods, LLC
  • Wilmar International Limited
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • AarhusKarlshamn (AAK AB)
  • Avril Group
  • Carapelli Firenze S.p.A.
  • Deoleo
  • Ltd.
  • PT Astra Agro Lestari Tbk
  • MORE
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Enduring the Impact of COVID-19 Pandemic, VegeTable Oils Market Set to Post Healthy Gains
  • Market Highlights
  • Key Challenges & Constraints
  • Consumption Pattern in Asia-Pacific Augurs Well for Current and Future Growth of the Market
  • Exhibit 1: Per Capita Consumption (Kilograms) of VegeTable Oils by Region/Country: 2019
  • Production Landscape
  • Oilseeds Production
  • Exhibit 2: World Oilseeds Production by Country (2017, 2018, 2019, 2020 & 2021E): Breakdown of Volume Production (in Million Metric Tons) for Brazil, United States, China, Argentina, India, and Others
  • Exhibit 3: World VegeTable Oilseeds Production by Type (2017, 2018, 2019, 2020 & 2021E): Breakdown of Volume Production (in Million Metric Tons) for Copra, Cottonseed, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflowerseed
  • Exhibit 4: Global Oil Yield (Tons per Hectare) for Major Oilseed Crops
  • VegeTable Oils Production
  • Exhibit 5: World VegeTable Oils Production by Country/Region (2017, 2018, 2019, 2020 & 2021E): Breakdown of Volume Production (Million Metric Tons) for Indonesia, China, Malaysia, EU, United States, Argentina, Brazil, and Others
  • Exhibit 6: Global Production of Major VegeTable Oils by Type (2017, 2018, 2019, 2020 & 2021E): Breakdown of Volume Production (Million Metric Tons) for Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, and Sunflowerseed Oil
  • Palm Oil
  • Exhibit 7: Global Palm Oil Production by Country (2017, 2018, 2019, 2020 & 2021E): Breakdown of Production Volume (Thousand Metric Tons) for Indonesia, Malaysia, Thailand, Colombia, Nigeria, and Others
  • Exhibit 8: Annual Production Capacity for Certified Sustainable Palm Oil and Palm Kernel for 2010-2017 in MMT
  • Exhibit 9: Total Certified Palm Oil (CSPO) Production Area (in Million Hectares): 2015-2020
  • Soybean Oil
  • Exhibit 10: Global Soybean Oil Production by Region/Country (2017, 2018, 2019, 2020 & 2021E): Breakdown of Production Volume (Thousand Metric Tons) for China, United States, Brazil, Argentina, European Union, India, Mexico, and Others
  • Sunflowerseed Oil
  • Exhibit 11: Global Sunflowerseed Oil Production by Region/Country (2019, 2020 & 2018E): Breakdown of Production Volume (Thousand Metric Tons) for Argentina, Russia, Turkey, Ukraine, European Union, and Others
  • Olive Oil Production
  • Competitive Landscape
  • Demand Increase Triggers Industry Consolidation
  • Exhibit 12: Leading VegeTable Oil Companies Worldwide: 2020
  • Competitive Scenario in the Palm Oil Market: Asian Producers Dominate the Market
  • Ranking of Leading Producers of Sustainable Palm Oil
  • Leading Palm Oil Traders with Zero Deforestation Commitment: Ranked in Order of Number of Zero Deforestation Policies Implemented
  • Key Competitive Traits
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
  • WORLD BRANDS
3. MARKET TRENDS & DRIVERS
  • Food Industry, Representing around Half of World Consumption, Remains the Major Application Market for VegeTable Oils
  • Growing Preference for Healthy, Organic & Unprocessed Cooking Oils
  • Growing Awareness about Saturated Fatty Acids & Omega-6 in VegeTable Oils
  • Exhibit 13: Fatty Acid Profiles of Major Cooking Oils - Butter, Olive, Coconut, Palm, Safflower, Corn, Soybean, and Canola
  • Growing Health Consciousness & Demand for Convenience Foods
  • Rise of the Vegetarianism & Customization to Local Tastes
  • Increasing Product Diversity & Broad Range of New Options
  • Biofuels: The New Growth Avenue for VegeTable Oils
  • Exhibit 14: Global Biodiesel Production (Million Tons): 2013, 2015, 2017 & 2019
  • Exhibit 15: Global Biofuels (Fuel Ethanol and Biodiesel) Market by Product Type (2019): Percentage Breakdown of Volume Consumption for Biodiesel and Fuel Ethanol
