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Global Edible Vegetable Oil Market By Type (Palm Oil, Soybean Oil, Rapeseed Oil, Sunflower Oil, Olive Oil and other), By Application (Food and Feed), By Region (North America, Europe, Asia-Pacific, South America and The Middle East & Africa)-Global Forecast to 2030.
Edible Vegetable Oil Market Overview
The global edible vegetable oil market is estimated to reach USD 4,364.5 million in 2030 with a CAGR of 7.2% during the forecast period of 2022-2030. It was valued at USD 2,823.64 million in 2022. Edible Vegetable oils have multiple applications in the foodservice and food processing industries. The commercial applications in the food industry have the use of edible vegetable oils for salad & dressing, cooking, industrially produced fried foods, compound layers, ice cream coatings, fillings & spreads, and substitute for dairy fats. With the popularity of fast food and transformations in consumer lifestyle toward more convenient foods, the demand for edible vegetable oils from the food processing and service industries has significantly increased.What is Edible Vegetable Oil?
Edible vegetable oil is extracted from different fruits, seeds, grains, and nuts. The most famous edible oils are canola, palm, peanut, safflower, coconut, corn, olive, soybean, rice bran, mustard and sunflower. It is used to prepare food and also adds flavor to the food. Edible vegetable oil is rich in Vitamin E needed in the body for cell protection and development. It includes anti-oxidants that aid in fighting free radicals, responsible for causing diseases in the body.Growth Drivers
Growing Consciousness about Health
Vegetable oil plays an essential role in diet and nutrition. Edible vegetables contain polyunsaturated (omega-3 and omega-6 fatty acids), monounsaturated fats, and saturated fats in various proportions. They help in cholesterol management: Polyunsaturated and monounsaturated fats are the most often found fats in edible vegetable oils. They support lower bad cholesterol levels (LDL) and decrease the chance of cardiovascular diseases, thus enhancing cardioprotective effects. Oils protect our brain cells. Some oils like Peanut oil, Almond oil and Wheat Germ oil are rich in vitamin E, which is needed in the body for cell protection cum product and the right function of the nervous system. This vitamin helps our body by enhancing the immune system. It works as an anti-oxidant and saves the different body tissues such as skin, eyes, etc. Also, the presence of vitamin E in oils allows controlling heart diseases. Vitamin E is an anti-oxidant – controls free radicals aids prevent blood clots and blockages in coronary arteries, thus helping in controlling cardiovascular ailments; these beneficial uses are the growth drivers in the global edible vegetable oil market.Opportunities
Evolution of processing and packaging system in the edible Vegetable oil industry
The edible vegetable oil industry is competitive and innovative in product processing, quality, and cost-effectiveness. The manufacturer has been concentrating on recent trends and market growth to embrace marketing strategies to compete with other players in the market. Recently Adani Wilmar created improvisation in the packaging system of edible vegetable oil. Introduced square shape bottles replacing traditional oval oil containers helps them to the efficiency of shelf-space in supermarkets and retail sector fit the product in less space and gain consumer interest in the market.Restraints
Risks during Oil-Bearing Plant Cultivation
Currently, oil-bearing plants are risked by diseases, pests, air and soil pollution, pesticide residues, and other environmental aspects. The significant decay impacting oil quality and safety is heavy metals and pesticides. Many impurities have been identified during the planning phase that will enter the edible vegetable oil. Some fungi can infect oil plants and produce large amounts of toxins that are very harmful to our human bodies. Aspergillus flavors and A. pesticides can infect peanuts, causing a severe decline in yield, and what’s more, aflatoxin created by them is a heavy carcinogen; pesticides play an essential role in controlling diseases and pests of oil plants, but at the same time, they also pollute the environment and oil plants. During oil processing, pesticides will emigrate and ultimately collect in edible vegetable oils. Pesticide remains in EPOs have become a significant element impacting human health. Common pesticides are endosulfan, chlorpyrifos, cypermethrin, and HCH, categorized as persistent organic pollutants because of their perseverance, bioaccumulation, long-distance migration, and negative effects on organisms.Pre Covid-19 Impact on Global Edible Vegetable Oil Market
Before the covid-19 period, the increasing usage in food applications, mainly in emerging countries, helped the global market growth. The global edible vegetable oil market is increasing consumption in economies like China and India. The rise in consumption in these economies results from the growing population, changing diets, and higher living standards. The rising demand for its imports has delivered further impetus to the market.Covid-19 Impact on Global Edible Vegetable Oil Market
