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Report
Global Vegetable Oil Market Report and Forecast 2023-2028
Market Report I 2023-09-13 I 147 Pages I EMR Inc.
Global Vegetable Oil Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global vegetable oil market is being aided by the escalating demand for healthier cooking alternatives and the diverse applications of vegetable oils across multiple sectors. The market is projected to grow at a CAGR of 3.10% between 2023 and 2028 to attain a volume of 256.14 MMT by 2028.
Vegetable oil, extracted from plants or seeds, encompasses a spectrum of oils, including sunflower, palm, soybean, canola, and olive oil. These oils have firmly cemented their presence in kitchens around the world as essential ingredients in culinary arts. Moreover, they carry a wealth of health benefits, being rich in essential fatty acids, vitamins, and antioxidants, contributing to heart health, skin vitality, and overall wellness. Beyond culinary uses, vegetable oils have also proven invaluable in an array of industries, from cosmetics and pharmaceuticals to biofuels and detergents.
The shifting consumer palate, leaning towards health-conscious dietary choices, has been a primary driver for the vegetable oil market growth. As awareness regarding the adverse health implications of trans fats and cholesterol grows, there is an evident shift towards vegetable oils, known for their "good fats" and nutritional content. Moreover, the surge in gourmet cooking and baking, buoyed by a globalised palate and the influence of cooking shows, has further elevated the demand for premium vegetable oils, such as olive and avocado oils.
In parallel to its culinary prominence, vegetable oil market demand is witnessing a surge in industrial applications. The cosmetic industry, for instance, has embraced oils like coconut and argan for their hydrating and rejuvenating properties, widely incorporating them into creams, lotions, and hair care products. In the realm of pharmaceuticals, vegetable oils are employed as carriers or solvents in various formulations, harnessing their natural benefits.
The renewable energy sector's burgeoning growth has spotlighted vegetable oils, especially as potential feedstock for biodiesel production. With the intensifying push for sustainable and cleaner energy sources, the role of vegetable oils in biofuel production cannot be understated, opening new vistas for vegetable oil market share.
Additionally, with the wave of veganism and plant-based diets washing over the global food scene, vegetable oils have found renewed importance. They serve as vital ingredients in various vegan and vegetarian food items, replacing animal fats and enhancing the flavour and nutritional profile of the dishes.
Market Segmentation
The market can be divided based on oil type, application, and region.
Market Breakup by Oil Type
- Palm Oil
- Soyabean Oil
- Sunflower Oil
- Olive Oil
- Canola Oil
- Coconut Oil
- Others
Market Breakup by Application
- Food
- Feed
- Industrial
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global vegetable oil market. Some of the major players explored in the report by Expert Market Research are as follows:
- Cargill, Incorporated
- Archer Daniel Midland Company
- IOI Corporation Berhad (IOI)
- Fuji Oil Co., Ltd.
- Sime Darby Plantation Berhad
- Bunge Limited
- Wilmar International Limited
- Louis Dreyfus Company B.V.
- Conagra Brands, Inc
- Olam Group Limited
- Golden Agri-Resources (GAR)
- PT Astra Agro Lestari Tbk
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Vegetable Oil Market Analysis
8.1 Key Industry Highlights
8.2 Global Vegetable Oil Historical Market (2018-2022)
8.3 Global Vegetable Oil Market Forecast (2023-2028)
8.4 Global Vegetable Oil Market by Oil Type
8.4.1 Palm Oil
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Soyabean Oil
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Sunflower Oil
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Olive Oil
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Canola Oil
8.4.5.1 Historical Trend (2018-2022)
8.4.5.2 Forecast Trend (2023-2028)
8.4.6 Coconut Oil
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.7 Others
8.5 Global Vegetable Oil Market by Application
8.5.1 Food
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Feed
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Industrial
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.6 Global Vegetable Oil Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
9 North America Vegetable Oil Market Analysis
9.1 Market by Oil Type
9.2 Market by Application
9.3 Market by Country
9.3.1 United States of America
9.3.1.1 Historical Trend (2018-2022)
9.3.1.2 Forecast Trend (2023-2028)
9.3.2 Canada
9.3.2.1 Historical Trend (2018-2022)
9.3.2.2 Forecast Trend (2023-2028)
10 Europe Vegetable Oil Market Analysis
10.1 Market by Oil Type
10.2 Market by Application
10.3 Market by Country
10.3.1 United Kingdom
10.3.1.1 Historical Trend (2018-2022)
10.3.1.2 Forecast Trend (2023-2028)
10.3.2 Germany
