Edible Oil Market - Forecast(2024 - 2030)

Edible oil is extracted from fruits, vegetables and animals. It is used to prepare a number of delicacies. Amongst the numerous types of edible oils available commercially, soybean, palm, rapeseed, and sunflower oils are prevalent among buyers. The edible oil market is anticipated to grow considerably in the upcoming years due to the rising popularity of crude, natural, healthy, and organic vegetable oils. Vegetable oils that are low in fat, cholesterol, and calories are likely to record high growth due to the growing health cognizance midst people across the globe. 

Plant-derived edible oils contain carboxylic acids with lengthy hydrocarbon chains, in disparity to petroleum-based oils which lack the carboxyl group on the end. The carboxyl group makes the oils edible, providing a site for enzymes to attack and break down the chain in a process called beta-oxidation. The lengths of the hydrocarbon chains and whether they are saturated or not, or unsaturated in a cis or trans conformation, determines how easily they are metabolized and how healthy or unhealthy they are as part of one's diet. Edible oils are composed of various fractions of fatty acids. For the purpose of frying food, oils high in monounsaturated or saturated fats are generally popular, while oils high in polyunsaturated fats are less desirable. High-oleic acid oils include almond, macadamia, olive, pecan, pistachio, and high-oleic cultivars of safflower and sunflower.

Edible oils are majorly used for cooking, though occasionally oils like coconut oil, almond oil and peanut oil are used for personal care in the making of hair oils and soaps. Almond oil is also perfect for hard candy making. It is ideal for candies, candy centers, fondants, frostings, fudges.  This flavor can be used in chocolate and chocolate coatings. Vegetable oils are also blended into the feed of animals, to increase their nutrition intake and for their fattening. Some small scale applications of edible oil its use to prepare bio-diesel, lubricants, solvents and emulsions.

The global edible oil market report is being classified into two major categories namely market by product type and by end use. Each segment is further divided into sub-segments for the overall analysis and understanding of the market. These segments are subsequently followed by geographical classification i.e. Europe, APAC, North America and RoW which are studied under the scope of report.

This market is growing steadily because of the increasing demand of trans-fat free oils. Improvements in the use healthier ingredients, and new flavors will result in the market's growth. Some of the factors driving this market's growth are enhancements in the retail sector, growing economies and increased production of oil owing to high crop yields.

Trans-fat free soybean oil, rising attraction for olive oil, and growing predilection for canola oil from the food industry will drive the market in the imminent years. Alterations in the composition of vegetable oil, intake of diverse varieties of oil, and shifting preferences of buyers as per health requirements are also assisting in the growth of this market. 

The Asia-Pacific region held the highest share of XX% in 2016 and is estimated to reach $xx billion by 2021 growing at a CAGR of XX%. North America will be closely followed Europe in the forecast period 2017-21. Asia-Pacific is emerging as a growing market for edible oils due to increase in demand for vegetable oils from China and India.

These companies are steadily focusing on expanding their production capacity to achieve a competitive advantage thus improving their customers service. The huge investments in R&D, followed by large expansions in the manufacturing units were the most preferred strategies by the top players in 2016.