During the covid-19 period, the covid-19 pandemic has unleashed a series of unusual events affecting every industry. However, since overburdened the food industry with the responsibility of meeting the requirements in the time of emergency, especially during the lockdown period, consumed edible vegetable oil for food applications in large amounts, and the market witnessed a surge in demand from the sector. Further, various studies have shown that the demand for edible vegetable oil is rising by 5.5 million by forthcoming years.Post Covid-19 Impact on Global Edible Vegetable Oil Market
After the covid-19 outbreak, increasing awareness of the health advantages of people and less consumption of fat-free oils has a significant impact on the edible vegetable oil market. Raising interest in olive oil and canola oil from the food industry will drive the edible vegetable oil market before the covid-19. Edible vegetable oil consumption has increased in developing nations due to increased fried-food practices and increasing disposable income of people. Moreover, edible oil producers adopt advanced processing strategies to offer healthier and more reasonable oil. For example, raising interest in olive oil and canola oil from the food industry will drive the edible oil market.By Type Segmental Analysis
Based on type, the global edible vegetable oil market, Palm Oil, Soybean Oil, Rapeseed Oil, Sunflower Oil, Olive Oil and others. Palm Oil is the major part of generating revenue in 2021. It is mainly owing to the increasing use of health and the nominal price of palm oil. Moreover, palm oil is generated from plant seeds that support improved vision and protection from cardiovascular diseases and also helps to improve the growth of hair, increases the consumption of triglycerides palm oil and raises the market growth. The Soyabean Oil segment is estimated to record the fastest CAGR of 1.05% for 2022-2030. It is mainly due to use for cooking purposes and includes hydrogenation that helps increase the shelf life and expand the growth of this segment.
By Application Segmental Analysis
The global edible vegetable oil market is segmented into Food and Feed based on application. The food segment holds the highest share in the global edible vegetable oil market. Edible vegetable oils are normally used in industrial food manufacturing and home food preparing worldwide and are the foremost source of unsaturated fats and vitamin E in human diets. For Instance; The American Heart Association advises a regular intake of omega-3 fatty acids to control cardiovascular diseases. Thus oils and fats form an essential part of any healthy and balanced diet.By Regional Segmental Analysis
The global edible vegetable oil market is segmented into North America, Europe, Asia-Pacific, South America and The Middle East & Africa. It is owing to the increasing accessibility of the different number of food and beverage factories, growing research and advancement in the food industry and rising endeavors by the government. According to Food and Agricultural Organization, the per capita consumption growth of edible vegetable oil is raised by 3.1% p.a. India is considered the number one importer of vegetable oil globally, increasing this market’s growth.Competitors Analysis
Fuji Vegetables Oil, Inc., Bunge Limited, Conagra Brands, Adani Group, America Vegetables Oils, Inc., Emami Agrotech Ltd., Victoria Group, Sunflower Vegetable Oil, Nisshin Oillo Group and other prominent players in the global edible vegetable oil market. Key Stakeholders- Market research and consulting firms
- Industry associations
- Edible Vegetable Oil Firms
- Local Governments
- Regulatory bodies
- Suppliers
- Retailers
Recent Development
- In June 2022, Freedom Refined Sunflower Oil, Gemini Edibles & Fats India (GEF India) announced plans to increase into other regions, including Tamil Nadu and Kerala. The business asserted that it is considering strategic expansion and plans to enter Tamil Nadu and Kerala, with a strong demand for sunflower oil, in the coming years.
- In February 2019, Richardson International Limited declared the purchase of Wesson, a retail brand of canola and vegetable oils. The company purchased Wesson from Conagra Brands Inc., a leading international edible oil company.
- In February 2019, Calyxt, Inc. established ‘Calyno high oleic soybean oil’ in the US market. The product claims to contain 80% oleic acid and zero grams of trans fat (per serving) and can be used for frying purposes, salad dressings, and others.
- In 2019, EFKO Group and VTB Group contracted to develop infrastructure in the Taman seaport. The agreement contains the invention and further exploitation of infrastructure objects for transshipment of grain and meal under 10 million metric tons and 3 million metric tons of vegetable oils in Taman seaport in the Russian Federation.
