Edible Oils Market to grow to $ 198.14 billion by 2030: Report Covers Global Analysis by Type, Packaging Type, Distribution Channel Growth and Forecast (2024-2030) | MMR

The Edible Oils Market size was valued at USD 120.45 Billion in 2023 and the total Edible Oils Market revenue is expected to grow at a CAGR of 7.37% from 2024 to 2030, reaching nearly USD 198.14 Billion.
Edible Oils Market Overview:
The edible oils market is highly competitive globally, showing a mix of large players and small-scale manufacturers that provides a diverse array of edible oil products. The Edible vegetable oils consist of nearly 96% triglycerides of plant origin comprising 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. The study provided detailed information about edible oil parameters such as consumer preferences, safety regulations across the countries, etc.



The MMR 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 2023 and forecast period 2024-2030. This MMR report includes investor recommendations based on a thorough examination of the Edible Oils market's contemporary competitive scenario.

Global Edible Oils Market: Competitive Dashboard

Manufacturers of edible oils are growing their marketing approaches to align with ongoing market trends. Prominent suppliers are increasingly focusing on the nutritional enhancement of their products, offering various edible oils that boast specific health benefits. High quality remains a top priority for these manufacturers. Notable developments in the industry include Cargill's launch of the Gemini Pureit sunflower oil brand in Karnataka, India, in February 2023.

Alfa Laval acquired Desmet, a world leader in edible oil and biofuel processing in 2022. Furthermore, in November 2021, Cargill announced a USD 35 million investment to acquire and upgrade an edible oil refinery in Nellore, Andhra Pradesh. In August 2021, the Government of India launched the National Mission for Edible Oils - Oil Palm (NMEO-OP), further highlighting the importance of this sector.

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Edible Oils Market Dynamics:
Global Fast-Food Boom Drives Edible Oils Market Demand:

The growing demand for fast food globally is driving an increased demand for edible oils. Factors such as changing lifestyles, evolving food tastes, and a rising number of working women are contributing to the surge in fast food consumption. Fast food aims to satisfy consumers by providing quick service and rapid turnover at competitive prices. These foods are easily prepared using energy-efficient cooking methods and are highly palatable owing to fat absorption, crust formation, and appealing flavors and aromas. Frying, a popular method for preparing meals and fast foods worldwide, relies on oil for its chemical composition that facilitates the right reactions, resulting in delicious food. Consequently, this trend is boosting the demand for edible oils market.

Increasing Awareness About the Health Benefits Associated with Edible Oils Consumption

An equilibrated diet and regular exercise are crucial for preventing and improving the quality of life for patients suffering from chronic diseases such as cancer, neurological disorders, and cardiovascular diseases. Fats, a significant component of the diet, are predominantly consumed through edible oils market. While many people worldwide consume excessive calories from fats, contributing to a global pandemic of obesity and overweight individuals, it is important to note that not all fats impact health negatively. Edible oils, which are a major source of dietary fats, offer various health benefits. One of the primary advantages of edible oil is its lightness and ease of digestion. Rich in Vitamin E and antioxidants, edible oils also contain unsaturated fats that help lower cholesterol levels, making them beneficial for heart health. Furthermore, organic oils are often unrefined, unbleached, and unscented, preserving their natural qualities and enhancing their health benefits. As awareness of these health benefits grows, the demand for edible oils is increasing, driving significant growth in the edible oils market. This awareness, coupled with the recognized need for healthier dietary fats, positions edible oils as a key component in promoting better health and preventing chronic diseases.

Adverse Health Effects Associated with Oil Rancidity Restrain Edible Oils Market Growth

When oils meet oxygen and moisture, they undergo a process called autooxidation, or rancidity. This results in unpleasant odors, changes in taste, strange hues, the formation of potentially harmful chemicals, and a decline in the product's effectiveness. Edible vegetable oils are particularly prone to quality decline due to oxidation and microbial degradation, leading to nutritional loss and off-flavors. Quality degradation of oils can result in the creation of reactive and hazardous oxidation products, posing 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. Furthermore, rancid oils can upset the stomach and deplete the body of vitamins B and E. The chemical composition of edible oils includes saturated and unsaturated fatty acids and glycerides, which are susceptible to these adverse changes. These health risks associated with oil rancidity are a significant restraint on the growth of the edible oils market.
Edible Oils Market Segment Analysis:
By Type, the Palm Oils segment held the highest market share of about 45% in 2023 and is expected to dominate the edible oils 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 predominantly consumed in India, China, Indonesia, and Europe. The demand for palm oils is increasing because an individual needs to consume 2kg of palm oil per year, accounting for 6% of total fat consumption for a healthy adult between the ages of 18 and 72. Replacing palm oil with other types of edible oil, such as sunflower, soybean, or rapeseed oil, would require significantly more land because palm trees produce 4-10 times more oil per unit of farmed area than other crops. This substitution would have a considerable environmental impact, potentially leading to more forests being converted into agricultural land, thus affecting the Edible Oils Market.

