Edible Oil Market Poised for Expansion to US$ 322.2 Bn by 2032 - Persistence Market Research

The global edible oil market is set to experience steady and robust growth over the forecast period from 2025 to 2032. According to Persistence Market Research, the edible oil market is projected to grow from a valuation of US$ 223.0 Bn in 2025 to US$ 322.2 Bn by 2032, registering a CAGR of 5.4%. This growth trajectory is primarily fueled by rising global population, increasing consumption of processed and fast foods, and the growing popularity of fortified and functional edible oils.

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Asia Pacific remains the dominant consumer and producer in the edible oil sector, with countries like India, China, Malaysia, and Indonesia leading in both demand and supply. Palm oil continues to dominate the market owing to its cost-efficiency and wide range of applications across food and non-food sectors.

Key Highlights from the Report

➤ Asia Pacific remains the leading region, driven by high production and consumption, especially in India and Indonesia.
➤ Palm oil dominates the market with a CAGR of 29.5% due to its affordability and multiple applications.
➤ Fortified oils enriched with vitamins and omega-3 are gaining traction among health-conscious consumers.
➤ B2C distribution channels are expanding via online platforms and retail supermarkets.
➤ North America sees rising demand for organic and functional oils such as olive and avocado oil.
➤ Europe leads in rapeseed oil production, making up 58% of the region's edible oil market share.

Market Segmentation

The edible oil market is segmented based on type, packaging, processing, distribution channel, end-user, and region. By type, palm oil holds the largest share owing to its extensive applications and high yield per hectare. Soybean, rapeseed, sunflower, and olive oils also contribute significantly. In terms of packaging, bottles and pouches are commonly preferred formats across both retail and commercial sectors. Cold-pressed and refined oils dominate the processing type segmentation. By end-user, the market caters to both industrial and household applications. Distribution channels include B2B and B2C platforms, with rapid growth in online sales driving B2C expansion.

Regional Insights

Asia Pacific

Asia Pacific commands the largest share of the edible oil market. Nations such as India, China, and Indonesia not only contribute significantly to global consumption but are also central to production, particularly in palm oil. Indonesia alone accounts for 52% of the world's palm oil exports. Malaysia and India follow closely. The diversity of cuisines and cultural reliance on cooking oils drive demand, especially for palm, soybean, and mustard oils.

North America

The North American market is leaning heavily toward health-centric edible oils, particularly those rich in unsaturated fats. Consumer preference for oils like olive, flaxseed, and avocado is driving innovation. Cold-pressed and organic oils are gaining ground, while online sales platforms like Amazon and Walmart offer a broad spectrum of premium oil options.

Europe

Europe is witnessing a surge in rapeseed oil consumption, expected to dominate 58% of the region's edible oil market share by 2025. Rapeseed oil's heart-health benefits and adaptability in European cuisine boost its popularity. The European Union's import statistics underscore the region's reliance on external sources, enhancing opportunities for non-GMO oil suppliers.

Market Drivers

One of the primary drivers of growth in the edible oil market is the rising global population, especially in densely populated regions like South Asia and Africa. This demographic trend correlates with increased per-capita oil consumption. Changing dietary habits, driven by growing urbanization and fast-food culture, are also leading to higher demand for various cooking oils.

Market Restraints

Concerns over the presence of harmful chemicals like hexane in refined edible oils have caused a decline in consumer confidence. Regulatory scrutiny and a shift towards oil-free cooking methods like grilling and steaming are impacting overall consumption. Moreover, disruptions in supply chains and heightened compliance demands are placing additional strain on manufacturers.

Market Opportunities

Fortified edible oils represent a promising avenue for growth. These oils, enriched with vitamins A, D, and omega-3 fatty acids, address health deficiencies and appeal to the increasingly health-aware global consumer base. With manufacturers like Cargill launching vitamin D-enriched oils, the trend of functional oils is likely to shape the market's future.

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✔ Leverage forecast data and CAGR metrics for strategic business decisions.
✔ Identify innovations and new product developments shaping the market landscape.

Company Insights

• Cargill, Incorporated
• ADM (Archer Daniels Midland)
• FUJI OIL CO., LTD
• Wilmar International Ltd
• CJ Cheiljedang Corporation
• Bunge Limited
• IFFCO Group
• OTTOGI CORP.
• Olam Agri Holdings Pte Ltd
• Marico Limited

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This release was published on openPR.