10.3.2.1 Historical Trend (2018-2022)
10.3.2.2 Forecast Trend (2023-2028)
10.3.3 France
10.3.3.1 Historical Trend (2018-2022)
10.3.3.2 Forecast Trend (2023-2028)
10.3.4 Italy
10.3.4.1 Historical Trend (2018-2022)
10.3.4.2 Forecast Trend (2023-2028)
10.3.5 Others
11 Asia Pacific Vegetable Oil Market Analysis
11.1 Market by Oil Type
11.2 Market by Application
11.3 Market by Country
11.3.1 China
11.3.1.1 Historical Trend (2018-2022)
11.3.1.2 Forecast Trend (2023-2028)
11.3.2 Japan
11.3.2.1 Historical Trend (2018-2022)
11.3.2.2 Forecast Trend (2023-2028)
11.3.3 India
11.3.3.1 Historical Trend (2018-2022)
11.3.3.2 Forecast Trend (2023-2028)
11.3.4 ASEAN
11.3.4.1 Historical Trend (2018-2022)
11.3.4.2 Forecast Trend (2023-2028)
11.3.5 South Korea
11.3.5.1 Historical Trend (2018-2022)
11.3.5.2 Forecast Trend (2023-2028)
11.3.6 Australia
11.3.6.1 Historical Trend (2018-2022)
11.3.6.2 Forecast Trend (2023-2028)
11.3.7 Others
12 Latin America Vegetable Oil Market Analysis
12.1 Market by Oil Type
12.2 Market by Application
12.3 Market by Country
12.3.1 Brazil
12.3.1.1 Historical Trend (2018-2022)
12.3.1.2 Forecast Trend (2023-2028)
12.3.2 Argentina
12.3.2.1 Historical Trend (2018-2022)
12.3.2.2 Forecast Trend (2023-2028)
12.3.3 Mexico
12.3.3.1 Historical Trend (2018-2022)
12.3.3.2 Forecast Trend (2023-2028)
12.3.4 Others
13 Middle East and Africa Vegetable Oil Market Analysis
13.1 Market by Oil Type
13.2 Market by Application
13.3 Market by Country
13.3.1 Saudi Arabia
13.3.1.1 Historical Trend (2018-2022)
13.3.1.2 Forecast Trend (2023-2028)
13.3.2 United Arab Emirates
13.3.2.1 Historical Trend (2018-2022)
13.3.2.2 Forecast Trend (2023-2028)
13.3.3 Nigeria
13.3.3.1 Historical Trend (2018-2022)
13.3.3.2 Forecast Trend (2023-2028)
13.3.4 South Africa
13.3.4.1 Historical Trend (2018-2022)
13.3.4.2 Forecast Trend (2023-2028)
13.3.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
17.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Cargill, Incorporated
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Archer Daniel Midland Company
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 IOI Corporation Berhad (IOI)
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Fuji Oil Co., Ltd.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Sime Darby Plantation Berhad
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Bunge Limited
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Wilmar International Limited
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Louis Dreyfus Company B.V.
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Conagra Brands, Inc
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Olam Group Limited
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Golden Agri-Resources (GAR)
18.2.11.1 Company Overview
18.2.11.2 Product Portfolio
18.2.11.3 Demographic Reach and Achievements
18.2.11.4 Certifications
18.2.12 PT Astra Agro Lestari Tbk
18.2.12.1 Company Overview
18.2.12.2 Product Portfolio
18.2.12.3 Demographic Reach and Achievements
18.2.12.4 Certifications
18.2.13 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Vegetable Oil Market: Key Industry Highlights, 2018 and 2028
2. Global Vegetable Oil Historical Market: Breakup by Oil Type (MMT), 2018-2022
3. Global Vegetable Oil Market Forecast: Breakup by Oil Type (MMT), 2023-2028
4. Global Vegetable Oil Historical Market: Breakup by Application (MMT), 2018-2022
5. Global Vegetable Oil Market Forecast: Breakup by Application (MMT), 2023-2028
6. Global Vegetable Oil Historical Market: Breakup by Region (MMT), 2018-2022
7. Global Vegetable Oil Market Forecast: Breakup by Region (MMT), 2023-2028
8. North America Vegetable Oil Historical Market: Breakup by Country (MMT), 2018-2022
9. North America Vegetable Oil Market Forecast: Breakup by Country (MMT), 2023-2028
10. Europe Vegetable Oil Historical Market: Breakup by Country (MMT), 2018-2022
11. Europe Vegetable Oil Market Forecast: Breakup by Country (MMT), 2023-2028
12. Asia Pacific Vegetable Oil Historical Market: Breakup by Country (MMT), 2018-2022
13. Asia Pacific Vegetable Oil Market Forecast: Breakup by Country (MMT), 2023-2028
14. Latin America Vegetable Oil Historical Market: Breakup by Country (MMT), 2018-2022
15. Latin America Vegetable Oil Market Forecast: Breakup by Country (MMT), 2023-2028
16. Middle East and Africa Vegetable Oil Historical Market: Breakup by Country (MMT), 2018-2022
17. Middle East and Africa Vegetable Oil Market Forecast: Breakup by Country (MMT), 2023-2028
18. Major Importing Countries by Volume
19. Major Exporting Countries by Volume
20. Major Importing Countries by Value
21. Major Exporting Countries by Value
22. North America Historical Price Trends and Forecast 2018-2028
23. Europe Historical Price Trends and Forecast 2018-2028
24. Asia Pacific Historical Price Trends and Forecast 2018-2028
25. Latin America Historical Price Trends and Forecast 2018-2028
26. Middle East and Africa Historical Price Trends and Forecast 2018-2028
27. Global Vegetable Oil Market Structure
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