Cooking Oil Market Report 2024, Size (USD 288.0 Billion), Share, Growth (CAGR of 4.51%), Trends, and Forecast by 2032

Attributes and Key Statistics of the Cooking Oil Market Report by IMARC Group:

Base Year: 2023

Forecast Years: 2024-2032

Historical Years: 2018-2023

Units: USD Billion

Market Size in 2023: USD 193.6 Billion

Market Forecast in 2032: USD 288.0 Billion

Market Compound Annual Growth Rate 2024-2032: 4.51%

IMARC Group's latest report, titled "Cooking Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the cooking oil market. The report also includes competitor and regional analysis, and contemporary advancements in the market. the global cooking oil market size reached US$ 193.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 288.0 Billion by 2032, exhibiting a growth rate (CAGR) of 4.51% during 2024-2032.

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Cooking Oil Market Trends:

The global market is experiencing steady growth due to the increasing demand for processed and convenience foods. Moreover, the rising health consciousness among consumers has led to a preference for oils with lower trans-fat content, such as olive and sunflower oils. Furthermore, the expanding food service industry, driven by the rise in dining out and takeaway options, is contributing to higher consumption of cooking oils.

Additionally, the growing global population and urbanization are boosting the overall demand for edible oils. Besides, the increasing awareness regarding the health benefits of plant-based oils, along with the popularity of vegan diets, is encouraging shifts in consumer preferences. Furthermore, technological advancements in oil extraction and processing techniques are enhancing product quality and shelf life, which is driving market expansion. Additionally, favorable government regulations promoting the use of healthier oils in food production are supporting market growth.

An In-Depth Analysis of Prominent Cooking Oil Companies in the Industry by IMARC Group:

• ACH Food Companies Inc. (Associated British Foods plc)
• American Vegetable Oils Inc
• Archer-Daniels-Midland Company
• Bunge Limited
• Cargill Incorporated
• CJ CheilJedang Corp
• Fuji oil Holding Inc
• Indofood Agri Resources Ltd
• J-Oils Mills Inc
• Louis Dreyfus Company B.V
• Marico Limited
• Modi Naturals Ltd
• Ottogi Co. Ltd
• Wilmar International Limited

Cooking Oil Market Scope & Growth Analysis:

The market scope is broadening due to the increasing diversification of oil types, such as coconut, avocado, and flaxseed oils. These oils are gaining traction for their nutritional benefits and specific uses in cooking and baking. Additionally, the market scope is expanding as manufacturers are focusing on sustainable sourcing practices, which appeal to eco-conscious consumers. The integration of organic and non-GMO oil variants is also contributing to the growth of this market.

Furthermore, the rise in demand for cooking oils in non-food industries, such as cosmetics and biofuels, is creating new revenue streams for manufacturers. The market is also witnessing growth through innovative packaging solutions that cater to consumer preferences for convenience and sustainability. Besides, the increasing availability of cooking oils through online retail channels is enhancing product accessibility, contributing to the overall market expansion.

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Cooking Oil Market Report Segmentation:

Type Insights:

• Palm Oil
• Soy Oil
• Sunflower Oil
• Peanut Oil
• Olive Oil
• Rapeseed Oil
• Others

Palm oil accounts for the majority of the market share.

Distribution Channel Insights:

• Hypermarket and Supermarket
• Independent Retail Stores
• Business to Business
• Online Sales Channel

Hypermarket and supermarket hold the largest share of the industry.

End User Insights:

• Residential
• Food Services
• Food Processing
• Others

Residential represents the leading market segment.

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Asia Pacific leads the market, accounting for the largest cooking oil market share.

Key highlights of the Report:

• Historical Market Performance
• Future Market Projections
• Impact of COVID-19 on Market Dynamics
• Industry Competitive Analysis (Porter's Five Forces)
• Market Dynamics and Growth Drivers
• SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)
• Market Ecosystem and Value Creation Framework
• Competitive Positioning and Benchmarking Strategies

Major Advantages of the Report:

• This report provides market leaders and new entrants with accurate revenue estimates for the overall global market and its key subsegments.

• Stakeholders can leverage this report to gain a deeper understanding of the competitive landscape, enabling them to strategically position their businesses and develop effective go-to-market strategies.

• The report provides stakeholders with valuable insights into the market dynamics, offering a comprehensive analysis of key drivers, restraints, challenges, and opportunities.

Why Choose IMARC Group:

• Extensive Industry Expertise
• Robust Research Methodology
• Insightful Data-Driven Analysis
• Precise Forecasting Capabilities
• Established Track Record of Success
• Global Reach with an Extensive Network
• Tailored Solutions to Meet Client Needs
• Commitment to Strong Client Relationships and Focus
• Timely Project Delivery
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Note: Should you require specific information not included in the current report, we are pleased to offer customization options to meet your needs.

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This release was published on openPR.