식용유 시장 : 전망(2024-2029년)

The global edible oils market is estimated to grow at 4.49% (CAGR) from US$113.381 billion in 2024 to US$141.214 billion in 2029.

Edible oil or cooking oil is derived from plant, animal, or microbial origin which forms a primary source of vitamin E and unsaturated fats in human diets. Edible oil products fulfill varied nutritional needs of the body, owing to which they are used in home cooking and industrial food manufacturing. The booming demand for nutritional diet coupled with bolstering growth in the production & consumption of vegetable oil is majorly driving the demand for edible oil products globally, thereby augmenting the overall market growth.

Global Edible Oil Market Drivers

• The growing end-user demand is propelling the overall market growth.

Edible oils come in various varieties, including coconut, sunflower, soybean, palm, and mustard oil, all of which find high applicability in home cooking and industrial food manufacturing. The global population growth has increased the consumer's overall food consumption scale. With the improvement in living standards followed by rapid urbanization, the food demand from residential users is set to experience an upward trajectory. Such positive growth will bolster demand and usage of edible oils for cooking purposes. For instance, according to the Indian Council of Oilseed Research, India's edible oil demand will grow from 29.02 million tons in 2025 to 40.89 million tons in 2050.

Likewise, according to the Food and Agriculture Organization, by 2032, human consumption will account for 57% of vegetable oil consumption, followed by feedstock. In the emerging market economies, namely China and Brazil, the per capita consumption level will match the consumption scale of wealthier economies.

• Favorable government initiatives to bolster edible oil production are expected to drive the market expansion.

Edible oil provides a plethora of nutrients that assist in improving the heart, digestive system, and other organs in healthier shape. The growing health awareness has shifted towards healthier and properly cooked food consumption, and edible oil acting as the better alternative for saturated fat sources such as butter, tallow, and lard are forming an integral part of such diets.

The governments of countries are realizing the high applicability of edible oils and are investing in initiatives and schemes to bolster edible oil production. For instance, the government of India's "National Mission for Edible Palm Oils" aims to elevate palm oil production capabilities in the country thereby minimizing its dependence on edible oil imports. Likewise, agriculture ministries of respective nations globally emphasize bolstering their edible production capacity, which is anticipated to drive global market expansion.

Global Edible Oils Market Segment Analysis

• Palm Oil is set to witness steady growth.

The global edible oils market, based on product type, is categorized into coconut oil, sunflower oil, soybean oil, groundnut oil, mustard oil, and others. Palm oil is anticipated to grow constantly, fuelled by its high health benefits, such as lowering cholesterol and improving overall heart health. The oil formed an effective alternative for high-trans fat shortening. The demand for such edible oil products is anticipated to witness an upward trajectory fuelled by the growing consumer preferences for vegetable oils having high nutritional content.

According to the USDA's "Oilseed Market and Trade" report, by May 2024, global vegetable oil production reached 228.28 million metric tons, of which palm oil accounted for 35.05%. In contrast, the remaining 65% comprised other types such as coconut, olive, rapeseed, sunflower, soybean, and cottonseed. Moreover, the same report also specified that in the same period, palm constituted 35.12% of the global vegetable oil consumption.

Asia Pacific is expected to grow at a constant rate.

Based on geography, the global edible oils market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The Asia Pacific region is posed for constant growth, accounting for a considerable market share fuelled by the booming vegetable oil consumption in major economies, namely China, Indonesia, and India. According to the USDA, by May 2024, the domestic vegetable consumption in China stood at 41.28 million metric tons, followed by Indonesia with a consumption scale of 25.86, and India with 25.41 million metric tons. Together, the three nations accounted for 41.15% of the global domestic vegetable oil consumption.

Moreover, North America is anticipated to show steady growth fuelled by the favorable efforts by major market players such as Cargill to bolster their edible oil supply both domestically and overseas. Additionally, major economies, namely the United States, are experiencing positive growth in vegetable consumption, thereby further augmenting the regional market expansion.

Global Edible Oils Key Market Developments

• In March 2024, the Indian government, under its "Mission Palm Oil", inaugurated its first mill in the Northeast region. The government aims to establish mills in major states, namely Assam, Mizoram, Manipur, Tripura, Nagaland, and Arunachal Pradesh.
• In February 2023, Cargill launched its edible oil product "Gemini Pureit(TM)" in Karnataka as part of its effort to expand its edible oil portfolio in South India. The company further stated that the product would be available in other southern states, namely Andra Pradesh, Telangana, and Tamil Nadu.
• In July 2022, Eni completed the construction of its oilseed collection and processing plant in Makueni, Kenya. The plant would produce vegetable oils for biorefineries and had an installed capacity of 15,000 tons. The establishment defines Kenya's commitment to bringing Africa into a vertical bio-refinery supply chain.
• In June 2022, Gemini Edibles & Fats India Ltd, the market leader in refined sunflower oil, plans to invest up to Rs 500 crore to extend its footprint in the country's edible oil sector.

