Edible Oils Market – Global Industry Analysis

 


The global edible oils market is expected to grow with a CAGR of 7.1 percent for the forecast period of 2021-2028, according to independent market research firms.

This substantial growth is because of the increasing popularity of trans-fat-free oils. Globally, people are aware of health these days and would be more inspired to start using vegetable oils that are low on cholesterol, fat and calories. Other factors driving the growth of the bulk edible oil market are substantial improvements in retail networks, a significant increase in crop yields, and the growing economies in different parts of the world. Increasing use of canola oil, olive oil and trans-fat-free soybean oil would also be driving the global edible oil market in the foreseeable future.

Asia Pacific Region is expected to witness the fastest growth in the edible oil market globally. This is because various types of oilseeds are grown and processed in this region.

India is the largest edible oil importer in the world followed by EU and China. India needs approximately 25 million tons of edible oils every year to cater to its domestic requirements. Out of this, around 10 million are produced within the country from primary and secondary sources. The primary sources are soybean, rapeseed, mustard, groundnut, sunflower, safflower, and nifer. The secondary sources are palm oil, coconut, rice bran, cotton seeds and tree-borne oilseeds. The remaining 60 percent are catered through imports.

Recently, the Indian government has launched a special program National Edible Oil Mission-Oil Palm (NEMO-OP) estimated at INR 11,000 crore to ensure that India achieves self-sufficiency in edible oils. The government is working with the vision of using the forex savings from reduced edible oil imports to be spent on motivating farmers to start the cultivation of palm and oilseeds commercially. It is time the country grew from being an importer to being able to export edible oil.

What is edible oil?

This is a fatty liquid extracted physically from several vegetables and also some tissues of animals. Olive oil is the most appreciated amongst edible oils due to the health benefits it offers and also its taste. This category of oil is extracted from olives mechanically at a low temperature. Other examples of edible oil include mustard oil, sunflower oil, groundnut oil, to name a few.

Edible oils come with various health benefits as they contain essential omega 3 nutrients, vitamins and natural antioxidants that are good for the health of consumers. Demand for edible oils is increasing primarily because of this reason. You can visit edible oil online and know more about why organic oils are the new way to stay fit and healthy.

Market – Segmentation

Based on type

  • Palm oil
  • Canola oil
  • Olive oil
  • Sunflower oil
  • Specialty blended oil
  • Corn oil

Based on end-users

  • Domestic/Retail
  • Industrial
  • Food processor
  • Food service

Based on Geographic locales

  • Europe
  • Middle East
  • Africa
  • Latin America
  • North America
  • Asia Pacific

As much as 40 percent of the market share in the global edible oils market is accounted for by South and East Asia. These regions have a high density of multinationals and local manufactures of edible oils.

Market Drivers for Edible Oil Market

  • Increase in production of oil owing to high crop yields
  • Improvement in living standards of individuals globally
  • Change in dietary habits
  • Increase in consumer preference for healthy oils
  • Growing urbanization supplementing the use of edible oils
Original Source: https://blog.tradologie.com/edible-oils-market-global-industry-analysis/

Comments

Post a Comment

Popular posts from this blog

5 Types Of Spices Exported From India To Yemen

Image
Yemen is home to the world’s largest spice market. Over 500,000 metric tons of  Indian spices  are imported every year from India. India is a major exporter of spices in the world, and it has been exporting its spices to Yemen for many decades ago. There is a growing demand in Middle East countries such as Saudi Arabia and United Arab Emirates (UAE) for Indian spices. Here are five types of spices exported from India to Yemen:   India is the largest  exporter of spices  to Yemen. Spices are a major export commodity and constitute 10% of India’s total exports.   Spices are among the top five commodities exported from India to Yemen. The spices exported include pepper, ginger, turmeric, cardamom, and black pepper.   India is the third-largest supplier of spices in Yemen after Saudi Arabia and Iran. Saudi Arabia is the largest supplier of  Bulk spices  to Yemen and accounts for more than 95% of its spice imports.   The total value of spices exported by India is about $2 billion per annum
Read more

Top 5 Edible Oil Producing Countries in the World

Image
Edible oils  refer to vegetable and animal oils that are fit for human consumption, and have numerous uses in food preparation. There are a variety of types of edible oils available depending on the source, including various plant seeds and nuts, and even some fish species. The countries that produce the most edible oil can vary by year due to changes in climate and seasonal conditions; still, the most common edible oil-producing countries tend to be the same year after year. Let’s take a look at the top 5 edible oil-producing countries in the world today. They are also the largest  edible oil exporters  in the world. 1) India India is currently among the top 3 edible oil-exporting countries globally. India’s  edible oil export  market is largely driven by demand from Asia. Owing to a significant rise in living standards and rise in disposable income levels, Indians have increasingly adopted western food habits, especially as more and more people choose to eat out. According to USDA Fo
Read more

Basmati Rice Market Overview: Saudi Arabia

Image
Basmati rice , which comes from the Hindi word basmati, meaning fragrant, is distinguished by its unique, almost floral aroma and taste. It has become one of the most popular types of rice in many countries around the world due to its quality and reputation as being one of the finest varieties of aromatic rice available. However, it wasn’t always this way – in fact, basmati rice was only introduced to India from Iran via Pakistan some 3,000 years ago! Basmati Rice Consumption in Saudi Arabia In recent years, consumer demand for Basmati rice has grown as a result of increasing awareness of Indian food within Saudi Arabian culture. Food suppliers and restaurants that offer Indian cuisine now  import Basmati Rice from India  to accommodate their growing customer base. This rise in popularity is also partly due to popular television series focusing on South Asian culture which is produced in the country. In 2015, demand for Basmati reached 32,000 tonnes which were valued at USD 50 million.
Read more