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Global Vegetable Oil Market: By Oil Type; By Application; Regional Analysis; Historical Market and Forecast (2015-2025); Market Dynamics; Trade Data Analysis; Manufacturing Processing; Project Details and Cost Analysis; Loans and Financial Assistance; Project Economics; Competitive Landscape; Industry Events and Developments

Global Vegetable Oil Market Outlook

The global vegetable oil market reached a production volume of 207.7 million tons in 2019. The market is projected to grow at a CAGR of nearly 3% in the forecast period of 2020-2025 to attain a production volume of 248 million tons in 2025.

The rising per capita incomes in emerging economies are driving the global vegetable oil market. The consumption 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. Majority of the output 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, it 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 for cooking 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, it used in the production of soaps, detergents, lubricants, greases, and candles. Biofuel, too, is emerging as a significant application sector.

The types of oil include the following:

  • Palm
  • Soybean
  • Canola
  • Sunflower
  • Coconut
  • Palm Kernel
  • Others

It finds wide applications in the following:

  • Food Industry
  • Biofuels
  • Others

North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regions in the global vegetable oil market.

 

Market Analysis

The increasing use in food applications, especially in emerging countries, aided the global market growth. The global vegetable oil market is being driven by its increasing consumption in emerging economies like China and India. The rise in 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 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 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 total product 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 United States 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 the product being produced domestically as feedstock for biodiesel in the forecast period. In Indonesia and Brazil, too, the growth of 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 gives a detailed analysis of the following key players in the global vegetable oil market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Bunge Limited
  • ADM
  • Cargill, Incorporated
  • Wilmar International Ltd.
  • Louis Dreyfus Company
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

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    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Vegetable Oil Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Vegetable Oil Historical Market (2015-2019) 
    8.3    Global Vegetable Oil Market Forecast (2020-2025)
    8.4    Global Vegetable Oil Market by Oil Type
        8.4.1    Palm Oil
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2015-2019)
            8.4.1.3    Forecast Trend (2020-2025)
        8.4.2    Soybean Oil
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2015-2019)
            8.4.2.3    Forecast Trend (2020-2025)
        8.4.3    Canola Oil
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2015-2019)
            8.4.3.3    Forecast Trend (2020-2025)
        8.4.4    Sunflower Oil
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2015-2019)
            8.4.4.3    Forecast Trend (2020-2025)
        8.4.5    Coconut Oil
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2015-2019)
            8.4.5.3    Forecast Trend (2020-2025)
        8.4.6    Palm Kernel Oil
            8.4.6.1    Market Share
            8.4.6.2    Historical Trend (2015-2019)
            8.4.6.3    Forecast Trend (2020-2025)
        8.4.7    Others
    8.5    Global Vegetable Oil Market by Application
        8.5.1    Food Industry
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2015-2019)
            8.5.1.3    Forecast Trend (2020-2025)
        8.5.2    Biofuels
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2015-2019)
            8.5.2.3    Forecast Trend (2020-2025)
        8.5.3    Others
    8.6    Global Vegetable Oil Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2015-2019)
        9.1.2    Forecast Trend (2020-2025)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2015-2019)
        9.2.2    Forecast Trend (2020-2025)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2015-2019)
        9.3.2    Forecast Trend (2020-2025)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2015-2019)
        9.4.2    Forecast Trend (2020-2025)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2015-2019)
        9.5.2    Forecast Trend (2020-2025)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyers Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis (HS Codes – 1511, 1512, 1514)

    12.1    Major Importing Countries
        12.1.1    By Volume
        12.1.2    By Value
    12.2    Major Exporting Countries
        12.2.1    By Volume
        12.2.2    By Value
13    Price Analysis
    13.1    Palm Oil Historical Price Trends (2015-2019) and Forecast (2020-2025)
        13.1.1    North America
        13.1.2    Europe
        13.1.3    Asia Pacific
        13.1.4    Latin America
        13.1.5    Middle East and Africa
    13.2    Soybean Oil Historical Price Trends (2015-2019) and Forecast (2020-2025)
        13.2.1    North America
        13.2.2    Europe
        13.2.3    Asia Pacific
        13.2.4    Latin America
        13.2.5    Middle East and Africa
    13.3    Canola Oil Historical Price Trends (2015-2019) and Forecast (2020-2025)
        13.3.1    North America
        13.3.2    Europe
        13.3.3    Asia Pacific
        13.3.4    Latin America
        13.3.5    Middle East and Africa
    13.4    Sunflower Oil Historical Price Trends (2015-2019) and Forecast (2020-2025)
        13.4.1    North America
        13.4.2    Europe
        13.4.3    Asia Pacific
        13.4.4    Latin America
        13.4.5    Middle East and Africa
    13.5    Coconut Oil Historical Price Trends (2015-2019) and Forecast (2020-2025)
        13.5.1    North America
        13.5.2    Europe
        13.5.3    Asia Pacific
        13.5.4    Latin America
        13.5.5    Middle East and Africa
14    Manufacturing Process
    14.1     Detailed Process Flow
    14.2     Operations Involved
    14.3     Mass Balance
15    Project Details and Cost Analysis
    15.1    Land, Location and Site Development
    15.2    Construction
    15.3    Plant Layout
    15.4    Plant Machinery
    15.5    Raw Material Requirement
    15.6    Packaging
    15.7    Transportation
    15.8    Utilities
    15.9    Manpower
    15.10    Other Capital Investment
16    Loans and Financial Assistance
17    Project Economics

