Vegetable Oil Market is projected to reach US$ 420.47 Billion by 2028, according to the report. Vegetable oil play a critical role in global diets, serving as a critical source of fats and contributing approximately 10% of the daily caloric intake in line with character (equivalent to three hundred kcal in line with day). This makes them the second maximum critical meals group, following cereals. Rich in omega-3 and omega-6 fatty acids, in addition to nutrients E and K, vegetable oil offer important nutritional benefits.Vegetable Oil Market was valued at US$ 340.78 Billion in 2022
Beyond their significance in cooking, vegetable oil are in particular treasured for less prosperous customers who cannot afford more costly options like butter or animal fat-based merchandise. The worldwide exchange of vegetable oil is widespread, with imports accounting for round 40% of world consumption, surpassing different commodities like grains, in which imports constitute much less than 20%.
Vegetable Oil Market is exhibiting a growth rate (CAGR) of 3.56% during 2022-2028
Moreover, vegetable oil serve a couple of purposes, finding utility in soap production, biodiesel, cosmetics, pesticides, and numerous other industries. Being a renewable supply of power, vegetable oil production has witnessed great boom because of populace increases and growing in keeping with capita income, especially because of the commercial revolution. The shift towards urbanization has extended global population boom, leading to superior financial prosperity and advanced dwelling requirements globally. These elements have become huge drivers for the vegetable oil market's growth.Countries which include Malaysia, Indonesia, Thailand, and Sri Lanka have emerged as key players in palm oil manufacturing because of its price-effectiveness. Developing country locations across the Asia-Pacific, Middle East, and Africa areas have witnessed increased residing requirements, which, in flip, have influenced human dietary options. As fitness-recognition rises, the demand for processed foods merchandise has increased, and customers are willing to spend more on great products to satisfy their nutritional wishes. Vegetable Oil Market was valued at US$ 340.78 Billion in 2022.
Growing consumer awareness about soybean oil's advantages over other vegetable edible oil has significantly boosted its demand
By Consumption, Vegetable Oil Market is divided into Coconut Oil, Cottonseed oil, Olive oil, Palm Oil, Palm Kernel OIL, Peanut Oil, Rapeseed oil, Soybean Oil and Sunflower seed oil. Soybean oil, rich in omega-3 and vitamin E, supports body health. Its versatile uses include cooking, baking, salad garnishing, and as raw material for various industries. Beneficial properties of soybean oil include treating osteoarthritis, lowering LDL cholesterol, and acting as a mosquito repellent.High market demand stems from being a healthier substitute for palmolein oil, widely used in household cooking, restaurants, and hotels. The edible vegetable oil market's significant growth is attributed to rising consumer awareness of health benefits, such as zero trans-fat and low saturated fats, coupled with increasing population, urbanization, distribution channels, soy crop yield, and awareness of healthy vegetable oil.
Rapeseed finds diverse uses in industries like bio-diesel and cosmetics. The European Union's rising consumption of rapeseed oil for bio-diesel production drives the global market. Growing health-consciousness and awareness of its health benefits are expected to boost market growth.
Growing consumer health awareness and changing cooking preferences fuel substantial residential vegetable oil industry growth
The Vegetable Oil Market is segmented by End User into Food Services, Residential, Food Processing, and Others. The residential vegetable oil industry caters to household consumption for cooking, baking, and salad dressings, meeting global dietary needs. Increasing health awareness drives demand for zero trans-fat, low saturated fat oil, influenced by changing food habits, population growth, urbanization, and economic conditions.Vegetable oil market is experiencing growth due to advancements in the e-commerce industry
The vegetable oil market is categorized based on distribution channels, including Hypermarkets & Supermarkets, Retail Stores, Business-to-Business, and Online sales channels. The surge in online distribution channels for vegetable oil creates revenue opportunities for manufacturers. With e-commerce platforms gaining popularity, manufacturers are establishing a strong online presence to cater to consumers' grocery needs.By leveraging online channels, they can reach a wider audience, expand market reach, and boost sales. Online platforms also provide valuable consumer insights, allowing tailored offerings and marketing strategies. As online shopping gains momentum, manufacturers in the vegetable oil market can benefit from this digital transformation. Moreover, the increasing number of supermarkets, grocery stores, hypermarkets, and online platforms creates lucrative revenue opportunities.
As the trend towards pouch packaging continues to rise, it is expected to further boost the growth of the vegetable oil market
The vegetable oil market is separated by packaging type, including cans, bottles, and pouches. Pouches have gained immense popularity worldwide in household, personal care, and edible oil markets due to their convenience, portability, versatility, and cost-effectiveness. Pouches offer an environmentally friendly and sustainable alternative to rigid bottles, cans, drums, and barrels. Their cost-effectiveness is attributed to high production volumes, automation, low labor costs, and easy transportation. Moreover, pouch packaging is an ideal choice for premium products like gourmet oil, where consumers are willing to pay extra for superior packaging compared to bulk containers.Palm oil production market is experiencing significant growth and is expected to further expand in the coming years
Vegetable oil production includes Coconut, Cottonseed, Olive, Palm, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflower oil. Palm oil stands out for its high productivity and lower production cost compared to other vegetable oil, driving its global demand. The food, beverage, biofuel, energy, personal care, and cosmetics industries contribute to its exponential growth. Major manufacturers are concentrated in the Asia Pacific due to easy access to raw materials. The market is fiercely competitive and diverse, with numerous players striving for an edge through high production, efficient distribution networks, product quality, and competitive strategies.By Import and Export, Vegetable oil volume is breakup into Coconut, Cottonseed, Olive, Palm, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflower oil. Sunflower oil finds diverse applications in curing ailments and chemical compositions, while also experiencing high demand in the food industry for frying purposes. The global sunflower oil market is predicted to steadily rise due to the increasing demand from food producers. Online platforms and franchise shops' expansion will further benefit the worldwide market.
