Edible Oil Market Overview On Revolutionary Trends by 2024

Global Edible Oil Market: Overview

The global edible oil market is anticipated to witness a substantial growth owing to increasing popularity of unrefined, unprocessed, healthy, and organic oil. In the coming years, vegetable oils with low cholesterol, fat, and calories are likely to gain high response due to growing health awareness among people across the world. In addition, major improvement in retail network, increasing crop yields, oil production, and growing economies are some of the prominent factors supporting the growth of the global edible oil market. Furthermore, growing popularity of canola oil, trans-fat free soybean oil, and emerging preference for olive oil will drive the global market for edible oil.

The report offers a comprehensive overview of the global edible oil market covering all the major factors such drivers, restraints and trends influencing the nature of the market. It also features profiles of the leading players present in the market along with details such as company overview, business strategies, trends adopted, and recent developments in the respective field.

Global Edible Oil Market: Drivers and Restraints

The retail segment is expected to drive the sales of edible oils on account of strong supply chain of chain of edible oil products and established chain of retail outlets. Vegetable oil consumption has increased in developing countries due to increasing demand from growing population, surging retail sector, and rise in overall household income. Additionally, manufacturers of edible oils are adopting advanced processing technique to offer healthier and affordable oil. However, they lack in the production of edible oil in comparison with incoming demand.

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Global Edible Oil Market: Segmentation

The market for edible oil can be segmented on the basis of type, end-users, and geography. In terms of type, the market can be classified into palm oil, canola oil, olive oil, sunflower oil, specialty blended oil, and corn oil. Increasing consumption of fried foods has significantly increased the demand for edible oils. Based on end-users, the marker for edible oil can be divided into food processor, food service, and retail. Improving living standards, changing dietary habits, and increasing consumer preference for healthy edible oil supporting the growth of the global edible oil market.

Geographically, the market for edible oil can segments into different regions such as Europe, the Middle East and Africa, Latin America, North America, and Asia Pacific. Developing countries such China and India are the major market for edible oil. China is one of the leading consumer of edible oil across the world followed by Europe.

Global Edible Oil Market: Competitive Landscape

Some of the key players operating in the global edible oil market include Archer Daniels Midland Company, Beidahuang Group, Ruchi Soya, Ach Food Companies Inc., Bunge Alimentos Sa, and Adani Group.

Increased Awareness to Support Global Edible Oil in Reporting High Growth

Thanks to the increased awareness among consumers regarding the benefits of edible oils across the world, the global market for edible oils is registering a tremendous rise. With its cost efficiency, the global market is likely to remain lucrative in the years to come. According to Transparency Market Research (TMR), the opportunity in this market is anticipated to rise at a significant CAGR over the next few years.

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Here is a snapshot of how the global edible oil market is performing:

Rise in Number of Restaurants and Eateries to Support Global Metal Packaging Market

The global market of edible oil is primarily driven by the continued mushrooming of restaurants, eateries, and fast food joints across the world. The ongoing expansion in various finished food product industries is also reflecting positively on the demand for edible oil. In addition to this, the rise in research and development activities to produce low fat oil with added nutrients, such as rice bran oil, is projected to boost this market substantially, over the forthcoming years. Besides, the growing preference for refined oil, on account of the increasing awareness level among consumers pertaining to health and fitness, is also anticipated to impact this market positively in the long run.

Rapeseed to Continue Witnessing High Demand

Sunflower, soybean, and rapeseed palm are the key products available in the global market for edible oil. Among these, rapeseed palm oil has been registering the most prominent demand. In 2015, the rapeseed palm segment accounted for a share of around 30% in the overall market, acquiring the lead in the global market, and is expected to remain dominant over the next few years.

Asia Pacific to Dominate Global Edible Oil Market

In terms of the geography, the global market for edible oil is mainly spread across Latin America, North America, Asia Pacific excluding Japan, Western and Eastern Europe, Japan, and the Middle East and Africa. Thanks to the growing consumption of edible oil, Asia Pacific has been leading the global market. This regional market is likely to acquire the leading position in this market over the forecast period. The rising population base in China and India is likely to present new growth opportunities for edible oil producers in Asia Pacific. The edible oil markets in Europe and North America are also expected to register a steady progression in the near future.

Strategic Partnerships for Regional Expansion

The business landscape in the global market for metal packaging is highly competitive, thanks to the presence of established players in a large number. Archer Daniels Midland Co., Beidahuang Group, Bunge Alimentos SA, Ach Food Companies Inc., Ruchi Soya, and Adani Group are some of the key players in the global market. These players are focusing on regional expansion through mergers, acquisitions, and strategic partnerships.

