Global Vegetable Oil Market will be US$ 299.18 Billion by 2027

The latest report by Renub Research tittled, Vegetable Oil Market & Volume By Type, Production, Import & Export, Consumption, Production, Countries, Company Analysis, & Global Forecast” finds that Global Vegetable Oil Market is anticipated to grow to US$ 299.18 Billion by 2027. Globally, vegetable oils constitute an essential component of the human diet due to their health benefits, such as improving metabolism, reducing the risk of cardiovascular diseases, digestion, and lowering cholesterol levels. Vegetable oils are taken from a plant source, such as nuts, vegetables or seeds. They provide essential nutrients, like vitamins A, E, and B1, containing a higher amount of omega-6 (linoleic) and omega-3 (linolenic acid) and low in saturated fatty acids. They offer vegetable oils that are widely employed in preparing numerous dishes across the globe.

Impact of COVID-19 Pandemic on Global Vegetable Oils Industry

COVID-19 pandemic has unleashed a chain of unprecedented events affecting every industry. However, since overburdened, the food industry was responsible for meeting the requirements in the time of emergency, especially during the lockdown period, consumed vegetable oil for food application in large quantities and the vegetable oil industry witnessed a surge in demand from the sector.


Factors Driving Vegetable Oil Industry Globally

Further, the vegetable oil industry is primarily driven by the robust industrial applications of vegetable oils to manufacture organic industrial products, including toiletries and cosmetics, whose usage has increased globally. There is a significant growth in the need for vegetable oils as an alternative for mineral oil across different end-use industries. This can be attributed to their lower volatility, affordable price, better pressure performance, high viscosity, and easy availability worldwide.


Besides, a significant type of vegetable oil includes Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, and Sunflower Seed Oil. In terms of consumption being a food product, vegetable oils are viewed as the healthier option as they hold more unsaturated fatty acids than animal fats. As per this research report, the Worldwide Vegetable Oil Market Industry is expected to grow with a CAGR of 3.30% from 2020 to 2027.


Global Vegetable Oil Market Size was USD 238.30 Billion in 2020

One of the several widely used cooking oils is canola oil, also known as rapeseed oil. However, soybean, rapeseed, palm, and peanut oils are the most commonly consumed edible oils in China; hence the production of these oils are emphasized, although “Western” oils and fats such as olive oil and butter are gaining in popularity. There is a massive consumption of rapeseed oil in the European Union, owing to its large production in the regional market and its extensive application in the biodiesel, animal feed and food, industries. Germany and France are the leading customers of rapeseed oil in the regional sector.


Indonesia is the Largest Exporter and Producer of Palm Oil Globally

Worldwide, Indonesia has become the world’s largest producer and exporter of palm oil. Palm oil production is essential to the economy of Indonesia as the country is the world’s biggest consumer and producer of the commodity, providing about half of the world’s supply. Additionally, Indonesia exports Crude Palm Oil (CPO) and its derivatives to more than 45 countries worldwide. The nine largest consumers of Indonesian CPO are European Union, India, China, Singapore, Malaysia, Bangladesh, Egypt, Pakistan, and the United States.


India one of the biggest Imported of Edible Oil Globally

Moreover, India is one of the largest importers of edible oils in the world. India does not even produce half of its edible oil requirements, mainly due to rainfed conditions, smallholding with limited resources, high seed cost, low seed replacement rate and low productivity. The nation has to rely on imports to meet the gap between demand and supply. India imports palm oil mainly from Indonesia and Malaysia and a small quantity of soft crude oil, including soybean oil from Argentina.

Company Performance

Key players such as Cargill, Archer Daniels Midland (ADM), Wilmar International Limited, Sime Darby Plantation Berhad, Olam International Limited of the market studied include partnerships, product innovations, expansions, and mergers and acquisitions. For instance, in 2019, Archer Daniels Midland Company and Wilmar International Limited upgraded their collaboration into a full function joint enterprise Olenex.  ADM declared to transfer a specialty oils and fats facility and a palm refining plant in Hamburg, Germany, to the new joint venture as part of the deal.

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Report Summary

Types – We have covered by type in the global vegetable oils breakup by 9 Sub-segments (Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, and Sunflower Seed Oil)

Production by volume – This report covered by production volume in the global vegetable oils by breakup by 9 Sub-segments (Coconut Oil, Olive Oil, Cottonseed Oil, Palm Oil, Palm Kernel Oil, Rapeseed Oil, Peanut Oil, Soybean Oil, and Sunflower Seed Oil)

Import by volume – Our report covered by import by volume in the global vegetable oils by breakup by 9 Sub-segments (Coconut Oil, Cottonseed Oil, Palm Oil, Olive Oil, Palm Kernel Oil, Rapeseed Oil, Peanut Oil, Soybean Oil, and Sunflower Seed Oil)

Export by volume – Our report covered by export by volume in the global vegetable oils by breakup by 9 Sub-segments (Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Soybean Oil, Rapeseed Oil, and Sunflower Seed Oil)

Consuming Country – This report covered by Consuming Country in the global vegetable oils by breakup by 10 Sub-segments (China, European Union, India Indonesia, United States, Brazil, Malaysia, Thailand, Japan and Others)

Producing Country – This report covered by producing Country in the global vegetable oils by breakup by 7 Sub-segments (Indonesia, China, Malaysia, European Union, European Union and Others)

Importing Country – We have covered by importing Country in the global vegetable oils by breakup by 7 Sub-segments (India, China, European Union, United States, Malaysia, South Korea and Others)

Exporting Country – Our report covered by exporting Country in the global vegetable oils by breakup by 6 Sub-segments (Indonesia, Malaysia, Russia, Canada, European Union and Others)

All the key players have been covered from 3 Viewpoints (Overview, Recent Development, Revenue Analysis) Cargill, Archer Daniels Midland (ADM), Wilmar International Limited, Sime Darby Plantation Berhad, Olam International Limited.

