Edible
oil can be defined as the oil prepared from vegetable and fruit,
which are processed for edible purpose. Edible oil is used in cooking
number of dishes.
The
edible
oil market
can be segmented into product type such as rapeseed palm oils,
soybean, and sunflower among others. The market can also be segmented
geographically into North America, APAC, Europe and RoW regions.
The
global demand for edible oil is expected to grow at a single digit
increase in CAGR from 2013 to 2019. The palm oil is most consumed
edible oil in the world, and accounts for approximately 30 percent of
total edible oil market.
The
key driver of edible oil consumption is the consistent growth in fast
food industry, restaurants and other finished food product industry
such as baked food among others. The consumption is increasing in
Asia Pacific due to the increasing population in India and China.
China is one the major consumer of vegetable oil followed by Europe
which has the second position in terms of consumption. Moreover
research and development by major manufacturers’ leads to oil
production containing low fat content and add extra nutrients.
Preference of refined oil is also rising, health is the major concern
and health trend among consumers has forced manufacturer to produce
oil such as rice bran oil. Rice bran oil is considered to be good for
health as it contains orzonal that is good for heart. Therefore the
edible oil companies are focusing on innovation on raw materials. The
market is highly fragmented due to numerous players and differed oil
preferences in different geographies.
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Some
of the key players in the edible oil market are The Adani
Group(fortune oil), Ruchi soya, Ach Food Companies Inc., Archer
Daniels Midland Company, Beidahuang Group ,Bunge Alimentos Sa
(Brazil) among others.
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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