Edible Oil Market: Increasing Demand from Growing Population to Drive Growth

The global edible oil market is anticipated to witness a substantial growth owing to increasing popularity of unrefined, unprocessed, healthy, and organic oil. In the coming years, vegetable oils with low cholesterol, fat, and calories are likely to gain high response due to growing health awareness among people across the world. In addition, major improvement in retail network, increasing crop yields, oil production, and growing economies are some of the prominent factors supporting the growth of the global edible oil market. Furthermore, growing popularity of canola oil, trans-fat free soybean oil, and emerging preference for olive oil will drive the global market for edible oil.

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The report offers a comprehensive overview of the global edible oil market covering all the major factors such drivers, restraints and trends influencing the nature of the market. It also features profiles of the leading players present in the market along with details such as company overview, business strategies, trends adopted, and recent developments in the respective field.

The retail segment is expected to drive the sales of edible oils on account of strong supply chain of chain of edible oil products and established chain of retail outlets. Vegetable oil consumption has increased in developing countries due to increasing demand from growing population, surging retail sector, and rise in overall household income. Additionally, manufacturers of edible oils are adopting advanced processing technique to offer healthier and affordable oil. However, they lack in the production of edible oil in comparison with incoming demand.

Some of the key players operating in the global edible oil market include Archer Daniels Midland Company, Beidahuang Group, Ruchi Soya, Ach Food Companies Inc., Bunge Alimentos Sa, and Adani Group.

Edible Oil Market Driven by Increasing Demand from Growing Population & Rise in Overall Household Income

Global Edible Oil Market: Overview

The global edible oil market is anticipated to witness a substantial growth owing to increasing popularity of unrefined, unprocessed, healthy, and organic oil. In the coming years, vegetable oils with low cholesterol, fat, and calories are likely to gain high response due to growing health awareness among people across the world. In addition, major improvement in retail network, increasing crop yields, oil production, and growing economies are some of the prominent factors supporting the growth of the global edible oil market. Furthermore, growing popularity of canola oil, trans-fat free soybean oil, and emerging preference for olive oil will drive the global market for edible oil.

The report offers a comprehensive overview of the global edible oil market covering all the major factors such drivers, restraints and trends influencing the nature of the market. It also features profiles of the leading players present in the market along with details such as company overview, business strategies, trends adopted, and recent developments in the respective field.

Global Edible Oil Market: Drivers and Restraints

The retail segment is expected to drive the sales of edible oils on account of strong supply chain of chain of edible oil products and established chain of retail outlets. Vegetable oil consumption has increased in developing countries due to increasing demand from growing population, surging retail sector, and rise in overall household income. Additionally, manufacturers of edible oils are adopting advanced processing technique to offer healthier and affordable oil. However, they lack in the production of edible oil in comparison with incoming demand.

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Global Edible Oil Market: Segmentation

The market for edible oil can be segmented on the basis of type, end-users, and geography. In terms of type, the market can be classified into palm oil, canola oil, olive oil, sunflower oil, specialty blended oil, and corn oil. Increasing consumption of fried foods has significantly increased the demand for edible oils. Based on end-users, the marker for edible oil can be divided into food processor, food service, and retail. Improving living standards, changing dietary habits, and increasing consumer preference for healthy edible oil supporting the growth of the global edible oil market.

Geographically, the market for edible oil can segments into different regions such as Europe, the Middle East and Africa, Latin America, North America, and Asia Pacific. Developing countries such China and India are the major market for edible oil. China is one of the leading consumer of edible oil across the world followed by Europe.

Global Edible Oil Market: Competitive Landscape

Some of the key players operating in the global edible oil market include Archer Daniels Midland Company, Beidahuang Group, Ruchi Soya, Ach Food Companies Inc., Bunge Alimentos Sa, and Adani Group.

Immense Growth of Food Industry to Promote Expansion of Global Edible Oil Market

The global demand for edible oil is expected to shoot up, thanks to the popularity of healthier options made available by a number of leading market players. Registering a high CAGR over the forecast years between 2016 and 2024, the global market for edible oil will continue to expand, according to a study by Transparency Market Research (TMR). Edible or cooking oil can be animal, plant, or synthetic fat and is used in frying, roasting, baking, and several other forms of cooking.

Q. What are the major catalysts of the global market for edible oil?

Extensive research and development activities are being undertaken by a number of market players. The use of healthier, organic ingredients in the manufacturing of edible oils is promoting the growth of the global edible oil market. As the demand for olive oil, coconut oil, trans-fat-free soya bean oil, and canola oil from health-conscious customers is escalating, the market will gain traction. The boom in the food industry worldwide, growing economies, stronger retailing networks, increasing disposable incomes, improving crop yields, and changing preferences of consumers have led to a considerable increase in the production of oil on a global scale. All this is aiding the expansion of the market.

Q. Which regional markets promise greater growth opportunities?

Based on geography, the global market for edible oil has been segmented into the Middle East and Africa (MEA), Asia Pacific, Europe, and North America. The countries in Asia Pacific – such as China, Malaysia, India, Singapore, Japan, and Thailand – have been demanding vast quantities of edible oil to fulfill the growing needs of the ever-increasing population in these regions. The growing popularity of fried foods and convenience foods and rapid progress of the food and beverage industry in Asia Pacific has been responsible for the growing demand for edible oil. In North America, the US will account a major share in the global market for edible oil.

