Vegetable Oil Market Expected To Grow At Around 7.2% CAGR During 2032

According to Zion Market Research, the global Vegetable Oil Market was worth USD 289.1 Million in 2023. The market is forecast to reach USD 580.44 Million by 2032, growing at a compound annual growth rate (CAGR) of 7.2% during the forecast period 2024-2032.

The key players actively participating in the global vegetable oil market consist of BP, Total S.A., Archer Daniels Midland Co., Shell, Cargill Agricola S.A., Bunge North America Inc., Dow Agrosciences LLC, Fuji Oil, Savola Group, and United Plantations Berhad.

Rising Vegetable Oil Demand From Biofuel Industry Expected To Surge The Global Market Growth

The key factors driving the growth of the global vegetable oil market comprise the rising vegetable oil consumption within the food industry as they offer a trans-fat-free substitute. Further, the growing requirement of vegetable oils from the biofuel sector as feedstock to manufacture biofuel is also another main factor fueling market growth. In addition, the rising health advantages of a few vegetable oils are also projected to drive the growth of the global vegetable oil market.

Nevertheless, the changing cost of vegetable oils is anticipated to hamper the market expansion as it is causes dearth of working capital needed to continue the processes of production. however, palm oil as a dependable alternative to trans-fat within the cooking segment is expected to create potential avenues for the expansion of the vegetable oil market worldwide during the coming period.

By Product Type, Sunflower Oil Segment Expected To Account For Major Share In The Market

The key vegetable oils that have commercial applications consist of castor oil, palm oil, sunflower oil, and soybean oil. Among these, the sunflower oil segment is anticipated to capture a considerable share in the global vegetable oil market owing to its health advantages like cardiovascular advantages, assists in avoiding arthritis, colon cancer, and asthma. Thereby, the market has been achieving significance as a key healthcare product as it also assists in cell structure repair besides abovementioned advantages. However, strict biofuel regulations in the US and Europe over availability of soybean oil have redirected this market to other vegetable oils like palm kernel, palm, and sunflower oils.

The Asia Pacific Expected To Dominate The Global Vegetable Oil Market During The Forecast Period

Regionally, the global vegetable oil market is anticipated to be ruled by the Asia Pacific, with the biggest stake of vegetable oil production and consumption held by China. Although the production volume is sky-scraping, the consumption surpasses production, causing elevated import volumes in comparison to the export volumes. The Chinese vegetable oil market mainly includes rapeseed, olive oil, soybean, palm oil, peanut, and sunflower oil. Over the last few years, palm oil and soybean had the biggest stakes in the Chinese vegetable oil market.

Browse the full “Vegetable Oil Market -By Packaging (HDPE Cans, PET Bottles, Tetra Packs, Tin-Plate Containers, Glass Bottles, And Flexible Plastic Pouches); By Product Type (Sunflower Oil, Palm Oil, Olive Oil, Soybean Oil, Canola Oil, Peanut Oil, Coconut Oil, And Others (Cottonseed Oil, Etc.)); By End-User (Food Services Industry, Food Processing Industry, Cosmetic Industry, Pharmaceutical Industry, And Others (Fuels, Etc.)); By Application (Industrial, Food, And Feed); By Distribution Channel (Offline And Online); And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2024 – 2032.” Report at https://www.zionmarketresearch.com/report/vegetable-oil-market

The global vegetable oil market is segmented as follows:

By Product Type

• Palm oil
• Sunflower oil
• Canola oil
• Soybean oil
• Coconut oil
• Peanut oil
• Olive oil
• Others (cottonseed oil, etc.)

By Packaging

• PET Bottles
• HDPE Cans
• Tin-Plate Containers
• Tetra packs
• Flexible Plastic Pouches
• Glass Bottles

By Application

• Food
• Industrial
• Feed

By End-User

• Food Processing Industry
• Food Services Industry
• Pharmaceutical Industry
• Cosmetic Industry
• Others (Fuels, etc.)

By Distribution Channel

• Online
• Offline

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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