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Vegetable Oils - Global Market Trajectory & Analytics

  • ID: 338679
  • Report
  • February 2022
  • Region: Global
  • 397 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • AarhusKarlshamn (AAK AB)
  • Avril Group
  • Carapelli Firenze S.p.A.
  • Deoleo, S.A.
  • Mazola Oils
  • Royal Smilde Foods

Global Vegetable Oils Market to Reach 258.4 Million Metric Tons by the Year 2026


Vegetable oils are derived from fruits, nuts and seeds of different trees and plants and are used in a variety of applications ranging from food, personal care and household to industrial. Applications of vegetable oils expand continuously, providing a major boost for the market. Several vegetable oils are currently in high demand in developing country markets, for both food and non-food applications. In these markets, an increasing population base and growing living standards constitute the chief reasons behind growth. Another major market growth promoting factor is the increasing demand for certain types of vegetable oils from the rapidly growing biofuel industry. Vegetable oils find use in the production of bioethanol, used further in the production of biofuels. Vegetable oils also constitute a major feedstock for the production of bio-lubricants. Increasing regulatory scrutiny on recyclability and disposal of lubricants derived from petrochemicals has been one of the important factors driving demand for bio-lubricants and thereby for vegetable oils. Supportive policies of governments for instance, the RED (Renewable Energy Directive) and CAP (European Union Common Agricultural Policy) among others have also been offering immense support to market growth. The policies have been leading to increased application of the oils in different industries including animal feed, biofuel, food and cosmetics.

Amid the COVID-19 crisis, the global market for Vegetable Oils estimated at 199.1 Million Metric Tons in the year 2020, is projected to reach a revised size of 258.4 Million Metric Tons by 2026, growing at a CAGR of 4.4% over the analysis period. Palm, one of the segments analyzed in the report, is projected to grow at a 5.2% CAGR to reach 101.8 Million Metric Tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Soybean segment is readjusted to a revised 4.5% CAGR for the next 7-year period. This segment currently accounts for a 29.6% share of the global Vegetable Oils market. In the developing countries since price remains the key factor influencing purchasing decisions, palm oil is witnessing a significant spurt in demand both because of its cost effectiveness and widespread availability. Rising applications in the processed foods industry due to its good emulsifying ability and neutral flavor are benefitting the market for soybean oil.

The U.S. Market is Estimated at 17.5 Million Metric Tons in 2021, While China is Forecast to Reach 55.1 Million Metric Tons by 2026


The Vegetable Oils market in the U.S. is estimated at 17.5 Million Metric Tons in the year 2021. The country currently accounts for a 8.28% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of 55.1 Million Metric Tons in the year 2026 trailing a CAGR of 5.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR while Rest of European market (as defined in the study) will reach 57.9 Million Metric Tons by the end of the analysis period. In North America, vegetable oils consumption is high in production of biofuels and also in the manufacture of bio-based products. Consumer awareness about environmental impact of products that are petrochemicals-derived is high in the market. This strengthens demand for vegetable oils. In Europe, rapeseed oil is the most consumed vegetable oil primarily because it is abundantly produced in the region. Rapeseed oil is widely used in food, animal feed and biodiesel industries. 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.

Canola Segment to Reach 38.8 Million Metric Tons by 2026


Oilseed rape (canola) produce high value vegetable oil, have a healthier composition of unsaturated fats, can be grown in crop rotation with corn or wheat and supports environmentally sustainable farming. Although production of Canola seeds is less in the US, consumption is strong. In the global Canola segment, USA, Canada, Japan, China and Europe will drive the 3.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of 22.4 Million Metric Tons in the year 2020 will reach a projected size of 28.2 Million Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 8.1 Million Metric Tons by the year 2026, while Latin America will expand at a 6% CAGR through the analysis period.

Select Competitors (Total 309 Featured) -

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

FEATURED COMPANIES

  • AarhusKarlshamn (AAK AB)
  • Avril Group
  • Carapelli Firenze S.p.A.
  • Deoleo, S.A.
  • Mazola Oils
  • Royal Smilde Foods

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Enduring the Harsh Impact of COVID-19, Vegetable Oil Industry Maintains Positive Trajectory in 2020
  • An Overview of the Global Market for Vegetable Oils
  • Market Highlights
  • Key Challenges & Constraints
  • Consumption in Asia-Pacific (including China) Augurs Well for Future Growth
  • Per Capita Consumption (Kilograms) of Vegetable Oils by Region/Country: 2021E
  • Production Landscape
  • Oilseeds Production
  • World Oilseeds Production by Country (2017 to 2022E): Breakdown of Volume Production (in Million Metric Tons) for Brazil, United States, China, Argentina, India, and Others
  • World Vegetable Oilseeds Production by Type (2017 to 2022E): Breakdown of Volume Production (in Million Metric Tons) for Copra, Cottonseed, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflowerseed
  • Global Oil Yield (Tons per Hectare) for Major Oilseed Crops
  • Vegetable Oils Production
  • World Vegetable Oils Production by Country/Region (2017 to 2022E): Breakdown of Volume Production (Million Metric Tons) for Indonesia, China, Malaysia, EU, United States, Argentina, Brazil, and Others
  • Global Production of Major Vegetable Oils by Type (2017 to 2022E): 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
  • Global Palm Oil Production by Country (2017 to 2022E): Breakdown of Production Volume (Thousand Metric Tons) for Indonesia, Malaysia, Thailand, Colombia, Nigeria, and Others
  • Annual Production Capacity for Certified Sustainable Palm Oil and Palm Kernel for 2010-2017 in MMT
  • Total Certified Palm Oil (CSPO) Production Area (in Million Hectares): 2015-2020
  • Soybean Oil
  • Global Soybean Oil Production by Region/Country (2017 to 2022E): Breakdown of Production Volume (Thousand Metric Tons) for China, United States, Brazil, Argentina, European Union, India, Mexico, and Others
  • Sunflowerseed Oil
  • Global Sunflowerseed Oil Production by Region/Country (2020, 2021 & 2022E): 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
  • 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
  • Vegetable Oils - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

