Edible Oil Packaging Market Is Set to Experience Revolutionary Growth by 2031

The global edible oil packaging market is anticipated to grow at 5.8% CAGR through 2031, finds Future Market Insights (FMI) in its latest study.

"Growing sustainability have compelled the manufacturers to introduce eco-friendly and recyclable packaging solution, improving the demand for bag-in-box and drums. This is expected to bode well for the market," says FMI analyst.

Some of the key players dominating the global industrial packaging market are Tetra Pak International S.A., Berry Global Group Inc, Scholle IPN Corporation, Glenroy, Inc., Crown Holdings, Inc, Sealed Air Corporation, DS Smith Plc, Smurfit Kappa Group, Technocan S.A., Amcor Plc, ASA Group, Colep Packaging, Vetropack Holding Ltd, Baralan International S.p.A., Vidrala, S.A., Uflex Ltd, TPAC Packaging India Private Limited (Sunpet) and Neo Sun Industries Limited.

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Growing Popularity of Organic & Low Cholesterol Oils will Offer Growth Opportunity

Key manufacturers of edible oils are launching advanced variants of products, such as oils having omega-3, variety of minerals and natural antioxidants to cater for the requirement of healthy oil among consumers, especially millennials.

Rising prevalence of heart diseases, diabetes and many other chronic diseases caused by consumption of unhealthy oils is improving the demand for low-cholesterol oils. Growing awareness about the same among consumer has resulted in the sharp rise in demand and consumption for olive oil, sunflower oil and other oils, which have good cholesterols.

Following the outbreak of COVID-19, as restrictions were imposed by governing authorities, demand for edible oil packaging solutions decreased to an extent due to disruptions in the supply chain.

However, sales are expected to pick up due to increasing international trade of edible oils and high demand for retail-ready edible oil packaging solutions.

Marketers and end-users of edible oil packaging solutions are trying to differentiate their products based on ease in dispensing the consumable oil-packed inside it. Most of the consumer base today prefer hassle-free packaging without any risk of wastage or damage to the product, which allows them easy retrieval of edible oil.

Hence, manufacturers are offering pouring caps for easy dispensing of edible oil. A variety of self-closing dispensing taps are also offered along with bag-in-box packaging for edible oils, which keep the surface clean from spillage.

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Edible Oil Packaging Market by Category

By Packaging Type:
Bottles
Pouches
Jerry Cans
Cans
Drums
Bag in Box
Others (Liquid Carton, etc.)

By Material:
Plastic
Glass
Metal (Aluminum)
Paper

By Capacity:
50 to 500 ml
501 to 1000 ml
1001 to 5000 ml
Above 5000 ml

By Oil Type:
Soybean Oil
Coconut Oil

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Key Takeaways from Edible Oil Packaging Market

Drums are the most versatile packaging type used for packaging edible oils across the globe. In terms of type, drums are anticipated to register growth at 5.9% CAGR between 2021 and 2031.
The U.S. edible oil packaging market is anticipated to reach US$ 483 Mn over the forthcoming decade.
Based on material, plastic is expected to be the most preferred type, registering growth at 5.4% CAGR during the forecast period..
Due to disruption in supply chains in 2020, Germany is anticipated to register growth year on year growth of 1.5%. Demand for edible oil packaging solutions in Germany is driven by the rising consumption of edible for producing biodiesels.
Rising consumption of palm oil across packaged food industries, hotels, restaurants and cafes will spur sales. The segment is expected to offer a total incremental opportunity of US$ 715 Mn over the forecasted period.

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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

This release was published on openPR.