  • Exhibit 16: Global Biofuels Production by Region/Country (1995-2025): Breakdown of Volume Production (Million barrels per day of oil equivalent) for Brazil, EU, United States, and Others
  • Exhibit 17: Average Biofuel Yields of First Generation Feedstock
  • Evolving Role in Industrial Applications Augurs Well for Future Expansion
  • Palm Oil: Largest & Fastest Growing Product Segment
  • Exhibit 18: Global Per Capita Palm Oil Consumption (Kilograms) for Major Countries: 2016 & 2020
  • Myriad Food and Non-Food Applications Lend Traction to Market Demand
  • Exhibit 19: Breakdown of Palm Oil Volume Consumption (in %) in Food and Non-Food Sectors (2010 & 2020)
  • Increasing R&D Emphasis Elevates Prospects of Soybean Oil against Competing Oils
  • New Generation Formulations Come to the Fore to Widen Addressable Market
  • Growing Preference from the Food Service Industry Boosts Demand for Canola Oil
  • Robust Image of Sunflower Oil as a Healthy Alternative to TFAs Spurs Demand
  • Backed by Incredible Nutrition Benefits, Coconut Oil to Sustain Momentum
  • Despite Being the Most Expensive of All VegeTable Oils, Olive Oil Continues to Experience High Demand
  • Health and Environment Benefits Promote Demand for Maize Oil
  • Demographic Trends Strongly Favor Future Growth in World VegeTable Oil Market
  • Growing Population
  • Exhibit 20: World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Urban Sprawl
  • Exhibit 21: World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050P
  • Expanding Middle Class Population
  • Exhibit 22: Global Middle Class Population (in Millions) and as a Percentage of Total Population: 2005, 2015, 2025 & 2035
  • Despite Challenges, Global VegeTable Oil Refining Offers Lucrative Opportunities
  • Innovations & Research Findings Strengthen Market Prospects
  • Steady Proliferation of Technology for Boosting Oilseed & VegeTable Oil Output
  • R&D Efforts Enable the Launch of Zero Trans-Fats Oils
  • Ohio State University Study Reveals Potential Heart Health & Lowered Diabetes Risk Benefits of VegeTable Oils with High Linoleic Acid Levels
  • Italian Researchers Identify Positive Effects of Extra Virgin Olive Oil on Meat Lipids Digestion
  • Cargill & BASF Develop Canola Oil with Beneficial Omega-3 EPA and DHA
  • Dow Rolls Out Omega-9 Sunflower Oil for Food Applications
  • Roundtable-On-Sustainable-Palm-Oil (RSPO): A Solution to Palm Oil’s Biodiversity and Sustainability Related Issues?
  • Exhibit 23: Leading Producers of Palm Oil Worldwide: Approximate Percentage Share of Production of RSPO
  • Rising Hostility for GMO Based Oils: A Major Cause for Concern?
  • VegeTable Oils: An Evolutionary Scan
  • Chemical & Physical Properties of VegeTable Oils
  • VegeTable Oils: Product Classification
  • Edible VegeTable Oils: Production Process
  • Extraction Methods
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • UNITED STATES
  • Despite Popularity of Alternative VegeTable Oils, Soybean Oil Continue to Dominate Consumption
  • Focus on Sustainable Production to Drive Strong Demand for Palm Oil
  • Health Benefits Spurs Olive Oil Sales
  • Exhibit 24: US Olive Oils Market by Type (2020E): Percentage Breakdown of Value Sales of Gourmet, Mainstream/Commodity, Premium, and Specialty Olive Oils
  • US Corn Oil Witness Increasing Demand from the MENA Region
  • VegeTable Oil in Biodiesel Production Gain Prominence
  • Low Emission Properties Stimulate Market for VegeTable Oil-Based Engine Lubricants
  • Growing Ecological Concerns Propel Cooking Oil Recycling Projects
  • CANADA
  • JAPAN
  • CHINA
  • China: A Lucrative VegeTable Oils Market Worldwide
  • Changing Consumption Patterns for VegeTable Oils in China
  • Growing Middle Class and their Preference to Nutrition and Safety
  • From Unrefined Rapeseed Oil to Several Varieties to Premium Butter, Margarine and Olive Oil
  • Increasing Demand and Focus on Greener Palm Oil Benefit Consumption in China