  • WORLD BRANDS

3. MARKET TRENDS & DRIVERS

  • Food Industry: Most Important Application Market for Vegetable Oils
  • Growing Preference for Healthy, Organic & Unprocessed Cooking Oils
  • Growing Awareness about Saturated Fatty Acids & Omega-6 in Vegetable Oils
  • 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
  • Vegetable Oil Companies Offering more Healthful Options amid the Pandemic
  • Biofuels: The New Growth Avenue for Vegetable Oils
  • Global Biodiesel Production (Million Tons): 2013, 2015, 2017, 2019 & 2021
  • Global Biofuels (Fuel Ethanol and Biodiesel) Market by Product Type (2021): Percentage Breakdown of Volume Consumption for Biodiesel and Fuel Ethanol
  • 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
  • Average Biofuel Yields of First Generation Feedstock
  • Favorable Blend Mandates Set to Enhance Vegetable Oil Demand in Biofuel Sector
  • Vegetable Oils Aim to Widen Role in Industrial Applications
  • Established Role of Vegetable Oils in Personal Care Applications
  • Palm Oil: Largest & Fastest Growing Product Segment
  • Global Per Capita Palm Oil Consumption (Kilograms) for Major Countries: 2016 & 2020
  • Diverse Food and Non-Food Applications Lend Traction to Market Demand
  • Breakdown of Palm Oil Volume Consumption (in %) in Food and Non-Food Sectors (2010 & 2020)
  • RSPO’s Novel Initiatives Aim to Resolve Biodiversity & Sustainability Issues Prevalent in Palm Oil Industry
  • Leading Producers of Palm Oil Worldwide: Approximate Percentage Share of Production of RSPO
  • Increasing R&D Emphasis Elevates Prospects of Soybean Oil against Competing Oils
  • New Generation Soya Bean Oil Formulations Come to the Fore
  • Rising Adoption in Food Service Sector Boosts Uptake of Canola Oil
  • Robust Image of Sunflower Oil as a Healthy Alternative to TFAs Spurs Demand
  • Backed by Incredible Nutritional Benefits, Coconut Oil to Sustain Momentum
  • Despite Being the Most Expensive of All Vegetable Oils, Olive Oil Continues to Experience High Demand
  • Health and Environmental Benefits Promote Demand for Maize Oil
  • Demographic Trends Strongly Favor Future Growth in World Vegetable Oil Market
  • Growing Population
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Urban Sprawl
  • World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050P
  • Large Middle Class Segment
  • 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
  • Steep Rise in Prices Emerges as a Major Challenge
  • Rising Concerns Over GMO Contamination: A Major Issue
  • Oils Derived from Non-Traditional Sources: An Emerging Threat
  • Vegetable Oils: An Evolutionary Scan
  • Chemical & Physical Properties of Vegetable Oils
  • Vegetable Oils: Product Classification
  • Edible Vegetable Oils: Production Process
  • Processing Methods

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Vegetable Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • Despite Popularity of Alternative Vegetable Oils, Soybean Oil Continue to Dominate Consumption
  • Focus on Sustainable Production to Drive Demand for Palm Oil
  • Health Benefits Spurs Olive Oil Sales
  • US Olive Oils Market by Type (2021E): 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

  • Vegetable Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Vegetable Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • 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
  • Leading Cooking Oil Companies in China (2020E): Percentage Market Share Breakdown for China Foods/COFCO, Wilmar International and Others

EUROPE

  • Vegetable Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • 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

  • Vegetable Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Vegetable Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Vegetable Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Vegetable Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Long Term Demand to Drive Strong Growth in Asia-Pacific
  • Rising Investments in Palm Oil-based Biodiesel Production Further Accelerates Market Expansion
  • RSPO Certification Status of Select Leading Palm Oil Producers in Asia

AUSTRALIA

  • Vegetable Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
  • Australia: Canola Oil Sustains Demand Growth

INDIA

  • Vegetable Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Pandemic Upsets Demand for Cooking Oils in 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
  • 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
  • Leading Indian Palm Oil Market: 2021E

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
  • Indonesian Palm Oil Production (in Million Metric Tons): 2013-2022E
  • Despite Market Constraints, Promising Outlook for Palm Oil in Indonesia
  • Malaysia: Suitable Tropical Climate and Evenly Distributed Rainfall Drive Palm Oil Production
  • Malaysian Palm Oil Production (in Million Metric Tons): 2013-2022E
  • Despite Indonesia’s Dominance, Malaysia Retains Competitiveness in Palm Oil Production

LATIN AMERICA

  • Vegetable Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Vegetable Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Vegetable Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
  • Africa: The Next Major Destination for Palm Oil Production and Consumption

IV. COMPETITION

  • Total Companies Profiled: 309
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

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