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Global Edible Oils and Fats Market Size, Share, Forecast: By Product: Edible Oil, Edible Fats; By Type: Natural, Synthetic; By Nature: Organic, Conventional; By Form: Solid, Liquid; By Source: Animal, Plant; By Application: Bakery and Confectionery, Others; By End-Use; By Distribution Channel; Regional Analysis; Competitive Landscape; 2024-2032
Global Edible Oils and Fats Market Outlook
The global edible oils and fats market size attained approximately USD 227.68 billion in 2023. The market is estimated to grow at a CAGR of 5.8% in the forecast period of 2024-2032, reaching a value of around USD 378.15 billion by 2032.
Key Trends in the Market
Edible oils and fats are lipid substances that can be obtained from foods, animals, or other synthetic sources. They are primarily used for cooking and adding flavour to the food and serve as an important component of a well-balanced diet.
- The growing demand for organic oils and fats due to their better nutrient retention properties and pure taste, especially among health-conscious individuals, is one of the crucial edible oils and fats market trends.
- A rise in the implementation of vegetable oils in the production of biofuel, a sustainable alternative to conventional fuel, also provides impetus to the market expansion.
- There is a surge in the development of sustainable oilseed cropping systems due to growing environmental awareness. Moreover, increasing attempts to enhance the traceability and transparency of oil supply chains propel the edible oils and fats market demand.
- Increased usage of plant-based oils such as coconut oil and olive oil due to burgeoning veganism in developed countries such as the United Kingdom, Australia, and the United States also contributes to the market growth.
Global Edible Oils and Fats Market Analysis
Based on product, the market is bifurcated into edible oil and edible fats. The edible oil segment is further divided based on type into soyabean oil, sunflower oil, olive oil, coconut oil, and palm oil, among others. Meanwhile, the edible fats segment is further classified based on type into cocoa butter replacer, cocoa butter substitute, filling fats, milk-fat replacers, spread fat, frying fats, margarine, shortenings, and butter, among others.
On the basis of type, the edible oils and fats market is classified into natural and synthetic. Based on nature, the market is categorised into organic and conventional. On the basis of form, the market is bifurcated into solid and liquid. Based on source, the market is divided into animal and plant. On the basis of application, the global market is classified into bakery and confectionery, convenience foods, sauces, spreads and dressings, and HORECEA, among others.
The edible oils and fats market segmentation, on the basis of end-use, includes food and beverage, personal care and cosmetics, biofuel and energy, pharmaceuticals, and chemicals, among others. Based on distribution channel, the market is categorised into online and offline. The major regional markets for edible oil and fats are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global edible oils and fats market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Archer Daniels Midland Company
- Cargill, Incorporated
- Bunge Limited
- Wilmar International Limited
- IFFCO Group
- FUJI OIL CO., LTD.
- IOI Corporation Berhad
- Richardson International Limited
- The Nisshin OilliO Group, Ltd.
- Ventura Foods, LLC
- Others
Market Share by End Use
The food and beverage sector occupies a significant portion of the edible oils and fats market share owing to the extensive usage of edible oils and fats for the preparation of food. Oils are primarily used for frying, sauteing, and providing flavour to dishes in households as well as commercial kitchens.
Fats are utilised to provide a creamy and smooth texture to food products and improve the richness and flavour of baked goods. Additionally, the escalating popularity of convenience food among working individuals who do not have sufficient time for cooking every day positively influences the market growth.
Market Share by Region
The Asia Pacific accounts for a substantial share of the market due to the growing population in the region, driving the usage of edible oil and fats in households. Moreover, the surge in health awareness, especially among the young population, boosts the demand for low-calorie oils.
The rise in disposable income of individuals in the region also facilitates the sales of organic and high-quality edible oils and fats. Additionally, the expansion of distribution channels such as supermarkets and hypermarkets in developing economies provides lucrative opportunities for the edible oils and fats market growth.
Competitive Landscape
Archer Daniels Midland Company, established in 1902, is a food processing company that has its headquarters in Minnesota, the United States. The product portfolio of the company includes speciality food and feed ingredients, biodiesel, animal nutrition solutions, and fertilisers, among others.
Cargill, Incorporated, is a multinational food corporation founded in 1865 and based in Minnesota, the United States. The company mainly offers products and services to the food, agricultural, financial, and industrial sectors.
