Global Vegetable Oil Market: By Type: Palm Oil, Soybean Oil, Canola Oil, Sunflower Oil, Coconut Oil; By End USe; By Region: North America, Europe, Asia Pacific, Latin America, Middle East and Africa; Historical Production and Consumption (2014-2018); Production and Consumption Forecast (2019-2024); Competitive Landscape and Supplier Analysis


Global Vegetable Oil Market Key Insights:

  • Market Overview
  • Market Analysis
  • Market Outlook 2019-2024
  • Trade Data Analysis
  • Market Breakup by Region
  • Market Breakup by Application
  • Competitive Landscape
  • Capacity Addition & Plant Turnarounds
  • Mergers & Acquisitions

 

Market Outlook

The global vegetable oil market is projected to grow at a CAGR of nearly 1.8% in the forecast period of 2019-2024 to attain a production volume of 224.2 million tonnes.  In 2017, the market continued to witness a growth in its production, even after the slow recovery of palm oil production after the 2015 El Niño.

The rising per capita incomes in emerging economies are driving the global market. The consumption of vegetable oil as food is expected to see an annual growth of 1% in the forecast period. The per capita level of food products containing vegetable oil in emerging nations is expected to match those of the developed economies, growing 0.4% annually in the forecast period. This projected growth in its consumption will be fulfilled by the expansion of oilseed cultivation and an increase of imports, especially palm oil, from Indonesia and Malaysia. India, the second largest consumer, just behind China, will witness a higher consumption growth of 3.1% per annum of vegetable oil-based food.

Indonesia and Malaysia are the leading markets and are projected to witness an annual growth of 1.8% and 1.4% respectively in the coming years. Both countries are also the leading exporters of vegetable oil. Majority of the vegetable oil produced by Indonesia and Malaysia are exported with Indonesia exporting almost 70% of its vegetable oil and Malaysia exporting over 80% of its total production. However, the exports from these two significant markets are expected to see a slight decline due to rising domestic demand for use in the food and biofuels sectors. Indonesia and Malaysia will continue to dominate the exports even after the expected decline. Indonesia and Malaysia are followed by Argentina, which also exports over two-thirds of the vegetable oil produced domestically.  India, on the other hand, is the leading importer of and is expected to account for more than a quarter of the global imports in the forecast period, with its annual imports growing by 4.7% per annum. Among the production of agricultural commodities, vegetable oil holds the majority of the trade share with 41% and is projected to continue its domination in the coming years.

Properties and Applications

Vegetable oils are obtained from natural sources like seeds, nuts, and fruits. They find expansive applications in sectors ranging from food to household and personal care sectors. They are a rich nutrient source and are used as cooking oil and as an ingredient in margarine, non-dairy creamers, and ice-cream. They are also used as a replacement for animal fats. For non-food applications, vegetable oils are used in the production of soaps, detergents, lubricants, greases, and candles. Biofuel, too, is emerging as a significant application sector.

Some of the end-use sectors include:

  • Food
  • Industrial
  • Biofuel
  • Others

North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regions considered in the report. 

Market Analysis

The increasing use in food applications, especially in emerging countries, aided the global market growth. The global market is being driven by its increasing consumption in emerging economies like China and India. The rise in vegetable oil consumption in these economies is a result of the growing population, changing diets, and higher standards of living. The rising demand for its imports has provided further impetus to the market.

Palm oil is the leading type in the global market and is produced mainly in Indonesia and Malaysia. In Indonesia, palm oil production is expected to witness an annual growth of 1.8% in the forecast period. Additionally, palm oil will see significant growth in countries like Thailand, Columbia, and Nigeria.

The vegetable oil production in the world depends upon the production of perennial tropical oil plants like oil palm and the crush of oilseeds. Indonesia and Malaysia account for over one-third of the total production, with Indonesia as the leading producer globally.

Over half the vegetable oil being produced globally is being derived by the crushing of soybeans and other oilseeds.  Its application as a feedstock of biodiesel has tapered down in recent years as compared to the last decade when biofuel policies were being introduced. However, it is still expected to witness an annual growth of 0.3% annually in the coming five years. The decrease use in biodiesel production in the US and European Union is offset by its increasing use in this sector by emerging nations like Argentina.

Argentina exports over 40% of the biodiesel it produces and is expected to use almost three-fourths of its vegetable oil produced domestically as feedstock for biodiesel in the forecast period. In Indonesia and Brazil, too, the growth of vegetable oil application in the biodiesel sector will outpace the food sector. Its application as biodiesel feedstock will account for about 39% of its applications in the forecast period in the European Union.

Competitive Landscape

The report provides a detailed analysis of the following key players in the global market looking into their market share, capacity, and latest developments like mergers and acquisitions, capacity expansions, and plant turnarounds:

  • Cargill, Incorporated
  • Archer Daniels Midland Company 
  • Louis Dreyfus Company
  • Bunge Limited
  • Wilmar International Ltd
  • Others

The EMR report gives an in-depth insight into the market by providing an analysis of Porter’s five forces and SWOT analysis.

