Global Plant-Based Oils Market Forecast, Trend Analysis And Competition Tracking - Market Insights: 2015 – 2031

Global Plant-Based Oils Market Outline

The global Plant-Based Oils market was valued at US$ 81.4 billion in 2020, and is projected to grow at a CAGR of 5.2%.

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Even in the modern age of technology, there are few things that humans cannot do better than machines. One of these is extracting oil from raw plant material, which is one of the most labor-intensive and time-consuming parts of refining. The Industrial Revolution has sped up the process by using steam power to dramatically increase extraction rates, but only about 6% of the world's vegetable oil production still relies on this method.

A new process has been discovered that extracts oil from plants. Researchers have found the best way to extract oil from plants is to force them through a tube at high enough pressure to rupture their cell walls without damaging the integrity of the desired fatty acid. Next, under lower pressure, the oil is extracted into a container. This process yields more oil than conventional methods, and can be done on a smaller-scale because it requires minimal equipment.

The plant-based oils that we use today typically come from soybeans and rapeseeds, and these crops produce much less pollution than traditional petroleum-based oil.

The debate of whether the United States should promote the development of a plant-based industrial oil industry has been raging for decades. On one hand, proponents of this movement argue that it would provide relief to the environment and help mitigate climate change. On the other hand, opponents of developing an alternative to traditional oil argue that it would be more expensive for consumers and hinder national security efforts.

Industrial processes continue to rely on plant-based oils because they are a workable strategy in a world where fossil fuel is scarce. Though the oil economy has shifted from the need for crude oil, to biofuels, and finally to renewable or alternative energies, these 3 transitions have been slow because of the many different variables involved in pinpointing an economical replacement.

In a world where global warming is a reality, it's important to consider alternative fuel sources.

The release of methane from livestock and the widespread use of processed oils in industrial processes have led scientists to explore using plant-based oils in order to mitigate the effects of climate change.

It has been found that due to their high smoke points, plant-based oils can be used for a variety of purposes in the production of energy and plastics.

The global Plant-Based Oils market is segregated into types, applications, distribution channels, and regions. On the basis of type, the global Plant-Based Oils market is sub-segmented into palm oil, sunflower oil, soybean oil, rapeseed oil, and other types. With respect to application, the global Plant-Based Oils market is distributed into food, industrial, and animal feed. On the basis of distribution channel, the global Plant-Based Oils market is sub-segmented into online, and offline. On the basis of region, the global Plant-Based Oils market is sub-segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Plant-Based Oils Are Gaining In Popularity

Plant-based oils are gaining in popularity, as a substitute for animal-derived products that may be harmful to the environment. While many people do not care about the environment because it is too abstract, they can still make a change by reducing their reliance on animal-based products. Plant-based fats and oils are healthier for you because there is no risk of including hormones or antibiotics from animals. Also, the number of consumers who are cutting back on their use of animal-derived products increases.

The Demand For Plant-Based Alternatives To Traditional Oils

Demand for plant-based alternatives to traditional oils is increasing due to the health concerns people have about consuming animal fats and cholesterol. The introduction of vegetable-based oils, such as soybean oil, olive oil, and coconut oil, has seen an exponential rise in demand in recent years. The use of these alternatives has numerous health benefits, including lower levels of saturated fat than their animal counterparts.

Fluctuating Raw Material Costs

The plant based oil industry's biggest problem is the fluctuating raw material costs. This is because the demand for oils like palm, soybean, and canola are connected to how much it cost to get the raw materials. If the price of these ingredients goes up, there will be less food available for everyone; this leads to higher prices for other goods like processed foods and clothes.

Growing Demand For Healthy Oils Owing To The Increasing Prevalence Of Cardiovascular Diseases

Cardiovascular diseases are the number one cause of death in the United States. The demand for healthy oils is growing as a result of this increasing prevalence. Increased awareness for the harmful effects that unhealthy oils have on cardiovascular health paired with the increasing cost, availability, and taste preference of healthy oils has led to this increased demand. Furthermore, healthier alternatives to saturated fats are becoming more prominent due to their properties.

COVID-19 impact on Food Industry

The COVID-19 pandemic has caused significant supply disruptions in food systems., has resulted in setbacks in agricultural labour, processing, transport and logistics, as well as many extreme shifts in demand. These disruptions are largely the result of precautionary measures taken to restrict the virus' spread. Food business food supply chains have made a remarkable recovery from these environmental concerns. Grocery store shelves have been restocked over time, as hoarding behavior disappeared and as food supply chains met rising consumer demands. Midpoint checks at borders went down due to laws designed to help minimized needless limitations. As the impacts of COVID-19 are still unfolding, experience to date shows the significance of an open and predictable international trade environment to ensure foods can reach the place they need to be. The greatest risk with food stability is the ability to maintain customers' access to foodstuff. Food access safeguards are required to prevent a rise in hunger-levels and food instability.

Regional Analysis

The global Plant-Based Oils market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Markets in the Asia Pacific region are expected to account for the largest share over the next decade due to rising impact for demand of a substitute for the fossil fuel, biofuel generation coupled with biodiesel feedstock requirement are expected to take the front seat in the application segments, changing lifestyles, and growing economies.

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Competitive Landscape For Plant-Based Oils Market

• ACH Food Companies Inc.
• Westmill Foods
• Wilmar International Ltd
• Riceland Foods
• FUJI OIL ASIA PTE. LTD.
• CHS Inc.
• Cargill Incorporated
• ADM
• Bunge Limited.
• Carapelli Firenze S.p.A.
• Olam International.
• Other Key Players

Key Segment Covered

Global Plant-Based Oils Market Segmentation by Type

• Palm Oil
• Sunflower Oil
• Soybean Oil
• Rapeseed Oil
• Other Types

Global Plant-Based Oils Market Segmentation by Application

• Food
• Industrial
• Animal Feed

Global Plant-Based Oils Market Segmentation by Distribution Channel

• Online
• Offline