    17.1    Capital Cost of Project
    17.2    Techno-Economic Parameters
    17.3    Product Pricing and Margins
    17.4    Taxation and Depreciation
    17.5    Income Projections
    17.6    Expenditure Projections
    17.7    Financial Analysis
18    Competitive Landscape
    18.1    Market Structure
    18.2    Key Players' Market Share
    18.3    Company Profiles
        18.3.1    Bunge Limited
            18.3.1.1    Company Overview
            18.3.1.2    Product Portfolio
            18.3.1.3    Demographic Reach and Achievements
            18.3.1.4    Financial Summary
            18.3.1.5    Certifications
        18.3.2    ADM
            18.3.2.1    Company Overview
            18.3.2.2    Product Portfolio
            18.3.2.3    Demographic Reach and Achievements
            18.3.2.4    Financial Summary
            18.3.2.5    Certifications
        18.3.3    Cargill, Incorporated
            18.3.3.1    Company Overview
            18.3.3.2    Product Portfolio
            18.3.3.3    Demographic Reach and Achievements
            18.3.3.4    Financial Summary
            18.3.3.5    Certifications
        18.3.4    Wilmar International Ltd.
            18.3.4.1    Company Overview
            18.3.4.2    Product Portfolio
            18.3.4.3    Demographic Reach and Achievements
            18.3.4.4    Financial Summary
            18.3.4.5    Certifications
        18.3.5    Louis Dreyfus Company
            18.3.5.1    Company Overview
            18.3.5.2    Product Portfolio
            18.3.5.3    Demographic Reach and Achievements
            18.3.5.4    Financial Summary
            18.3.5.5    Certifications
        18.3.6    Others
19    Industry Events and Developments

 

List of Figures and Tables

1.    Global Vegetable Oil Market: Key Industry Highlights, 2015 and 2025
2.    Global Vegetable Oil Historical Market: Breakup by Oil Type (Million Tons), 2015-2019
3.    Global Vegetable Oil Market Forecast: Breakup by Oil Type (Million Tons), 2020-2025
4.    Global Vegetable Oil Historical Market: Breakup by Application (Million Tons), 2015-2019
5.    Global Vegetable Oil Market Forecast: Breakup by Application (Million Tons), 2020-2025
6.    Global Vegetable Oil Historical Market: Breakup by Region (Million Tons), 2015-2019
7.    Global Vegetable Oil Market Forecast: Breakup by Region (Million Tons), 2020-2025
8.    North America Vegetable Oil Historical Market: Breakup by Country (Million Tons), 2015-2019
9.    North America Vegetable Oil Market Forecast: Breakup by Country (Million Tons), 2020-2025
10.    Europe Vegetable Oil Historical Market: Breakup by Country (Million Tons), 2015-2019
11.    Europe Vegetable Oil Market Forecast: Breakup by Country (Million Tons), 2020-2025
12.    Asia Pacific Vegetable Oil Historical Market: Breakup by Country (Million Tons), 2015-2019
13.    Asia Pacific Vegetable Oil Market Forecast: Breakup by Country (Million Tons), 2020-2025
14.    Latin America Vegetable Oil Historical Market: Breakup by Country (Million Tons), 2015-2019
15.    Latin America Vegetable Oil Market Forecast: Breakup by Country (Million Tons), 2020-2025
16.    Middle East and Africa Vegetable Oil Historical Market: Breakup by Country (Million Tons), 2015-2019
17.    Middle East and Africa Vegetable Oil Market Forecast: Breakup by Country (Million Tons), 2020-2025
18.    Major Importing Countries by Volume (2019)
19.    Major Exporting Countries by Volume (2019)
20.    Major Importing Countries by Value (2019)
21.    Major Exporting Countries by Value (2019)
22.    Palm Oil Historical Price Trends and Forecast 2015-2025
23.    Soybean Oil Historical Price Trends and Forecast 2015-2025
24.    Sunflower Oil Historical Price Trends and Forecast 2015-2025
25.    Canola Oil Historical Price Trends and Forecast 2015-2025
26.    Coconut Oil Historical Price Trends and Forecast 2015-2025
27.    Global Vegetable Oil Market Structure

Key Questions Answered in the Report

In 2019, the global vegetable oil market attained a production volume of 207.7 million tons.

The market is projected to grow at a CAGR of nearly 3% in the forecast period of 2020-2025.

The global vegetable oil market is estimated to reach a attain a production volume of 248 million metric tons in 2025.

The major drivers of the industry include rising disposable incomes, increasing population, changing diets, increasing demand for its imports, and higher standards of living.

The increasing demand for biodiesel is expected to be a key trend guiding the growth of the industry.

North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market, with the Asia Pacific accounting for the largest market share.
 

Palm oil is the dominant type of the product in the industry.

The major application sectors include food industry and biofuels, among others.

The leading players in the global vegetable oil market are Bunge Limited, ADM, Cargill, Incorporated, Wilmar International Ltd., and Louis Dreyfus Company, among others.

Analyst Review

The global vegetable oil market reached a volume of 207.7 million tons in 2019 driven by the rising consumption in developing economies. Aided by the growing biofuels demand, the market is projected to grow at a CAGR of nearly 3% in the forecast period of 2020-2025 to attain a production volume of 248 million metric tons in 2025.

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its types, the global vegetable oil market can be segmented into palm, soybean, canola, sunflower, coconut, and palm kernel, among others, with palm oil accounting for the largest market share. On the basis of application, the industry can be divided into food industry and biofuels, among others. The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with Asia Pacific accounting for the largest share of the market. The key players in the above industry include Bunge Limited, ADM, Cargill, Incorporated, Wilmar International Ltd., and Louis Dreyfus Company, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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