Edible Oils Market to Surpass USD 370.1 Billion by 2034 Amid Soaring Demand for Organic and Functional Oils

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Edible Oils Market Size, Share & Trends Analysis Report By Type (Palm Oil, Soybean Oil, Sunflower Oil, Rapeseed Oil, Olive Oil), Packaging Type (Pouches, Jars, Cans, and Bottles), End Use (Domestic, Food Service and Industrial)- Market Outlook And Industry Analysis 2034"

The global edible oils market is estimated to reach over 370.1 billion by the year 2034, exhibiting a CAGR of 4.1% during the forecast period.

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Edible oils, extracted from seeds, plants, and vegetables, are rich sources of essential fatty acids, phospholipids, and antioxidants. Due to their favorable nutritional composition, these oils are extensively utilized in food processing and are also consumed directly. Their low levels of cholesterol, fat, and calories make them particularly attractive to health-conscious consumers, thereby driving global market growth. Additionally, enhanced agricultural practices and increased oil production in developing regions are significantly contributing to the expansion of the edible oils market.

The rising consumer inclination toward organic edible oils, coupled with ongoing advancements in the food and beverage industry, is anticipated to further propel market development. The growing demand for specific oils such as olive and soybean is expected to remain a major growth catalyst over the forecast period. Furthermore, the expanding use of corn oil in various industrial and commercial applications offers new avenues for market growth. Canola oil, noted for its relatively low fat content-approximately 6%-is emerging as a cost-efficient and healthier alternative to olive oil. The wide-ranging health benefits and diverse culinary applications of edible oils continue to support the steady global market expansion.

List of Prominent Players in the Edible Oils Market:
• Archer Daniels Midland Company (ADM)
• Borges International Group, S.L.U
• Cargill Incorporated
• Bunge Limited
• Associated British Foods Plc
• Wilmar International Limited
• Louis Dreyfus Company
• Aceitera General Deheza S.A.
• American Vegetable Oils, Inc.
• United Plantations Berhad
• Golden Agri-Resources Ltd.
• Adani Wilmar Limited
• The Nisshin Oillio Group, Ltd.
• Richardson Internation Limited
• Hebany
• Graincorp
• Vicentin S.A.I.C
• Sunora Foods
• Aveno Nv
• Basso Fedele & Figli Srl
• Ajanta Soya Limited.

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Market Dynamics
Drivers:
The global rise in demand for processed food products serves as a primary catalyst for the expansion of the edible oils market. The growing consumption of packaged and convenience foods-especially among households, small-scale food service providers, and the hospitality sector-is significantly increasing edible oil usage. Key contributing factors include rising disposable incomes, accelerating urbanization, and the rapid growth of the middle-class demographic, all of which are influencing shifts in dietary preferences.

A joint report by the Organization for Economic Cooperation and Development (OECD) and the Food and Agriculture Organization (FAO) projects that the availability of vegetable oils in the least developed countries will increase at an annual rate of 1.3%, reaching 9 kilograms per capita by 2030-up from 7.96 kilograms in 2020. Additionally, the United States Department of Agriculture (USDA) estimates that developing countries will account for a 34% increase in cooking and edible oil imports, contributing approximately 79% to the overall global import growth. This trend is largely driven by population expansion and the continued growth of tourism, both of which are expected to fuel market demand over the forecast period.

Challenges:
One of the most pressing challenges facing the edible oils industry is the assurance of product authenticity and nutritional quality. The prevalence of adulteration-wherein premium oils are diluted with substandard substitutes-raises serious health and regulatory concerns. For instance, in March 2021, Indian authorities uncovered counterfeit batches of Fortune soybean oil, a brand under Wilmar International Ltd. Although international food safety bodies continue to revise Codex Alimentarius standards to enhance traceability and authentication mechanisms, the issue of fraudulent products remains a persistent barrier to market credibility and growth.

Regional Trends:
The Asia-Pacific region is poised to lead the global edible oils market in terms of revenue share and growth trajectory. This dominance is largely driven by the strength of the aquaculture industries in countries such as China, India, Vietnam, and Indonesia. Moreover, rising health consciousness in developed markets like Japan and Australia is spurring demand for nutraceuticals, including fish oil supplements.

Olive oil has emerged as one of the region's fastest-growing segments, owing to its recognized health benefits. Additional factors supporting regional market growth include rising consumer preference for healthier dietary choices, ongoing population growth, improving living standards, and the strong presence of leading palm oil producers. The continued surge in processed food consumption across Asia-Pacific remains a central driver of edible oil demand.

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Recent Developments:
• In March 2022, Desmet, a well-known player in the engineering and delivery of processing facilities and technologies for the edible oil and biofuel industries, was bought by Alfa Laval. The Desmet Ballestra Group had a division called Desmet. The acquisition bolstered Alfa Laval's position in renewable energy and allowed the company to expand its portfolio of edible oils.

Segmentation of Edible Oils Market-
By Product Type-
• Palm Oil
• Soybean Oil
• Sunflower Oil
• Sunflower Oil
• Rapeseed Oil
• Olive Oil
• Others
By Packaging Type-
• Pouches
• Jars
• Cans
• Bottles
• Others
By End-use-
• Domestic
• Industrial
• Food Service
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/edible-oils-market/1675

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This release was published on openPR.