Vegetable Oil (Palm Oil, Canola Oil, Coconut Oil and Soybean Oil) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global vegetable oil market size reached US$ 255.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 343.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.
Vegetable oils are extracted from the seeds, nuts, and fruits of various plants. They provide essential nutrients, such as vitamins E, A, and B1, and omega-3 and omega-6 fatty acids. They are commonly utilized as an alternative to animal-based fats and petrochemicals in both food and non-food applications. For instance, they are used in the production of bactericides, cosmetics, and pharmaceuticals. Moreover, as they offer health benefits, such as reducing the risk of cardiovascular diseases, improving metabolism and digestion, and lowering cholesterol levels, vegetable oils are widely employed in the preparation of numerous dishes across the globe.
Vegetable Oil Market Trends:
Presently, there is a considerable rise in the demand for vegetable oils in the production of fuels, culinary soaps, and perfume formulations. This represents one of the key factors propelling the market growth. Apart from this, the increasing awareness among individuals about the health benefits of consuming vegetable oils, such as managing heart health, is also driving the market. In addition to this, there is a significant rise in the need for vegetable oils as an alternative for mineral oil across different end use industries. This can be attributed to their affordable price, lower volatility, better pressure performance, high viscosity, and easy availability around the world. Furthermore, the increasing prevalence of lifestyle diseases has resulted in the changing dietary habits of consumers worldwide. As a result, leading market players are introducing minimally processed and organic vegetable oil variants. This, along with numerous initiatives undertaken by governing agencies of several countries to promote bio-based products like vegetable oils, is stimulating the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global vegetable oil market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on oil type and application.
Breakup by Oil Type:
Palm Oil
Soybean Oil
Sunflower Oil
Canola Oil
Coconut Oil
Palm Kernel Oil
At present, palm oil accounts for the majority of the total market share as it is widely used for preparing various foods, industrial chemicals and biofuels.
Breakup by Application:
Food Industry
Biofuels
Others
The food industry currently holds the largest market share.
Breakup by Regions:
China
United States
India
Europe
Indonesia
Malaysia
Brazil
Others
Amongst these, China enjoys the leading position in the market.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Archer-Daniels-Midland Company, Bunge Limited, Cargill, Incorporated, Louis Dreyfus Company BV and Wilmar International Ltd.
Key Questions Answered in This Report
1. What is the impact of COVID-19 on the global vegetable oil market?
2. What will be the global vegetable oil market outlook during the forecast period (2023-2028)?
3. What was the global vegetable oil market size in 2022?
4. What are the major global vegetable oil market drivers?
5. What are the major global vegetable oil market trends?
6. What is the global vegetable oil market breakup by oil type?
7. What is the global vegetable oil market breakup by application?
8. What are the major regional markets in the global vegetable oil industry?
9. Who are the leading global vegetable oil industry players?
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Vegetable Oil Industry
- 5.1 Market Overview
- 5.2 Market Performance
- 5.2.1 Volume Trends
- 5.2.2 Value Trends
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Region
- 5.5 Market Breakup by Oil Type
- 5.6 Market Breakup by Application
- 5.7 Market Forecast
- 5.8 SWOT Analysis
- 5.8.1 Overview
- 5.8.2 Strengths
- 5.8.3 Weaknesses
- 5.8.4 Opportunities
- 5.8.5 Threats
- 5.9 Value Chain Analysis
- 5.9.1 Input Suppliers
- 5.9.2 Farmers
- 5.9.3 Collectors
- 5.9.4 Manufacturers
- 5.9.5 Distributors
- 5.9.6 Retailers
- 5.9.7 End-Consumers
- 5.10 Porter’s Five Forces Analysis
- 5.10.1 Overview
- 5.10.2 Bargaining Power of Buyers
- 5.10.3 Bargaining Power of Suppliers
- 5.10.4 Degree of Competition
- 5.10.5 Threat of New Entrants
- 5.10.6 Threat of Substitutes
- 5.11 Price Analysis
- 5.11.1 Key Price Indicators
- 5.11.2 Price Structure
- 5.11.3 Price Trends
- 5.12 Key Market Drivers and Success Factors
- 6 Performance of Key Regions
- 6.1 China
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 United States
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 India
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Europe
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Indonesia
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 6.6 Malaysia
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
- 6.7 Brazil
- 6.7.1 Market Trends
- 6.7.2 Market Forecast
- 6.8 Others
- 6.8.1 Market Trends
- 6.8.2 Market Forecast
- 7 Market by Oil Type
- 7.1 Palm Oil
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Soybean Oil
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Sunflower Oil
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Canola Oil
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Coconut Oil
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 Palm Kernel Oil
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
- 8 Market by Application
- 8.1 Food Industry
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Biofuels
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Others
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 9 Competitive Landscape
- 9.1 Market Structure
- 9.2 Key Players
- 10 Vegetable Oil Manufacturing
- 10.1 Product Overview
- 10.1.1 Palm Oil
- 10.1.2 Canola Oil
- 10.1.3 Coconut Oil
- 10.1.4 Soybean Oil
- 10.2 Detailed Process Flow
- 10.2.1 Palm Oil
- 10.2.2 Canola Oil
- 10.2.3 Coconut Oil
- 10.2.4 Soybean Oil
- 10.3 Various Types of Unit Operations Involved
- 10.3.1 Palm Oil
- 10.3.2 Canola Oil
- 10.3.3 Coconut Oil
- 10.3.4 Soybean Oil
- 10.4 Mass Balance and Raw Material Requirements
- 10.4.1 Palm Oil
- 10.4.2 Canola Oil
- 10.4.3 Coconut Oil
- 10.4.4 Soybean Oil
- 11 Project Details, Requirements and Costs Involved
- 11.1 Land Requirements and Expenditures
- 11.2 Construction Requirements and Expenditures
- 11.3 Plant Layout
- 11.4 Plant Machinery
- 11.5 Machinery Pictures
- 11.6 Raw Material Requirements and Expenditures
- 11.7 Raw Material and Final Product Pictures
- 11.8 Packaging Requirements and Expenditures
- 11.9 Transportation Requirements and Expenditures
- 11.10 Utility Requirements and Expenditures
- 11.11 Manpower Requirements and Expenditures
- 11.12 Other Capital Investments
- 12 Loans and Financial Assistance
- 13 Project Economics
- 13.1 Capital Cost of the Project
- 13.2 Techno-Economic Parameters
- 13.3 Product Pricing and Margins Across Various Levels of the Supply Chain
- 13.4 Taxation and Depreciation
- 13.5 Income Projections
- 13.6 Expenditure Projections
- 13.7 Financial Analysis
- 13.8 Profit Analysis
- 14 Key Player Profiles
- 14.1 Archer-Daniels-Midland Company
- 14.2 Bunge Limited
- 14.3 Cargill, Incorporated
- 14.4 Louis Dreyfus Company BV
- 14.5 Wilmar International Ltd.
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