(MENAFN- Ameliorate Digital Consultancy)
Vegetable Oils Market
The Vegetable Oils Market is anticipated to reach USD 315 billion by the end of 2028, growing at a CAGR of 7.0% over the forecast period (2021-2028).
The factors driving the growth of Vegetable Oils Market includes increasing consumers preference for vegetable oil over olive oil, rise in the number of cardiovascular diseases around the world and growing awareness about the health benefits of vegetable oil. According to the report published by Center for Disease Control and Prevention, health diseases emerged the as the leading cause of death in the United States, in 2020 around 697,000 people in the U.S. died from heart disease, which pushing the demand for vegetable oils in the United States. Moreover, the increasing application of biodiesel in the Aerospace, Aviation and Automotive industries, growing popularity of organic and processed vegetable oils and rising adoption of vegetable oils in quick service restaurants and cafes across the globe, are some of the additional factors supplementing the market growth. In addition, increasing demand for vegetable oils in the production of perfume formulas and culinary soaps, easy availability of vegetable oils at supermarkets and online platforms and rising population growth rates, are further contributing to the market growth.
For Additional Insights, Click to Access Complete Report on Vegetable Oils Market –
However, the growth of Vegetable Oils Market is hindered attributed to high price of vegetable oils and high investment required in the production process.
The major players operating in the market are Vegetable Oils Market are Conagra Brands, Inc., Fuji Oil Co. Ltd, Cofco, ADM, Bunge Limited, Carapelli Firenze SpA, Cargill, Incorporated., Cofco, Xiwang Group and Wilmar International Ltd, among others.
Product Type – Segment Analysis
As per the Vegetable Oils Market Outlook , the Palm oil segment is estimated to expand at a remarkable CAGR during the forecast period. The increasing use of palm oil in snack food items along with growing awareness about the health benefits of palm oils, are some of the factors responsible for the growth of the segment
Regional – Segment Analysis
Based on Region, the Asia-Pacific region is projected to capture a sizeable market share over the forecast period. Depletion of fossil fuels, presence of leading players such as Cofco Corporation and Xiwang Food, emerging need to reduce the carbon emissions, growing consumption of palm oil, rapid growth in the Food processing industry and high population density, are some of the important factors propelling the market growth in Asia-Pacific,
Market Segmentation
Global Vegetable Oils Market by Product Type
- Sunflower oil
- Soybean oil
- Coconut oil
- Peanut oil
- Olive oil
- Canola oil
- Palm oil
- Others
Global Vegetable Oils Market by End Use
- Industrial
- Feed
- Biodiesel
- Food
- Others
Global Vegetable Oils Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email:
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website:
MENAFN11082022004660010643ID1104682292
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.