Rising Food Demand Fuels Oils Market Growth Driver: A Major Catalyst in the Evolution of the Oils Market in 2025

How Are the key drivers contributing to the expansion of the oils market?
The spike in food needs is anticipated to drive the expansion of the oils market. Food, largely composed of protein, carbs, fat, and other nutrients, caters to the energy needs, development, and other vital functions of the human body. Olive oil, canola oil, and sunflower oil, renowned for their monounsaturated fats, are utilized in the preparation of food, reducing the chances of heart and cardiovascular diseases and increasing beneficial cholesterol levels. As reported by the United States Department of Agriculture in September 2023, a governmental body based in the U.S, 12.8 percent of the total consumer spending in 2022 was on food, displaying a rise from the 12.4 percent recorded the previous year. Besides, in 2022, the World Food Programme published a global report on the food crisis stating that as many as 205 million individuals could be facing severe food insecurity and need instant aid. Consequently, the escalating need for food is propelling the advancement of the oils market.

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What growth opportunities are expected to drive the oils market's CAGR through 2034?
In the past years, the oils market has seen significant growth. The market size, which is projected to be $88.8 billion in 2024, is expected to reach $94.42 billion in 2025, showing a compound annual growth rate (CAGR) of 6.3%. This growth during the historical period is due to factors such as industrialization, increase in global population, economic development, political stability, culinary diversity, and development of infrastructure.

In the ensuing years, the oils market's size is predicted to experience substantial growth, with expectations to reach $118.01 billion by 2029, expanding at a compound annual growth rate (CAGR) of 5.7%. The projected growth can be credited to factors such as renewable energy policies, health and wellness propensities, initiatives addressing climate change, transition towards plant-based diets, government legislations, and evolving market needs. The anticipated period will likely see trends like the integration of technology in farming, innovative extraction methods, advancements in packaging, products featuring clean labels, and sustainable operations.

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What are the emerging trends shaping the future of the oils market?
The trend of product innovations is emerging prominently in the oils industry. Companies are directing their energy towards the creation of new products as a strategy to maintain their market standing. KTC Edibles Ltd., an independent UK-based manufacturer and distributor of edible oils, in February 2023, introduced a sustainable hard palm kernel oil (KPKO), entirely vegetable-based, suitable for vegans, and contains low trans fats. This oil, free from allergens, additives, and genetically modified ingredients, is desirable in ice cream and confectionary products, due to its neutral aroma and taste that merges well with both vegan and dairy-based products. Complimenting its expanding collection of superior quality edible oils and fats, KTC now presents Certified Sustainable Segregated HPKO. This adds to KTC's existing line which includes the UK's sole Halal beef dripping and a freshly launched premium Italian lard.

Which growth-oriented segments of the oils market are leading the industry's development?
The oils market covered in this report is segmented -

1) By Oil Type: Palm Oil, Soybean Oil, Canola Oil, Sunflower Oil, Other Oil Types
2) By Form: Liquid, Solid
3) By Source: Fruits And Vegetables, Herbs And Spices, Flowers
4) By Method Of Extraction: Distillation, Carbon Dioxide Extraction, Cold Press Extraction
5) By Application: Food Industry, Biofuels, Other Applications

Subsegments:
1) By Palm Oil: Crude Palm Oil, Refined Palm Oil
2) By Soybean Oil: Crude Soybean Oil, Refined Soybean Oil
3) By Canola Oil: Refined Canola Oil, Cold-Pressed Canola Oil
4) By Sunflower Oil: Refined Sunflower Oil, Cold-Pressed Sunflower Oil
5) By Other Oil Types: Olive Oil, Coconut Oil, Corn Oil, Grapeseed Oil, Peanut Oil

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What regions are leading the charge in the oils market?
Asia-Pacific was the largest region in the oils market in 2024. It is expected to be the fastest-growing region in the oils market report during the forecast period. The regions covered in the oils market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What companies are at the forefront of innovation in the oils market?
Major companies operating in the oils market include Associated British Foods PLC, Archer Daniels Midland Company, Bunge Limited, Wilmar International Limited, United Plantations Berhad, Unilever PLC, Mewah International Inc., Sime Darby Plantation Berhad, Cargill Inc, Richardson International, Kulim (Malaysia) Berhad, IOI Corporation Berhad, Abu Dhabi Vegetable Oil Co LLC, Parakh Foods and Oils Limited, AarhusKarlshamn, Symrise AG, Flavex Naturextrakte GmbH, Firmenich SA, Synthite Industries Ltd, DuPont de Nemours Inc, JM Huber Corporation, Herbstreith and Fox Corporate Group, Silvateam SpA

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What Is Covered In The Oils Global Market Report?

• Market Size Forecast: Examine the oils market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the oils market for a structured understanding.
• Key Players Overview: Analyze major players in the oils market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the oils market.
• Segment Contributions: Evaluate how different segments drive overall growth in the oils market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the oils market.
• Industry Challenges: Identify potential risks and obstacles affecting the oils market.
• Competitive Landscape: Review strategic developments in the oils market, including expansions, agreements, and new product launches.

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