Dublin, May 20, 2022 (GLOBE NEWSWIRE) -- The "Vegetable Oils - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Vegetable Oils Market to Reach 258.4 Million Metric Tons by the Year 2026
Amid the COVID-19 crisis, the global market for Vegetable Oils estimated at 199.1 Million Metric Tons in the year 2020, is projected to reach a revised size of 258.4 Million Metric Tons by 2026, growing at a CAGR of 4.4% over the analysis period. Palm, one of the segments analyzed in the report, is projected to grow at a 5.2% CAGR to reach 101.8 Million Metric Tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Soybean segment is readjusted to a revised 4.5% CAGR for the next 7-year period.
This segment currently accounts for a 29.6% share of the global Vegetable Oils market. In developing countries since the price remains the key factor influencing purchasing decisions, palm oil is witnessing a significant spurt in demand both because of its cost effectiveness and widespread availability. Rising applications in the processed foods industry due to its good emulsifying ability and neutral flavor are benefitting the market for soybean oil.
The U.S. Market is Estimated at 17.5 Million Metric Tons in 2021, While China is Forecast to Reach 55.1 Million Metric Tons by 2026
The Vegetable Oils market in the U.S. is estimated at 17.5 Million Metric Tons in the year 2021. The country currently accounts for a 8.28% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of 55.1 Million Metric Tons in the year 2026 trailing a CAGR of 5.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR while Rest of European market (as defined in the study) will reach 57.9 Million Metric Tons by the end of the analysis period.
In North America, vegetable oils consumption is high in the production of biofuels and also in the manufacture of bio-based products. Consumer awareness about environmental impact of products that are petrochemicals-derived is high in the market. This strengthens demand for vegetable oils. In Europe, rapeseed oil is the most consumed vegetable oil primarily because it is abundantly produced in the region. Rapeseed oil is widely used in food, animal feed and biodiesel industries. Large population, urban sprawl, growing demand for biodiesel and other non-food uses such as oleo-chemical usage, and large volumes of palm oil production in Indonesia and Malaysia are key growth drivers in Asian vegetable oils market.
Canola Segment to Reach 38.8 Million Metric Tons by 2026
Oilseed rape (canola) produces high value vegetable oil, has a healthier composition of unsaturated fats, can be grown in crop rotation with corn or wheat and supports environmentally sustainable farming. Although production of Canola seeds is less in the US, consumption is strong. In the global Canola segment, USA, Canada, Japan, China and Europe will drive the 3.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of 22.4 Million Metric Tons in the year 2020 will reach a projected size of 28.2 Million Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 8.1 Million Metric Tons by the year 2026, while Latin America will expand at a 6% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Food Industry: Most Important Application Market for Vegetable Oils
Growing Preference for Healthy, Organic & Unprocessed Cooking Oils
Growing Awareness about Saturated Fatty Acids & Omega-6 in Vegetable Oils
Fatty Acid Profiles of Major Cooking Oils - Butter, Olive, Coconut, Palm, Safflower, Corn, Soybean, and Canola
Growing Health Consciousness & Demand for Convenience Foods
Rise of the Vegetarianism & Customization to Local Tastes
Increasing Product Diversity & Broad Range of New Options
Vegetable Oil Companies Offering more Healthful Options amid the Pandemic
Biofuels: The New Growth Avenue for Vegetable Oils
Global Biodiesel Production (Million Tons): 2013, 2015, 2017, 2019 & 2021
Global Biofuels (Fuel Ethanol and Biodiesel) Market by Product Type (2021): Percentage Breakdown of Volume Consumption for Biodiesel and Fuel Ethanol
Global Biofuels Production by Region/Country (1995-2025): Breakdown of Volume Production (Million barrels per day of oil equivalent) for Brazil, EU, United States, and Others
Average Biofuel Yields of First Generation Feedstock
Favorable Blend Mandates Set to Enhance Vegetable Oil Demand in Biofuel Sector
Vegetable Oils Aim to Widen Role in Industrial Applications
Established Role of Vegetable Oils in Personal Care Applications
Palm Oil: Largest & Fastest Growing Product Segment
Global Per Capita Palm Oil Consumption (Kilograms) for Major Countries: 2016 & 2020
Diverse Food and Non-Food Applications Lend Traction to Market Demand
Breakdown of Palm Oil Volume Consumption (in %) in Food and Non-Food Sectors (2010 & 2020)
RSPO's Novel Initiatives Aim to Resolve Biodiversity & Sustainability Issues Prevalent in Palm Oil Industry
Leading Producers of Palm Oil Worldwide: Approximate Percentage Share of Production of RSPO
Increasing R&D Emphasis Elevates Prospects of Soybean Oil against Competing Oils
New Generation Soya Bean Oil Formulations Come to the Fore
Rising Adoption in Food Service Sector Boosts Uptake of Canola Oil
Robust Image of Sunflower Oil as a Healthy Alternative to TFAs Spurs Demand
Backed by Incredible Nutritional Benefits, Coconut Oil to Sustain Momentum
Despite Being the Most Expensive of All Vegetable Oils, Olive Oil Continues to Experience High Demand
Health and Environmental Benefits Promote Demand for Maize Oil
Demographic Trends Strongly Favor Future Growth in World Vegetable Oil Market
World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050P
Large Middle Class Segment
Global Middle Class Population (in Millions) and as a Percentage of Total Population: 2005, 2015, 2025 & 2035
Despite Challenges, Global Vegetable Oil Refining Offers Lucrative Opportunities
Innovations & Research Findings Strengthen Market Prospects
Steady Proliferation of Technology for Boosting Oilseed & Vegetable Oil Output
R&D Efforts Enable the Launch of Zero Trans-Fats Oils
Ohio State University Study Reveals Potential Heart Health & Lowered Diabetes Risk Benefits of Vegetable Oils with High Linoleic Acid Levels
Italian Researchers Identify Positive Effects of Extra Virgin Olive Oil on Meat Lipids Digestion
Cargill & BASF Develop Canola Oil with Beneficial Omega-3 EPA and DHA
Dow Rolls Out Omega-9 Sunflower Oil for Food Applications
Steep Rise in Prices Emerges as a Major Challenge
Rising Concerns Over GMO Contamination: A Major Issue
Oils Derived from Non-Traditional Sources: An Emerging Threat
Vegetable Oils: An Evolutionary Scan
Chemical & Physical Properties of Vegetable Oils
Vegetable Oils: Product Classification
Edible Vegetable Oils: Production Process
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
AarhusKarlshamn (AAK AB)
Aceites Borges Pont S.A.
ACH Food Companies, Inc.
Archer Daniels Midland Company
Avena Nordic Grain Oy
Bunge North America, Inc.
Bunge Loders Croklaan Group BV
C. Thywissen GmbH
Carapelli Firenze S.p.A.
Golden Agri-Resources Ltd.
PT Smart Tbk
IOI Group Berhad
J-Oil Mills, Inc.
PT Astra Agro Lestari Tbk
P. T. Musim Mas
Richardson Oilseed Limited
Royal Smilde Foods
Sime Darby Plantation Sdn Bhd
The J. M. Smucker Company
The Nisshin OilliO Group, Ltd.
Ventura Foods, LLC
Wilmar International Limited
Adani Wilmar Limited (AWL)
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