The soybean oils segment is expected to grow significantly during the forecast period. Soybean oil is considered healthier than many other edible oils due to its range of important fatty acids and high Omega-3 and Omega-6 content. These fatty acids help control lipid and cholesterol metabolism and maintain healthy arterial veins. Additionally, its high vitamin B concentration aids digestion, preventing chronic digestive problems and constipation. Refined soybean oil is widely utilized worldwide for these health benefits. Soybean oil also contains vitamin E, an anti-inflammatory ingredient that benefits skin health, making it popular in serums, gels, lotions, and other beauty products.

Its moderate, neutral flavor suits various recipes, further increasing its demand in the Edible Oils Market.
Soybean oil is generally safe for most people when consumed in food proportions and applied to the skin in approved amounts as an insect repellent. Pharmaceutical-grade soybean oil is also acceptable when used as a nutritional supplement in intravenous feedings. However, soybean oil can cause negative effects, including allergies in individuals hypersensitive to soybeans and soy products, gynecomastia, mood disorders, and obesity due to increased estrogen levels, especially in males. Growing awareness about these side effects may restrict segment growth in the Edible Oils Market.



Based on Packaging Type, in 2023, the pouches segment is projected to hold a significant 60% share of the global edible oils market, driven by its increasing popularity among consumers. Pouches offer numerous advantages over traditional packaging formats such as bottles and cans. They occupy less physical space, which appeals particularly to urban consumers living in smaller spaces. Furthermore, pouches are lightweight and easy to handle, making them highly portable for today's on-the-go lifestyles. Moreover, the pouch format allows for innovative bag-in-box packaging solutions that minimize oil wastage and mess during filling. Enhanced barrier technologies employed in pouches help maintain oil freshness better than other packaging types. Some self-standing pouch designs facilitate easier dispensing and pouring of oil directly from the pouch without requiring an additional container, adding to their convenience. These user-friendly features are driving increased consumer preference, especially among young professionals and families, towards oils packaged in pouches. Overall, these factors have positioned pouches as the preferred format driving growth in the edible oils market globally.
Edible Oils Market Regional Insights:
In 2023, The Asia-Pacific edible oils market had a revenue share of about 53% 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. Furthermore, the increasing usage of edible oil in cosmetics and personal care products is driving growth in the Asia-Pacific edible oils 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 edible oils 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 because 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 market to the stakeholders in the industry. The past and status of the industry with the forecasted edible oils 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. The report also helps in understanding the Edible Oils market dynamics, and structure by analyzing the edible oils 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.
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Edible Oils Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 120.45 Bn.


Forecast Period 2024 to 2030 CAGR:
7.37%
Market Size in 2030:
US $ 198.14 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



Edible Oils Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Edible Oils Market Key Players:
1 Aceitera General Deheza (Argentina)
2. Adams Group (United States)
3. Adani Group (India)
4. Agro Tech Foods Limited (India)
5. American Vegetable Oils, Inc. (United States)
6. Archer Daniels Midland Company (United States)
7. Associated British Foods plc (United Kingdom)
8. Beidahuang Group (China)
9. Borges Mediterranean Group (Spain)
10. Bunge Limited (United States)
11. Cargill, Incorporated (United States)
12. Emami (India)
13. Fuji Vegetable Oil (Japan)
14. Kaneka Corporation (Japan)
15. Louis Dreyfus Company Brasil (Brazil)
16. Nisshin Oillio Group (Japan)
17. Patanjali Foods Limited (India)
18. PT Sinar Mas Agro Resources And Technology Tbk (Indonesia)
19. Sime Darby Plantation Berhad (Malaysia)
20. The Graincorp Oilseeds (Australia)
21. Vicentin S.A.I.C. (Argentina)
22. Wilmar International Ltd (Singapore)

Frequently Asked Questions:

1] Which region is expected to hold the largest market share in the global Edible Oils Market?
Ans. The Asia Pacific region is expected to hold the largest market share in the Edible Oils Market during the forecast period.

2] Which Packaging Type segment is expected to dominate the global Edible Oils Market during the forecast period?
Ans. The Pouches segment is expected to dominate the global Edible Oils Market during the forecast period.

3] What are the major key players of the global Edible Oils Market?
Ans. The major key players of the global Edible Oils Market are Aceitera General Deheza, Adams Group, Adani Group, Agro Tech Foods Limited among others.

4] Which Distribution Channel segment is expected to hold the largest market share in the global Edible Oils Market?
Ans. The Supermarkets and Hypermarkets egment is expected to dominate the global Edible Oils Market during the forecast period.

5] What is the forecast period for the Global Edible Oils Market?
Ans. The forecast period for the Edible Oils Market is 2024-2030.