The global edible oil and fats market size is expected to reach USD 361.88 billion by 2032, expected to grow at a CAGR of 3.91% during the forecast period.
The Edible Oils & Fat Market encompasses the production, distribution, and consumption of oils and fats that are used in cooking, food processing, and other culinary applications. Edible oils and fats are vital components of the human diet, offering essential fatty acids, vitamins, and energy. They are derived from plant, animal, or synthetic sources, with each type having unique nutritional and culinary properties.
Market Growth Drivers
- Increasing Demand for Processed Foods:
The rise in the global population and urbanization has led to increased consumption of processed and ready-to-eat foods. These food products often rely heavily on edible oils for texture, flavor, and preservation. As a result, there is a growing demand for oils and fats in the food industry. - Health Consciousness and Demand for Healthier Oils:
Consumers are becoming more health-conscious and are actively seeking oils with better nutritional profiles. This has led to the popularity of healthier oil options such as olive oil, avocado oil, and oils rich in omega-3 fatty acids. Oils with lower saturated fat content are in demand as part of a broader trend towards heart-healthy eating. - Rising Disposable Income and Changing Lifestyles:
As disposable incomes rise, particularly in emerging economies, there is increased demand for a wide range of edible oils and fats for cooking and food preparation. Changing lifestyles, especially among the middle class in developing countries, also contribute to the growing consumption of oils and fats.
Some of the major players operating in the global market include:
- Cargil
- Incorporated
- Unilever PLC
- Mewah International Inc.
- Adani Wilmar Ltd
- Apetit Kasviöljy Oy.
- Aceites Borges Pont S.A.
- Bunge Limited
- The Nisshin Oillio Group
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Market Growth Drivers
- Increasing Demand for Processed Foods:
The rise in the global population and urbanization has led to increased consumption of processed and ready-to-eat foods. These food products often rely heavily on edible oils for texture, flavor, and preservation. As a result, there is a growing demand for oils and fats in the food industry. - Health Consciousness and Demand for Healthier Oils:
Consumers are becoming more health-conscious and are actively seeking oils with better nutritional profiles. This has led to the popularity of healthier oil options such as olive oil, avocado oil, and oils rich in omega-3 fatty acids. Oils with lower saturated fat content are in demand as part of a broader trend towards heart-healthy eating. - Rising Disposable Income and Changing Lifestyles:
As disposable incomes rise, particularly in emerging economies, there is increased demand for a wide range of edible oils and fats for cooking and food preparation. Changing lifestyles, especially among the middle class in developing countries, also contribute to the growing consumption of oils and fats.
Recent Developments
- In February 2023: Cargill, Incorporated launched its edible oil Gemini Pureit to cater to the demand of the Southern Part of India, which consumes nearly two-thirds of India’s sunflower oil.
- In May 2021: ADM announced its planning to build its first-ever soybean crushing and refinery in the United States to fulfill the demand from food, biofuel, industrial and other applications.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The research report categorizes the market into various segments and sub-segments. The primary segments covered in the study include type, application, end use and region. The splitting of the market into various groups enables businesses to understand market preferences and trends better. Also, stakeholders can develop products/services that align with the diverse needs of consumers in the industry. Besides, the research study includes a thorough examination of all the major sub-segments in the market.
Edible Oil and Fats Market, Product Outlook (Volume, Kiloton; Revenue – USD Billion, 2019 – 2032)
- Edible Oil
- Sunflower Oil
- Soyabean Oil
- Olive Oil
- Palm Oil
- Coconut Oil
- Vegetable Oils
- Others
- Edible Fats
- Fats
- Butter
- Margarine
- Tallow & Grease
- Lard
- Others
Edible Oil and Fats Market, Source Outlook (Volume, Kiloton; Revenue – USD Billion, 2019 – 2032)
- Animal
- Vegetable
Edible Oil and Fats Market, Form Outlook (Volume, Kiloton; Revenue – USD Billion, 2019 – 2032)
- Solid
- Liquid
Edible Oil and Fats Market, End-Use Outlook (Volume, Kiloton; Revenue – USD Billion, 2019 – 2032)
- Food and Beverage
- Biofuel and Energy
- Personal Care and Cosmetics
- Pharmaceuticals
- Chemicals
- Others
Edible Oil and Fats Market, Distribution Channel Outlook (Volume, Kiloton; Revenue – USD Billion, 2019 – 2032)
- Offline
- Online
The Edible Oils & Fat Market is poised for continued growth driven by consumer preferences for healthier oils, increasing demand for convenience foods, and rising awareness of sustainable production practices. Innovations in oil extraction, health benefits, and sustainability will likely shape the future of the market, making it an exciting area for food manufacturers and consumers alike. The market’s expansion in emerging economies, combined with the rising trend of clean-label products, offers significant opportunities for growth in the coming years.
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