Global Vegetable Oil Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Vegetable Oil Market Overview

"The Vegetable 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."

Request Covid - 19 Impact

Vegetable oils are triglycerides extracted from seeds of rapeseed, soybean, corn, sunflower, safflower, etc. Vegetable oils are commonly used for the preparation of processed food, salad dressing, mayo, and other conventional food products. There are various types of vegetable oils available in the market such as soybean oil, sesame oil, olive, coconut, sunflower oil, etc.

Vegetable oils such as sunflower, almond, and safflower are rich in vitamin E which is required for cell protection and development. Coconut oil helps to prevent hair loss, whereas peanut oil helps to maintain cholesterol levels, blood pressure, and heart health of an individual.

Rising demand for vegetable oil from various end-use industries such as food, and biofuel industries is a key factor driving the growth of the global vegetable oil market. In addition, increasing the use of vegetable oil in various areas such as fuel production, pharmaceuticals, and lubricants is a major factor expected to fuel the growth of the global vegetable oil market over the forecast period.

Also, increasing the adoption of vegetable oil in the production of shampoos, perfumes, etc. is another major factor expected to boost the growth of the global vegetable oil market over the forecast period.

However, vegetable oil such as rapeseed oil contains a high amount of toxic fatty acids, which are harmful to the human body and high consumption of vegetable oil such as sunflower, soybean oil causes breast cancer and digestive diseases.

These are key factors restraining the growth of the global vegetable oil market. Additionally, high consumption of vegetable oil leads to obesity, and adulteration in vegetable oils can cause various harmful effects on human health which are major factors expected to hamper the growth of the global vegetable oil market over the forecast period.

North America is a dominant player in the global vegetable oil market and accounts for the highest market share in terms of revenue as compared to that of markets in other regions. This can be attributed to the rising demand for vegetable oils from food and biofuel industries in countries in the region.

The market in Europe accounts for the second-highest revenue share contribution in the global vegetable oil market followed by markets in Latin America, Asia Pacific, and the Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to the increasing consumption of vegetable oil in countries in the region.

Global Vegetable Oil Market Segmentation:

Global vegetable oil market segmentation by type:

• Palm oil
• Sunflower oil
• Soybean oil
• Rapeseed oil
• Olive oil

Global vegetable oil market segmentation by the method:

• Mechanical extraction
• Solvent extraction
• Hydrogenation

Global vegetable oil market segmentation by application:

• Food
• Industrial
• Biofuel

Global vegetable oil market segmentation by region:

• North America
• Europe
• Latin America
• Asia Pacific
• Middle East & Africa