Edible
oil is derived from fruits and vegetables. It is used in cooking a
number of dishes. Among the various types of vegetable oil available
commercially, soybean, palm, rapeseed, and sunflower oils are popular
among consumers. The global edible oil market is expected to witness
significant growth in the coming years on account of the rising
popularity of unrefined, unprocessed, healthy, and organic vegetable
oils. Vegetable oils that are low in fat, cholesterol, and calories
are expected to register high growth owing to the growing health
consciousness among people across the globe.
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The
report covers the forecast and analysis of the edible oil market on
the global as well as regional level. It gives a forecast based on
both volume and revenue. The drivers and restraints for the market as
well as the impact they have on the demand for edible oil over the
forecast period from 2016 to 2024 are also included. Additionally,
the report comprises a study of trends and opportunities in the
market. The competitive landscape of the market along with an
analysis of Porter’s five forces model is presented. The market
attractiveness analysis, growth rate, and market size are also given
in the study.
Edible
Oil Market: Trends and Opportunities
The
increasing research and development initiatives taken by players
operating in the global edible oil market have resulted in the strong
growth and expansion of the industry. The extensive R&D has
resulted in a broad range of edible oils at reasonable price points,
tastes, and textures. Innovation, healthier ingredients, and new
flavors will thus, result in market’s growth. Trans-fat free
soybean oil, growing popularity of olive oil, and emerging preference
for canola oil from the food industry will drive the market in the
coming years. Developing markets offer higher growth potential in the
edible oil market.
Other
factors driving the market’s growth include improvement in
retailing network, growing economies, increasing crop yields, and oil
production. Changes in the composition of vegetable oil, consumption
of different varieties of oil, and changing preferences of consumers
as per health requirements are also aiding the growth of the market.
Edible
Oil Market: Region-wise Outlook
The
global
edible oil market is segmented on the basis of geography into
Asia Pacific, North America, Europe, and the Middle East and Africa.
Of these, the consumption of edible oil is rising steadily in Asia
Pacific, with China being the key consumer of vegetable oil. The
densely populated country also produces a sizeable volume of edible
oil every year. Europe follows China in terms of consumption volume
of edible oil.
Key
Players Mentioned in the Report
The
global edible oil market is fragmented with high number of players
and varying oil preferences in different parts of the world. Key
players profiled in the report are: Ruchi soya, The Adani Group
(Fortune Oil), Ach Food Companies Inc., Beidahuang Group, Archer
Daniels Midland Company, and Bunge Alimentos Sa (Brazil).
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