Dublin, May 20, 2022 (GLOBE NEWSWIRE) -- The "Vegetable Oils - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Vegetable Oils Market to Reach 258.4 Million Metric Tons by the Year 2026
Amid the COVID-19 crisis, the global market for Vegetable Oils estimated at 199.1 Million Metric Tons in the year 2020, is projected to reach a revised size of 258.4 Million Metric Tons by 2026, growing at a CAGR of 4.4% over the analysis period. Palm, one of the segments analyzed in the report, is projected to grow at a 5.2% CAGR to reach 101.8 Million Metric Tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Soybean segment is readjusted to a revised 4.5% CAGR for the next 7-year period.
This segment currently accounts for a 29.6% share of the global Vegetable Oils market. In developing countries since the price remains the key factor influencing purchasing decisions, palm oil is witnessing a significant spurt in demand both because of its cost effectiveness and widespread availability. Rising applications in the processed foods industry due to its good emulsifying ability and neutral flavor are benefitting the market for soybean oil.
The U.S. Market is Estimated at 17.5 Million Metric Tons in 2021, While China is Forecast to Reach 55.1 Million Metric Tons by 2026
The Vegetable Oils market in the U.S. is estimated at 17.5 Million Metric Tons in the year 2021. The country currently accounts for a 8.28% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of 55.1 Million Metric Tons in the year 2026 trailing a CAGR of 5.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR while Rest of European market (as defined in the study) will reach 57.9 Million Metric Tons by the end of the analysis period.
In North America, vegetable oils consumption is high in the production of biofuels and also in the manufacture of bio-based products. Consumer awareness about environmental impact of products that are petrochemicals-derived is high in the market. This strengthens demand for vegetable oils. In Europe, rapeseed oil is the most consumed vegetable oil primarily because it is abundantly produced in the region. Rapeseed oil is widely used in food, animal feed and biodiesel industries. Large population, urban sprawl, growing demand for biodiesel and other non-food uses such as oleo-chemical usage, and large volumes of palm oil production in Indonesia and Malaysia are key growth drivers in Asian vegetable oils market.
Canola Segment to Reach 38.8 Million Metric Tons by 2026
Oilseed rape (canola) produces high value vegetable oil, has a healthier composition of unsaturated fats, can be grown in crop rotation with corn or wheat and supports environmentally sustainable farming. Although production of Canola seeds is less in the US, consumption is strong. In the global Canola segment, USA, Canada, Japan, China and Europe will drive the 3.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of 22.4 Million Metric Tons in the year 2020 will reach a projected size of 28.2 Million Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 8.1 Million Metric Tons by the year 2026, while Latin America will expand at a 6% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Food Industry: Most Important Application Market for Vegetable Oils
- Growing Preference for Healthy, Organic & Unprocessed Cooking Oils
- Growing Awareness about Saturated Fatty Acids & Omega-6 in Vegetable Oils
- Fatty Acid Profiles of Major Cooking Oils - Butter, Olive, Coconut, Palm, Safflower, Corn, Soybean, and Canola
- Growing Health Consciousness & Demand for Convenience Foods
- Rise of the Vegetarianism & Customization to Local Tastes
- Increasing Product Diversity & Broad Range of New Options
- Vegetable Oil Companies Offering more Healthful Options amid the Pandemic
- Biofuels: The New Growth Avenue for Vegetable Oils
- Global Biodiesel Production (Million Tons): 2013, 2015, 2017, 2019 & 2021
