Press release
Edible Oils Market Report: Growth Forecasts, Consumer Trends, and Key Players
MarketsandMarkets™
The global edible oils market [https://www.prnewswire.com/news-releases/edible-oils-market-worth-306-92-billion-by-2029--exclusive-report-by-marketsandmarkets-302325876.html] is estimated at USD 250.78 billion in 2024 and is projected to reach USD 306.92 billion by 2029, at a CAGR of 4.1% from 2024 to 2029. The global edible oils market is witnessing high growth, led by increasing population, ever-increasing disposable incomes, and changing dietary patterns in the world. Food processing, industrial applications, and various forms of baking and cooking account for widespread applications in the market. Key players that are engaged in this market include Wilmar International (Singapore), Cargill Incorporated (US), and Bunge (US). These companies cater to the expanding demand for oils like soybean, palm, sunflower, and olive oils, enhancing their footprints across developed and emerging countries.
Image: https://www.marketsandmarkets.com/Images/edible-oils-market.webp
Edible Oils Market Opportunities [https://finance.yahoo.com/news/edible-oils-market-worth-306-100000867.html]: Rising Sunflower Oil Demand Offers Growth Potential Due to High Olive Oil Prices
The increasing demand for sunflower oil in Spain presents significant growth opportunities, as consumers find it harder to afford olive oil, which is becoming more expensive. The Asociacion Nacional de Industriales Envasadores y Refinadores de Aceites Comestibles (Anierac) reports that sales of sunflower oil increased by 24.5% between October 2023 and March 2024, while sales of olive oil decreased by 17.5%. This follows a 61% increase in olive oil prices from May 2023 to May 2024, alongside a second consecutive year of reduced production. Meanwhile, sunflower oil experienced a decline of 35%, which is relatively cheaper compared with quality cooking oils offered to households.
Due to the availability of economical substitutes, sunflower oil is expected to capture a larger market share among Spanish consumers. If olive oil production levels off in 2024/25, the current price difference will provide sunflower oil producers with a crucial opportunity to strengthen their market position while adapting to changing consumer preferences.
Industrial end use holds largest share in edible oils market
Industrial use is the major contributor to the edible oils market, with the food processing industry being the biggest driver. The increasing demand for edible oils in baking, frying, and processed food production remains the foundation of growth since most edible oils enhance the texture, flavor, and shelf life of these food products.
According to the Applied Human Factors and Ergonomics (AHFE) report that came out in November 2021, the enormous bakery market in Europe is estimated at USD 226 billion in 2020, accounting for 41% of the global market share. Countries like Germany, France, and the UK, where bread and pastries are staple foods, are at the forefront of producing and consuming bakery products. This strong demand for baked goods drives the need for edible oils, including palm oil and sunflower oil, which are essential ingredients in bakery operations.
The bakery producers increased operations to meet both domestic and export demands, thereby enhancing the demand for a consistent edible oil supply chain. This, therefore, implies that the food processing industry drives the global edible oils market, providing a feasible warranty for sustained growth in this sector.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=198285285
Asia Pacific to experience fastest growth between 2024 and 2029
The Asia-Pacific region would tend to grow more rapidly in the edible oils market due to a growing population, rising disposable incomes, and an increasing preference for healthy cooking oils. Wilmar International Ltd (Singapore), United Plantations Berhad (Malaysia), and the Adani Group (India) are the key players that fundamentally form part of the region's dynamic market landscape.
In June 2020, the subsidiary Unitate of United Plantations Berhad rolled out NutroOlive, a healthy combination of Extra Virgin Olive Oil and Red Palm Oil. This innovative product is rich in carotenoids, monounsaturated fatty acids, antioxidants, and natural vitamins, making it healthy and environmentally friendly for frying, baking, salad dressings, and cooking. Furthermore, the Round Table on Sustainable Palm Oil certified NutroOlive sustainable, a trend toward health-conscious and eco-friendly edible oils.
These innovations clearly reflect the growing market in Asia Pacific, where consumer demand for premium and sustainable products further establishes the region as a leader in the global edible oils market.
