Vegetable Oils Market

Vegetable oil Market size is estimated to touch USD 315 billion by 2028, exhibiting 7.0% CAGR during 2021-2028, owing to the growing use of vegetable oils in industrial and transportation sectors.

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Key Drivers and Emerging Trends

The growing use of vegetable oil as an alternative to animal-based fats and petrochemicals in food and non-food applications is the major factor propelling the vegetable oil market growth. With the rising incidences of lifestyle diseases, the demand for vegetable oils has increased, owing to the growing awareness about their health advantages which include helps to prevent cardiovascular diseases, boosts metabolism, lowers cholesterol, and manage heart health, driving the market size. Besides, the growing adoption of biodiesel in the aerospace, automotive, and aviation industries and as an alternative energy source will offer enormous opportunities to the market.

Moreover, the expansion of processed food industry, rising per capita income, growing demand for natural health-based products, and rising awareness are projected to expand the market growth. Increasing emphasis of leading producers to introduce organic and minimally processed vegetable oil will expand the market growth. The recyclable property of vegetable oils has augmented their application in demolding, automotive, and industrial oil, which is likely to pave the way for market. However, the high price of vegetable oil and huge investment required for the production process are projected to impede the Vegetable oil market growth.

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Product Type – Segment Analysis

Palm oil is estimated to expand at a notable CAGR over the forecast period owing to its low cost and growing use by snack manufacturers. In addition, the increasing awareness about the health benefits of palm oil which include helps to prevent cardiovascular diseases, brain diseases, vitamin A deficiency, cancer, boosts metabolism and treats malaria, high blood pressure etc. will strengthen the segment growth.

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Regional – Segment Analysis:

Asia Pacific is expected to witness a faster CAGR over the forecast period, owing to the easy availability of raw materials. In addition, the growing demand for alternatives of fast depleting fossil fuel and the need for biofuel to reduce carbon discharge is projected to expand the regional growth. Moreover, the strong presence of leading players such as Cofco Corporation, Xiwang Food etc. and the expansion of food processing and bio-plastic industries will further boost the growth of this market.

Besides, North America is predicted to hold a larger share over the upcoming years, owing to the growing awareness about the hazardous effects of consuming unrefined fat obtained from animal sources. In addition, the growing application of vegetable oils in food applications, biofuels, and other bio-based products will further expand the market growth.

Top Market Players 

Various notable players operating in the market, include, ACH Food Companies, Inc., ADM, Bunge Limited, Carapelli Firenze SpA, Cargill, Incorporated., Conagra Brands, Inc., Fuji Oil Co. Ltd, Cofco, Xiwang Group, Wilmar International Ltd, among others.

Key Developments:

• • In 2021, Bunge Loders Croklaan extended its oils and fats portfolio to cater the growing demand in Europe, offering a consistent supply of organic oils and fats, including sunflower, rapeseed, soy, palm, shea, and coconut.\
  • In 2021, an edible oil refinery situated in Nellore, India was collaborated by Cargill Incorporated and invested USD 35 million to improvise the facility, which will expand the production volume of edible oil and help company extend its existing supply chain to meet consumer requirements.
  • In Nov 2021, Cargill Inc acquired an edible oil refinery at Krishnapatnam Port in Nellore, Andhra Pradesh and has invested UDS 35 million for acquisition and upgradation of the refinery.
  • In Feb 2021, Bunge Loders Croklaan expanded its oils and fats portfolio to meet the organic demand in the Europe.  It is offering a steady and scalable supply of the organic oils and fats which include shea, soy, sunflower, rapeseed, palm, and coconut.
  • In 2019, Sime Darby Plantation Berhad introduced the ‘Palm Oil Experience Centre’ in Carey Island, Selangor, which is projected to serve the purpose of being an educational hub where visitors can learn more about palm oil.

Segments covered in the Report:

The global Vegetable Oils Market has been segmented on the basis of Product Type, End Use and regions. Based on Product Type, the market is segmented into Sunflower oil, Soybean oil, Coconut oil, Peanut oil, Olive oil, Canola oil, Palm oil and Others. Based on End Use, the market is segmented into Industrial, Feed, Biodiesel, Food and Others.

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Key questions answered in this research report:

• • At what pace is global Vegetable Oils Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Vegetable Oils Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Vegetable Oils Market?
  • Which Product Type generated maximum revenues in 2020 and identify the most promising Product Type during the forecast period?
  • What is the various End Use of global Vegetable Oils Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Vegetable Oils Market by Product Type

• • Sunflower oil
  • Soybean oil
  • Coconut oil
  • Peanut oil
  • Olive oil
  • Canola oil
  • Palm oil
  • Others

Global Vegetable Oils Market by End Use

• • Industrial
  • Feed
  • Biodiesel
  • Food
  • Others

Global Vegetable Oils Market by Region

• • North America Vegetable Oils Market (Option 1: As a part of the free 25% customization)
    • By Product Type
    • By End Use
    • US Market All-Up
    • Canada Market All-Up
  • Europe Vegetable Oils Market (Option 2: As a part of the free 25% customization)
    • By Product Type
    • By End Use
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Vegetable Oils Market (Option 3: As a part of the free 25% customization)
    • By Product Type
    • By End Use
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Vegetable Oils Market (Option 4: As a part of the free 25% customization)
    • By Product Type
    • By End Use
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Market Name (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ACH Food Companies, Inc.
  • ADM
  • Bunge Limited
  • Carapelli Firenze SpA
  • Cargill, Incorporated.
  • Conagra Brands, Inc.
  • Fuji Oil Co. Ltd
  • Cofco
  • Xiwang Group
  • Wilmar International Ltd