According to IMARC Group’s latest report, titled “Vegetable Oil (Palm Oil, Canola Oil, Coconut Oil and Soybean Oil) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global vegetable oil market size reached US$ 241.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 324.1 Billion by 2027, exhibiting a growth rate (CAGR) of 4.92% during 2022-2027.
Vegetable oils are pulled from the
nuts, seeds, and fruits of various plants. They provide essential nutrients,
such as omega-3 and omega-6 fatty acids, and vitamins E, A, and B1. Vegetable
oils are commonly utilized as an alternative to petrochemicals and animal-based
fats in food and non-food applications. They are used in the production of
cosmetics, bactericides, and pharmaceuticals. Vegetable oils also offer several
health benefits, including lowering cholesterol levels, reducing the risk of
cardiovascular diseases, improving metabolism and digestion, etc. As a result,
these lubricants find widespread applications in biofuels and the food and
beverage (F&B) sector across the globe.
COVID-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Vegetable Oil Market Trends:
The elevating product demand in the production
of fuels, culinary soaps, and perfume formulations is among the primary factors
driving the vegetable oil market. Besides this, the rising awareness among
individuals towards the health benefits of consuming these lubricants, such as
managing heart health, is further augmenting the market growth. Moreover, the
escalating need for vegetable oils across various industries, owing to their
affordable price, lower volatility, enhanced pressure performance, high
viscosity, and easy availability, is also catalyzing the global market. Apart
from this, the changing dietary habits of consumers, on account of the
increasing prevalence of lifestyle diseases, are acting as significant
growth-inducing factors. Furthermore, the launch of several policies by the government
bodies to promote bio-based and organic products is expected to bolster the
vegetable oils market in the coming years.
Vegetable Oil Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the vegetable oil market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Archer-Daniels-Midland Company,
- Bunge Limited,
- Cargill,
- Incorporated,
- Louis Dreyfus Company BV
- Wilmar International Ltd.
Key Market Segmentation:
The report has segmented the vegetable oil market on the basis of breakup by oil type, application and region.
Breakup by Oil Type:
- Palm Oil
- Soybean Oil
- Sunflower Oil
- Canola Oil
- Coconut Oil
- Palm Kernel Oil
Breakup by Application:
- Food Industry
- Biofuels
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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