Global Edible Oils Market – Industry Trends and Forecast to 2030

Edible Oils Market Analysis and Size

Growing demand for organic edible oil and rapid growth and expansion in the food sector is expected to enhance the growth of the edible oil market. Also, the emerging application of corn oil in industries is projected to provide immense market opportunities in the upcoming period. Canola oil is a healthier and cheaper alternative to olive oil because of its lowest fat content, around 6 percent among all other type of edible oils. As a result of various benefits of edible oil, an increase in the demand for this oil ultimately drives the market growth.

Data Bridge Market Research analyses that the edible oils market is expected to reach USD 190.88 billion by 2030, which is USD 102.37 billion in 2022, registering a CAGR of 8.10% during the forecast period of 2023 to 2030. 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.

Edible Oils Market Scope and Segmentation

Market Definition

Edible oil is also a cooking oil that is obtained from the fat of animals, plants or microorganisms. Edible oils are liquid and safe to consume at room temperature. Among the many edible oils are sunflower, rice brown, ghee, olive, mustard, and groundnut. Edible oils comprise trace amounts of antioxidants, which helps prevent autoxidation. Antioxidants are also used to increase the shelf life of edible oils.

Global Edible Oils Market Dynamics

Drivers

Increasing demand for edible oil due to its unique applications

The demand for palm oil is increasing nowadays due to its unique applications, such as smooth and creamy texture, great cooking properties, and absence of smell which is expected to drive the growth rate of the market. As per the report by ‘The Conversation’, which has Published in 2021, The world uses palm oil more than any other vegetable oil that’s because it is cheap than other oil. The African oil palm can form ten times more palm oil per hectare than soybean oil.

Growth and expansion of fast food, increasing the demand for edible oils

The changing lifestyle, increasing numbers of working women and food taste are some of the major factors increasing the demand for fast food all around the globe. The main aim of fast food is to satisfy customers by giving fast service. They are prepared and served using energy-saving cooking methods, increasing palatability owing to crust creation, fat absorption, and pleasant flavors and smells. Frying is one of the common methods for preparing fast foods all around the world. Oil such as edible oil is used for frying food because it has a proper chemical composition, resulting in delicious food. And hence, it increases the demand for edible oil and is expected to drive market growth.

Opportunities

Growing health concerns among consumers

Nowadays, consumers are highly conscious of their health. As a result, they are using organic products such as edible oil concerns which is expected to create numerous opportunities for market growth. Growing demand for edible oils with low cholesterol, calories and fat content is propelling the market growth. This is attributed to the increasing prevalence of several lifestyle disorders, such as cardiovascular disease, diabetes and obesity. Thus, the increasing demand for products such as edible oil due to health concerns is projected to foster market growth in the upcoming period.

Increasing capacity expansion of edible oil by key manufacturers

Capacity expansion by major manufacturers to deal with the increasing demand for edible oil all around the globe is one of the major emerging trends in the global market. For instance, Emami Agrotech plans to invest around Rs 700 cr capex to develop edible oil capacity in August 2019. The company's edible oil capacity would be 10,000 from 6000 tons per day after the capacity expansion. Thus, the growing capacity expansion of edible oil by the manufacturer will create lucrative opportunities for market growth over the forecast period.

Restraints/ Challenges

Increasing adoption of new guidelines and high costs associated with market

Developing consumer preference in choosing edible oils has forced the major companies to opt for competitive positioning to sustain themselves in the edible oils market. Furthermore, this also leads to severe price impacts. This factor is anticipated to hamper the growth of the market. Also, increasing additions and changes to food safety policies across several countries compel producers to adopt these changes in manufacturing processes to remain compliant with new food safety guidelines. This may lead to several complications in the manufacturing process and can surge the overall cost, thus hampering the market growth.

This edible oils market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the edible oils market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

 Recent Developments

• In 2021, the Department of Agriculture in India organized a campaign to introduce oil seeds in almost all districts of the Kashmir division due to the heavy dependence on imports for edible oils.
• In 2021, India Plans to significantly increase its palm oil production in the northeast of the country to reduce its dependency of India on other countries for palm oil. The government is investing around US$ 1.5 Billion over the next few years to develop palm oil plantations by 6500 square kilometers across the nation.
• In 2020, Amul forayed into the edible oils category in Rajasthan and Gujarat after the Indian Prime Minister’s call for self-reliant India or Atma Nirbhar Bharat. With the introduction of Janmay range of edible oils, the companies try to reduce India’s edible oil dependency on other countries while also helping local farmers.

Global Edible Oils Market Scope

The edible oils market is segmented on the basis of type, nature, package type, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Palm Oil
• Soybean Oil
• Rapeseed Oil
• Sunflower Oil
• Peanut Oil
• Specialty Blended Oil
• Olive Oil
• Corn Oil
• Flaxseed Oil
• Avocado Oil
• Edible Oil
• Pumpkin Seed Oil
• Grape seed Oil
• Others

Nature

• Organic
• Conventional

 Package Type

• Tinplate Containers
• High-Density Polyethylene (HDPE) Containers
• Poly Vinyl Chloride (PVC) Bottles
• Polyethylene Terephthalate (PET) Bottles
• Glass Bottles
• Semi–Rigid Containers
• Flexible Plastic Pouches
• Others

 Distribution Channel

• Direct
• Indirect

 End-User

• Domestics
• Industrial
• Food Service
• Others

Edible Oils Market Regional Analysis/Insights

The edible oils market is analyzed, and market size insights and trends are provided by country, type, nature, package type, distribution channel and end-user, as referenced above.

The countries covered in the edible oils market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America is expected to dominate the edible oils market in terms of revenue and market share due to the growing adoption of edible oil in the beauty and cosmetic product industry in this region. Furthermore, the presence of major market players in edible oils in the U.S. and Canada will further boost the market growth in this region.

Asia-Pacific is expected to be the fastest developing region during the forecast period of 2023-2030 due to growing health concerns among consumers as a nutritional supplement in developed countries of this region. Moreover, China is one of the leading consumers of edible oil worldwide.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Edible Oils Market Share Analysis

The edible oils market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to edible oils market.

Some of the major players operating in the edible oils 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.)
• BORGES INTERNATIONAL GROUP, S.L. (Spain)
• Hebany Group (U.A.E.)
• NGO CHEW HONG EDIBLE OIL PTE LTD (Singapore)
• TITAN OILS Inc. (Canada)
• Ragasa - Derechos Reservados (Mexico)
• SOVENA (Thailand)
• Sunora Foods (Canada)

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