Edible Oils Market: Global Industry Analysis And Forecast (2023-2029)

Edible Oils Market size was valued at USD 113.68 Bn. in 2022 and the total Edible Oils revenue is expected to grow by 7.6% from 2023 to 2029, reaching nearly USD 189.84 Bn.
Edible Oils Market Overview:
The Edible vegetable oils consist of about 96% triglycerides of plant origin including olive, palm, soybean, canola, and sunflower oil, and are composed of different fatty acids. Other compounds or group of compounds identified include free fatty acids, phospholipids, phytosterols, tocopherols, and other antioxidants or waxes. Oil and fat are important nutritional components with a variety of functions in our body as an energy source, membrane structures, regulating body temperature, and insulating organs. The study provided detailed information about edible oil parameters such as consumer preferences, safety regulations across the countries, etc.To know about the Research Methodology :- Request Free Sample Report

The report covers the Edible Oils market's segments by Type, Packaging Type, Distribution Channel, and Region. The data provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. This MMR report includes investor recommendations based on a thorough examination of the Edible Oils market's contemporary competitive scenario.

Some of the major market organizations are investing in M&A and implementing their expertise in the usage of new technologies to gain profitability and momentum in the global edible oils market. In addition, the major players are lowering the costs of their products to remain dominant in the global market. For example, by July 2022, Adani Wilmar's 'Fortune' reduces edible oil prices by up to INR 30 per liter. However, the additional expenses associated with oil processing may limit the growth of the edible oils market. Likewise, the factors which are driving as well as restraining the market growth across the regions, market prospects, and barriers are covered in the report.
Edible Oils Market Dynamics:
Growing demand for fast food across the world increasing demand for edible oils.

The changing lifestyle, food taste, increasing numbers of working women, etc. are the factors increasing the demand for fast food across the world. The objective of fast food is to satisfy consumers by giving fast service and rapid turnover at competitive pricing. They are simply served and prepared using energy-saving cooking methods, and they boost palatability due to fat absorption, crust creation, and pleasant flavors and smells. Frying is one of the most common methods of preparing meals and fast foods all around the world. Oil is used to fry food because it has the appropriate chemical composition for the right reactions to occur, resulting in delicious food. And hence, it growing the demand for the edible oil market.

Increasing awareness about the Health benefits associated with edible oils consumption:

An equilibrate diet and exercise have been advocated to help to prevent and enhance the quality of life of patients suffering from chronic diseases such as cancer, and neurological and cardiovascular disease. Fats are one of the most important dietary components, and edible oils are the most common source of fat consumption. Much of the world's population consumes too many calories from fat, and there is now a global pandemic of obese or overweight people. However, not all fats are the same when it comes to our health. As a result, numerous issues about fat intake remain. One of the primary advantages of edible oil is that it is light and easy to digest. It is high in Vitamin E and contains a lot of antioxidants. It contains unsaturated fats that lower cholesterol levels, making it heart-healthy. Organic oil is unrefined, unbleached, and unscented. These factors increase the demand for the edible oil market and are a major driver for the market.

Adverse health effects associated with oil rancidity restrain the market growth.

When oils come into contact with oxygen and moisture, they undergo a process called autooxidation/ rancidity, which results in the production of bad smells, changes in tastes, and strange hues, the creation of potentially dangerous chemicals, and a decline in the product's effectiveness. Edible vegetable oils are subject to quality decline due to oxidation and microbial degradation, which results in nutritional loss and off-flavors. Quality degradation may contribute to the creation of reactive and hazardous oxidation products, which offer health risks such as cancer and inflammation. In the body, rancid oil produces toxic free radicals, which are known to cause cellular damage and have been linked to diabetes, Alzheimer's disease, and other disorders. Rancid oils can also upset the stomach and deplete the body of vitamins B and E. Saturated and unsaturated fatty acids and glycerides make up their chemical edible.
Edible Oils Market Segment Analysis:
By Type, the Palm Oils segment held the highest market share of about 45% in 2022 and is expected to dominate the market at the end of the forecast period. Palm oil, the most widely consumed edible oil, has been a key driver of a tremendous rise in global vegetable oil markets. The oil palm tree, which grows mainly in the tropics, generates high-quality oil that is mostly used for cooking in developing countries. Thanks to its unique applications such as great cooking properties, smooth and creamy texture, absence of smell, and the natural preservative effect that extend the shelf life of food products, the demand for palm oil is increasing rapidly during the forecast period. It is also utilized in a variety of items ranging from margarine, ice cream, detergents, cosmetics, and fuel for automobiles and power plants, among others.

Palm oil is mostly consumed in India, China, Indonesia, and Europe. The demand for palm oils is also increasing because an individual needs to eat 2kg of palm oil per year or 6% of total fat consumption for an adult between the ages of 18 and 72 for a healthy life. Replacing palm oil with other types of edible oil such as sunflower, soybean, or rapeseed oil would need the usage of significantly more land because palm trees produce 4-10 times more oil per unit of farmed area than other crops. This would cause a significant environmental impact, with the possibility of more forests being turned into agricultural land.

