The Global Edible Oil Market was valued at US$ 108.29 billion in 2021 and is predictable to reach US$ 150.74 billion by 2030 which is projected to attain a CAGR of 3.7 % during the forecast period from 2021- 2030.
Edible oil or cooking oil is fat of plant, microbial origin which is in liquid form at room temperature and is used for baking, frying, food preparation, salad dressings, or other types of cooking. It can be extracted from numerous sources such as olive, coconut, sesame seeds, mustard seeds, groundnuts among others.
The rising demand for edible oil is attributed to an increase in awareness and popularity of unprocessed, healthy organics, non-refined oils. In addition, vigorous demand for organic health-based products, rising consumption of higher-grade edible oils or cooking oils by the health-conscious consumers, and demand from numerous applications such as in the confectionery industry for candies production are expected to drive the global edible oil market during the forecast period.
Owing to disturbed lifestyles the consumers are opting for healthy food. Rising cases of obesity and cardiovascular diseases are augmenting the consumers for opting for healthy food. Further, the demand for olive and coconut oil is being increased in bakery and cooking applications in the past years as they are bland in taste unlike mustard oil, and help in sustaining the original flavour. Rising urban working culture limits the availability of time for cooking thereby increasing consumption of processed foods that require frying which is also expected to surge the market growth. Such inclination for edible oils has influenced the food manufacturers to shift their focus by offering edibles enriched with vitamins, natural anti-oxidants, omega 3, and other ingredients which are good for health & consumption.
However, prolonged use of certain types of edible oils and over-frying oil increases the level of cholesterol, blood pressure, and vascular inflammation which is expected to hinder the market growth. The increasing demand for non-GMO cooking oils such as coconut oil, olive oil, sunflower oil, palm oil, soybean oil, and canola oil and availability of retail segment is also expected for increasing the sales of edible oil during the forecast period thereby increasing the market growth.
The Global Edible Oil Market is segmented by type, nature, packaging type, end-user, distribution channel, and region. Based on type, it is categorized into soybean oil, olive oil, rapeseed oil, palm oil, sunflower oil, corn oil, and others. By nature, it bifurcates into conventional and organic. Packaging type is bifurcated into HDPE (High-Density Polyethylene) containers, PET (Polyethylene Terephthalate) bottles, semi-rigid containers, tinplate containers, PVC (Poly Vinyl Chloride) bottles, glass bottles, flexible plastic pouches, and others. Based on end-user, it is categorized into food services, residential, food processing, and others. The distribution channel is bifurcated into retail stores, online sales channels, hypermarket/supermarket, and business to business. Based on regional insights, the global edible oil market is categorized into North America (US, Canada, Mexico, Rest of America), Asia Pacific (India, China, Rest of Asia Pacific), Europe (UK, Germany, Russia, Rest of Europe) and Rest of the world (Latin America and Middle East & Africa).
Asia Pacific region is dominating the global edible oil market owing to awareness for low-calorie food, increasing popularity, rising food & beverages industry, growing health consciousness & indispensable incomes of the consumers. In addition, increased cooking oil production, higher daily consumption8, and higher import volumes are also anticipated to boost the revenue of cooking in the region. Fish oil has emerged as the dominant market in the region owing to a huge concentration of aquaculture industry in China, Vietnam, Indonesia, and India.
Prominent players inducing the Global Edible Oil Market are Wilmar International Ltd., IFFCO, American Vegetable Oils Inc., ACH Food Companies Inc., Henry Lamotte Oils GmbH, SOVENA, Valtris Specialty Chemicals, SALAD OILS INTERNATIONAL CORPORATION, Olenex Sàrl, Basso Fedele, Archer Daniels Midland Company, Bunge Limited, Kaneka Corporation, Louis Dreyfus Company, SIFCA SA, ADM, Cargill Incorporated, Bunge Limited, Apetit Group, Bunge North America Inc., Adani Group, Hebany Group, Ruchi Soya Industries Ltd., Edible Oils Ltd., Olympic Oil Industries Limited, Figli, Sime Darby Plantation, Olam International Limited, George Weston Foods Limited, and Nutiva among others.
Segmentation and Scope of the Global Edible Oil Market
Global Edible Oil Market is segmented by type, nature, packaging type, end-user, distribution channel, and region.
By Packaging Type
By Distribution Channel
Rest of World
Middle East & Africa
Prominent players in the Global Edible Oil Market among other includes