Bunge Limited, founded in 1818 and based in Missouri, the United States, is an agribusiness and food corporation. The company purchases, transports, and sells edible oils, foods, fertilisers, and milling products, among others.
Other edible oils and fats market players include Wilmar International Limited, IFFCO Group, FUJI OIL CO., LTD., IOI Corporation Berhad, Richardson International Limited, The Nisshin OilliO Group, Ltd., and Ventura Foods, LLC, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Type |
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| Breakup by Nature |
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| Breakup by Form |
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| Breakup by Source |
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| Breakup by Application |
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| Breakup by End-Use |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Edible Oils and Fats Market Analysis
8.1 Key Industry Highlights
8.2 Global Edible Oils and Fats Historical Market (2018-2023)
8.3 Global Edible Oils and Fats Market Forecast (2024-2032)
8.4 Global Edible Oils and Fats Market by Product
8.4.1 Edible Oil
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Soyabean Oil
8.4.1.3.2 Sunflower Oil
8.4.1.3.3 Olive Oil
8.4.1.3.4 Coconut Oil
8.4.1.3.5 Palm Oil
8.4.1.3.6 Others
8.4.2 Edible Fats
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Breakup by Type
8.4.2.3.1 Cocoa Butter Replacer
8.4.2.3.2 Cocoa Butter Substitute
8.4.2.3.3 Filling Fats
8.4.2.3.4 Milk-Fat Replacers
8.4.2.3.5 Spread Fat
8.4.2.3.6 Frying Fats
8.4.2.3.7 Margarine
8.4.2.3.8 Shortenings
8.4.2.3.9 Butter
8.4.2.3.10 Others
8.5 Global Edible Oils and Fats Market by Type
8.5.1 Natural
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Synthetic
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Edible Oils and Fats Market by Nature
8.6.1 Organic
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Conventional
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Edible Oils and Fats Market by Form
8.7.1 Solid
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Liquid
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Edible Oils and Fats Market by Source
8.8.1 Animal
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Plant
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.9 Global Edible Oils and Fats Market by Application
8.9.1 Bakery and Confectionery
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Convenience Foods
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Sauces
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Spreads and Dressings
8.9.4.1 Historical Trend (2018-2023)
8.9.4.2 Forecast Trend (2024-2032)
8.9.5 HORECA
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
8.9.6 Others
8.10 Global Edible Oils and Fats Market by End-Use
8.10.1 Food and Beverage
8.10.1.1 Historical Trend (2018-2023)
8.10.1.2 Forecast Trend (2024-2032)
8.10.2 Personal Care and Cosmetics
8.10.2.1 Historical Trend (2018-2023)
8.10.2.2 Forecast Trend (2024-2032)
8.10.3 Biofuel and Energy
8.10.3.1 Historical Trend (2018-2023)
8.10.3.2 Forecast Trend (2024-2032)
8.10.4 Pharmaceuticals
8.10.4.1 Historical Trend (2018-2023)
8.10.4.2 Forecast Trend (2024-2032)
8.10.5 Chemicals
8.10.5.1 Historical Trend (2018-2023)
8.10.5.2 Forecast Trend (2024-2032)
8.10.6 Others
8.11 Global Edible Oils and Fats Market by Distribution Channel
8.11.1 Online
8.11.1.1 Historical Trend (2018-2023)
8.11.1.2 Forecast Trend (2024-2032)
8.11.2 Offline
8.11.2.1 Historical Trend (2018-2023)
8.11.2.2 Forecast Trend (2024-2032)
8.12 Global Edible Oils and Fats Market by Region
8.12.1 North America
8.12.1.1 Historical Trend (2018-2023)
8.12.1.2 Forecast Trend (2024-2032)
8.12.2 Europe
8.12.2.1 Historical Trend (2018-2023)
8.12.2.2 Forecast Trend (2024-2032)
8.12.3 Asia Pacific
8.12.3.1 Historical Trend (2018-2023)
8.12.3.2 Forecast Trend (2024-2032)
8.12.4 Latin America
8.12.4.1 Historical Trend (2018-2023)
8.12.4.2 Forecast Trend (2024-2032)
8.12.5 Middle East and Africa
8.12.5.1 Historical Trend (2018-2023)
8.12.5.2 Forecast Trend (2024-2032)
9 North America Edible Oils and Fats Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Edible Oils and Fats Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Edible Oils and Fats Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Edible Oils and Fats Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Edible Oils and Fats Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Archer Daniels Midland Company
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Cargill, Incorporated
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Bunge Limited
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Wilmar International Limited
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 IFFCO Group
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 FUJI OIL CO., LTD.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 IOI Corporation Berhad
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Richardson International Limited
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 The Nisshin OilliO Group, Ltd.
