Edible Oil Import Market To See Huge Growth By 2021-2027 | 

Edible vegetable oil refers to vegetable oil made from edible vegetable oilseeds or vegetable crude oil. Among them, soybean, rapeseed, palm and peanut oil are the four major edible vegetable oil consumption types in China. According to IMR's analysis, the consumption of these four types account for about 90% of China’s edible vegetable oil consumption. In terms of market supply structure, in recent years, soybean oil has become the most dominant vegetable oil supplied domestically, due to the low price of imported soybeans and large crushing profits, with a share of 43%; followed by rapeseed oil, with a share of 22%.

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The production of edible vegetable oil in China declined from 59.318 million tons in 2016 to 46.254 million tons in 2019 in successive years, and the production rebounded to 49.18 million tons in 2020, with a CAGR of -4.58%. According to IMR's analysis, edible vegetable oil in China is mainly used in food processing industry, food service industry and other industries closely related to the residents’ diet, and the consumer groups are mainly individual (household) consumers, food processors and caterers, but different types of edible vegetable oil also have different consumer groups. China’s apparent consumption of edible vegetable oil witnessed a continuous decline from 2016 to 2018, before the apparent demand for edible vegetable oil had shown a modest growth since 2018.

In terms of market segments, consumption in rapeseed and soybean oil is larger and maintains an overall growth trend. In 2020, China’s consumption in peanut, rapeseed and soybean oil was 3.175 million tons, 15.130 million tons, and 18.596 million tons respectively.

China’s domestic edible vegetable oil production cannot fully address the demand for the domestic market. Therefore, Chinese companies will meet the market need by importing edible vegetable oil. China’s edible vegetable oil import volume continued to rise from 5.54 million tons in 2016 to 9.834 million tons in 2020, with a CAGR of 15.43%. In 2021, from January to August, China imported 8.217 million tons of edible vegetable oil, up 14.4% YOY, and the import value was USD 8.09 billion, up 54.2% YOY

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Topics covered:
Economic and policy environment of China’s edible vegetable oil imports
Status and major sources of edible vegetable oil in China, 2013-2020
Analysis on China’s major edible vegetable oil importers
Key driving forces and market opportunities for China’s edible vegetable oil imports
Forecast on key driving forces, challenges and opportunities for China’s edible vegetable oil import, 2021-2031

Major participants in China’s edible vegetable oil import market and their competitive benchmarks
Forecast on the revenue of China’s edible vegetable oil import market, 2021-2031
Strategies adopted by the major market participants for increasing their market share in the industry
Forecast on the segment to dominate the edible vegetable oil import market in 2031
Competitive advantages of the major participants in the edible vegetable oil import market
Impact of COVID-19 on China’s edible vegetable oil imports
Major restrictions over the growth of China’s edible vegetable oil imports
Analysis of the status of China’s imported oilseed crops

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This release was published on openPR.