Europe edible oil packaging market is expected to grow at a CAGR of 4.1% between 2021 and 2031. South Asia edible oil packaging market is expected to grow at a CAGR of 8.6% during 2021-2031. the next decade.
NEWARK, Del, 01 Dec. 2022 (GLOBE NEWSWIRE) — The global edible oil packaging market is expected to grow at a CAGR of 5.8% between 2021 and 2031. Changing end-consumer lifestyles have driven exponential demand for various consumables with preservatives. additional and longer duration. Ready-to-eat foods are also experiencing exponential demand. In fact, end consumers accept the nutritional benefits of edible oils, such as they are rich in micronutrients, bioactive substances like alkaloids and contribute to the proper functioning of the nervous system and brain. Soybean oil has been considered a good source of nutrition, but people with soy allergies might opt for rice bran oil instead.
Government authorities are reducing tariffs on the import and export of oils by categorizing them as “essential consumable items”. For these reasons, the Indian government has sent a security pass to the exports of edible oils but for mustard oil, that too, without any quantitative ceiling.
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Out of concern for the environment, the main players are betting on ecological alternatives to toxic polluting raw materials. As such, significant investments are underway with respect to biodegradable substitutes. This would help safeguard the ecosystem. Adopting sustainable raw materials paves the way for lucrative opportunities for OEMs, helping them expand the consumer base.
The idea of bulk packaging solutions is launched, in order to reduce overhead. Large packaging solutions, including drums, drums and jerry cans, capable of carrying more than 5 liters of edible oil, are mainly made of plastic and steel.
At the same time, the fact that there is non-uniformity with regards to the regulations set by governments around the world regarding compliance with food safety standards may restrain the market for edible oil packaging during the forecast period. Low-income regions face more shock as governments have to work on these rules on a war footing. Future Market Insights reviewed these facts with future insights in its latest market study titled “Edible Oil Packaging Market”. Analysts and consultants are there to execute it through primary, secondary and tertiary research.
Key Takeaways from Edible Oil Packaging Market
North America holds the largest market share. This could be attributed to the fact that the United States is at the forefront of sales of edible oil packaging solutions. Under the Federal Food Drug and Cosmetic Act, materials used to package food products must meet safety standards set by the US FDA. As such, the need for food grade materials to produce edible oil packaging solutions is driving the edible oil packaging market. The current scenario is such that high density polyethylene (HDPE), aluminum and glass are approved as “safe” by the US FDA.
Europe is dominated by the UK due to major participants opting for innovative edible oil packaging solutions made from sustainable raw materials offering full recyclability. Germany comes second here.
When it comes to Asia-Pacific, China and India rule the roost with large-scale soybean oil production and consumption.
In December 2020, Vetropack Holding SA completed the acquisition of Moldovan Glassworks, in order to strengthen its market presence.
Colep Packaging, in November 2020, received the ‘Gold Award’ for ‘Food-Three-Piece’ in 2020.
Sonoco provides rigid plastics and paper as well as flexible packaging options. Design innovation is also on the anvil.
“With the increasing adoption of various packaged foods coupled with the growth of the food processing industry, the global edible oil packaging market is expected to sustain in the coming period,” says a Future Market Insights analyst.
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What does the report cover?
The research study is based on the type of packaging (bottles, sachets, jerry cans, drums, drums, bag-in-boxes, etc. (liquid cartons)), by material (plastic, glass, metal (aluminum) and paper), by capacity (50-500 ml, 501-1000 ml, 1001-5000 ml and more than 5000 ml) and by type of oil (soybean oil, coconut oil, olive oil, cottonseed, sunflower oil, peanut oil, mustard oil, and the like (palm oil, rice bran oil, corn oil).
Liquid bottles, jars, boxes, jerrycans, sachets are increasingly used for packaging edible oils.
Edible Oil Packaging Market by Category
By type of packaging:
50 to 500ml
501 to 1000ml
1001 to 5000ml
By type of oil:
Sunflower seed oil
Others (palm oil, corn oil, rice bran oil, etc.)
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1.1. Global Market Outlook
1.2. Market analysis
1.3. Analysis and recommendations
2. Market Overview
2.1. Market coverage
2.2. Market definition
3. Key Market Trends
3.1. Key trends impacting the market
3.2. Product Innovation Trends
4. Key success factors
4.1. Product adoption analysis
4.2. USP/Product Features
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