Edible Oils Market Deep Research Report with Forecast to 2031

InsightAce Analytic announces the release of a market assessment report on the "Global Edible Oils Market Size, Share & Trends Analysis Report By Type (Palm Oil, Soybean Oil, Sunflower Oil, Rapeseed Oil, Olive Oil), Packaging Type (Pouches, Jars, Cans, and Bottles), End Use (Domestic, Food Service and Industrial)- Market Outlook And Industry Analysis 2031".

The global edible oils market is estimated to reach over USD 329.30 billion by 2031, exhibiting a CAGR of 5.22% during the forecast period.

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The liquid extracted from seeds, plants, and vegetables is edible oil. It is high in fatty acids, phospholipids, and antioxidants. Edible oil is used in the food processing industry and for human consumption. Edible oil offers low cholesterol, fats, and calories, which appeals to health-conscious consumers worldwide. Rising crop yields and oil output in developing economies are the primary drivers of edible oil growth in the global market. The rising popularity of olive and soybean oil will propel the international edible oil market over the forecast period. Increasing demand for organic edible oil and rapid growth and expansion in the food sector are projected to drive the edible oil market forward.

Furthermore, the growing use of corn oil in businesses is expected to create massive market potential in the coming years. Canola oil is a healthier and less expensive alternative to olive oil due to its low-fat level of roughly 6% compared to all other edible oils. The multiple advantages of edible oil enhance demand for this oil, eventually driving 5market growth.

List of Prominent Players in the Edible Oils Market:
• Adani Wilmar Limited
• The Nisshin Oillio Group, Ltd.
• Richardson Internation Limited
• Hebany
• Graincorp
• Vicentin S.A.I.C
• Sunora Foods
• Archer Daniels Midland Company (ADM)
• Borges International Group, S.L.U
• Cargill Incorporated
• Bunge Limited
• Associated British Foods Plc
• Wilmar International Limited
• Louis Dreyfus Company
• Aceitera General Deheza S.A.
• American Vegetable Oils, Inc.
• United Plantations Berhad
• Golden Agri-Resources Ltd.
• Aveno Nv
• Basso Fedele & Figli Srl
• Ajanta Soya Limited.

Market Dynamics:
Drivers-
The rising global consumption of processed foods will likely play a significant role in propelling market expansion. Consumer preference for packaged and processed foods will increase demand for these oils in food preparation by small food chains, households, and restaurants, which will likely drive the market. Furthermore, the rate of income growth, combined with urbanization and the development of the middle class, leads to more diverse diets, hence increasing demand for processed food products. According to the Organization for Economic Cooperation and Development (OECD) and Food and Agriculture Organization (FAO) report, the availability of vegetable oil in the least developed countries is expected to increase by 1.3% per year, reaching 9 kg per capita in 2030, up from 7.96 kg per capita in 2020. Additionally, the United States Department of Agriculture (USDA) predicts that imports of cooking/edible oil into developing nations will increase by 34%, accounting for 79% of worldwide import growth due to tourism and population expansion. As a result, these factors are anticipated to fuel market expansion in the future years.

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Challenges:
The nutritional integrity of edible oils has been a concern for years. The widespread practice of adulterating prevalent and costly oil with less expensive oil is a health hazard. For instance, in March 2021, Indian authorities discovered eight 15-litre containers of counterfeit Fortune soybean oil, a brand owned by Wilmar International Ltd. Although the codex requirements for oils are constantly evolving to enhance their effectiveness in addressing authenticity concerns, the market is expected to be impeded by the increasing prevalence of oil counterfeiting. The market growth is expected to be hindered by the development of oil counterfeiting, even though the codex standards for oils are constantly evolving to enhance their use in determining authenticity issues.

Regional Trends:
For years, there has been a concern regarding the nutritional integrity of edible oils. The practice of adulterating prevalent and costly oil with less expensive oil is a widespread health hazard. For example, in March 2021, Indian authorities uncovered eight 15-litre containers of counterfeit Fortune soybean oil, a trademark that Wilmar International Ltd owns. The increasing prevalence of oil counterfeiting in the market is anticipated to be impeded even though the codex requirements for oils are constantly evolving to improve their efficacy in addressing authenticity concerns. Even though the codex standards for oils are constantly evolving to improve their effectiveness in identifying authenticity issues, the development of oil counterfeiting is anticipated to impede market growth.

Recent Developments:
• In March 2022, Alfa Laval acquired Desmet, a prominent entity in the engineering and delivery of processing facilities and technologies for the edible oil and biofuel industries. Desmet was a division of the Desmet Ballestra Group. Alfa Laval's position in renewable energy was strengthened by the acquisition, which also enabled the company to diversify its edible oil portfolio.

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Segmentation of Edible Oils Market-
By Packaging Type-
• Pouches
• Jars
• Cans
• Bottles
• Others
By Product Type-
• Palm Oil
• Soybean Oil
• Sunflower Oil
• Sunflower Oil
• Rapeseed Oil
• Olive Oil
• Others
By End-use-
• Domestic
• Industrial
• Food Service
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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