Global Edible Oil Market is Expected to Witness Significant Growth in 2016-2024
Edible oil is derived from fruits and vegetables. It is used in cooking a number of dishes. Among the various types of vegetable oil available commercially, soybean, palm, rapeseed, and sunflower oils are popular among consumers. The global edible oil market is expected to witness significant growth in the coming years on account of the rising popularity of unrefined, unprocessed, healthy, and organic vegetable oils. Vegetable oils that are low in fat, cholesterol, and calories are expected to register high growth owing to the growing health consciousness among people across the globe.
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The report covers the forecast and analysis of the edible oil market on the global as well as regional level. It gives a forecast based on both volume and revenue. The drivers and restraints for the market as well as the impact they have on the demand for edible oil over the forecast period from 2016 to 2024 are also included. Additionally, the report comprises a study of trends and opportunities in the market. The competitive landscape of the market along with an analysis of Porter’s five forces model is presented. The market attractiveness analysis, growth rate, and market size are also given in the study.
Edible Oil Market: Trends and Opportunities
The increasing research and development initiatives taken by players operating in the global edible oil market have resulted in the strong growth and expansion of the industry. The extensive R&D has resulted in a broad range of edible oils at reasonable price points, tastes, and textures. Innovation, healthier ingredients, and new flavors will thus, result in market’s growth. Trans-fat free soybean oil, growing popularity of olive oil, and emerging preference for canola oil from the food industry will drive the market in the coming years. Developing markets offer higher growth potential in the edible oil market.
Other factors driving the market’s growth include improvement in retailing network, growing economies, increasing crop yields, and oil production. Changes in the composition of vegetable oil, consumption of different varieties of oil, and changing preferences of consumers as per health requirements are also aiding the growth of the market.
Edible Oil Market: Region-wise Outlook
The global edible oil market is segmented on the basis of geography into Asia Pacific, North America, Europe, and the Middle East and Africa. Of these, the consumption of edible oil is rising steadily in Asia Pacific, with China being the key consumer of vegetable oil. The densely populated country also produces a sizeable volume of edible oil every year. Europe follows China in terms of consumption volume of edible oil.
Key Players Mentioned in the Report
The global edible oil market is fragmented with high number of players and varying oil preferences in different parts of the world. Key players profiled in the report are: Ruchi soya, The Adani Group (Fortune Oil), Ach Food Companies Inc., Beidahuang Group, Archer Daniels Midland Company, and Bunge Alimentos Sa (Brazil).