Press release
Rising Food Demand Fuels Oils Market Growth: A Key Driver Powering Oils Market Growth In 2025
Oils
How Big Is the Oils Market Size Expected to Be by 2034?
The size of the oils market has seen robust growth in recent times. The market is projected to increase from $88.8 billion in 2024 to $94.42 billion in 2025, witnessing a compound annual growth rate (CAGR) of 6.3%. Factors such as industrialization, increase in global population, economic progression, political stability, diverse culinary practices, and infrastructure advancements have contributed to the growth during the historic period.
In the forthcoming years, the oils market is projected to experience robust expansion, reaching a worth of $118.01 billion by 2029 with a compound annual growth rate (CAGR) of 5.7%. This predicted surge within the forecast period is primarily due to factors such as government renewable energy strategies, emerging health and wellness inclinations, climate change campaigns, transition to plant-centric eating habits, governmental rules, and budding market requirements. The major trends anticipated within the forecast period involve the integration of technology within agriculture, advancements in extraction methods, progressive packaging, products with clean labels, and eco-friendly practices.
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How Are Emerging Segments Shaping the Oils Market Landscape?
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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Which Growth Factors Are Influencing Oils Market Expansion?
The surge in food demand is anticipated to drive the expansion of the oils market. Essentially, food is a substance primarily composed of nutrients like protein, carbohydrates, and fat that serve as energy sources and support developmental and other vital functions in the human body. Cooking oils like olive, canola, and sunflower oil, renowned for their monounsaturated fat content, are widely used in food preparation. They help reduce the risk of heart-related illnesses and boost good cholesterol levels. For instance, in September 2023, a report from the United States Department of Agriculture indicated that food expenditure constituted 12.8 percent of total household spending in the U.S. for 2022, a rise from the 12.4 percent in 2021. Moreover, a 2022 report by the World Food Programme revealed that as many as 205 million individuals worldwide might be acutely food insecure, requiring immediate aid. Hence, this heightened food demand fuels the oils market's growth.
Who Are the Dominant Players Across Different Oils Market Segments?
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
What Are the Latest Developing Trends in the Oils Market?
The burgeoning trend in the oils market is predominantly focused on product innovations. To maintain their market standing, chief corporations in the oils industry are centering on introducing novel products. For example, KTC Edibles Ltd., a distinguished UK-independent manufacturer and edible oils supplier, rolled out a certified sustainable hard palm kernel oil (KPKO) in February 2023. This is a 100% vegetable oil acceptable to vegans and low in trans fats. KTC's HPKO is perfect for ice cream and confectionery products thanks to its neutral flavor and odor. Being free of genetically modified elements, additives, and allergens, it integrates well with both vegan and dairy-based goods. The organization's expanding range of finest edible oils and fats now incorporates Certified Sustainable Segregated HPKO. This new addition joins a host of other items under the KTC umbrella such as the UK's exclusive Halal beef dripping and a lately launched premium Italian lard.
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Which Geographic Regions Are Expected to Dominate the Oils Market in the Coming Years?
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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Oils Market?
2. What is the CAGR expected in the Oils Market?
3. What Are the Key Innovations Transforming the Oils Industry?
4. Which Region Is Leading the Oils Market?
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