New York, According to a new market research report published by Global Insight Services “Cooking Oil Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Cooking oil is a liquid derived from plants or animals that is used to cook food. It is typically made from vegetable oils, such as olive oil, palm oil, or coconut oil, but can also be made from animal fats, such as lard. Cooking oil is used to add flavor to food, prevent food from sticking to cookware, and help food to cook evenly.
Cooking oil is typically a blend of several different oils, each of which has a different smoke point. The smoke point is the temperature at which the oil begins to break down and release harmful chemicals. When cooking with oil, it is important to use an oil with a smoke point that is appropriate for the dish being cooked. For example, olive oil has a relatively low smoke point and is therefore not suitable for frying.
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Key Trends
The key trends in cooking oil technology are the development of healthier oils with a higher smoke point, and the development of oils that can be used for multiple purposes.
The development of healthier oils is driven by the need to address the health concerns associated with the use of traditional cooking oils. These oils are often high in saturated fats and trans fats, which can increase the risk of heart disease and other health problems. As a result, many people are looking for alternatives that are lower in these unhealthy fats.
One of the most promising developments in this area is the creation of oils that are high in monounsaturated fats. These oils have been shown to be much healthier than traditional oils, and they can help to reduce the risk of heart disease and other health problems. Additionally, they have a higher smoke point, which means that they can be used for cooking at higher temperatures without producing harmful compounds.
Key Drivers
The key drivers of the cooking oil market are:
1. Increasing population and urbanization: As the world’s population continues to grow, so does the demand for cooking oil. This is especially true in developing countries, where population growth and urbanization are leading to increased demand for processed foods, which in turn require cooking oil for production.
2. Rising incomes: As incomes rise, so does the demand for cooking oil. This is because higher incomes lead to increased consumption of processed foods, which require cooking oil for production. In addition, higher incomes also lead to increased demand for higher-quality cooking oils, such as olive oil and canola oil.
3. Changing dietary habits: Changing dietary habits are also driving the demand for cooking oil. For example, the growing popularity of fast food and processed foods is leading to increased demand for cooking oil. In addition, the growing popularity of healthy cooking oils, such as olive oil and canola oil, is also driving the demand for cooking oil.
Market Segments
The cooking oil market report is bifurcated on the basis of type, application, distribution channel, and region. On the basis of type, it is segmented into palm oil, soy oil, sunflower oil, and others. Based on application, it is analyzed across household, food service outlets, and others. By distribution channel, it is categorized into hypermarket/supermarket, independent retail store, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Key Players
The cooking oil market report includes players such as Archer-Daniels-Midland Company, American vegetable oil, Bunge Limited, Cargill, Fuji oil, Indo Agri, J-Oils, Louis Drayfus Company, Richardsons International, and Wilmar International.
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Reasons to buy Cooking Oil Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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