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Q. What are the recent developments in the global edible oil market?

The Government of India, in a recent notification issued by the Director General of Foreign Trade, announced the lifting of a nine-year ban on the export of edible oil. Soybean oil, groundnut oil, maze oil, and sesame oil can now be exported in any pack size. This is likely to have a massive impact on India as a contender in the edible oils market. The enhancement of nutrient content of edible oils is also being promoted by several food regulators in the country. For instance, the Food Safety and Standards Authority of India (FSSAI) urged all leading edible oil manufacturers and processors to fortify the products with vitamin A and D in March 2017. Developments such as these are sure to give this market a major boost.

Global Edible Oil Market: Rising Preference for Low Fat Oil Create New Growth Prospect, Says TMR

According to a new study by Transparency Market Research (TMR), the continued mushrooming of restaurants, eateries, and fast food joints across the world is the key factor behind the substantial growth of the global market for edible oil. The report, titled “Edible Oil Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2016–2024,” further states that the ongoing expansion in various finished food product industries is also reflecting positively on the demand for edible oil.

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In addition to this, the rise in research and development activities to produce low fat oil with added nutrients, such as rice bran oil, is projected to boost this market substantially, over the forthcoming years. Besides, the growing preference for refined oil, on account of the increasing awareness level among consumers pertaining to health and fitness, is also anticipated to impact this market positively in the long run, states the research report.

In this research study, the global market for edible oil has been analyzed on two fronts: The product, and the geography. On the basis of the product, the market has been segmented into sunflower, soybean, and rapeseed palm oil. Among these, rapeseed palm oil has been registering the most prominent demand and is expected to remain so during the forecast period. In 2015, this segment accounted for a share of around 30% in the overall market, states the research report.

On the geographical front, the report segments the global edible oil market into Asia Pacific, North America, Europe, and the Rest of the World. Thanks to the growing consumption of edible oil, Asia Pacific is likely to acquire the leading position in this market over the forecast period. The rising population base in China and India is likely to present new growth opportunities for edible oil producers in Asia Pacific. The edible oil markets in Europe and North America are also expected to register a steady progression in the near future, notes the market study.

Further, the research report provides a competitive analysis of the business landscape of the global edible market by profiling the key companies operating in this market. According to the study, the market is highly fragmented and the leading companies are focusing aggressively on product innovation and upgradation in their current offerings. Archer Daniels Midland Co., Ruchi soya, Ach Food Companies Inc., Beidahuang Group, The Adani Group, and Bunge Alimentos SA are some of the leading producers of edible oil across the world, reports the research study.

Global Edible Oil Market is Expected to Witness Significant Growth in 2016-2024

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).

Rising Demand for Food Products to Create New Growth Prospect of Global Edible Oil Market, Reports TMR

A new study by Transparency Market Research (TMR) presents a complete overview of the market for global edible oil by evaluating its driving forces, limitations, market trends, opportunities, and growth prospects. The report, titled “In-store Health Clinics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024,” states that the rising demand food products, owing to the surge in the global population, is the key driving force behind the remarkable growth in the demand for edible oil across the world.

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The continual increase in the count of fast food joints and restaurants and the substantial growth in various finished food product industries have also added significantly to this growing demand in the recent times. Over the next few years, the increasing research and development activities, leading to the production of oil with low fat content and additional nutrients, such as rice bran oil, is expected to propel the worldwide market for edible oil substantially. Apart from this, the increasing preference for refined oil, thanks to the growing awareness regarding health and fitness, is also projected to influence this market positively in the long run, notes the research study.

The report studies the global market for edible oil on the basis of product and the geographical spread. Based on product, the market has been categorized into soybean, rapeseed palm oil, and sunflower. Among these, palm oil is the most preferred edible oil across the world, accounting for a share of nearly 30% in the overall market.

Geographically, the research study has segmented the worldwide market for edible oil into Asia Pacific, Europe, North America, and the Rest of the World. Asia Pacific is projected to emerge as the most promising market for edible oil over the next few years. The consumption of edible oil is predicted to increase remarkably in this region due to the growing population in China and India, creating new growth opportunities for manufacturers. China is likely to lead in terms of vegetable oil consumption, trailed by Europe, states the report.

The research report also evaluates the competitive landscape of the global market for edible oil in order to identify the prevalent market hierarchy. According to the report, the leading producers of edible oil, globally, are focusing aggressively on product innovation and advancement in current offerings. Archer Daniels Midland Co., Bunge Alimentos SA, Ach Food Companies Inc., Ruchi soya, Beidahuang Group, and The Adani Group are the key producers of edible oil mentioned in this study.

Edible Oil Market Research Report, 2016-2024: Latest Market Overview, Size, Share and Forecast 2024

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.