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(Health-NewsWire.Net, December 17, 2019 ) Edible Oil Market
Edible Oils are defined as “Food substance, other than a dairy product, of whatever origin, source, a composition that is manufactured for human consumption wholly or in part from a fat or oil other than that of milk.”
Cooking oil is a plant, animal, or synthetic fat used in frying, baking, and other types of cooking. It is also used in food preparation and flavoring not involving heat, such as salad dressings and bread dips, and in this sense might be more accurately termed edible oil.
The global Edible Oil Market was valued at USD YY billion in 2018 and is expected to reach USD YY billion in 2026 with CAGR of YY% during the forecast period (2019-2026).
Edible Oil Market Dynamics
Sustainability in edible oil manufacturing is the factor that may drive demand for some consumers. Health concerns regarding the effect of fat have reduced the growth of edible oils market in developed countries. European consumers have indicated resistance toward genetically modified ingredients.
As a solution, the market has responded with new types of oil that have a healthy fat composition such as olive oil, Avocado Oil, almond oil, hazelnut oil, etc.
These oils contain a smaller percentage of saturated fats, which is driving market growth. They provide a higher rate of mono-unsaturated crude which reduce the risk of heart disease.
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Edible Oil Market Growth Drivers
The characteristics of vegetable oils with low cholesterol, fat, and calories are likely to grow their market in the forecast period.
Significant improvement in retail network, increasing crop yields and oil production.
There is an increase in the popularity of unrefined, unprocessed, healthy, and organic oil, as part of the population is becoming more concerned about health.
The retail segment is expected to drive the sales of edible oils on account of a strong supply chain of edible oil products and established chain of retail outlets.
Edible Oil Market Segmentation Analysis
Global Edible Oil Market can be segmented by Oil source, by the process, and by the end user.
Based on Oil Source, Edible oil Market can be classified into, Palm Oil, Sunflower Oil, Soybean Oil, rapeseed oil and others. Among these palm and soybean oil is widely used, followed by sunflower oil.
Based on Process, edible oil market can be segmented into non-hydrogenated oil, hydrogenated oil, fully hydrogenated oil. Hydrogenation is an Industrial process used to increase the melting point of the oil. Oils with label ‘hydrogenated’ are partially hydrogenated oil.
Partial Hydrogenation gives products soft buttery consistency, but partially hydrogenated oils contain ‘trans-fat.’ Trans-fat increases LDL cholesterol level & decreases HDL cholesterol level.
Due to serious health risk, partially hydrogenated products will become almost extinct in the future. Fully hydrogenated products exist in solid form. They don’t contain trans-fat, but they do contain saturated fats.
Key market segments covered
By Source
Palm Oil
Soybean Oil
Sunflower Oil
Rapeseed Oil
Others
By Process
Non-hydrogenated oil
Partially hydrogenated oil
Fully hydrogenated oil
By End User
Home cooking
Food Industry.
Edible Oil Market Geographical Shares
Based on Geography, Global Edible Oil Market can be segmented into North America, South America, Europe, Asia-Pacific, rest of the world. The US, China, India, Brazil are the biggest consumers of edible oil.
The change in consumption in any country can be attributed to per capita consumption effector population effect or combined effect.
Despite the sizeable overall consumption in China & India, per capita consumption in these countries is still lower than the US. Growing Per capita consumption in India, China, and Indonesia is expected to drive the edible oil market.
North America & Europe have a strong preference for oils with healthy fat composition as well as non-GMO products.
Edible Oil Market Competitive Analysis
The industry is highly driven by unfair trade practices globally, which is profoundly affecting the market. Good oil Market consists of Multinational players as well as big and small domestic players.
Some of the major companies included in the Global Edible oil market are Sundrop, Wilmar International, Cargill Inc., Mazola Oils, Unilever, Bunge Ltd., Marico, CONFO Group, Nisshin Olillio, Adani Group, etc.
Edible Oil Market Report Scope
The report covers the key factors impacting the market, Porter 5 Forces, Product Benchmarking, and company profiles. The global Edible oil market is segmented by source (Palm Oil, Soybean Oil, Sunflower Oil, Rapeseed Oil, and others) by the process (Non-hydrogenated oil, partially hydrogenated oil, and fully hydrogenated oil) and by End-user (Home cooking and Food Industry). Based on geography the market is segmented into – North America, South America, Europe, Asia Pacific and Rest of the world.
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