New York, United States , May 03, 2023 (GLOBE NEWSWIRE) -- The Global Edible Oils Market Size is to grow from USD 209.1 billion in 2022 to USD 316.5 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.2% during the projected period. The global edible oils market presents significant opportunities for businesses looking to enter or expand in the market, driven by factors such as increasing consumer demand, changing dietary habits, and government regulations. However, challenges such as increasing competition, fluctuating raw material prices, and supply chain disruptions may also impact the growth of the market.
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The global edible oils market is a large and diverse market that includes several types of oils, including palm, soybean, sunflower, olive, and coconut oil, among others. The market is driven by several factors, including increasing population, rising disposable incomes, changing dietary habits, and growing health concerns. The demand for healthier food products, including vegetable oils, is increasing as consumers seek healthier alternatives to traditional cooking oils. Moreover, the growing demand for organic and non-GMO food products, including edible oils, is driven by the increasing awareness of the health and environmental benefits of consuming such products. The global edible oils market is highly competitive, with several large players and small-scale manufacturers offering a wide range of edible oil products. Moreover, government regulations and labeling requirements play a crucial role in the global edible oils market, with several countries implementing policies to promote the production and consumption of healthy oils and mandatory nutritional labeling. With rising health and wellness concerns, consumers are looking for food products that are perceived to be healthier, such as cooking oils. This trend is fueling demand for edible oils high in beneficial nutrients and low in harmful chemicals. However, edible oil prices are volatile due to a variety of factors such as weather patterns, crop yields, and geopolitical tensions. This volatility can make cost management difficult for manufacturers and retailers, as well as impact the affordability of these products for consumers.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Edible Oils Market Size, Share, and COVID-19 Impact Analysis, By Type (Sunflower Oil, Palm Oil, Soybean Oil, Rapeseed Oil, Olive Oil), By Packaging Type (Cans, Pouches, Jars, and Bottles), By End Use (Food Service, Domestic, and Industrial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here
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The palm oil segment is estimated to hold the largest share of the global edible oils market over the period of study.
The global edible oils market is divided into five types: sunflower oil, palm oil, soybean oil, rapeseed oil, and olive oil. Among these, the palm oil segment is expected to have the largest share of the global edible oils market during the study period. The reason for the increase is its widespread use in the food industry and its low cost. Palm oil is a type of edible oil that is widely used in the food industry due to its high melting point and high temperature stability.
The bottle segment is expected to hold the largest share of the global edible oils market during the forecast period.
The global edible oils market is divided into cans, pouches, jars, and bottles based on packaging type. The bottle segment is expected to account for the majority of the global edible oils market during the forecast period. The versatility and consumer popularity for daily use in cooking, baking, and finishing oils can be attributed to the growth. Bottles are typically used for oils that are used in small quantities or as finishing oil. They have a shorter shelf life than cans or jars but are more durable than pouches.
The domestic segment is anticipated to hold the largest share of the global edible oils market over the projected period.
The global edible oils market is divided into three segments based on end use: food service, domestic, and industrial. Over the forecast period, the domestic segment is expected to hold the largest share of the global edible oils market. Consumer preferences for healthier and natural oils, as well as convenience and affordability, drive the domestic segment. Domestic oils are used in a wide range of cooking and baking applications, including frying, roasting, and salad dressings.
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Asia Pacific is estimated to hold the largest share of the global edible oil market during the predicted timeframe.
Asia Pacific is the most essential regional segment in the global edible oils market, accounting for a sizable share of the total market. The region's dominance can be attributed to the region's large population and rising disposable income, which has resulted in an increase in demand for edible oils. India and China are major consumers of edible oils, and their growing populations and changing lifestyles have resulted in an increase in demand for edible oils. During the forecast period, North America is expected to grow at the fastest CAGR in the global edible oil market. Countries such as the United States, Canada, and Mexico are major regional segments in the global edible oils market. The region has a well-established edible oil market, with high consumer awareness of the health benefits and culinary applications of various types of oils. The Food and Drug Administration (FDA) in the United States has established standards for the labeling of edible oils, including mandatory nutritional labeling, which assists consumers in making informed purchasing decisions.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Edible Oils Market include Associated British Foods PLC, Archer Daniels Midland Company, Louis Dreyfus Company, Bunge Limited, The Adams Group Inc., American Vegetable Oils, Inc., COFCO, Emami Agrotech Ltd., Richardson International Limited, Adani Wilmar Limited, Sime Darby Plantation Berhad, Cargill, Incorporated, Wilmar International Limited, Borges International Group, S.L.U., and Others.
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