Scope of the Report
| Report Attribute | Details |
|---|---|
| Revenue in 2021 | USD 2,623.64 million |
| The revenue forecast in 2028 | USD 3,964.5 million |
| Growth Rate | CAGR of 6.3% from 2022 to 2028. |
| Historical data | 2017 – 2020 |
| Forecast period | 2022 – 2028 |
| Region covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Key companies Profiled | Fuji Vegetables Oil, Inc., Bunge Limited, Conagra Brands, Adani Group, America Vegetables Oils, Inc., Emami Agrotech Ltd., Victoria Group, Sunflower Vegetable Oil, Nisshin Oillo Group are the key players. |
Market Modelling
By Type- Palm Oil
- Soybean Oil
- Rapeseed Oil
- Sunflower Oil
- Olive Oil
- Others
- Food
- Feed
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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Report Content
- Research Strategic Development
1.1. Market Modelling
1.2. Product Analysis
1.3. Market Trend and Economic Factors Analysis
1.4. Market Segmental Analysis
1.5. Geographical Mapping
1.6. Country Wise Segregation
- Research Methodology
2.1. Identification of Target Market
2.2. Data Acquisition
2.3. Refining of Data/ Data Transformations
2.4. Data Validation through Primary Techniques
2.5. Exploratory Data Analysis
2.6. Graphical Techniques/Analysis
2.7. Quantitative Techniques/Analysis
2.8. Visual Result/Presentation
- Executive Summary
- Market Insights
4.1. Supply Chain Analysis
4.2. Economic Factor Analysis
4.2.1. Drivers
4.2.2. Trends
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape
4.4. Competitors & Product Analysis
4.5. Regulatory Framework
4.6. Company market share analysis, 2022
4.7. Porter’s Five forces analysis
4.8. Price point analysis
4.9. New Investment Analysis
4.10. PESTEL Analysis
4.11. Impact of Covid-19
- Global Edible Vegetable Oil Market Overview
5.1. Market Size & Forecast,2017-2030
5.1.1. Demand
5.1.1.1. By Value (USD Million)
5.2. Market Share & Forecast, 2017-2030
5.2.1. By Type
5.2.1.1. Palm Oil
5.2.1.2. Soybean Oil
5.2.1.3. Rapeseed Oil
5.2.1.4. Sunflower Oil
5.2.1.5. Olive Oil
5.2.1.6. others
5.2.2. By Application
5.2.2.1. Food
5.2.2.2. Feed
5.2.3. By Region
5.2.3.1. North America
5.2.3.2. Europe
5.2.3.3. Asia-Pacific
5.2.3.4. South America
5.2.3.5. The Middle East & Africa
- North America Edible Vegetable Oil Market Overview
6.1. North America Edible Vegetable Oil Market Size & Forecast,2017-2030
6.1.1. Demand
6.1.1.1. By Value (USD Million)
6.2. Market Share & Forecast, 2017-2030
6.2.1. By Type
6.2.1.1. Palm Oil
6.2.1.2. Soybean Oil
6.2.1.3. Rapeseed Oil
6.2.1.4. Sunflower Oil
6.2.1.5. Olive Oil
6.2.1.6. others
6.2.2. By Application
6.2.2.1. Food
6.2.2.2. Feed
6.2.3. By Country
6.2.3.1. US
6.2.3.2. Canada
6.2.3.3. Mexico
6.2.4. Company Market Share (Top 3-5)
6.2.5. Economic Impact Study on North America Edible Vegetable Oil Market
- Europe Edible Vegetable Oil Market Overview
7.1. Europe Edible Vegetable Oil Market Size & Forecast,2017-2030
7.1.1. Demand
7.1.1.1. By Value (USD Million)
7.2. Market Share & Forecast, 2017-2030
7.2.1. By Type
7.2.1.1. Palm Oil
7.2.1.2. Soybean Oil
7.2.1.3. Rapeseed Oil
7.2.1.4. Sunflower Oil
7.2.1.5. Olive Oil
7.2.1.6. others
7.2.2. By Application
7.2.2.1. Food
7.2.2.2. Feed
7.2.3. By Country
7.2.3.1. Germany
7.2.3.2. UK
7.2.3.3. France
7.2.3.4. Italy
7.2.3.5. Rest of Europe
7.2.4. Company Market Share (Top 3-5)
7.2.5. Economic Impact Study on Europe Edible Vegetable Oil Market
- Asia-Pacific Edible Vegetable Oil Market Overview
8.1. Asia-Pacific Edible Vegetable Oil Market Size & Forecast,2017-2030
8.1.1. Demand
8.1.1.1. By Value (USD Million)
8.2. Market Share & Forecast, 2017-2030
