WASHINGTON, Feb. 14, 2022 (GLOBE NEWSWIRE) -- Vegetable Oil plays a vital role in diet and provides essential nutrients for healthy metabolism of body. It contains polyunsaturated, and monounsaturated fats, along with saturated fats though in different proportions. They help lower bad cholesterol levels (LDL) and reduce the risk of cardiovascular diseases thus improving cardio protective properties. Due to these advantages vegetable oil is expected to generate revenue in coming years, states Vantage Market Research, in a report, titled “Vegetable Oil Market by Type (Palm Oil, Soyabean Oil, Rapeseed Oil, Sunflower Oil), by Packaging Type (Cans, Bottles, Pouches, Others), by Application (Food, Feed, Industrial), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”. The market size stood at USD 2.52 Billion in 2021.
The Global Vegetable Oil Market size is expected to reach USD 3.73 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 9.5% during the forecast period.
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List of Prominent Players in the Vegetable Oil Market:
- Wilmar International Limited (Singapore)
- Conagra Brands Inc. (US)
- The Manischewitz Company (US)
- The J.M. Smucker Co. (US)
- Waitrose & Partners (UK)
- IFFCO (India)
- Woolworths Group Limited (UK)
- Unico (US)
- Marico Limited (India)
- Edible Oils Ltd. (US)
- Adani Wilmar Limited (India), and Cargill (US)
The report on Vegetable Oil Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Value Chain Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Porter’s Five Forces Analysis
- Global and Regional Dynamics
Market Overview:
Increasing Demand of Vegetable Oil in Food Processing Industry is Expected to Drive the Market.
Currently vegetable oil is considered major source of raw material in food processing industry. Use of vegetable oil in food industry has replaced the use of around 15-20% of animal fat which has benefited the food processing industry and also has gained popularity in vegetarian food products on a larger scale. Most of the vegetable oils are unstable during cooking and hence need to be treated. Use of chemicals can turn this effect and can be used in food manufacturing. For instance, Partial hydrogenation is frequently used to improve the flavour and oxidative stability of vegetable oils by reducing the content of the highly unsaturated linoleic and linoleic acids. These are some of the benefits of vegetable oil that are used in food processing and hence driving the growth of the market.
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High Cost of Manufacturing is the Major Restraining Factor the Vegetable Oil Market
Vegetable Oils are considered to be expensive as they require maximum time in processing and extraction. The production process of vegetable oil involves the removal of oil from plant components, typically seeds. This can be done via mechanical extraction using an oil mill or chemical extraction using a solvent. The extracted oil can then be purified and, if required, refined or chemically altered. Refining of vegetable oil is also considered to be very expensive as high amount of energy and labour cost are required. Due to these points manufacturing costs increases which are considered a major restraining factor for Vegetable Oil Market.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. The Vegetable Oil Market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. Moreover, lower raw material supply further affected the demand vegetable oil processing across the globe. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Region 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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Regional Analysis:
Increasing Growth of Vegetable Oil Market in Asia Pacific
Asia Pacific is expected to dominate the Global Vegetable Oil Market in 2021 and is likely to continue the same trend during the forecast period. Oilseed crops are the second most important determinant of agricultural economy in this region. Due to abundant supply of fresh oilseed and favourable climatic conditions are boosting the growth of Vegetable Oil Market in this region. Majority of the population are directly or indirectly dependent on vegetable oil, for example vegetable oil is not only used in cooking and food processing but also used in health care facilities as a major recovery medicine. These are some of the benefits which are increasing the trend of vegetable oil in this region.
Browse market data Tables and Figures spread through 169 Pages and in-depth TOC on "Vegetable Oil Market by Type (Palm Oil, Soyabean Oil, Rapeseed Oil, Sunflower Oil), by Packaging Type (Cans, Bottles, Pouches, Others), by Application (Food, Feed, Industrial), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/vegetable-oil-market-716763
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Vegetable Oil Market?
- How will the Vegetable Oil Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Vegetable Oil Market?
- What is the Vegetable Oil market drivers and restrictions?
- What will be the CAGR and size of the Vegetable Oil Market throughout the forecast period?
This market titled “Vegetable Oil Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 2.52 Billion |
| Projected Market Size in 2028 | USD 3.73 Billion |
| CAGR Growth Rate | CAGR of 9.5% From 2022 - 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Type
|
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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