About the Company:

Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food & Beverages, Power & Energy, Information Technology, Telecom & Internet, Chemical, Logistics & Automotive, Consumer Goods & Retail, Building, and Construction, & Agriculture. Our core team is comprised of experienced people holding graduate, postgraduate, and Ph.D. degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science, and many more. Our research helps to make business decisions: on strategy, organization, operations, technology, mergers & acquisitions etc. We support many blue chip companies by providing them with findings and perspectives across a wide range of markets. Our research reports offer a blend of information insight, analysis, and forecasting that is essential in today’s ultra-competitive markets.

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Vegetable Oil Market & Volume By Type, Companies, and Global Forecast

Vegetable oils are attained from legitimate sources like seeds, nuts, and fruits. They find extensive applications in a zone ranging from food to household and personal care zones. They are of rich nutrient origin and are used in cooking, non-dairy creamers, and ice-cream. They are being used as a substitute for animal fats. It is used to make soaps, detergents, lubricants, greases, and candles in case of non-food applications. As per Renub Research, Global Vegetable Oil Market is anticipated to grow to US$ 299.18 Billion by 2027.

The expanding use of vegetable oil in food applications, prominently in blooming countries, aids the global market growth. The inclination in consumption of the economy is an outcome of the booming population, transposing diets, and higher standards of living. The further thrust to the market has been calculated by rising demand for its imports. The Vegetable Oil Market is expected to grow with a CAGR of 3.30% from 2020 to 2027.

vegitable oil market volume

The Major Drivers of the Global Vegetable Oil Market are:

• Surging use of vegetable oil in the food industry business as they pave a trans-fat free substitute.
• Growing demand for vegetable oils in the biofuel industry.
• Increasing health benefits of vegetable oils.

Based on types and countries, the market has been further divided. Out of the total vegetable oil consumption, the palm kernel oil largely influences the global vegetable oil market. Palm kernel oil is succeeded by Palm Oil, Soybean Oil and Olive Oil. In the year 2020, Vegetable Oil Industry was at USD 238.30 Billion, and it has grown from there year on year.

The food industry uses a major part of the total vegetable oil produced. The industrial usage and the bio-fuel industry succeed in the food industry. By country, China accounts for one of the big market contributing to the total global consumption of vegetable oil. The majority of the production volume share constitutes by Indonesia and China and is anticipated to continue its domination among the producing countries in the upcoming years. The leading industry players are Cargill, Archer Daniels Midland (ADM), Wilmar International Limited, Olam International Limited and Sime Darby Plantation Berhad

COVID-19 Impact

There has been a noteworthy decline in the demand for vegetable oil on recital of the closure of hotels, restaurants, and catering services due to breakout of the coronavirus pandemic (COVID-19) and its resultant lockdowns. It has been projected that the global vegetable oil market will exhibit moderate growth during the next seven years.

Renub Research new report titled “Global Vegetable Oil Market & Volume” by Type, Production, Import & Export (Oil, Coconut, Oil Cottonseed, Oil Olive, Oil Palm, Oil Palm Kernel, Oil Peanut, Oil Rapeseed, Oil Soybean, Oil Sunflower seed), Consumption (China, European Union, India, Indonesia, United States, Brazil, Malaysia, Thailand, Japan), Production (Indonesia, China, Malaysia, European Union, United States, Brazil, Other), Import (India, China, European Union, United States, Malaysia, South Korea, Other) Export Country (Indonesia, Malaysia, Russia, Canada, European Union, Other), Company (Cargill, Archer Daniels Midland (ADM), Wilmar International Limited, Olam International Limited, and Sime Darby Plantation Berhad).

Request a free Sample copy of the report: https://www.renub.com/request-sample-page.php?gturl=vegetable-oil-market-p.php

About the Company:

Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises of major players in Healthcare, Travel and Tourism, Food & Beverages, Power & Energy, Information Technology, Telecom & Internet, Chemical, Logistics & Automotive, Consumer Goods & Retail, Building and Construction, & Agriculture. Our clients rely on our market analysis and data to make informed knowledgeable decisions. We are regarded as one of the best providers of knowledge. Our pertinent analysis helps consultants, bankers and executives to make informed and correct decisions.

Our core team is comprised of an experienced people holding graduate, postgraduate and PhD degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science and many more. Our research helps to make the business decisions: on strategy, organization, operations, technology, mergers & acquisitions etc. We support many blue chip companies by providing them findings and perspectives across a wide range of markets. Our research reports offer a blend of information insight, analysis and forecasting that is essential in today’s ultra-competitive markets.

Contact Us:
Renub Research
Phone No: +1 678-302-0700 (USA) | +91-120-421-9822 (IND)
Email: info@renub.com
Web: https://www.renub.com
Follow on Linkedin: https://www.linkedin.com/company/renub-research