In a report named "Global Vegetable Oil Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2028," issued recently by Renub Research, market share insights are incorporated along with a detailed industry analysis. The analysis of competitors, topographical regions, and growth for global vegetable oil market is also enclosed in the report.
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Global vegetable oil market will experience a CAGR of 3.56%, during 2022 to 2028
Nowadays, consumers are very concerned about their health. As a result, they are utilizing organic products such as edible oils, which is expected to create numerous market growth opportunities. Growing demand for low-cholesterol, low-calorie, and low-fat edible oils is driving market growth. This is due to the rising prevalence of a variety of lifestyle disorders, including cardiovascular disease, diabetes, and obesity. Thus, rising demand for products such as edible oil due to health concerns is expected to drive market growth in the coming years.
Vegetable oils are derived from natural sources such as seeds, nuts, and fruits. They are widely used in industries ranging from food to household and personal care. They are a good source of nutrients and are used in cooking as well as in margarine, non-dairy creamers, and ice cream. They are also used as a substitute for animal fats. Non-food applications include the manufacture of soaps, detergents, lubricants, greases, and candles. Biofuel is also becoming a significant application sector. Hence, Global Vegetable oil Market will value about US$420.47 billion by 2028.
Furthermore, there is a significant increase in the demand for vegetable oils as an alternative to mineral oil across a variety of end-use industries. Vegetable isolating oils are now commercially available to replace mineral-based oils in transformer applications. Vegetable oil may be an ideal replacement for mineral oil due to its low cost, low volatility, improved performance under pressure, high viscosity, and widespread availability. Leading industry competitors are now offering vegetable oil varieties that have undergone minimal processing and are organic. This, along with numerous programs launched by various nations' governing bodies to promote bio-based goods such as vegetable oils, is encouraging market expansion.
The growth of residential vegetable oil consumption in the global market can be attributed to increased awareness of health benefits, and culinary versatility
Vegetable oils are becoming more popular as consumers seek healthier alternatives to traditional oils. The rising popularity of home cooking and ethnic cuisines further fuels demand. Moreover, concerns about sustainability drive interest in plant-based oils. The convenience of preparing meals at home also contributes to higher residential consumption. With an expanding population, growing urbanization, and increasing health-consciousness, the demand for residential vegetable oil is set to continue its upward trajectory in the global vegetable oil market.
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End User – Global Vegetable Oil Market breakup into 4 viewpoints
- Food Services
- Residential
- Food Processing
- Others
The surge in online distribution channels for vegetable oil is driven by evolving consumer shopping habits and convenience
With the digital age reshaping retail, online platforms offer a convenient way to purchase and compare various vegetable oil brands. The COVID-19 pandemic has accelerated the shift to e-commerce, as consumers prioritize contactless shopping. Online channels provide a diverse range of options, detailed product information, and doorstep delivery, saving time and effort. Further, the expansion of e-grocery and direct-to-consumer models has further propelled the growth of online distribution channels for vegetable oil, providing consumers with flexibility and accessibility in procuring this essential kitchen staple.
Distribution Channel – Vegetable Oil Market breakup into 4 viewpoints
- Hypermarket/ Supermarket
- Retail Stores
- Business to Business
- Online Sales Channel
The combination of functionality, eco-friendliness, and enhanced consumer experience, positions pouches as a preferred packaging choice in the global vegetable oil market
Pouches offer efficient storage, ease of use, and reduced risk of leakage compared to traditional packaging. They are lightweight, minimizing transportation costs and environmental impact. Pouches also provide better product preservation, protecting vegetable oil from light and air exposure, thus maintaining its quality. With growing consumer preference for eco-friendly options, brands are increasingly adopting recyclable and eco-conscious pouch materials.
Packaging Type – Vegetable Oil Market breakup into 3 viewpoints.
- Cans
- Bottles
- Pouches
Soybean oil holds the highest consumption in the global vegetable oil market as a result of its versatility, widespread availability, and nutritional profile
Used in various culinary applications, from frying to salad dressings, soybean oil's neutral flavor suits diverse cuisines. Its relatively lower cost and abundant production contribute to its popularity. Furthermore, soybean oil contains essential fatty acids and vitamin E, appealing to health-conscious consumers. Its use in food processing and foodservice industries further drives demand. With an expanding global population and changing dietary habits, soybean oil's affordability, nutritional attributes, and adaptability continue to position it as the leading choice in the global vegetable oil market.
Consumption – Vegetable Oil Market Volume breakup from 9 Viewpoints
- Coconut Oil
- Cottonseed Oil
- Olive Oil
- Palm Oil
- Palm Kernel Oil
- Peanut Oil
- Rapeseed Oil
- Soybean Oil
- Sunflower Seed Oil
Palm oil production is witnessing substantial growth in the global vegetable oil market because of its high oil yield, versatility, and cost-effectiveness
The widespread use in food, cosmetics, and biofuels industries drives the demand for palm oil. Moreover, palm oil's unique chemical composition and stability at high temperatures make it suitable for various applications, including frying and food processing. While efficient land use and high yields contribute to lower production costs, these factors also raise environmental concerns related to deforestation and habitat loss. As sustainability efforts intensify, the industry is focusing on responsible sourcing and more eco-friendly practices, aiming to balance growth with environmental considerations in the palm oil market.
Production – Vegetable Oil Market Volume breakup from 9 Viewpoints
- Coconut Oil
- Cottonseed Oil
- Olive Oil
- Palm Oil
- Palm Kernel Oil
- Peanut Oil
- Rapeseed Oil
- Soybean Oil
- Sunflower Seed Oil
Sunflower oil import and export are experiencing significant growth in the global vegetable oil market due to its nutritional benefits, and rising consumer demand
Rich in vitamin E and low in saturated fats, sunflower oil aligns with health-conscious choices. Its mild flavor makes it suitable for cooking, baking, and salad dressings across various cuisines. As global awareness of healthier dietary options increases, sunflower oil's popularity surges. Its competitive price and widespread cultivation also contribute to higher trade volumes. Since, consumers seek quality cooking oils, sunflower oil's nutritional profile and culinary adaptability continue to drive its expansion in both domestic and international markets.
Export and Import – Vegetable Oil Market Volume breakup from 9 Viewpoints
- Coconut Oil
- Cottonseed Oil
- Olive Oil
- Palm Oil
- Palm Kernel Oil
- Peanut Oil
- Rapeseed Oil
- Soybean Oil
- Sunflower Seed Oil
Competitive Landscape
Companies such as Archer-Daniels Midland Company, Wilmar, AAK (Aarhus Karlshamn), Bunge, Sime Darby, Unilever, Associated British Foods, and Cargill serve the global vegetable oil market.
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All the company analysis has been covered in the report from 3 viewpoints
- Overview
- Recent Developments
- Revenue
Top Vegetable Oil Companies Analysis
- Archer – Daniels Midland Company
- Wilmar
- AAK (Aarhuskarlshamn)
- Bunge
- Sime Darby
- Unilever
- Associated British Foods
- Cargill
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