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Ventura Foods, LLC
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Edible Oils and Fats Market: Key Industry Highlights, 2018 and 2032
2. Global Edible Oils and Fats Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Edible Oils and Fats Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Edible Oils and Fats Historical Market: Breakup by Type (USD Billion), 2018-2023
5. Global Edible Oils and Fats Market Forecast: Breakup by Type (USD Billion), 2024-2032
6. Global Edible Oils and Fats Historical Market: Breakup by Nature (USD Billion), 2018-2023
7. Global Edible Oils and Fats Market Forecast: Breakup by Nature (USD Billion), 2024-2032
8. Global Edible Oils and Fats Historical Market: Breakup by Form (USD Billion), 2018-2023
9. Global Edible Oils and Fats Market Forecast: Breakup by Form (USD Billion), 2024-2032
10. Global Edible Oils and Fats Historical Market: Breakup by Source (USD Billion), 2018-2023
11. Global Edible Oils and Fats Market Forecast: Breakup by Source (USD Billion), 2024-2032
12. Global Edible Oils and Fats Historical Market: Breakup by Application (USD Billion), 2018-2023
13. Global Edible Oils and Fats Market Forecast: Breakup by Application (USD Billion), 2024-2032
14. Global Edible Oils and Fats Historical Market: Breakup by End-Use (USD Billion), 2018-2023
15. Global Edible Oils and Fats Market Forecast: Breakup by End-Use (USD Billion), 2024-2032
16. Global Edible Oils and Fats Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
17. Global Edible Oils and Fats Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
18. Global Edible Oils and Fats Historical Market: Breakup by Region (USD Billion), 2018-2023
19. Global Edible Oils and Fats Market Forecast: Breakup by Region (USD Billion), 2024-2032
20. North America Edible Oils and Fats Historical Market: Breakup by Country (USD Billion), 2018-2023
21. North America Edible Oils and Fats Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Europe Edible Oils and Fats Historical Market: Breakup by Country (USD Billion), 2018-2023
23. Europe Edible Oils and Fats Market Forecast: Breakup by Country (USD Billion), 2024-2032
24. Asia Pacific Edible Oils and Fats Historical Market: Breakup by Country (USD Billion), 2018-2023
25. Asia Pacific Edible Oils and Fats Market Forecast: Breakup by Country (USD Billion), 2024-2032
26. Latin America Edible Oils and Fats Historical Market: Breakup by Country (USD Billion), 2018-2023
27. Latin America Edible Oils and Fats Market Forecast: Breakup by Country (USD Billion), 2024-2032
28. Middle East and Africa Edible Oils and Fats Historical Market: Breakup by Country (USD Billion), 2018-2023
29. Middle East and Africa Edible Oils and Fats Market Forecast: Breakup by Country (USD Billion), 2024-2032
30. Major Importing Countries by Volume
31. Major Exporting Countries by Volume
32. Major Importing Countries by Value
33. Major Exporting Countries by Value
34. Global Edible Oils and Fats Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 227.68 billion.
The market is projected to grow at a CAGR of 5.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 378.15 billion by 2032.
The major market drivers are a rise in the demand for plant-based oil among the vegan population, the growing usage of vegetable oils and fats in cooking due to their several health benefits, and the changing dietary preferences of consumers.
The key trends of the market include growing demand for organic oil and fats among health-conscious customers, the rising usage of vegetable oils in biofuels, and the development of sustainable cropping systems for edible oils due to growing environmental concerns.
The major regions in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The different types of edible oils and fats are natural and synthetic.
The key players in the market are Archer Daniels Midland Company, Cargill, Incorporated, Bunge Limited, Wilmar International Limited, IFFCO Group, FUJI OIL CO., LTD., IOI Corporation Berhad, Richardson International Limited, The Nisshin OilliO Group, Ltd., and Ventura Foods, LLC, among others.
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