The global vegetable oils market size is estimated to reach USD 3,700 million by 2026, growing at a CAGR of 6.1% during 2021-2026.
HYDERABAD, TELANGANA, INDIA, Sept. 26, 2022 /EINPresswire.com/ — The global vegetable oil market size is expected to reach USD 3,700 million by 2026 growing at a CAGR of 6.1% over the period 2021-2026 . Vegetable oils are extracted from various plant seeds such as palm, sunflower, mustard, and many others. Vegetable oils are a mixture of fatty acid triglycerides which are esters of glycerol and are chemically known as fat. Vegetable oil extracted from soybeans is widely used for cooking oils. In the food industry, the addition of oil in hydrogen is called hydrogenation and it helps to increase the shelf life of food. Rising awareness of people’s health and increasing application of vegetable oil in various industries are the major factors driving the growth of this market. In addition, increasing research and development activities in the food and beverage industry and increase in government initiatives are expected to further strengthen the overall market demand for the global vegetable oils market during the period 2021-2026 .
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Key points to remember:
This IndustryARC report on the global vegetable oil market highlights the following areas –
1. Geographically, in 2020, North America led the global vegetable oil market owing to increasing accessibility by a diverse number of food and beverage manufacturers, increase in research and advances in the food industry and increased government initiatives.
2. Rising awareness of people’s health and growing application of vegetable oil in various industries is likely to contribute to the growth of the global vegetable oil market.
3. A detailed analysis of the strength, weakness and opportunities of key manufacturers operating in the market will be provided in the global vegetable oils market report.
4. Growing environmental concerns and high production costs are expected to create barriers for the global vegetable oil market.
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1. The global vegetable oil market based on type can be segmented into palm oil, soybean oil, rapeseed oil, sunflower oil, olive oil and others. The palm oil segment is the leading revenue generating segment in 2020. This is mainly due to the increasing health benefits and the limited price of palm oil.
2. Asia-Pacific dominated the vegetable oil market with a large share of 40% in 2020. This is due to the increasing accessibility of a large number of food and beverage manufacturers, increasing from research and advances in the food industry and to increasing government initiatives.
3. The global vegetable oils market based on type of packaging can be further segmented into cans, bottles, sachets and others. Sachets segment records the highest vegetable oil market share in 2020. This is due to the fact that storage and usage are easy and are widely used as the packs contain refills which increase the growth of this market .
The top 5 players in the global vegetable oil industry are:
1. The Manischewitz Company
2. Trademarks Conagra, Inc.
3. Waitrose & Partners
4. The J. M. Smucker Company
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