Edible oils extracted from plants, vegetables, and seeds in the region which are rich in fatty acids, antioxidants, and phospholipids, among other beneficial components. These oils are highly sought after by both consumers and the food processing industry due to their low fat, low calorie, and low cholesterol content. The properties of these oils make them a healthy choice for cooking, baking, and various food applications. As a result, the Asia-Pacific region experiences a growing demand for edible oils that align with the preferences of health-conscious individuals and the food industry's focus on nutritious ingredients.
According to Data Bridge Market Research, the Asia-Pacific Edible Oil Market was valued at USD 40,292.54 million in 2021 and is expected to reach USD 75,690.74 million by 2029, registering a CAGR of 8.20% during the forecast period of 2022-2029.
“Preference to healthy lifestyle facilitate market growth”
The increasing consumer preference for dietary improvements fuels the growth of the edible oil market. With a rising emphasis on leading a healthy lifestyle, consumers of all age groups are shifting towards healthier and innovative approaches, including consuming nutritious edible oils. The demand for edible oils with beneficial properties, such as low cholesterol, high omega-3 fatty acids, and natural antioxidants, is rising. This trend is driven by the growing awareness of the importance of a balanced diet and the role of healthy fats in promoting overall well-being. As a result, the edible oil market is experiencing positive growth due to the increasing consumer inclination towards healthier dietary choices.
What restraints the growth of Asia-Pacific edible oil market?
“High costs associated with the products”
The Asia-Pacific edible oil market faces the restraint of high costs associated with the products. Factors such as production costs, transportation expenses, and import duties contribute to the region's overall high cost of edible oils. This can limit the affordability and accessibility of edible oils, especially for low-income consumers. Additionally, counterfeit or adulterated edible oil products in the market can further erode consumer trust and impact sales. Addressing these cost-related challenges and ensuring the availability of affordable and authentic edible oil products are crucial for the sustained growth of the Asia-Pacific Edible Oil Market.
Segmentation: Asia-Pacific Edible Oil Market
The edible oil market is segmented on the basis of type, package type, distribution channel, and end user.
- On the basis of type, the edible oil market is segmented into palm oil, soybean oil, grapeseed oil, sunflower oil, peanut oil, specialty blended oil, olive oil, corn oil, flaxseed oil, avocado oil, walnut oil, pumpkin seed oil, others.
- On the basis of package type, the edible oil market is segmented into tinplate containers HDPE (high density polyethylene) containers, PVC (poly vinyl chloride) bottles, pet (polyethylene terephthalate) bottles, glass bottles, semi – rigid containers, flexible plastic pouches, others.
- On the basis of distribution channel, the edible oil market is segmented into direct, indirect.
- On the basis of end user, the edible oil market is segmented into domestics, industrial, food service, others.
Regional Insights: China dominates the Asia-Pacific edible oil market
China has emerged as the dominant player in the market, primarily driven by its thriving agriculture industry, especially in the production of oilseeds. Similarly, India and Indonesia are anticipated to experience significant growth, given their reputation as key hubs for oilseed production, supported by favorable environmental conditions.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/asia-pacific-edible-oils-market
Recent Developments in Asia-Pacific Edible Oil Market
- In April 2020, Adani Group's subsidiary, Adani Wilmar, joined forces with Swiggy, an Indian food delivery platform, to ensure the delivery of food products, including oil products, to customers during the nationwide lockdown imposed in response to the COVID-19 pandemic. This strategic partnership enabled Adani Wilmar to effectively reach its customer base, offer its products, and generate revenue despite the challenging circumstances caused by the pandemic.
The Prominent Key Players Operating in the Asia-Pacific Edible Oil Market Include:
- Bunge Limited (U.S.)
- ADM (U.S.)
- Cargill, Incorporated (U.S.)
- ACH Food Companies, Inc. (U.S)
- Adani Group (India)
- SALAD OILS INTERNATIONAL CORPORATION (U.S.)
- American Vegetable Oils, Inc. (U.S.)
- BORGES INTERNATIONAL GROUP, S.L. (Spain)
- Hebany Group (UAE)
- NGO CHEW HONG EDIBLE OIL PTE LTD (Singapore)
- TITAN OILS Inc., (Canada
- Ragasa - Derechos Reservados (Mexico)
- SOVENA (Thailand)
- Sunora Foods (Canada)
Above are the key players covered in the report, to know about more and exhaustive list of asia-pacific edible oil market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Asia-Pacific Edible Oil Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