Europe will remain the largest market for processed sunflower oil. In the past decade, sunflower oil imports have surged significantly, with India, China, and the United States leading consumption. This trend reflects growing awareness of sunflower oil's health benefits and its versatility. Sunflower oil exports have seen robust growth, with Ukraine, Russia, and Argentina emerging as major players meeting the escalating international demand for this nutritious and widely used cooking oil.
Key Company
The vegetable oil market is served by companies like Archer-Daniels Midland Company, Wilmar, AAK (Aarhus Karlshamn), Bunge, Sime Darby, Unilever, Associated British Foods, and Cargill.This latest report “Global Vegetable Oil Market & Volume, Consumption Type (Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel OIL, Peanut Oil, Rapeseed oil, Soybean Oil, Sunflower seed Oil), Distribution Channels (Hypermarkets & Supermarkets, Retail Stores, Business-to-Business, and Online Sales Channels), Packaging Type (Cans, Bottles, and Pouches), Country (China, European Union, India, Indonesia, United States, Brazil, Malaysia, Pakistan, Russia, Others), Import (India, China, Bangladesh, Peru, Morocco, Algeria, European Union, South Korea, Colombia, Egypt, and Others), Export (Argentina, Brazil, European Union, Russia, Paraguay, Bolivia, Turkey, and Others), Companies (Archer-Daniels Midland Company, Wilmar, AAK (Aarhus Karlshamn), Bunge, Sime Darby, Unilever, Associated British Foods, and Cargill)” provides a detailed analysis of Global Vegetable Oil Market.
Type - Market & Volume breakup from 9 Viewpoints
1. Coconut Oil2. Cottonseed Oil
3. Olive Oil
4. Palm Oil
5. Palm Kernel Oil
6. Peanut Oil
7. Rapeseed Oil
8. Soybean Oil
9. Sunflower Seed Oil
Country - Market & Volume breakup from 10 Country
1. China2. European Union
3. India
4. Indonesia
5. United States
6. Brazil
7. Malaysia
8. Pakistan
9. Russia
10. Others
Production - Volume breakup 9 Viewpoints
1. Coconut Oil2. Cottonseed Oil
3. Olive Oil
4. Palm Oil
5. Palm Kernel Oil
6. Peanut Oil
7. Rapeseed Oil
8. Soybean Oil
9. Sunflower Seed Oil
Import - Volume breakup 9 Viewpoints
1. Coconut Oil2. Cottonseed Oil
3. Olive Oil
4. Palm Oil
5. Palm Kernel Oil
6. Peanut Oil
7. Rapeseed Oil
8. Soybean Oil
9. Sunflower Seed Oil
Export - Volume breakup 9 Viewpoints
1. Coconut Oil2. Cottonseed Oil
3. Olive Oil
4. Palm Oil
5. Palm Kernel Oil
6. Peanut Oil
7. Rapeseed Oil
8. Soybean Oil
9. Sunflower Seed Oil
Producing Country - Volume breakup from 8 Country
1. Indonesia2. China
3. Malaysia
4. European Union
5. United States
6. Brazil
7. India
8. Others
Importing Country - Volume breakup from 11 Country
1. India2. China
3. European Union
4. United States
5. Pakistan
6. Turkey
7. Bangladesh
8. Malaysia
9. Egypt
10. Iran
11. Others
Exporting Country - Volume breakup from 8 Country
1. Indonesia2. Malaysia
3. Russia
4. Argentina
5. Ukraine
6. European Union
7. Canada
8. Others
End User - Market is breakup into 4 viewpoints
1. Food Services2. Residential
3. Food Processing
4. Others
Distribution Channel - Market is breakup into 4 viewpoints
1. Hypermarket/ Supermarket2. Retail Stores
3. Business To Business
4. Online Sales Channel
By Packaging Type - Market is breakup into 3 viewpoints
1. Cans2. Bottles
3. Pouches
All the company analysis has been covered in the report from 3 viewpoints
- Overview
- Recent Developments
- Revenue
Company Analysis
1. Archer - Daniels Midland Company2. Wilmar
3. AAK (Aarhuskarlshamn)
4. Bunge
5. Sime Darby
6. Unilever
7. Associated British Foods
8. Cargill
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary5. Global Vegetable Oil Market
4. Market Dynamics
6. Global Vegetable Oil Volume
7. Market Share - Global Vegetable Oil Analysis
8. Volume Share - Global Vegetable Oil Analysis
9. Vegetable Oil consumption - Market & Volume Analysis
10. Countries - Market & Volume Analysis
11. Production - Volume Analysis
12. Export - Volume Analysis
13. Import - Volume Analysis
14. Producing Countries - Volume Analysis
15. Exporting Countries - Volume Analysis
16. Importing Countries - Volume Analysis
17. End User - Global Vegetable Oil Market
18. Distribution Channel - Global Vegetable Oil Market
19. Packaging Type - Global Vegetable Oil Market
20. PORTER’s Five Forces - Analysis Global Vegetable Oil Industry Analysis
21. SWOT Analyis - Global Vegetable Oil Market
22. Key Player Analysis
List of Figures
List of Tables
Companies Mentioned
- Archer – Daniels Midland Company
- Wilmar
- AAK (Aarhuskarlshamn)
- Bunge
- Sime Darby
- Unilever
- Associated British Foods
- Cargill
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 500 |
| Published | August 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 340.78 Billion |
| Forecasted Market Value ( USD | $ 420.47 Billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