Leading Edible Oils Companies [https://www.marketsandmarkets.com/ResearchInsight/edible-oils-market.asp?utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=edible-oils-market]
The report profiles key players such as ADM (US), Bunge (US), Associated British Foods plc (UK), Wilmar International Ltd (Singapore), United Plantations Berhad (Malaysia), Sime Darby Berhad (Malaysia), BORGES AGRICULTURAL & INDUSTRIAL EDIBLE OILS, S.A.U. (Spain), Cargill Incorporated (US), GrainCorp (Australia), Adani Group (India), The Nisshin OilliO Group, Ltd. (Japan), Beidahuang Group (China), AJANTA SOYA LIMITED (India), Patanjali Foods Ltd. (India), and Louis Dreyfus Company (Netherlands).
Recent Developments of Edible Oils Industry [https://www.marketsandmarkets.com/PressReleases/edible-oils.asp?utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=edible-oils-market]
In September 2024, ADM (US) acquired Vandamme Hungaria Kft (Hungary). This added a 700 metric ton/day non-GM multi-seed and corn germ processing facility. It will boost ADM's capacity to fulfill the growing demand for non-GM edible oils in Europe while associated with its global sustainability efforts and increased commitment to food security throughout the world.
In August 2024, Bunge (US) Launched Fiona Refined Sunflower Oil in Hyderabad, Telangana. It is further fortified with vitamins A, D, and E and boasts the novel VitoProtect formula, which increases vitamin transfer during cooking by as much as 50 percent compared with standard sunflower oils. This launch addressed increasing consumer demand for healthier oils to cook while maintaining nutritional value.
In March 2023, Wilmar International Ltd. acquired the remaining 24% stake in Calofic Corporation (Vietnam), the leading producer and distributor of vegetable oils. This acquisition makes Calofic an indirect wholly-owned subsidiary of Wilmar, enhancing its presence and market position in Vietnam. This shows that the company is committed to aggressively expanding its regional footholds.
Key Questions Addressed by the Edible Oils Market Report [https://www.marketsandmarkets.com/Market-Reports/edible-oils-market-198285285.html?utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=edible-oils-market]:
What is the edible oils market?
Which factors are driving the growth of the edible oils market?
Which regions dominate the edible oils market?
What is the expected growth rate of the edible oils market?
Who are the major players in the edible oils market?
What is the current size of the edible oils market?
What are the latest trends in the edible oils market?
How is the edible oils industry responding to sustainability concerns?
What is the future outlook for the edible oils market?
How is the food service industry influencing the edible oils market?
What are the major challenges faced by the edible oils industry?
About MarketsandMarkets Trademark
MarketsandMarketsTM has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets Trademark is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore Trademark (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=edible-oils-market-report-growth-forecasts-consumer-trends-and-key-players]
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/edible-oils-market-198285285.html
Legal Disclaimer: Information contained on this page is provided by an independent third-party content provider. ABNewswire makes no warranties or responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you are affiliated with this article or have any complaints or copyright issues related to this article and would like it to be removed, please contact retract@swscontact.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Edible Oils Market Report: Growth Forecasts, Consumer Trends, and Key Players here
News-ID: 3860836 • Views: …
More Releases from ABNewswire
Movers in Cincinnati: Krupp Moving & Storage Announces Major Service Expansion t …
Krupp Moving & Storage has expanded its Cincinnati operations in response to a 35% increase in local moving requests over the past year. Amid Ohio's population shifts, the company has grown its personnel and services to meet rising demand from residents and businesses across the Greater Cincinnati area.
Amid significant population shifts throughout Ohio, Krupp Moving & Storage [http://finance.minyanville.com/minyanville/article/abnewswire-2025-2-17-trusted-cincinnati-movers-krupp-moving-and-storage-provides-seamless-relocation-solutions#:~:text=Cincinnati%20movers] has announced substantial expansions to its Cincinnati operations. The company reports a…
Modern Roofing, Inc.: Expert Roofers in Burbank Transform Southern California's …
Modern Roofing, Inc. has been a trusted name in the Burbank roofing industry for over 20 years, providing expert craftsmanship for residential and commercial properties. Serving Southern California, the company ensures quality roofing solutions that enhance both protection and property value.