1    Preface
2    Research Methodology
3    Executive Summary

    3.1    Market Overview
    3.2    Key Demand Drivers
    3.3    Key Players
    3.4    Supply Market Changes
4    Global Vegetable Oil Market Outlook
5    Global Vegetable Oil Market Analysis

    5.1    Chart: Historical Consumption (2014-2018) & Forecast (2019-2024)
    5.2    Chart: Historical Production (2014-2018) & Forecast (2019-2024)
    5.3    Chart: Market Breakup by Type
        5.3.1    Palm Oil
        5.3.2    Soybean Oil
        5.3.3    Canola Oil
        5.3.4    Sunflower Oil
        5.3.5    Coconut Oil
        5.3.6    Others
    5.4    Chart: Market Breakup by Type: Consumption and Production (2014-2024)
        5.4.1    Palm Oil
        5.4.2    Soybean Oil
        5.4.3    Canola Oil
        5.4.4    Sunflower Oil
        5.4.5    Coconut Oil
        5.4.6    Others
    5.5    Chart: Market Breakup by Application
        5.5.1    Food
        5.5.2    Industrial
        5.5.3    Biofuel 
        5.5.4    Others
6    Regional Vegetable Oil Market Analysis
    6.1    Figure: Market Production & Consumption (2014-2024)

        6.1.1    Palm Oil
            6.1.1.1    North America
            6.1.1.2    Europe
            6.1.1.3    Asia Pacific
            6.1.1.4    Latin America
            6.1.1.5    Middle East and Africa
        6.1.2    Soybean Oil
            6.1.2.1    North America
            6.1.2.2    Europe
            6.1.2.3    Asia Pacific
            6.1.2.4    Latin America
            6.1.2.5    Middle East and Africa
        6.1.3    Canola Oil
            6.1.3.1    North America
            6.1.3.2    Europe
            6.1.3.3    Asia Pacific
            6.1.3.4    Latin America
            6.1.3.5    Middle East and Africa
        6.1.4    Sunflower Oil
            6.1.4.1    North America
            6.1.4.2    Europe
            6.1.4.3    Asia Pacific
            6.1.4.4    Latin America
            6.1.4.5    Middle East and Africa
        6.1.5    Coconut Oil
            6.1.5.1    North America
            6.1.5.2    Europe
            6.1.5.3    Asia Pacific
            6.1.5.4    Latin America
            6.1.5.5    Middle East and Africa
7    SWOT Analysis
    7.1    Overview
    7.2    Strengths
    7.3    Weaknesses 
    7.4    Opportunities
    7.5    Threats
8    Value Chain Analysis
9    Porter’s Five Forces Analysis

    9.1    Overview
    9.2    Buyer’s Power
    9.3    Supplier’s power
    9.4    New Entrants
    9.5    Degree of Rivalry
    9.6    Substitutes
10    Global (HS Code-1511, 1512, 1514) Trade Analysis (2018) 
    10.1    Major Exporting Countries by Value & Volume
    10.2    Major Importing Countries by Value & Volume
11    Regional Vegetable Oil Price Analysis
    11.1    Palm Oil
        11.1.1    North America Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.1.2    Europe Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.1.3    Asia Pacific Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.1.4    Latin America Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.1.5    Middle East and Africa Historical Price Trends (2014-2018) & Forecast (2019-2024)
    11.2    Soybean Oil
        11.2.1    North America Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.2.2    Europe Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.2.3    Asia Pacific Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.2.4    Latin America Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.2.5    Middle East and Africa Historical Price Trends (2014-2018) & Forecast (2019-2024)
    11.3    Canola Oil
        11.3.1    North America Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.3.2    Europe Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.3.3    Asia Pacific Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.3.4    Latin America Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.3.5    Middle East and Africa Historical Price Trends (2014-2018) & Forecast (2019-2024)
    11.4    Sunflower Oil
        11.4.1    North America Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.4.2    Europe Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.4.3    Asia Pacific Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.4.4    Latin America Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.4.5    Middle East and Africa Historical Price Trends (2014-2018) & Forecast (2019-2024)
    11.5    Coconut Oil
        11.5.1    North America Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.5.2    Europe Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.5.3    Asia Pacific Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.5.4    Latin America Historical Price Trends (2014-2018) & Forecast (2019-2024)
        11.5.5    Middle East and Africa Historical Price Trends (2014-2018) & Forecast (2019-2024)
12    Competitive Landscape & Supplier Analysis
    12.1    Cargill, Incorporated 
    12.2    Archer Daniels Midland Company 
    12.3    Louis Dreyfus Company
    12.4    Bunge Limited
    12.5    Wilmar International Ltd
    12.6    Others
13    Events and Developments

Additional Customisation Available

14    Manufacturing Process
    14.1     Detailed Process Flow
    14.2     Operations Involved
    14.3     Mass Balance
15    Cost Analysis
    15.1    Land, Location and Site Development
    15.2    Construction
    15.3    Plant Machinery
    15.4    Cost of Raw Material
    15.5    Packaging
    15.6    Transportation
    15.7    Utilities
    15.8    Manpower
    15.9    Other Capital Investment

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