Global Vegetable Oil Market - Growth, Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Food & Beverages | No. of Pages - 161 | Published By - Mordor Intelligence

Report Highlights

The global vegetable oil market was estimated to be USD XX billion in 2016 and expected to reach USD XX billion by 2021 at a CAGR of XX% during the forecasted period 2016-2020.

Global Vegetable Oil Market Dynamics

Increasing demand for edible oils in developing countries like China and India, due to improving economies and population growth majorly drives growth in vegetable oil consumption. Demand for vegetable oils in the biofuel feedstock, rising health concerns on trans-fat, increasing consumption in the Asia-Pacific region and a robust demand for palm oil globally are also major contributors to the market. However, the growing volume presence of counterfeit markets and growing concerns over environmental impacts of palm logging are hindering the market growth.

Global Vegetable Oil Market Segmentation

The vegetable oils market is segmented into palm oil, soybean oil, rapeseed oil, sunflower oil, peanut oil, olive oil and others like mustard oil, coconut oil, corn and cotton seed oil. Palm oil and soybean oil hold 32% and 28% market share respectively. Olive oil and rapeseed oil are the fastest growing due to rising demand for weight management and low-calorie oils. The major applications of the market are in the food, feed and industrial sectors.

The food sector dominates the market with over 75% of the market share followed by the industrial sector.

The market has also been geographically segmented into North America, Europe, Asia-Pacific, South America and Africa.   Asia-Pacific is the major market for vegetable oils and is expected to continue its dominance over the next few years, due to huge demand from the food sector, increasing health conscious consumers, rising population, and changing living standards. Europe is the second largest market due to the trend towards healthier lifestyles and technological developments.

Leaders in the Global Vegetable Oil Market

The major players in the market are Archer Daniels Midland Company, ACH Food Companies, Bunge North America Ltd., Beidahuang Group, Richardson Oilseed Limited, Carapelli Firenze S.P.A, Cargill Incorporated, ConAgra Foods Inc., COFCO Limited, Chinatex Corporation, Deoloe, Dow Agro-Sciences LLC, Du Pont, Golden Agri resources, J-oils Mills Inc., IOI Group Berhad, Marico limited, Astra Agro Lestari Tbk, Sime Darby Sdn Berhad, United Plantations Berhad, Wilmar International Limited, Yihai Kerry Investment Co. Ltd.  

 

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