Moving into a new home or renovating an existing property requires careful consideration of every structural element, particularly the roof. For property owners in Southern California, finding reliable roofing services…
Austin's Boat Tours Launches New Fleet of Luxury Boat Rental Austin Options for …
Austin's Boat Tours, a family-owned company recognized as the "Official Best of Texas" since 2013, has expanded its fleet with five new luxury vessels. This growth meets the rising demand for premium boat rentals on Lake Travis while enhancing comfort and promoting environmental sustainability for visitors and locals alike.
Austin's Boat Tours [https://austinsboattours.com/#:~:text=boat%20rental], the family-owned operation recognized as the "Official Best of Texas" since 2013, has announced the expansion of its…
Local HVAC Companies Pioneer Advanced Energy Solutions: Anderson Heating, Air & …
Anderson Heating, Air & Insulation celebrates 45 years of delivering exceptional HVAC services to North Georgia. Since 1978, the Calhoun-based company has been a trusted provider in Gordon County and beyond, expanding its service area while maintaining a strong commitment to quality and customer satisfaction.
Anderson Heating, Air & Insulation [https://johnandersonservice.com/] marks a significant milestone this year, celebrating 45 years of providing exceptional heating, ventilation, and air conditioning services to North…
More Releases for Oil
Transformer Oil Market, Transformer Oil Market Size, Transformer Oil Market Shar …
The Transformer Oil Market research report consists of a detailed study of the market and the market dynamics that are related to the same. The in-depth data on the development of the market is presented in the Research report. Not only this but also the detailed data on the performance of the market for the forecast period are presented in the Transformer Oil Market research report. The performance analysis is…
Apricot Oil, Apricot Kernel Oil Supplier, Co2 Apricot Oil Manufacturer
The seed inside every apricot contains thin oil, which is extracted from the kernel of the seed after eating the delectable fruit. Apricot oil is also known as apricot kernel oil. This oil has been the interest of many experts for research purposes due to its infinite health benefits. It has been found that the oil could cure some serious health conditions (like cancer). Apricot oil has a profound nutty…
Cooking Oil Market by Region - North America,Latin America,Europe,Japan,APEJ,MEA …
According to Fact.MR, the sales of cooking oils are expected to increase at a steady pace during the forecast period. The global cooking oil market is projected to expand at a value CAGR of 5.5% during the period of assessment (2017-2026). Also, Fact.MR analysis has revealed that the volume sales of cooking oils is estimated to surpass 250,000,000 tons by the end of the year of assessment (2026). Health advantages associated with…
Cooking Oil Market by Region - North America,Latin America,Europe,Japan,APEJ,MEA …
Since several years, cooking oil section in supermarkets and hypermarkets has been a crowded spot, where individuals keep choosing on several cooking oil options available that are healthy to consume. Cooking oil is an essential component in daily cooking activity, be it a restaurant or home. This, in combination with increasing population percentage, especially in emerging economies, is expected to fuel the consumption of cooking oils. However, aspects related to…
Specialty Fats and Oils Market (Product Type - Specialty Oils (Corn Oil, Sun Flo …
The global Specialty fats and Oils Market expected to reach a value of US$ 142.1 Bn by 2026. The market projected to grow at a CAGR of 6.6 % in terms of revenue during the forecast period from 2018 to 2026, according to a new research report by Transparency Market Research (TMR). The product manufactured may vary according to the end use application of processing by specialty fats and oils.…
Europe Mosquito Repellent Candles Market by Raw Material Type : Citronella Oil, …
Albany, New York, July 17, 2017 : Recent research and the current scenario as well as future market potential of "Mosquito Repellent Candles Market - Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021" globally.
Mosquito repellent candles are having huge untapped potential for growth. In contrast to the other categories of mosquito repellent products that are available in the market such as mosquito creams, liquids, coils, and…
