Vegetable Oils Market in Trends of Sustainable Production

Vegetable Oils Market

Vegetable oils such as palm, soybean, sunflower, canola and corn oils are obtained from seeds, nuts and fruits of plants through mechanical and chemical extraction processes. These oils are widely used in various food applications such as cooking oil, salad dressings, mayonnaise, bakery products and snack items owing to their excellent nutritional profile, versatility and affordability. The demand for vegetable oils is increasing around the world due to rising health consciousness among people.

Global vegetable oils market is estimated to be valued at US$ 404803.29 Bn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the vegetable oils market are Solvay S.A., Tokuyama Corporation, Occidental Petroleum Corporation, Ward Chemical Ltd., Tata Chemicals Ltd., TETRA Technologies, Inc., Zirax Limited, Weifang Yuze Chemical Co., Ltd., Mey Chern Chemicals Sdn Bhd., Anmol Chemicals Group, TCI Sanmar Chemicals S.A.E., and Weifang Haibin Chemical Co., Ltd.

Growing consumer demand for natural and healthy edible oils has boosted the production of various vegetable oils globally. Palm oil continues to be the most consumed vegetable oil in the world owing to its wide availability and versatile applications in food and non-food industries.

The expansion of fast food chains and food processing industry worldwide has significantly increased the demand for vegetable oils. Key players are focusing on expanding their production facilities as well asglobal presence to cater to the growing needs of various industrial sectors.

Market Key Trends

Sustainable production of vegetable oils has emerged as a key trend in the market. With rising concerns about environmental impact and food security, companies are investing in innovative techniques like intercropping, drip irrigation and waste management to produce vegetable oils in a sustainable and eco-friendly manner. They are also undertaking various initiatives to support farmers and promote responsible agricultural practices. Adoption of sustainable production methods is expected to ensure long term supply of quality vegetable oils and support overall market growth in the coming years.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the vegetable oils market share is low due to high capital requirement and established brand value of existing players.
Bargaining power of buyers: The bargaining power of buyers in the vegetable oils market is high due to availability of substitutes and undifferentiated products.
Bargaining power of suppliers: The bargaining power of suppliers in the vegetable oils market is moderate due to availability of substitutes for raw materials.
Threat of new substitutes: The threat of new substitutes in the vegetable oils market is moderate due to availability of alternatives like animal fats.
Competitive rivalry: Competitive rivalry in the vegetable oils market is high.

Geographically, Asia Pacific accounted for the largest share in the vegetable oils market in terms of value in 2024. China, India, Indonesia, and Malaysia are some of the major consumers of vegetable oils in the region.

The vegetable oils market in Latin America is expected to grow at the fastest CAGR during the forecast period. Increased demand for vegetable oils from countries like Brazil, Mexico, and Argentina is driving the market growth in the region.

Get more insights Vegetable Oils Market


About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
(https://www.linkedin.com/in/money-singh-590844163)



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