The edible oil market offers a wide array of choices, including palm oil, soybean oil, rapeseed oil, sunflower oil, peanut oil, specialty blended oil, olive oil, corn oil, flaxseed oil, avocado oil, walnut oil, pumpkin seed oil, grapeseed oil, and more. Consumers select these oils based on culinary preferences, health considerations, and diverse cooking applications. The market's variety reflects changing dietary trends and growing awareness of the nutritional benefits and taste profiles associated with different edible oils, shaping the culinary landscape worldwide.
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Data Bridge Market Research analyses that the Asia-Pacific Edible Oil Market is expected to grow at a CAGR of 8.20% in the forecast period of 2022 to 2029 and is expected to reach USD 75,690.74 million by 2029 from USD 40,292.54 million in 2021. The edible oil market in Asia-Pacific is experiencing significant growth due to consumers' increasing preference for a healthy lifestyle. People of all ages are embracing healthier dietary choices, driving demand for innovative and nutritious edible oils in the region. This trend positively influences the industry's expansion.
Key Findings of the Study
Export opportunities are expected to drive the market's growth rate
The Asia-Pacific edible oil market benefits significantly from expanding export opportunities and international trade. This growth driver is rooted in the region's capacity to produce various edible oils, making it an attractive supplier to global markets. As international trade barriers diminish and demand for healthier oils rises worldwide, Asia-Pacific producers have an expanding customer base. Additionally, the region's cost-effective production methods and competitive pricing enhance its position in the global market, driving exports. This trend not only boosts the industry's revenues but also strengthens economic ties between countries in the Asia-Pacific region and their international trading partners.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Palm Oil, Soybean Oil, Rapeseed Oil, Sunflower Oil, Peanut Oil, Specialty Blended Oil, Olive Oil, Corn Oil, Flaxseed Oil, Avocado Oil, Walnut Oil, Pumpkin Seed Oil, Grapeseed Oil, Others), Package Type (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), Distribution Channel (Direct, Indirect), End User (Domestics, Industrial, Food Service, Others)
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Countries Covered
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Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC)
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Market Players Covered
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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), and Sunora Foods (Canada), among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The Asia-Pacific edible oil market is segmented on the basis of type, package type, distribution channel, and end user.
- On the basis of type, the Asia-Pacific edible oil market is segmented into palm oil, soybean oil, rapeseed oil, sunflower oil, peanut oil, specialty blended oil, olive oil, corn oil, flaxseed oil, avocado oil, walnut oil, pumpkin seed oil, grapeseed oil, and others.
- On the basis of package type, the Asia-Pacific 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, and others.
- On the basis of distribution channel, the Asia-Pacific edible oil market is segmented into direct, and indirect.
- On the basis of end user, the Asia-Pacific edible oil market is segmented into domestics, industrial, food service, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the major Asia-Pacific edible oil market players in Asia-Pacific edible oil market are 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.).
Market Developments
- In May 2021, Singapore-based agribusiness company Wilmar International acquired a 50% stake in Yihai Kerry Arawana Holdings Co., Ltd., a leading agribusiness group in China. This strategic collaboration enhances Wilmar's presence in the Asia-Pacific Edible Oil Market. It combines its resources and expertise to expand its reach in the rapidly growing Chinese market, further solidifying its position in the region's edible oil industry.
- In July 2021, Cargill, a leading global food corporation, announced its strategic collaboration with a prominent Malaysian palm oil producer, Sime Darby Plantation. This partnership aimed to enhance sustainable palm oil production practices in Malaysia. By combining expertise, the companies aimed to strengthen environmental initiatives, ensuring responsible sourcing and production. This collaboration signifies a significant step towards fostering sustainable practices in the Asia-Pacific Edible Oil Market.
- In April 2020, Adani Wilmar, a subsidiary of the Adani Group, joined forces with India-based Swiggy to facilitate the delivery of food products, including edible oils, during the COVID-19 lockdown. This strategic collaboration expanded Adani Wilmar's customer reach, enabling them to provide their products to a broader audience through Swiggy's platform, generating additional revenue during a challenging time.
Regional Analysis
Geographically, the countries covered in the Asia-Pacific edible oil market report are Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC).
As per Data Bridge Market Research analysis:
China is the dominant region in Asia-Pacific edible oil market during the forecast period 2022-2029
China's dominance in the Asia-Pacific edible oil market is attributed to its thriving agriculture industry, specifically the exponential growth in oilseed production. This abundant supply of oilseeds, such as soybeans and rapeseeds, has positioned China as a key player in edible oil production. With an ever-expanding agricultural sector, the country caters to domestic consumption and exports its surplus, cementing its status as a leading market force in the region.
India is estimated to be the fastest-growing region in Asia-Pacific edible oil market for the forecast period 2022-2029
India is poised to be a dominant force in the Asia-Pacific edible oil market due to its substantial growth potential. The country benefits from a favorable environment for oilseed production, making it a popular hub in the region. Government support, abundant arable land, and a conducive climate contribute to increased oilseed production, positioning India for significant market growth and a central role in the industry's expansion in the Asia-Pacific region.
For more detailed information about the Asia-Pacific edible oil market report, click here – https://www.databridgemarketresearch.com/reports/asia-pacific-edible-oils-market
