Edible Oil & Fats Market Share, Size, Trends, Industry Analysis Report, By Product (Edible Oil, Edible Fats), By Source, By Form, By End Use, By Distribution Channel, By Region, Segments & Forecast, 2023 – 2032

Edible Oil & Fats Market Share, Size, Trends, Industry Analysis Report, By Product (Edible Oil, Edible Fats), By Source, By Form, By End Use, By Distribution Channel, By Region, Segments & Forecast, 2023 – 2032

The global edible oil and fats market size is expected treach USD 361.88 billion by 2032, according ta new study by Polaris Market Research. The report “Edible Oil and Fats Market Share, Size, Trends, Industry Analysis Report, By Product (Edible Oil, Edible Fats), By Source, By Form, By End Use, By Distribution Channel, By Region, Segments and Forecast, 2019 – 2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

Synthetic Rubber Market is expected twitness significant growth over the forecast period owing tthe wider use of edible fats and oils in preparing food and beverage. The increasing awareness towards healthier substitutes over trans-fat, demand for a more nutritious and balanced diet among consumers, and increasing disposable income have increased the demand for high-quality edible oil and fats in the last few years.

Further, the favorable benefits of vegetable oils treduce cardiovascular disorders and likely reducing the possibility of breast cancer have remained a favorable driver for the market among health-conscious consumers.

Edible oil and fats are majorly obtained from raw materials such as fleshy fruits (Olive and Palm), animal by-products, and oilseeds. In edible form, these ingredients are rich in essential micrand macronutrients, making them suitable for food preparation. Apart from providing a rich source of energy (around 9 kilocalories per gram), fats and fatty acids are alsexamined timpart various other benefits in early growth and development and nutrition-related chronic disease. For example, n-3 and n-6 fatty acids have remained beneficial for the prevalence and severity of diabetes, cardiovascular disease, cancer, and age-related disease.

Besides the major applications of edible oils in preparation of various foods, a huge investment has been witnessed in developing novel alternative oils such as algal, yeast, and insect-derived oils. Some of these products are now used in various non-food applications such as cosmetics, shampoo, laundry detergent, biofuels, and animal feeds.

The major limiting factors for the market can be characterized by concerns regarding the negative impact on the health of excessively using oil and fats remain tinhibit some market segments. Further, various stringent regulations by food regulatory authorities tensure consumers' safety have alsremained a challenge in different market regions.

The growing use of vegetable oil and fats in the food industry, especially in emerging economies such as China, India and others, can be the market's primary growth factor. Increasing working professionals are witnessing a hectic lifestyle which changes the diet patterns of the consumers and increases demand for fast and convenience food items, which are largely depended on vegetable oils for the preparation of food items.

Furthermore, the wider applications of edible ingredients in various end-use industries remained the second most important factor for the growth of the market. Dermal ointments, creams, and other anti-inflammatory products are some other end-uses, that influence the demand for edible oil and fats in the forecast period.

Report Highlights

The covid-19 pandemic moderately impacted the edible oil and fats market in 2020 - 2021. Besides having a negative impact on the demand and supply side of the market, it alscaused a shift in consumer behavior from dine-out tself-cooking, which increases the demand for these edible ingredients tsome extent.

The Palm Oil sub-segment accounted for the largest market share in 2022. Major factors can be attributed tits various essential nutrients such as selenium, magnesium, vitamin E, and phytosterols. The margarine sub-segment accounted for the fastest growth rate due tfactors such as adopting veg-derived margarine as a substitute for butter in markets of the U.K. and Germany and preference from glutamic disorders and lactose intolerant consumers.

On the basis of end-use, food, and beverage accounted for the largest market share due tincreasing urbanization and penetration of cross-cultural food players across the regions. This resulted in the establishment of various food outlets offering a wider range of foods that requires a huge volume of edible oils for preparation.

The online mode of distribution is expected tgrow at the quickest rate owing tfavorable benefits provided by e-commerce channels, such as faster doorstep delivery, coupon benefits, cash-on-delivery, discounts, and easy order options.

Asia-Pacific Region is accounted for the largest market share in 2022, which is supported by the presence of various key vegetable oil manufacturing and consuming countries such as Indonesia, Malaysia, China, India, and others.

Polaris Market Research has segmented the Edible Oil and Fats Market report based on product, source, form, end-use, distribution channel, and region:

Edible Oil and Fats Market, Product Outlook (Volume, Kiloton; Revenue - USD Billion, 2019 - 2032)

Edible Oil

Sunflower Oil

Soyabean Oil

Olive Oil

Palm Oil

Coconut Oil

Vegetable Oils

Others

Edible Fats

Fats

Butter

Margarine

Tallow & Grease

Lard

Others

Edible Oil and Fats Market, Source Outlook (Volume, Kiloton; Revenue - USD Billion, 2019 - 2032)

Animal

Vegetable

Edible Oil and Fats Market, Form Outlook (Volume, Kiloton; Revenue - USD Billion, 2019 - 2032)

Solid

Liquid

Edible Oil and Fats Market, End-Use Outlook (Volume, Kiloton; Revenue - USD Billion, 2019 - 2032)

Food and Beverage

Biofuel and Energy

Personal Care and Cosmetics

Pharmaceuticals

Chemicals

Others

Edible Oil and Fats Market, Distribution Channel Outlook (Volume, Kiloton; Revenue - USD Billion, 2019 - 2032)

Offline

Online

Edible Oil and Fats Market, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East and Africa

UAE

Saudi Arabia

Israel

South Africa