The Vegetable oil Market is predicted to rise to USD 315 billion by 2028, witnessing 7.0% CAGR during 2021-2028

Introduction of the Vegetable Oils Market Report

Vegetable oil is a process of extracting oil from the specific part of the plants which are being placed under pressure to get the oil extracted. It is widely used in various application such as food processing, household cooking, cosmetics products among other

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Market Dynamic 

Key Drivers and Emerging Trends

Rising in the world population is one of the major factor driving the growth of this market. For instance, according to world bank the total population was accounted for 7.76 billion in 2020. Thus, increasing population is creating demand for food among consumers and thus the need for vegetable oils. Moreover, rising demand for vegetable oil in various end use industries such as animal feed, food, medicines, personal care & cosmetics further boost the growth of this market. For instance, vegetable oils are being used in manufacturing of scrubs, face wash as oil help in hydrate and moisturise hair, skin etc. Additionally, several manufacturers are focusing on providing organic based vegetable oil which will further boost the growth of this market. For instance, in Sep 2021, Blossom Kochhar Aroma Magic launches 3 Organic Vegetable Oils Olive Oil, Castor Oil and Almond Oil.

Restraint in the Vegetable Oils Market

However, the pricing variable of vegetable oil is high which has hampered the growth of this market. Moreover, high investment requires for the production process further hamper the growth of this market.

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Product Type – Segment Analysis

Based on the Product Type, palm oil is expected to grow at a higher CAGR rate in the global vegetable oils Market during the forecast period owing to its various benefits such as it helps in preventing vitamin A deficiency, brain diseases, cancer and it widely use in treatment of malaria, high blood pressure etc. Moreover, palm oil also helps in increasing the body metabolism which further boost the growth of this market. Additionally, it is mainly used in consumer retail foods and snack manufacturers. Thus, these factor has augmented in the growth of this market.

End Use – Segment Analysis

Based on the End Use, food segment is projected to grow at a higher CAGR rate in the global vegetable oils Market during the forecast period due to growing population resulting in increase in growing demand for food. Vegetable oil is the basic ingredient for making food. For instance, according to FEDIOL, in 2020, 45% of vegetable oils is being used for food application in Europe.

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Regional – Segment Analysis:

Based on the region, Asia Pacific region is expected to grow at a higher CAGR in the global vegetable oils market due to the rapid rising population in this region. The consumption of vegetable oil in China is increasing and is exceeding the production. For instance, according to China Bureau of Statistics, the per capita edible vegetable oil consumption has been increased from 7.7kg in 1996 to 9.8 kg in 2019. Additionally, in 2020 China witnessed a surge of 9.7% of food consumption which directly link to the growth of edible vegetable cooking oil. Moreover, the presence of leading players in this region such as Cofco Corporation, Xiwang Food etc will further boost the growth of this market.

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 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.

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?

 

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues (2028)	USD 315 Billion
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product Type, By End Use, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	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; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

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