Edible Oils Market Sowing the Seeds of Success: The Rising Popularity of Soybean and Olive Oil Drives Market Growth

The Edible Oils Market is to reach over USD 329.30 billion by the year 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. 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.

Request for free Sample Pages: https://www.insightaceanalytic.com/request-sample/1675

The Global Edible Oil Market: Cooking Up Growth
Edible oil, derived from seeds, plants, and vegetables, is a rich source of antioxidants, phospholipids, and fatty acids. It's a staple for human consumption and food processing across the globe. Notably, health-conscious consumers worldwide appreciate edible oil for its properties - often being low in calories, lipids, and cholesterol.

The global edible oil market is experiencing significant growth, fueled by several factors. In developing economies, increasing agricultural yields and oil production are key drivers. The rising popularity of soybean and olive oils is another major force propelling the market forward throughout the forecast period.

Furthermore, the flourishing food industry and growing consumer demand for organic options are expected to contribute to a rise in edible oil consumption. Looking ahead, the increasing use of maize oil in various industries presents a potential significant market opportunity. Canola oil, known for its exceptionally low fat content (around 6% among all edible oils), is emerging as a healthier and more affordable alternative to olive oil.

The multitude of benefits associated with edible oil continues to drive up demand, ultimately propelling market expansion across the globe.

List of Prominent Players in the Edible Oils Market:

• Hebany
• Graincorp
• Vicentin S.A.I.C
• Sunora Foods
• Aveno Nv
• Basso Fedele & Figli Srl
• Ajanta Soya Limited.
• 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.
• Adani Wilmar Limited
• The Nisshin Oillio Group, Ltd.
• Richardson Internation Limited

Market Dynamics:
Drivers-
The rising global consumption of processed foods is likely to 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 factors such as tourism and population expansion. As a result, these factors are anticipated to fuel market expansion in the future years.

Challenges:
For years, the nutritional integrity of edible oils has been a source of worry. The adulteration of popular and expensive oil with cheaper oil is widespread and poses a risk to human health. In March 2021, for example, Indian authorities discovered eight 15-litre containers of counterfeit Fortune soybean oil, a Wilmar International Ltd brand.

While the codex requirements for oils are continuously altering to improve their utility in resolving authenticity issues, growing oil counterfeiting is projected to stymie market growth. While the codex standards for oils are constantly evolving to improve their use in determining authenticity issues, developing oil counterfeiting is projected to hamper the market growth.

Regional Trends:
The Asia Pacific edible oils market is expected to register a significant market share in terms of revenue and is also predicted to grow at a high CAGR in the near future owing to the aquaculture industry's large concentration in China, India, Vietnam, and Indonesia.

Furthermore, increased consumer health concerns lead to the use of fish oil as a in industrialized countries such as Japan and Australia. Because of its health benefits, olive oil has experienced the fastest growth rate. The high demand from food businesses, which is ascribed to an increasing number of health-conscious consumers,

a large population base, and changing living standards, as well as the existence of significant palm oil-producing nations in the region, is expected to boost the market. Furthermore, the expanding consumption of processed food is a significant element in the rising use of edible oil.

Curious about this latest version of the report? @ https://www.insightaceanalytic.com/enquiry-before-buying/1675

Recent Developments:
• In March 2022, Desmet, a well-known player in the engineering and delivery of processing facilities and technologies for the edible oil and biofuel industries, was bought by Alfa Laval. The Desmet Ballestra Group had a division called Desmet. The acquisition bolstered Alfa Laval's position in renewable energy and allowed the company to expand its portfolio of edible oils.

Segmentation of Edible Oils Market-
By Product Type-
• Palm Oil
• Soybean Oil
• Sunflower Oil
• Sunflower Oil
• Rapeseed Oil
• Olive Oil
• Others
By Packaging Type-
• Pouches
• Jars
• Cans
• Bottles
• 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

For More Customization @ https://www.insightaceanalytic.com/report/edible-oils-market/1675

Contact Us:
InsightAce Analytic Pvt. Ltd.
Tel.: +1 718 593 4405
Email: info@insightaceanalytic.com
Site Visit: www.insightaceanalytic.com
Follow Us on LinkedIn @ bit.ly/2tBXsgS
Follow Us On Facebook @ bit.ly/2H9jnDZ

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions.
Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses.
We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products.
Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

This release was published on openPR.