8.2.1. By Type
8.2.1.1. Palm Oil
8.2.1.2. Soybean Oil
8.2.1.3. Rapeseed Oil
8.2.1.4. Sunflower Oil
8.2.1.5. Olive Oil
8.2.1.6. others
8.2.2. By Application
8.2.2.1. Food
8.2.2.2. Feed
8.2.3. By Country
8.2.3.1. India
8.2.3.2. Japan
8.2.3.3. Australia
8.2.3.4. Rest of Asia Pacific
8.2.4. Company Market Share (Top 3-5)
8.2.5. Economic Impact Study on Asia Pacific Edible Vegetable Oil Market
- South America Edible Vegetable Oil Market Overview
9.1. South America Edible Vegetable Oil Market Size & Forecast,2017-2030
9.1.1. Demand
9.1.1.1. By Value (USD Million)
9.2. Market Share & Forecast, 2017-2030
9.2.1. By Type
9.2.1.1. Palm Oil
9.2.1.2. Soybean Oil
9.2.1.3. Rapeseed Oil
9.2.1.4. Sunflower Oil
9.2.1.5. Olive Oil
9.2.1.6. others
9.2.2. By Application
9.2.2.1. Food
9.2.2.2. Feed
9.2.3. By Country
9.2.3.1. Brazil
9.2.3.2. Argentina
9.2.3.3. Rest of South America
9.2.4. Company Market Share (Top 3-5)
9.2.5. Economic Impact Study on South America Edible Vegetable Oil Market
- The Middle East & Africa Edible Vegetable Oil Market Overview
10.1. The Middle East & Africa Edible Vegetable Oil Market Size & Forecast,2017-2030
10.1.1. Demand
10.1.1.1. By Value (USD Million)
10.2. Market Share & Forecast, 2017-2030
10.2.1. By Type
10.2.1.1. Palm Oil
10.2.1.2. Soybean Oil
10.2.1.3. Rapeseed Oil
10.2.1.4. Sunflower Oil
10.2.1.5. Olive Oil
10.2.1.6. others
10.2.2. By Application
10.2.2.1. Food
10.2.2.2. Feed
10.2.3. By Country
10.2.3.1. Saudi Arabia
10.2.3.2. UAE
10.2.3.3. South Africa
10.2.3.4. Rest of the Middle East & Africa
10.2.4. Company Market Share (Top 3-5)
10.2.5. Economic Impact Study on Middle East & Africa Edible Vegetable Oil Market
- Competitor Analysis
11.1. Company Description
11.2. Financial Analysis
11.3. Key Products
11.4. Key Management Personnel
11.5. Contact Address
11.6. SWOT Analysis
11.7. Company Profile
11.7.1. Fuji Vegetables Oil, Inc.
11.7.2. Bunge Limited
11.7.3. Conagra Brands
11.7.4. Adani Group
11.7.5. America Vegetables Oils, Inc.
11.7.6. Emami Agrotech Ltd.
11.7.7. Victoria Group
11.7.8. Sunflower Vegetable Oil
11.7.9. Nisshin Oillio Group
11.7.10. Other Prominent Players
Frequently Asked Questions (FAQ):
The global edible vegetable oil market is estimated to reach USD 4,364.5 million in 2030 with a CAGR of 7.2% during the forecast period of 2022-2030. It was valued at USD 2,823.64 million in 2022.
Edible vegetable oil contains polyunsaturated (omega-3 and omega-6 fatty acids), monounsaturated fats, and saturated fats in various proportions. They help in cholesterol management: Polyunsaturated and monounsaturated fats are the most often found fats in edible vegetable oils. They support lower bad cholesterol levels (LDL) and decrease the chance of cardiovascular diseases, thus enhancing cardioprotective effects. These are the growth factors in the global edible vegetable oil market.
Fuji Vegetables Oil, Inc., Bunge Limited, Conagra Brands, Adani Group, America Vegetables Oils, Inc., Emami Agrotech Ltd., Victoria Group, Sunflower Vegetable Oil, Nisshin Oillo Group are the key players in the global edible vegetable oil market.
Many impurities have been identified during the planning phase that will enter the edible vegetable oil. Some fungi can infect oil plants and produce large amounts of toxins that are very harmful to our human bodies.
The Asia Pacific dominated the Vegetable Oil Market with a major share of 45% in 2021. It is owing to the increasing accessibility of the different number of food and beverage factories, growing research and advancement in the food industry and rising endeavors by the government.
