Global Vegetable Oil Market - Forecast(2023 - 2028)

Global Vegetable Oil Market size is estimated to reach $3,700 million by 2026, growing at a CAGR of 6.1% over 2021-2026. Vegetable oils are extracted from various plant seeds such as palm, sunflower, mustard and many more. Vegetable oils are a mixture of triglycerides of fatty acids which are esters of glycerol and are chemically known as fat. Recently, vegetable oils are made from margarine that suppress polyunsaturated fats which can lower the bad cholesterol and are considered as highl processed food product. The vegetable oil which is extracted from soybean seeds are widely used for cooking oils. In food Industry, the addition of oil in hydrogen is called hydrogenation and this helps to increase the shelf life of food. Growing consciousness about health among people and increasing application of vegetable oil in various industries are the major factors driving the growth of this market. Furthermore, increasing research and development activities in food and beverage industry and rising government initiatives is set to further enhance the overall market demand for Global Vegetable Oil Market for the period 2021-2026.

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Global Vegetable Oil Market Report Coverage

The report: “Global Vegetable Oil Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Global Vegetable Oil Market.

By Type: Palm Oil, Soyabean Oil, Rapeseed Oil, Sunflower Oil, Olive Oil, and Others
By Packaging Type: Cans, Bottles, Pouches, and Others 
By Application: Food, Feed, and Industrial
By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa)

Key Takeaways

  • Geographically, in 2020, North America dominated the Global Vegetable Oil Market owing to increasing accessibility of various number of food and beverage manufacturers, rising research and advancement in food industry and rising initiatives by the government.

  • Growing consciousness about health among people and increasing application of vegetable oil in various industries are likely to aid in the market growth of the Global Vegetable Oil.

  • Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Global Vegetable Oil Market report.

  • Rising concerns about the environment and high cost of production is set to create hurdles for the Global Vegetable Oil Market. 


ncreasing Application in Various Industries

Increasing application of vegetable oil in fuel production, culinary, soaps, and perfume formulations and various industries increases the growth of this Market. Moreover, rising demand of biodiesel in automotive and aerospace industries as the vegetable oils used as an alternative energy source that is increasing the growth of Vegetable Oil Market over 2021-2026.

Covid-19 Impact:

COVID-19 pandemic had greatly impacted the growth of Vegetable Oil Market. During pandemic, there is disruption in supply chain that reduced the supply and causes disruption in various industries such as food and beverage and are negatively impacted the growth of this market.

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Global Vegetable Oil Market Challenges

Rising Environmental Concerns

The factors that is set to impede the growth of the Global Vegetable Oil Market are the rising concerns about environment in order to reduce the use of palm oil and high cost of processing is set to create hurdles for the Vegetable Oil Market. 

Global Vegetable Oil Landscape

Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Vegetable Oil Market. Vegetable Oil top 10 companies are The Manischewitz Company, Conagra Brands, Inc., Waitrose & Partners , The J.M. Smucker Co., IFFCO , Unico, Woolworths Group Limited, Edible Oils Ltd., Marico Limited, and Adani Wilmar Limited.

Development

In April 2019, L'Oreal launched a beauty brand product with sunflower seed oil that increases the demand of vegetable plant seeds and are increasing the growth of this market.



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