Edible Oils Market to Extent an Assessed Value of US$ 100 Billion by 2024

Edible Oils Market
Edible oils are used across the globe for cooking various food items. Meanwhile, increasing demand
for fried snacks and food worldwide is resulting in the growing demand for edible oils. Hence,
manufacturers are adopting new techniques to increase the production and provide a better quality
of edible oils. The increase in health-conscious population across the globe is also resulting in the
rising demand for healthy oils such as olive oil and canola oil. The demand for low-fat, low-calorie,
and low-cholesterol oils is also increasing with rising health and fitness trends. Vegetable oils
including sunflower, peanut, corn, coconut are also witnessing an increase in demand. Increasing
demand for organic and natural i.e., unrefined and unprocessed edible oils is changing the way the
manufacturers are producing edible oils.
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Manufacturers are also investing in the research and development to provide a trans-fat free edible
oil. Edible oils are also being used in various industries for producing products including
mayonnaise, biofuels, fried-foods, bio-fuels, and pharmaceuticals. Vegetable oils are also being
widely used in biodiesel industry products. Considering the sustainability, companies are also
introducing non-GMO oils, especially in the European countries. Agribusinesses are also
considering co-products from the process of oilseed crush to be used in other production processes.
As per the report by Persistence Market Research (PMR), the global edible oils market is
anticipated to witness steady growth during the forecast period 2017-2024. The global market for
edible oils is also estimated to bring in more than US$ 100 Billion revenue.
Palm Oil to Witness Significant Growth in the Global Edible Oils Market : Based on the type of
edible oils, palm oil is expected to witness the highest growth during the forecast period. By the end
of 2024, the global market for edible oils is projected to exceed US$ 40 Billion revenue.
Meanwhile, soybean oil and sunflower oil are also likely to witness growth in the coming years. On
the basis of end user, the retail sector is likely to account for the highest share in the global market
for edible oils. The retail sector is also estimated to surpass US$ 60 Billion revenue towards the end
of 2024.
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Asia Pacific to Remain Dominant in the Global Edible Oils Market : Region-wise, Asia Pacific is
likely to remain dominant in the global market for edible oils. Towards 2024 end, Asia Pacific is
projected to bring in more than US$ 50 Billion revenue. Growth in food service industry and
packaged food products in Asia Pacific is driving the market growth. Production of edible oils is
also increasing in the Asia Pacific as the demand from various food processing companies is also
increasing. The demand for edible oils is growing in China and India, especially in the food and
beverages industry. The demand for canola and soybean edible oil is also increasing in North
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Leading Companies in the Global Market for Edible Oils : Leading companies operating in the
global edible oils market given in the report are Ruchi Soya Industries Ltd, Archer Daniels Midland
Company, The Adani Wilmar Ltd., Beidahuang Group, Associated British Foods plc., Bunge
Limited, Fuji Vegetable Oil, Inc., Borges Mediterranean Group, Adams Group, and Cargill