The global Vegetable Oil market reached a value of about USD 178.9 billion in 2021. The industry is projected to grow at a CAGR of around 4.8% in the forecast period of 2022-2027 to reach a value of about USD 237 billion by 2027.
The global Vegetable Oil industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The growing vegetable oil consumption in households, especially in emerging economies, is driving the market's expansion. The Asia Pacific and North America are the highest category spender by region, driving the demand for the Vegetable Oil industry.
Oils produced from seeds or, less frequently, other portions of fruits are known as vegetable oils. Plant seeds like palm, sunflower, mustard, and numerous others are used to extract vegetable oils. Triglycerides of fatty acids, esters of glycerol, and chemically known as fat make up vegetable oils. The Vegetable Oil industry report comprises segments by Oil Type (Palm Oil, Soybean Oil, Canola Oil, Sunflower Oil, Coconut Oil, Palm Kernel Oil, Others), Application (Food Industry, Biofuels, Others), and Region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).
The Asia Pacific and North America are regions holding the largest market share. The oils are widely used in biofuel generation and manufacturing bio-based goods in North America, which drives the market. Also, the growing demand for biodiesel, other non-food applications like oleo-chemicals, and vast volumes of palm oil production in Indonesia and Malaysia, are significant growth drivers in the Asian vegetable oils market. The development of oilseed agriculture and a rise in imports, particularly palm oil, from Indonesia and Malaysia likely aid the market's expansion.
The industry is propelled by the increased per capita incomes in emerging nations. The growing usage in food applications, particularly in emerging markets, supported the worldwide market expansion. Vegetable oil consumption is rising in emerging economies like China and India, driving the worldwide market. In addition, the growing health consciousness and desire for organic health-based goods drive up demand for vegetable oil derived from margarine and propels the market forward. Other factors like rising population, changing diets, and improving living standards further boost the market's expansion.
The global Vegetable Oil industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Vegetable Oil regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Mechanical extraction, or crushing/pressing, can be used to extract oils. Before being processed into oil, seeds and nuts must be cleansed and cleared of foreign matter. They'll be deskinned and then crushed up by rollers or hammer mills to enhance the surface area that will be pressed after being run through magnets to remove any metal traces. The nuts and seeds are heated after being crushed to aid in the extraction of the oil. The heat-treated nut/seed meal is put into a press that gradually builds pressure. The oil is extracted from the food and falls through the press's holes. Most oil seeds will be crushed and solvent-treated to extract as much fat as feasible. The oil is refined to eliminate natural colours, odours, and bitterness after all traces of solvents have been removed. In the first step of the refining process, the oil is heated to 85°C and mixed with an alkaline material. The oil is ready to be packed once it has been adequately processed.
The industry is witnessing demand due to the availability of a wide range of consumer choices. The many variations of the products, including Soybean oil and palm oil, are furthering the market's potential according to consumer preference. The use of vegetable oil in fuel production, culinary, soap and perfume formulations, and other industries is augmenting the market's growth. Furthermore, since vegetable oils are employed as an alternative energy source in the automotive and aerospace sectors, the need for biodiesel is expanding. Furthermore, rising government efforts and increased research and development activities in the food and beverage industry are expected to boost overall market demand.