The soybean Oils segment is expected to grow significantly during the forecast period. Soybean oils contain a range of important fatty acids, soybean oil is regarded as healthier than many other edible oils. It is widely popular due to its high Omega 3 and Omega 6 content. These fatty acids control lipid and cholesterol metabolism and help to keep arterial veins healthy. Moreover, its high vitamin B concentration facilitates digestion, preventing chronic digestion problems and constipation. Because of these factors, refined soybean oil is widely utilized around the world. Soybean oil also contains vitamin E, an anti-inflammatory ingredient that can benefit skin health due to this, it is widely used in Serums, gels, lotions, and other beauty products for the skin. In addition, Soybean oil has a moderate, neutral flavor that works well in almost any recipe that requires cooking. This property rises the demand in the market for the soybean oils segment.

Soybean oil is safe for most people when consumed by the mouth in proportions found in food and when applied to the skin in approved amounts as an insect repellant. When utilized as a nutritional supplement in intravenous feedings, pharmaceutical-grade soybean oil is also acceptable. However, Soybean Oil has negative impacts including allergies in those who are hypersensitive to soybeans and other Soy-products, gynecomastia, mood disorders, and obesity, which is more prominent in males owing to an increase in estrogen levels. Growing awareness about the side effects of soybean oil may restrict segment growth.

The reports cover a detailed segment analysis including the drivers, barriers, potentials, and major challenges of the segment.
Regional Insights:
The Asia-Pacific market had a revenue share of about xx% of the global edible oils market and is expected to maintain its dominance at the end of the forecast period. The APAC region has a dense concentration of global and local edible oil manufacturers, as well as a massive population, increasing disposable income, and increased awareness among individuals about the health benefits of edible oil usage, rapidly growing food processing industries in Asia and other developing countries which are the factors driving the region's edible oils market growth. Additionally, the increasing usage of edible oil in cosmetics and personal care products is driving growth in the Asia-Pacific market. India has the world's fourth biggest vegetable oil economy, harvesting over 25 million tonnes of oilseeds annually. China is the world's largest consumer of edible oil, followed by Europe. But China's COVID-19 regulations, decreasing economic development, and increased global commodity costs have decreased China's demand for oilseed processing, protein meal, and vegetable oil consumption.

North American market is expected to account for the significant growth in the global edible oils market during the forecast period owing to the increasing adoption of edible oil in the cosmetic and beauty product industry and the presence of major players in the US and Canada, etc. Global soybean production increased in past years, with bumper crops in the United States and Brazil adding to inventory buildups. Demand for protein meals has slowed as a result of China's new tariffs on US soybean exports and consequent steps to reduce the proportion of protein meal in feed rations.

The objective of the report is to present a comprehensive analysis of the Edible Oils market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Edible Oils market dynamics, and structure by analyzing the market segments and projecting the Edible Oils market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Edible Oils market make the report investor’s guide.
Edible Oils Market Scope: Inquire before buying



Edible Oils Market


Base Year
2022
Forecast Period
2023-2029


Historical Data
CAGR
Market Size in 2022
Market Size in 2029


2018 to 2022
7.6%
US$ 113.68 Bn
US$ 189.84 Bn


Segments Covered


by Type
Palm Oil
Soybean Oil
Mustard Oil
Sunflower Oil
Olive Oil
Others
by Packaging Type
Pouches
Jars
Cans
Bottles
by Distribution Channel
Direct/Institutional Sales
Supermarkets and Hypermarkets
Convenience Stores
Online
Others


Regions Covered


North America
United States
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Sweden
Austria
Rest of Europe
Asia Pacific
China
S Korea
Japan
India
Australia
Indonesia
Malaysia
Vietnam
Taiwan
Bangladesh
Pakistan
Rest of APAC
Middle East and Africa
South Africa
GCC
Egypt
Nigeria
Rest of ME&A
South America
Brazil
Argentina
Rest of South America



Key Players are:
1. Aceitera General Deheza
2. Adams Group
3. Adani Group
4. Agro Tech Foods Limited
5. American Vegetable Oils, Inc.
6. Archer Daniels Midland Company
7. Associated British Foods plc
8. Beidahuang Group
9. Borges Mediterranean Group
10. Bunge Limited
11. Cargill, Incorporated
12. Emami
13. Fuji Vegetable Oil
14. Kaneka Corporation
15. Louis Dreyfus Company Brasil
16. Nisshin Oillio Group
17. Patanjali Foods Limited
18. PT Sinar Mas Agro Resources And Technology Tbk
19. Sime Darby Plantation Berhad
20. The Graincorp Oilseeds
21. Vicentin S.a.i.c.
22. Wilmar International Ltd

FAQs:

1. Which is the potential market for Edible Oils in terms of the region?
Ans. The APAC market is the potential market for Edible oils in term of region.

2. What are the opportunities for new market entrants?
Ans. The key opportunity in the market is Increasing awareness about the Health benefits associated with edible oil consumption.

3. What is expected to drive the growth of the Edible Oils market in the forecast period?
Ans. Growing demand for fast food across the world increasing demand for edible oils.

4. What is the projected market size & growth rate of the Edible Oils Market?
Ans. The edible Oils Market size was valued at USD 113.68 Billion. In 2022 and the total Edible Oils revenue is expected to grow by 7.6% from 2023 to 2029, reaching nearly USD 189.84 Billion.

5. What segments are covered in the Edible Oils Market report?
Ans. The segments covered are Type, Packaging Type, Distribution Channel, and Region.