Global Vegetable Oil Market: Increasing Applications in Food Industry, Cosmetics to Boost Demand

The report, titled “Vegetable Oil Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024”, by Transparency Market Research (TMR) throws light on the key trends, challenges, opportunities, and growth drivers prevailing in the global vegetable oil market.

Some of the key growth drivers in the global vegetable oil market are increasing sense of health consciousness, growing demand for vegetable oil in bio fuel in the form of feedstock, and increasing applications in cooking, perfume-making, and manufacturing of soaps. The popularity of processed foods will further boost the demand for vegetable oils. The automotive, aviation, and aerospace industries have been consuming large amounts of biodiesel. As biodiesels are produced with the help of vegetable oils, the rise of aforementioned industries will generate considerable opportunities.

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The global vegetable oil market has been categorized according to application, extraction method, type, and region. On the basis of type, the major categories are soybean oil, rapeseed (canola) oil, palm oil, sunflower oil, palm kernel oil, and other. Of these, the palm oil segment held the largest share in 2015, and is expected to witness high demand over the coming period. The reasons for the high demand for palm oil are low cost and its extensive use in the cooking sector. Palm oil is used to a great extent in bakery products, fried foods, margarine, and in cooking oil.

On the basis of extraction method, hydrogenation, mechanical extraction, sparging, and solvent extraction are the key segments. Although the mechanical extraction segment was the leading segment in 2015, the hydrogenation segment is growing at a substantial rate, and is likely to emerge at the forefront.

The application segment is divided into industrial, biodiesel, and food. The food application segment is further categorized into salads and cooking oils, frozen and processed food, baking and frying processes, margarine and other spreads, fatty ingredients, and others. While pharmaceuticals, paints, cosmetics, lubricants, and others are the major segments of the industrial application segment.

Based on geography, the global market for vegetable oils can be segmented into Latin America, Asia Pacific, North America, Eastern Europe, Middle East and Africa, and Western Europe. Asia Pacific leads the market for vegetable oils, closely followed by North America. The abundance of raw materials and increasing demand for convenience foods are the key factors responsible for the growth of Asia Pacific.

Some of the major companies operating in the global market for vegetable oils mentioned in the report are Bunge North America Inc., ACH Foods Company Inc, Carapelli Firenzi S.P.A., Archer Daniel Midland Company, J-Oil Mills Inc., Richardson Oilseed Ltd., and ConAgra Foods Inc.

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This release was published on openPR.