- Global Biofuels (Fuel Ethanol and Biodiesel) Market by Product Type (2021): Percentage Breakdown of Volume Consumption for Biodiesel and Fuel Ethanol
- Global Biofuels Production by Region/Country (1995-2025): Breakdown of Volume Production (Million barrels per day of oil equivalent) for Brazil, EU, United States, and Others
- Average Biofuel Yields of First Generation Feedstock
- Favorable Blend Mandates Set to Enhance Vegetable Oil Demand in Biofuel Sector
- Vegetable Oils Aim to Widen Role in Industrial Applications
- Established Role of Vegetable Oils in Personal Care Applications
- Palm Oil: Largest & Fastest Growing Product Segment
- Global Per Capita Palm Oil Consumption (Kilograms) for Major Countries: 2016 & 2020
- Diverse Food and Non-Food Applications Lend Traction to Market Demand
- Breakdown of Palm Oil Volume Consumption (in %) in Food and Non-Food Sectors (2010 & 2020)
- RSPO's Novel Initiatives Aim to Resolve Biodiversity & Sustainability Issues Prevalent in Palm Oil Industry
- Leading Producers of Palm Oil Worldwide: Approximate Percentage Share of Production of RSPO
- Increasing R&D Emphasis Elevates Prospects of Soybean Oil against Competing Oils
- New Generation Soya Bean Oil Formulations Come to the Fore
- Rising Adoption in Food Service Sector Boosts Uptake of Canola Oil
- Robust Image of Sunflower Oil as a Healthy Alternative to TFAs Spurs Demand
- Backed by Incredible Nutritional Benefits, Coconut Oil to Sustain Momentum
- Despite Being the Most Expensive of All Vegetable Oils, Olive Oil Continues to Experience High Demand
- Health and Environmental Benefits Promote Demand for Maize Oil
- Demographic Trends Strongly Favor Future Growth in World Vegetable Oil Market
- Growing Population
- World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
- Urban Sprawl
- World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050P
- Large Middle Class Segment
- Global Middle Class Population (in Millions) and as a Percentage of Total Population: 2005, 2015, 2025 & 2035
- Despite Challenges, Global Vegetable Oil Refining Offers Lucrative Opportunities
- Innovations & Research Findings Strengthen Market Prospects
- Steady Proliferation of Technology for Boosting Oilseed & Vegetable Oil Output
- R&D Efforts Enable the Launch of Zero Trans-Fats Oils
- Ohio State University Study Reveals Potential Heart Health & Lowered Diabetes Risk Benefits of Vegetable Oils with High Linoleic Acid Levels
- Italian Researchers Identify Positive Effects of Extra Virgin Olive Oil on Meat Lipids Digestion
- Cargill & BASF Develop Canola Oil with Beneficial Omega-3 EPA and DHA
- Dow Rolls Out Omega-9 Sunflower Oil for Food Applications
- Steep Rise in Prices Emerges as a Major Challenge
- Rising Concerns Over GMO Contamination: A Major Issue
- Oils Derived from Non-Traditional Sources: An Emerging Threat
- Vegetable Oils: An Evolutionary Scan
- Chemical & Physical Properties of Vegetable Oils
- Vegetable Oils: Product Classification
- Edible Vegetable Oils: Production Process
- Processing Methods
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
Companies Mentioned
- AarhusKarlshamn (AAK AB)
- Aceites Borges Pont S.A.
- ACH Food Companies, Inc.
- Mazola Oils
- Archer Daniels Midland Company
- Avena Nordic Grain Oy
- Avril Group
- Bunge Limited
- Bunge North America, Inc.
- Bunge Loders Croklaan Group BV
- C. Thywissen GmbH
- Cargill Incorporated
- COFCO Corporation
- Deoleo, S.A.
- Carapelli Firenze S.p.A.
- Corteva Agriscience
- Golden Agri-Resources Ltd.
- PT Smart Tbk
- IOI Group Berhad
- J-Oil Mills, Inc.
- Marico Limited
- PT Astra Agro Lestari Tbk
- P. T. Musim Mas
- Richardson Oilseed Limited
- Royal Smilde Foods
- Sime Darby Plantation Sdn Bhd
- Sovena Group
- The J. M. Smucker Company
- The Nisshin OilliO Group, Ltd.
- Ventura Foods, LLC
- Wilmar International Limited
- Adani Wilmar Limited (AWL)
For more information about this report visit https://www.researchandmarkets.com/r/rviin1
