- Feb. 28, 2023
-- The Global edible oils market was valued at USD 217.71 billion in 2021, and despite the impact of the virus outbreak, it experienced a positive expansion due to increased demand for food. The market grew by 36% from 2020 to 2021. The volume of vegetable oil in the market was 211.71 million metric tonnes in 2021. Cooking oil usage has risen from 184 million metric tonnes in 2016 to 208 million metric tonnes in 2021 due to the addition of micronutrients to the oil.
Cooking oil usage has increased from 184 million metric tonnes in 2016 to 208 million metric tonnes in 2021 as a result of the process of adding micronutrients to oil.Global Edible Oil Industry: Key Insights
Trends and Developments in the Edible Oil Industry
- The food business is a significant market due to growing popularity of vegan diets.
- Palm oil is the most widely used cooking oil, with the largest market share in the global edible oil industry.
- Traditional oilseeds like groundnut, rapeseed, sesame, safflower, linseed, and castor are major sources of conventional edible oil.
- Soybean and sunflower oils are gaining popularity, while rice bran oil and cottonseed oil are important non-conventional oils.
- Asia-Pacific (APAC) has the largest market share in the global edible oil industry, driven by high demand from the food and other industrial sectors.
- Surging Demand for Sustainable Packaging:
- Increasing trend towards sustainable packaging for environmental sustainability.
- Reusable vegetable oil spray bottles preferred over disposable containers.
- Likely to fuel demand for sustainable packaging and assist market expansion.
- Cold Pressing and Refining Technologies:
- Health concerns leading to avoidance of heat pressing for oil extraction.
- New cold pressing and refining technologies being developed for safe and non-hazardous extraction.
- Bioactive constituents preserved through omission of thermal and chemical treatments and refining processes.
- Declining Import of Crude Oil:
- Global crude palm oil prices falling, representing around 61% of nation's edible oil imports.
- Indonesia, the largest palm oil supplier, abolishing export prohibition.
- Increasing Vegetable Oil Production:
- Global production of vegetable oils continues to rise in crop year 2021-22.
- Predicted drop in rapeseed oil production offset by gains in palm, sunflower, and soybean oil production.
Find Out More:- Global Edible Oil Market Future Forecast to 2027- COVID-19 and Russia-Ukraine War Impact Assessment (https://www.makreo.com/report/global-edible-oil-market-fu...)
*Note: Free Cutomization is Available for the Mention Topic
Related Report:-Asia-Pacific Palm Oil Market Forecast to 2028 (https://www.makreo.com/report/asia-pacific-palm-oil-marke...)
Send us query at email@example.com