Vegetable Oil Market
Global Vegetable Oil Market – Industry Trends and Forecast to 2029
PUNE, MAHARASHTRA, INDIA, December 16, 2022 /EINPresswire.com/ — 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.
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.
For more insights on Vegetable Oils market segmentation @ https://www.databridgemarketresearch.com/reports/global-vegetable-oil-market
Manufacturers Gaining Understanding of Organic Products
Manufacturers in the vegetable oils market are moving toward increasing production of organic edible oils due to the rising demand from the food industry. Philippines and Indonesia have a large number of vegetable oil producers that provide plant-based organic oils that can be used in baking, dairy products, confectionary items, pharmaceutical products, etc. Premium quality organic vegetable oils such as sunflower oil, safflower oil, coconut oil, and palmoil are the essential component of household cooking. Since the threatening coronavirus outbreak, people are more prone to consume plant-based oils than the animal-based monounsaturated oils/fats.
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Vegetable Oils: Market Frontrunners
Demand for vegetable oils has been consistently increasing in various end-use industries, owing to the versatility that vegetable oils offer in producing several end products
Adoption of vegetable oils in many end-use industries, including food, animal feed, medicines, personal care & cosmetics, foodservice, and retail/household is clearly due to their operational flexibility and nutritional value
As the population grows, more demand for vegetable oils is anticipated from these industrial segments, wherein food industry, foodservice industry, and retail/household are expected to be major demand accelerators in the market. To appeal to a wide range of customers, key players in this industry offer numerous types of oils in varied packaging and according to their intended use.
Based on type, palm oil dominates the global market with an approximate share of 30.7% followed by soybean oil, and is anticipated to witness growth at a value CAGR of 6.2%
Companies Mentioned
Cargill, Incorporated
Adani Wilmar Ltd.
Ruchi Soya Industries Ltd.
Associate British Foods Plc
Archer Daniels Midland Company
Karkotis Manufacturing & Trading Public Ltd.
Borges International Group
L
Bunge Limited
Arkema
Louis Dreyfus Company
Olam International
CannOils LLC
3F Industries Ltd.
Mewah Group
IFFCO
The Latest TOC of This Report @ https://www.databridgemarketresearch.com/toc/?dbmr=global-vegetable-oil-market
The types of oil include the following:
Palm
Soybean
Canola
Sunflower
Coconut
Palm Kernel
Others
It finds wide applications in the following:
Food Industry
Biofuels
Others
North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regions in the global vegetable oil market.
Key Questions Answered in This Report
What is the impact of COVID-19 on the global vegetable oil market?
What will be the global vegetable oil market outlook during the forecast period (2022-2029)?
What was the global vegetable oil market size in 2022?
What are the major global vegetable oil market drivers?
What are the major global vegetable oil market trends?
What is the global vegetable oil market breakup by oil type?
What is the global vegetable oil market breakup by application?
What are the major regional markets in the global vegetable oil industry?
Who are the leading global vegetable oil industry players?
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Data Bridge Market Research
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