Posted on 24 Jan 2019
Global Vegetable Oil Market to Reach 262 Million Tons by 2024
Vegetable oil is a natural oil produced from plant materials such as soy bean, palm fruit, rapeseed, cotton seed, sunflower seed, coconut, maize, etc. At fairly low temperature, it usually remains liquid and mostly comes in a light yellow colour with mild, bearable odour. It has a plethora of benefits as it reduces the risk of cardiovascular diseases, improves metabolism and digestion, lowers chances of breast cancer, and provides balanced and healthy ratio of omega-6 and omega-3 fatty acids.
Vegetable oil is used as a cooking medium for frying, as a salad dressing or as shortening agent in baking. It also has non-food uses in products like cosmetics, greases, lubricants, candles, and soaps and detergents. Another recent non-food use of vegetable oil is in the biofuel industry as a feedstock in the production of biodiesel and as an alternative to mineral oil for use in power stations. According to a new report by Expert Market Research, the global vegetable oil market reached a volume of 203 Million Tons in 2018 and is further expected to reach 262 Million Tons by 2024.
The production of vegetable oil witnessed a steady growth during 2014-2018. Introduction of the application of vegetable oil as biodiesel feedstock coupled with biofuel policies have led to an increase in its demand in the biofuel industry. Initiation of research and development by companies and governments has helped the manufacturers of vegetable oil in reducing the trans-fat content of the oil and improving yield. Moreover, rising population, growing demand in food sector, increasing disposable incomes, growing health consciousness among consumers along with a strong demand from emerging markets are some of the other factors that have facilitated the market growth.
Key findings from the report:
- The major end-uses of vegetable oil include food, industrial and biofuel. In 2018, food represented the largest end-use segment with the majority of the market share.
- There are several types of vegetable oil such as palm oil, soybean oil, canola oil, sunflower oil, coconut oil, etc.
- Region-wise, Indonesia dominated the market with a share of more than a fifth of the total global production in 2018. It was followed by China, Malaysia, European Union, US, Argentina and Brazil.
- The global vegetable oil market is surrounded by a number of players. Some of these players include Cargill, ADM, Louis Dreyfus, Bunge and Wilmar.
To view the report summary and Table of Contents, click on: https://www.expertmarketresearch.com/reports/vegetable-oil-market
Expert Market Research has analysed the global vegetable oil market according to end-uses, major regions and top players:
Market breakup by End-use
- Food
- Industrial
- Biofuel
Market breakup by Vegetable Oil Type
- Palm Oil
- Soybean Oil
- Canola Oil
- Sunflower Oil
- Coconut Oil
Market breakup by Region
- Indonesia
- China
- Malaysia
- European Union
- US
- Argentina
- Brazil
Top players
- Cargill
- ADM
- Louis Dreyfus
- Bunge
- Wilmar
About Us
Expert Market Research (EMR) is a market research and consultancy firm providing syndicated and custom research along with consultancy services to a wide clientele base which includes Fortune 1000 companies as well as small and medium enterprises. With our tailored approach, the clients gain valuable and unbiased insights that help to improve their competitive edge and realize sustainable growth.
With a keen focus on the qualitative aspect as well as accuracy of the reports, we align our resources and services as per the client’s requirement and offer a flexible engagement model that best suits their needs. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical & Materials, Energy & Mining, Packaging and Agriculture.
Contact Us
Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
Related Report
The Asia Pacific tropical fruit puree market reached a production volume of 3.03 million tons in 2018. The market in the Asia Pacific is expected to grow further in the coming years, growing at a CAGR...
The EMEA saccharin market is being driven by the growing global consumption of saccharin with about USD 252 million worth of the low-calorie sweetener being consumed in 2018.
The LATAM saccharin market is being driven by the growing artificial high-intensity sweetener (HIS) industry. Globally, the artificial HIS market stood at nearly USD 1.8 billion in 2018. It is expecte...
The Asia Pacific saccharin market is being aided by the healthy growth in the production of saccharin in China. In 2018, China produced 16,219.68 tonnes of the low-calorie sweetener. The global growth...
The North America saccharin market was aided by the growing market for artificial high-intensity sweetener (HIS) which attained nearly USD 1.8 billion in 2018. Between 2019 to 2024, the artificial HIS...
Have any queries or concern?