  • Government Support Instrumental in the Country’s Global Dominance in Soybean Oil
  • Focus on Development of Oil Processing Industry Favors Market Gains
  • Large Population Offers Significant Opportunities for Market Expansion
  • Competitive Landscape
  • Exhibit 25: Leading Cooking Oil Companies in China (2019E): Percentage Market Share Breakdown for China Foods/COFCO, Wilmar International and Others
  • EUROPE
  • Wide Ranging Regional Variations Characterize the European VegeTable Oils Market
  • Growing Oilseed Production on More Acreage to Benefit Market Prospects
  • Impact of REDII Policy
  • Demand for High Quality Niche Oils to Surge in the EU
  • Popularity of Sustainably Produced Oils Rises across the EU
  • GMO Based Oils in Europe at a Distinct Disadvantage
  • Sustainability Concerns Drive Demand for Certified Palm Oil
  • Imported Deforestation Concerns Reduce Use of Palm Oil in Bio-Diesel
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Long Term Demand to Drive Strong Growth in Asia-Pacific
  • Rising Investments in Palm Oil-based Biodiesel Production Further Accelerates Market Expansion
  • Exhibit 26: RSPO Certification Status of Select Leading Palm Oil Producers in Asia
  • AUSTRALIA
  • Australia: Canola Oil Sustains Demand Growth
  • INDIA
  • Growing Indian Appetite for Quality VegeTable Oils to Drive Long Term Growth
  • Indians Transition from Groundnut, Sesame and Mustard Oils to Palm, Sunflower, and Soybean Oil
  • Wellness and Health Factors Propel Consumption of Branded Cooking Oils in India
  • Regional Preferences Influence Consumption of VegeTable Oils
  • Exhibit 27: Regional Edible Oil Consumption Pattern in India by Oil Type: Percentage Share Breakdown of Consumption for North India, South India, West India and East India
  • Efforts to Boost Domestic Production of Palm Oil Augurs Well for the Market
  • India Holds Immense Potential to Augment Sustainability Efforts in Global Palm Oil Sourcing
  • Competitive Landscape
  • Palm Oil: Godrej Agrovet is the Market Leader
  • Exhibit 28: Leading Indian Palm Oil Market: 2020
  • SOUTH KOREA
  • South Korea: Palm Oil Continues to Maintain Lead in Edible Oils Market
  • REST OF ASIA-PACIFIC
  • Indonesia: Palm Oil Production is the Engine of Economic Growth in the Country
  • Palm Oil Production Holds Huge Significance in Indonesia
  • Exhibit 29: Indonesian Palm Oil Production (in Million Metric Tons): 2013-2021E
  • Despite Market Constraints, Promising Outlook for Palm Oil in Indonesia
  • Malaysia: SuiTable Tropical Climate and Evenly Distributed Rainfall Drive Palm Oil Production
  • Exhibit 30: Malaysian Palm Oil Production (in Million Metric Tons): 2013-2021E
  • Despite Indonesia’s Dominance, Malaysia Retains Competitiveness in Palm Oil Production
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
  • Africa: The Next Major Destination for Palm Oil Production and Consumption
IV. COMPETITION
  • Total Companies Profiled: 263
Note: Product cover images may vary from those shown
  • AarhusKarlshamn (AAK AB)
  • Aceites Borges Pont S.A.
  • ACH Food Companies, Inc.
  • Adani Wilmar Limited (AWL)
  • Archer Daniels Midland Company
  • Avena Nordic Grain Oy
  • Avril Group
  • Bunge Limited
  • Bunge Loders Croklaan Group BV
  • Bunge North America, Inc.
  • C. Thywissen GmbH
  • Carapelli Firenze S.p.A.
  • Cargill Incorporated
  • COFCO Corporation
  • Corteva Agriscience
  • Deoleo
  • S.A.
  • Golden Agri-Resources Ltd.
  • IOI Group Berhad
  • J-Oil Mills
  • Inc.
  • Marico Limited
  • Mazola Oils
  • P. T. Musim Mas
  • PT Astra Agro Lestari Tbk
  • PT Smart Tbk
  • Richardson Oilseed Limited
  • Royal Smilde Foods
  • Sime Darby Plantation Sdn Bhd
  • Sovena Group
  • Sundrop Foods India Private Limited
  • The J. M. Smucker Company
  • The Nisshin OilliO Group
  • Ltd.
  • Ventura Foods, LLC
  • Wilmar International Limited
Note: Product cover images may vary from those shown
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