The Global Market for Vegetable Oils is Projected to Exceed 200 Million Metric Tons by 2020

Robust Demand for Palm Oil and Popularity of Organic & Unprocessed Oils Drive the Vegetable Oils Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Vegetable Oils market. The global market for Vegetable Oils is projected to exceed 200 million metric tons by 2020, driven by surging popularity of healthy, organic, and unprocessed/unrefined vegetable oils, and robust demand for palm oil worldwide.

Vegetable oil refers to oil produced from crushing oilseeds (sunflower, rapeseed, corn, peanut, and others), palm and palm kernel, coconut, and cottonseed, for applications in food and other industries. With growing consumer focus on health and wellness, the vegetable cooking oils market globally is experiencing strong demand for improved, nutritional and healthier oils. Growth in the market is attributed to various factors including availability of broad range of products at reasonable price points, vast product offerings with different tastes and textures, and growing health benefits of few oils over other vegetable cooking oils. Developing markets offer opportunities in the form of greater potential for higher market penetration and growth in per capita consumption, while in the developed markets, innovation in new flavors and healthy ingredients will help spruce up consumption.

Healthy growth is projected for the global vegetable oils market in the coming years driven by rising demand for healthy, organic and natural (unprocessed and unrefined) cooking oils against the backdrop of public concerns over health and food safety issues. Vegetable oils with desirable qualities including low-fat, low-cholesterol, and low-calorie content, are poised to register strong growth and support market expansion. Emerging non-edible applications, increasing R&D initiatives/projects to offer Trans-fat free soybean oil; surging popularity of olive oil; the healthy Trans-fat free alternative provided by sunflower oils; and growing preference for canola oil from the food service industry are also expected to benefit market prospects in the next few years. Robust demand for palm oil represents another important growth driver. Key factors driving increasing consumption of palm oil include its attribute of being the cheapest form of vegetable oil; rising demand for sustainable palm oil in various end-use sectors; surging production in Indonesia and Malaysia; increasing demand from the food sector for use as margarine, bakery fat, frying fat, and cooking oil; high yields produced from a hectare of palm oil plantation; and growing application as a feedstock in biofuel production.

As stated by the new market research report on Vegetable Oils, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 5.2% over the analysis period. Major factors driving market growth in the region include low per person consumption of vegetable oils, ballooning population and the corresponding growth in demand for food commodities, improved retailing network, changing dietary habits, rapid urbanization, steadily growing economies, improving living standards, increasing crop yields and oil production, changes in composition of vegetable oil consumption in terms of different varieties, changing facets of consumer health concerns, and expanding non-edible applications.

Key players covered in the report include Archer Daniels Midland Company, Bunge North America, Inc., Richardson Oilseed Limited, Carapelli Firenze S.p.A., Cargill, Incorporated, ConAgra Foods, Inc., COFCO Limited, Deoleo, Dow AgroSciences LLC, E.I. du Pont de Nemours & Co., Golden Agri-Resources Ltd., J-Oil Mills Inc., IOI Group Berhad, Marico Limited, PT Astra Agro Lestari Tbk, Sime Darby Sdn Berhad, United Plantations Berhad, and Wilmar International Limited, among others.

The research report titled “Vegetable Oils: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major market participants.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico, and Rest of Latin America). Major types of vegetable oils analyzed in the report include Soybean Oil, Olive Oil, Canola Oil, Sunflower & Safflower Oil, Corn Oil, Palm Oil, Coconut Oil, and Others.

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