Edible Oils Market to Grow with a CAGR of 4.8% Globally through to 2028

Increasing global population and urbanization, changing dietary habits, with consumers demanding healthier and more nutritious foods are factors driving the global edible oils market in the forecast period 2024-2028.

 

According to TechSci Research report, “Global Edible Oils Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Edible Oils Market stood at USD 210.3 billion in 2022 and is anticipated to grow with a CAGR of 4.8% in the forecast period, 2024-2028. The edible oils market is a dynamic and ever-evolving sector that plays a crucial role in the global food industry. Edible oils are fundamental ingredients used in cooking, baking, frying, and various food preparations. The market for edible oils has undergone significant changes in recent years, driven by shifting consumer preferences, health consciousness, sustainability concerns, and technological advancements.

The global edible oils market is vast and diverse, encompassing a wide range of oils derived from various sources. Some of the most commonly used edible oils include vegetable oil, olive oil, palm oil, soybean oil, sunflower oil, and coconut oil. These oils are used in both household and industrial cooking and food processing.

Consumers are increasingly seeking healthier and more diverse cooking and food options. This has led to a shift away from traditional animal fats towards plant-based oils, driven by concerns about health and sustainability. The growing awareness of the link between diet and health has prompted consumers to choose oils that offer specific health benefits. Oils rich in monounsaturated and polyunsaturated fats, such as olive oil and canola oil, have gained popularity for their heart-healthy properties. Environmental concerns, especially related to deforestation and habitat destruction for palm oil production, have led to a demand for sustainably sourced and certified oils. Initiatives like the Roundtable on Sustainable Palm Oil (RSPO) aim to address these issues. Consumers are increasingly seeking transparency in food labeling and a desire for minimally processed oils with no additives. Cold-pressed and expeller-pressed oils, which retain more natural flavors and nutrients, are favored. Advances in oil extraction techniques, such as supercritical fluid extraction (SFE) and nanotechnology, have improved the efficiency and quality of oil production.

Advances in oil extraction techniques, such as supercritical fluid extraction (SFE) and nanotechnology, have improved the efficiency and quality of oil production. The rise of plant-based diets and the demand for sustainable options have led to a shift towards plant-based oils like avocado oil, grapeseed oil, and oils used in plant-based meat alternatives. There is an increasing focus on responsible farming practices, deforestation-free sourcing, and fair trade in the production of edible oils to address sustainability concerns. Specialty oils like truffle oil, walnut oil, and sesame oil are in demand as consumers seek unique flavor profiles to enhance their culinary experiences. Consumers prefer oils with minimal processing and clear labelling to know the source and production methods of their oils. The trend of personalized nutrition has led to customized oil blends and flavor-infused oils, catering to individual dietary preferences. Advancements in oil extraction methods, such as supercritical fluid extraction and nanoemulsion, are improving the quality and functionality of edible oils.

 

Browse over 26 market data Figures spread through 186 Pages and an in-depth TOC on "Edible Oils Market”

 

The Global Edible Oils Market is segmented into type, nature, end user, regional distribution, and company.

Based on type, the palm oil category is expected to hold a significant share of the global edible oils market in 2022. Due to its high smoke point, it can be used in various cooking methods, such as baking, frying, and roasting. It is a highly refined oil that is strong in omega-3 lipids.

Based on region, North America is expected to dominate the edible oils market in terms of revenue and market share due to the growing adoption of edible oil in the beauty and cosmetic product industry in this region. Furthermore, the presence of major market players in edible oils in the U.S. and Canada will further boost the market growth in this region. Asia-Pacific is expected to be the fastest developing region during the forecast period due to growing health concerns among consumers as a nutritional supplement in developed countries of this region. Moreover, China is one of the leading consumers of edible oil worldwide.

 

Major companies operating in Global Edible Oils Market are:

• Bunge Limited
• Cargill, Incorporated
• ACH Food Companies, Inc.
• Adani Group
• Salad Oils International Corporation 
• American Vegetable Oils, Inc.
• Borges International Group, S.L.
• Hebany Group
• Titan Oils Inc.
• Sunora Foods

 

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“The edible oils market has experienced remarkable growth in recent years. This expansion can be attributed to several factors, including changing dietary preferences, increased awareness of health-conscious cooking, and a growing global population. Consumers are increasingly opting for healthier, plant-based oils and specialty options, driving innovation in the industry. Sustainability concerns have also influenced market dynamics, pushing for responsible sourcing practices. Advances in oil extraction technology have further improved product quality and diversity. As the edible oils market continues to evolve, it remains a pivotal player in the global food industry, offering a wide array of choices to meet consumers' varied needs.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Edible Oils Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Palm Oil, Soybean Oil, Rapeseed Oil, Sunflower Oil, Peanut Oil, Olive Oil, Corn Oil, Flaxseed Oil, Avocado Oil, Pumpkin Seed Oil, Others), By Nature (Organic, Conventional), By End User (Domestics, Industrial, Food Service, Others), By Region, By Competition, 2018-2028”, has evaluated the future growth potential of Global Edible Oils Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Edible Oils Market.

 

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