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The market is competitive, with product developments, collaborations, expansions, and mergers and acquisitions among the primary strategies employed by the industry's top competitors. Players in the Vegetable Oil Market use a variety of strategies, including product launches, acquisitions, cooperation, joint ventures, and regional growth. The market's leading companies have a wide geographic presence and diverse product portfolios to meet a wide range of customer needs. This feature aids the firms in retaining a solid market position. Various manufacturers are supplying vegetable oil products for usage in multiple applications such as cooking, fuel generation, and so on, fueling the Vegetable Oil Market's expansion.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global Vegetable Oil Market Analysis
8.1 Key Industry Highlights
8.2 Global Vegetable Oil Historical Market (2017-2021)
8.3 Global Vegetable Oil Market Forecast (2022-2027)
8.4 Global Vegetable Oil Market by Type
8.4.1 Palm Oil
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2017-2021)
220.127.116.11 Forecast Trend (2022-2027)
8.4.2 Soybean Oil
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2017-2021)
126.96.36.199 Forecast Trend (2022-2027)
8.4.3 Canola Oil
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2017-2021)
220.127.116.11 Forecast Trend (2022-2027)
8.4.4 Sunflower Oil
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2017-2021)
126.96.36.199 Forecast Trend (2022-2027)
8.4.5 Coconut Oil
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2017-2021)
220.127.116.11 Forecast Trend (2022-2027)
8.4.6 Rapeseed Oil
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2017-2021)
126.96.36.199 Forecast Trend (2022-2027)
8.5 Global Vegetable Oil Market by End Use
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2017-2021)
220.127.116.11 Forecast Trend (2022-2027)
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2017-2021)
126.96.36.199 Forecast Trend (2022-2027)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2017-2021)
220.127.116.11 Forecast Trend (2022-2027)
8.6 Global Pasta Market by Region
8.6.1 Market Share
18.104.22.168 North America
22.214.171.124 Asia Pacific
126.96.36.199 Latin America
188.8.131.52 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
184.108.40.206 United States
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
220.127.116.11 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
18.104.22.168 Saudi Arabia
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis
12.1 Major Exporting Countries
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Price Analysis
13.1 North America Historical Price Trends (2017-2021) and Forecast (2022-2027)
13.1.1 Palm Oil
13.1.2 Soybean Oil
13.1.3 Canola Oil
13.1.4 Sunflower Oil
13.1.5 Coconut Oil
13.1.6 Rapeseed Oil
13.2 Europe Historical Price Trends (2017-2021) and Forecast (2022-2027)
13.2.1 Palm Oil
13.2.2 Soybean Oil
13.2.3 Canola Oil
13.2.4 Sunflower Oil
13.2.5 Coconut Oil
13.2.6 Rapeseed Oil
13.3 Asia Pacific Historical Price Trends (2017-2021) and Forecast (2022-2027)
13.3.1 Palm Oil
13.3.2 Soybean Oil
13.3.3 Canola Oil
13.3.4 Sunflower Oil
13.3.5 Coconut Oil
13.3.6 Rapeseed Oil
13.4 Latin America Historical Price Trends (2017-2021) and Forecast (2022-2027)
13.4.1 Palm Oil
13.4.2 Soybean Oil
13.4.3 Canola Oil
13.4.4 Sunflower Oil
13.4.5 Coconut Oil
13.4.6 Rapeseed Oil
13.5 Middle East & Africa Historical Price Trends (2017-2021) and Forecast (2022-2027)
13.5.1 Palm Oil
13.5.2 Soybean Oil
13.5.3 Canola Oil
13.5.4 Sunflower Oil
13.5.5 Coconut Oil
13.5.6 Rapeseed Oil
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Archer Daniels Midland Company
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
14.2.2 Cargill Inc.
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
14.2.3 Bunge Ltd.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
14.2.4 Wilmar International Ltd.
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
14.2.5 Louis Dreyfus Company B.V.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
15 Industry Events and Developments
The global Vegetable Oil market size was valued at USD 178.9 billion in 2021.
In the forecast period of 2022-2027, the market is projected to grow at a CAGR of 4.8%.
The significant demand for the product in various industries is one of the essential drivers of the Vegetable Oil market growth.
Bunge Limited, ADM, Cargill, Incorporated, Wilmar International Ltd., Louis Dreyfus Company, and Others are some of the major companies in the market.
The Asia Pacific and North America region of the Vegetable Oil industry holds a significant share in the market.
The global Vegetable Oil market attained a value of USD 178.9 billion in 2021, driven by the increased per capita incomes in emerging nations. Other factors like rising population, changing diets, and improving living standards further boost the market's expansion. Aided by the availability of a wide range of choices for consumers, including Soybean oil and palm oil, among others, according to consumer preference, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 4.8%. The market is projected to reach USD 237 billion by 2027. Some of the leading players in the industry are Bunge Limited, ADM, Cargill, Incorporated, Wilmar International Ltd., Louis Dreyfus Company, and Others.
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