Organic edible oil market size to grow by USD 3.13 billion from 2022 to 2027, Technavio

NEW YORK, March 25, 2024 /PRNewswire/ -- The organic edible oil market size is set to witness substantial growth, according to a comprehensive report forecasting trends from 2023 to 2027. The report estimates a remarkable expansion of USD 3,126.37 million at a Compound Annual Growth Rate (CAGR) of 10.33% during the forecast period. Key factors driving this growth include the increasing demand for trans-fat-free oils, multiple applications of organic edible oils, and their associated health benefits.

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The market segmentation highlights the organic soybean oil segment as a significant contributor to market expansion. Organic soybean oil, derived from soybeans grown without harmful fertilizers or chemicals, is gaining popularity due to its lower price, neutral flavor, and health benefits. Compared to inorganic alternatives, organic soybean oil offers higher nutritional value, including a higher concentration of omega-3 and omega-6 fatty acids, and is free from harmful additives. The demand for organic food products is rising as consumers prioritize health and sustainability, further driving the growth of this segment.

One of the notable trends in the market is the increasing prominence of private-label brands. Retailers worldwide are prioritizing private-label organic products to cater to consumer demand for high-quality, sustainable options. The affordability of private-label products compared to branded alternatives makes them attractive to price-sensitive consumers, leading to their widespread adoption.

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However, the market faces challenges, particularly related to certification processes. Producers encounter difficulties in obtaining organic certifications due to the high costs, lengthy approval procedures, and complex requirements. The certification process involves stringent inspections and documentation, posing hurdles for many companies. Additionally, inadequate infrastructure further delays certification processes, hindering market growth.

The report emphasizes the key drivers, trends, and challenges shaping the organic edible oil market. Benefits such as lower pesticide levels and environmental sustainability are driving consumer preference for organic products. The market is witnessing a surge in demand for plant-based products, driven by health and wellness trends and environmental awareness. Supermarkets and hypermarkets play a crucial role in meeting this demand, with organic food gaining popularity worldwide.

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In the Asia-Pacific (APAC) region, the market is experiencing significant growth, attributed to rising disposable incomes, increased consumer awareness, and expansion in the retail industry. Countries such as China, India, and Australia are major contributors to market growth, with a growing preference for premium organic oils like olive oil, coconut oil, and avocado oil.

Overall, the organic edible oil market is evolving rapidly, with a focus on sustainability and health driving consumer preferences. Farmers are adopting organic farming practices to meet the demand for high-quality, natural products. Brands such as Conscious Food, Pure & Sure, and 24 Mantra Organic are leading the market in countries like India, while Soil Association and Spectrum Naturals dominate the US and UK markets.

The market's future growth trajectory will be influenced by ongoing developments in organic farming practices, consumer preferences, and regulatory frameworks. With increasing focus on sustainability and environmental conservation, the organic edible oil market is poised for significant expansion in the coming years.

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Analyst Review

The organic edible oil market has witnessed a significant surge in recent years, driven by growing consumer awareness of health and environmental concerns. Conventional oils, once dominant in the market, are now facing scrutiny due to their environmental impact and potential health risks associated with pesticides and additives. As a result, there has been a shift towards sustainable alternatives, with consumers demanding high-quality and healthy products derived from natural foods.

Government regulations and certifications play a crucial role in shaping the organic edible oil market, ensuring that products meet stringent standards for sustainability and purity. Top countries like India, the United States, and the United Kingdom have seen a rising demand for organic oils, particularly in segments such as soy, sesame, mustard, sunflower, and groundnut oil.

In India, brands like Organic India, Kisan, Conscious Food, Pure & Sure, and 24 Mantra Organic have been at the forefront of promoting organic farming practices and offering a diverse range of organic oils to meet consumer preferences. Similarly, in the United States, companies like Cargill Incorporated and Bunge Limited have capitalized on the growing interest in organic products, particularly in the sesame oil segment.

The UK market has also witnessed notable developments, with consumers increasingly opting for organic oils from reputable brands like Cargill, Bunge Limited, Soil Association, Spectrum Naturals, Nutiva, Eden Foods, and others. Recent developments in the organic edible oil market have been shaped by health and wellness trends, as consumers prioritize plant-based products rich in nutrients like vitamin K, which plays a crucial role in bone metabolism.

As disposable incomes rise and supermarkets and hypermarkets expand their offerings, organic oils have become more readily available and accessible to a broader consumer base. Distribution channels have diversified, with online platforms also playing a significant role in reaching consumers interested in healthier alternatives.

Looking ahead, the organic edible oil market is poised for continued growth during the forecast period, driven by the increasing demand for natural and sustainable products. Farmers, producers, and retailers are embracing organic farming practices and innovative marketing strategies to meet the evolving needs of health-conscious consumers seeking premium oils like olive, coconut, avocado, and soybean oil, rich in omega-6 fatty acids and other essential nutrients.

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Market Overview

The organic edible oil market is experiencing a surge due to rising environmental concerns and demand for sustainable alternatives. Government regulations and certificates ensure high-quality, healthy products in the food industry, particularly in the natural foods segment. Accessibility and availability are improving, driven by consumer preferences for natural and sustainable methods. Within this market, the soya oil segment is gaining traction, offering Vitamin K that supports bone metabolism. As consumers prioritize health and sustainability, the demand for organic edible oils continues to rise, prompting manufacturers to focus on producing premium-quality products while adhering to stringent environmental standards.

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The oil refining market size is forecast to increase by USD 121.92 billion and is estimated to grow at a CAGR of 1.42% between 2023 and 2027. 

ToC:

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

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SOURCE Technavio