GCC & Qatar Cooking Oil Market: New Innovations, Application, Recent Trend Updates & Forecast

The GCC cooking oil market has been displaying steadfast growth over the past few decades. Changing lifestyle and increasing purchasing power have led to increasing consumption of processed food thereby benefitting the cooking oil market. Increasing investments for R&D to introduce new line of products is also favoring the GCC cooking oil market.

On the other hand, Qatar cooking oil market is poised for steady growth in the upcoming years. Growth of the hospitality industry in Qatar has benefitted several ancillary industries such as food processing. The foray of international hotel chains to serve rising tourism has complemented the growth of cooking oils industry in Qatar.

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However, low small volume local production leading to high dependency on imports is challenging the growth of GCC cooking oil industry. High capital involved in intermediate processes of extracting cooking oil is restricting the entry of small players. This holds back the growth of GCC and Qatar cooking oil industry.

Owing to a number of favorable factors, the GCC cooking oil market is likely to rise at a CAGR of 6.6% between 2017 and 2024. Qatar cooking oil market is likely to proliferate at a CAGR of 7.4% vis-à-vis revenue from 2017 to 2024.

The GCC cooking oil market has been bifurcated in terms of product type into sunflower oil, palm oil, corn oil, and others. Of them, sunflower oil holds the leading market share as it is beneficial for human health.

Large Immigration Population catapult Demand for Cooking Oil in GCC Countries

On the basis of region, countries of GCC and Qatar are the segments into which the GCC and Qatar cooking oil market is classified. The large population of immigrants from South East Asian countries such as India and Sri Lanka displays substantial demand for cooking oil in GCC countries. A large expatriate population from European countries is boosting the Qatar cooking oil market.

Key players in the GCC and Qatar cooking oil industry include United Foods Company, Savola Group, Emirates Refining Company Ltd., Hayel Saeed Anam Group and Co., Asia Africa General Trading LLC, Ghurair Resources Oils and Proteins, and Omani Vegetables Oils and Derivatives Co. LLC.