Global Cooking Oil Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Global Cooking Oil Market Overview :
“The global cooking oil Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global cooking oil market report has been segmented on the basis of Oil type, distribution channel, and region.
Cooking oil is basically derived primarily from plant that are used in baking frying and other type of cooking. It can also be in flavourings that does not involve heating directly such as for dressing etc. On an average, a bottle of cooking oil contains vegetable oil, with no additives, preservatives, or special flavourings.
Various technology advances in the production area have increased the supply through yield improvements and productive land expansion. Changes in availability and prices of different oil product are primarily due to competing oil uses. In addition, consumer preference and regulations in certain countries have changed the supply and demand scenario.
Key driver of the global cooking oil market is increasing food consumption in Asia Pacific region especially in countries such as India and China and part of South East Asia. In addition to growing processed food industry, increasing number of fast food joints and quick service restaurant and consumption of bakery and confectionery products are expected to drive the growth of the market during the forecast period.
Though health concerns related to excessive consumption of fats and oils and regulation regarding labels and safety issues are expected to hamper the growth of the market to a certain extent.
The latest trend observed in the global cooking oil market is that key players are adopting new manufacturing technology to increase the production of edible oils such as cold pressing. In addition, increasing adoption of e-commerce platform to purchase grocery products which includes oil products are high among generation Z populace, decreasing oil prices are some of the other trends witness in the global cooking oil market.
The market in Asia Pacific is expected to dominate market of the global cooking oil market, due to high adoption in countries such as India, China coupled with rising disposable income of people in this region.
The market in Asia Pacific is expected to be an emerging market for cooking oil, owing to growing population and increase consumption of proceed food products which is fuelling the growth of market. Asia Pacific cooking oil market is projected to register highest CAGR in the next five years.
Global Cooking Oil Market Segmentation:
Segmentation by oil type:
- Palm Oil
- Soybean Oil
- Canola Oil
- Sunflower Oil
Segmentation by Distribution Channel:
- Hypermarket and Supermarket
- Grocery stores
- Convenient stores
- Food speciality stores
- Food service Industry
- Food Processing Industry
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Unilever Plc
- Cargill, Inc.
- International Foodstuff Company Limited
- United Plantation Berhad
- Wilmar International Limited
- Archer Daniels Midland Company
- Associated British Foods Plc
- Bunge Limited
- Ajinomoto Co., Inc.
- Congra Foods Inc.
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