Fortified Edible Oils Market Size, Share, And Trends Analysis 2032

Fortified Edible Oils Market Size

The global fortified edible oils market size was worth around USD 12.01 billion in 2023 and is predicted to grow to around USD 16.95 billion by 2032 with a compound annual growth rate (CAGR) of roughly 3.9% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the fortified edible oils market on a global and regional level.

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Fortified Edible Oils Market: Overview

Edible oils are enhanced with added micronutrients and are known as fortified edible oils. These oils contain an appropriate concentration of different vitamins like Vitamin A, D, and E, among others. These oils are mostly manufactured and consumed to curb the problem of undernourishment. Thus, these have been gaining importance across the world over the last few years.

The global fortified edible oils market is expected to grow significantly over the forecast time period. The increasing vitamin deficiency issues like vitamin A deficiency (VAD) due to the busy lifestyles of the people, which is driving the sales of fortified edible oils. Moreover, the growing number of collaborations between public and private companies for curbing malnutrition by launching different fortified oils is also boosting the fortified edible oils market. However, fortified edible oils are priced a little higher than normal edible oils, which may act as a restraint for the fortified edible oils market. Technological advancements and rising focus on product development techniques are expected to generate new opportunities in the fortified edible oils market.

The study includes the drivers and restraints of the fortified edible oils market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the fortified edible oils market on a global level.

In order to give the users of this report a comprehensive view of the fortified edible oils market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.

Fortified Edible Oils Market: Segmentation

The study provides a decisive view of the fortified edible oils market by segmenting it based on product type, micronutrient, distribution channel, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By product type, the market includes rice bran oil, sunflower oil, palm oil, soybean oil, corn oil, olive oil, canola oil, and others. Soybean oil currently holds the largest market share. Olive and canola oils are also showing substantial growth potential in the market, owing to the increasing health-consciousness of consumers.

By micronutrient, the global fortified edible oils market is divided into vitamin A, D, E, and others. Vitamin A dominates the market, due to it being more deficient among the common masses. This segment is expected to dominate the market in the future as well. Vitamin D and E are expected to show substantial growth in the years ahead.

On the basis of distribution channel, the market comprises B2B, specialty retails, hypermarkets/supermarkets, e-commerce, and others. Hypermarkets/supermarkets dominate the market, as they rank at the top in terms of consumer preference for their tangibility. In the e-commerce segment, online sales have shown substantial growth in recent years due to its convenience.

Fortified Edible Oils Market: Report Scope

Fortified Edible Oils Market: Regional Analysis

The regional segment includes the historic and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. 

The Middle East and Africa and Latin America dominate the global fortified edible oils market. These regions’ global domination can be attributed to these oils prominence in the regional cuisines. This domination is expected to continue over the estimated timeline as well. Europe and North America are expected to show substantial growth rates, due to the growing preference for healthy food ingredients that helps in the overall health improvement.

Fortified Edible Oils Market: Competitive Players

Some key players in the fortified edible oils market are:

• Bunge Limited
• Ruchi Soya Industries
• Conagra Brands
• Archer Daniels Midland
• Adani Wilmar

The Fortified Edible Oils Market Segmented Into:

Global Fortified Edible Oils Market: Product Type Analysis

• Palm Oil
• Soybean Oil
• Sunflower Oil
• Olive Oil
• Corn Oil
• Canola Oil
• Rice Bran Oil
• Others

Global Fortified Edible Oils Market: Micronutrient Analysis

• Vitamin A
• Vitamin D
• Vitamin E
• Others

Global Fortified Edible oils Market: Distribution Channel Analysis

• Hypermarkets/ Supermarkets
• B2B
• E-Commerce
• Specialty Retail
• Others

Global Fortified Edible oils Market: Regional Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa