Vegetable Oil Market Set To Reach USD 345.93 Billion by 2029, Share, Demand, Top Players, Industry Size and Future Growth Analysis

CHICAGO, July 21, 2022 /PRNewswire/ -- Data Bridge Market research has recently released expansive research titled "Global Vegetable Oils Market" guarantees you will remain better informed than your competition. This study provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market. Key elements of this report range from industry outlook along with critical success factors, industry dynamics or market definition in terms of drivers and restraints, market segmentation and value chain analysis, key opportunities or developments, application and technology outlook, regional or country level analysis to the competitive landscape. What is more, Vegetable Oils report provides the data and information for actionable, most recent and real-time market insights which makes it straightforward to even take critical business decisions

Data Bridge Market Research analyses that the vegetable oil market which was growing at a value of 241.4 billion in 2021 and is expected to reach the value of USD 345.93 billion by 2029, at a CAGR of 4.60% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

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Market Analysis and Size

Following the onset of the COVID-19 pandemic, consumers are becoming more conscious of the food they consume. People are more likely to use vegetable oil for household cooking because it is said that less animal fat is always better. The wide suitability of vegetable oil has influenced many manufacturers to produce various types of products using vegetable oil.

Opportunity

The rising prevalence of lifestyle diseases has resulted in a shift in consumer dietary habits around the world. As a result, market leaders are introducing minimally processed and organic vegetable oil alternatives. This, along with numerous initiatives undertaken by various governments to promote bio-based products such as vegetable oils, is stimulating market growth.

Some of the major players operating in the vegetable oil market are:

• Georgia-Pacific Chemicals LLC (U.S.)
• Kraton Corporation (Netherlands)
• Eagle Imports (U.S.)
• PAG KIMYA SAN. TIC. LTD. STI. (Turkey)
• GrantChem, Inc. (U.S.)
• LLC PK "XimProm" (Russia)
• AKAY TIC SAN KOLL STI - YUKSEL AKAYLAR (Turkey)
• Fujian Qina Trading Co. Ltd. (China)
• IBRAHIM WALI MOHAMMAD & CO. (Pakistan)
• G.C. RUTTEMAN & Co. B.V. (Netherlands)
• MALPLAST INDUSTRIES LIMITED (Kenya)
• Akay Ticaret Ve Sanayi Koll.Sti. (Turkey)
• Matole Ltd (Hungary)
• Finis Vegetable Oil B.V. (Netherlands)
• Bettcher Industries, Inc. (U.S.)
• Anko Food Machine Co. Ltd. (Taiwan)
• Heat and Control, Inc. (U.S.)
• BAADER (Germany)
• Dover Corporation (U.S.).

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Recent developments:-

Bunge Loders Croklaan expanded its oils and fats portfolio in 2021 to meet European organic demand, providing a consistent and scalable supply of organic oils and fats such as sunflower, rapeseed, soy, palm, shea, and coconut.

Cargill Incorporated purchased and improved an edible oil refinery in Nellore, India, in 2021, investing USD 35 million to purchase and improve the facility, which will increase edible oil production volume and allow the company to extend its existing supply chain to meet consumer demands.

Sime Darby Plantation Berhad opened the 'Palm Oil Experience Centre' in Carey Island, Selangor, in 2019. It is intended to serve as an educational hub where visitors can learn more about palm oil as well as the company's operations.

Market Segmentation:-

Product type

• Palm Oil
• Soybean Oil
• Rapeseed Oil
• Sunflower Oil
• Olive Oil
• Others

Application

• Food
• Animal Feed
• Industrial

Vegetable Oil Market Regional Analysis/Insights

The vegetable oil market is analysed and market size insights and trends are provided by country, product type and application as referenced above.

The countries covered in the vegetable oil market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominated the vegetable oil market. This is due to increased accessibility of various food and beverage manufacturers, increased research and advancement in the food industry, and increased government initiatives. According to the Food and Agricultural Organization (FAO), per capita vegetable oil consumption is increasing by 3.1 percent per year, and India is the world's largest importer of vegetable oil, contributing to the market's growth.

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Vegetable Oil Market Dynamics

Key Drivers

• Expansion of the food sector and constant product innovations

The expansion of the foodservice industry around the world and the increased use of vegetable oils in the biofuels production process are driving growth in the forecast period. The market is expanding as a result of various market players around the world working on product innovations. Furthermore, the growing demand for biofuel in both developed and developing economies contributes to the market's expansion.

• Sustainable approaches by the manufacturers and growing application from various industries

There are many creative applications for vegetable oil, including leather preservation, lamp oil, household lubricant, paint remover, hair moisturiser, and many more. The growing emphasis of the consumer masses on reducing waste and increasing recycling efforts has pushed the development of sustainable approaches.

The growing emphasis on sustainability, combined with the growing enthusiasm for DIY, is likely to fuel the use of the product in the forecast period. Due to the UCO's unique properties can be used as a protective medium against external factors such as dust, sand, and others. The product's various applications as a lubricant, moisturiser, preservative, and others are likely to push its market growth over the forecast period.

Opportunity

The rising prevalence of lifestyle diseases has resulted in a shift in consumer dietary habits around the world. As a result, market leaders are introducing minimally processed and organic vegetable oil alternatives. This, along with numerous initiatives undertaken by various governments to promote bio-based products such as vegetable oils, is stimulating market growth.

TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers And Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix

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