The Global Edible Oils Market is segmented and analyzed as:

By Product Type

• Coconut Oil
• Sunflower Oil
• Soybean Oil
• Groundnut Oil
• Mustard Oil
• Others

By End-User

• Household
• Commercial
• Industrial

By Distribution Channel

• Online
• Offline

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Colombia
• Peru
• Others
• Europe
• Austria
• Belgium
• Bulgaria
• Czech Republic
• Denmark
• Finland
• France
• Germany
• Hungary
• Ireland
• Italy
• Netherlands
• Poland
• Portugal
• Romania
• Slovakia
• Slovenia
• Spain
• Sweden
• United Kingdom
• Middle East and Africa
• Saudi Arabia
• Israel
• UAE
• Turkey
• Morocco
• Ethiopia
• Algeria
• Egypt
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Philippines
• Indonesia
• Vietnam
• Malaysia
• Thailand
• Singapore

TABLE OF CONTENTS

1. INTRODUCTION

• 1.1. Market Overview
• 1.2. Market Definition
• 1.3. Scope of the Study
• 1.4. Market Segmentation
• 1.5. Currency
• 1.6. Assumptions
• 1.7. Base and Forecast Years Timeline
• 1.8. Key Benefits for the Stakeholder

2. RESEARCH METHODOLOGY

• 2.1. Research Design
• 2.2. Research Processes

3. EXECUTIVE SUMMARY

• 3.1. Key Findings

4. MARKET DYNAMICS

• 4.1. Market Drivers
• 4.2. Market Restraints
• 4.3. Porter's Five Forces Analysis
  • 4.3.1. Bargaining Power of Suppliers
  • 4.3.2. Bargaining Power of Buyers
  • 4.3.3. Threat of New Entrants
  • 4.3.4. Threat of Substitutes
  • 4.3.5. Competitive Rivalry in the Industry
• 4.4. Industry Value Chain Analysis
• 4.5. Analyst View

5. GLOBAL EDIBLE OILS MARKET BY PRODUCT TYPE

• 5.1. Introduction
• 5.2. Coconut Oil
• 5.3. Sunflower Oil
• 5.4. Soybean Oil
• 5.5. Ground Nut Oil
• 5.6. Mustard Oil
• 5.7. Others

6. GLOBAL EDIBLE OILS MARKET BY END-USER

• 6.1. Introduction
• 6.2. Residential
• 6.3. Commercial
• 6.4. Industrial

7. GLOBAL EDIBLE OILS MARKET BY DISTRIBUTION CHANNEL

• 7.1. Introduction
• 7.2. Online
• 7.3. Offline

8. GLOBAL EDIBLE OILS MARKET BY GEOGRAPHY

• 8.1. Introduction
• 8.2. North America
  • 8.2.1. By Product Type
  • 8.2.2. By End User
  • 8.2.3. By Distribution Channel
  • 8.2.4. By Country
    • 8.2.4.1. United States
    • 8.2.4.2. Canada
    • 8.2.4.3. Mexico
• 8.3. South America
  • 8.3.1. By Product Type
  • 8.3.2. By End User
  • 8.3.3. By Distribution Channel
  • 8.3.4. By Country
    • 8.3.4.1. Brazil
    • 8.3.4.2. Argentina
    • 8.3.4.3. Colombia
    • 8.3.4.4. Peru
    • 8.3.4.5. Others
• 8.4. Europe
  • 8.4.1. By Product Type
  • 8.4.2. By End User
  • 8.4.3. By Distribution Channel
  • 8.4.4. By Country
    • 8.4.4.1. Austria
    • 8.4.4.2. Belgium
    • 8.4.4.3. Bulgaria
    • 8.4.4.4. Czech Republic
    • 8.4.4.5. Denmark
    • 8.4.4.6. Finland
    • 8.4.4.7. France
    • 8.4.4.8. Germany
    • 8.4.4.9. Hungry
    • 8.4.4.10. Ireland
    • 8.4.4.11. Italy
    • 8.4.4.12. Netherland
    • 8.4.4.13. Poland
    • 8.4.4.14. Portugal
    • 8.4.4.15. Romania
    • 8.4.4.16. Slovakia
    • 8.4.4.17. Slovenia
    • 8.4.4.18. Spain
    • 8.4.4.19. Sweden
    • 8.4.4.20. United Kingdom
• 8.5. Middle East and Africa
  • 8.5.1. By Product Type
  • 8.5.2. By End User
  • 8.5.3. By Distribution Channel
  • 8.5.4. By Country
    • 8.5.4.1. Saudi Arabia
    • 8.5.4.2. Israel
    • 8.5.4.3. UAE
    • 8.5.4.4. Turkey
    • 8.5.4.5. Morocco
    • 8.5.4.6. Ethiopia
    • 8.5.4.7. Algeria
    • 8.5.4.8. Egypt
    • 8.5.4.9. Others
• 8.6. Asia Pacific
  • 8.6.1. By Product Type
  • 8.6.2. By End User
  • 8.6.3. By Distribution Channel
  • 8.6.4. By Country
    • 8.6.4.1. China
    • 8.6.4.2. Japan
    • 8.6.4.3. India
    • 8.6.4.4. South Korea
    • 8.6.4.5. Australia
    • 8.6.4.6. Philippines
    • 8.6.4.7. Indonesia
    • 8.6.4.8. Vietnam
    • 8.6.4.9. Malaysia
    • 8.6.4.10. Thailand
    • 8.6.4.11. Singapore

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

• 9.1. Major Players and Strategy Analysis
• 9.2. Market Share Analysis
• 9.3. Mergers, Acquisitions, Agreements, and Collaborations
• 9.4. Competitive Dashboard

10. COMPANY PROFILES

• 10.1. Archer-Daniels-Midland Company
• 10.2. Adani Group
• 10.3. Cargill, Incorporated
• 10.4. Paras Group
• 10.5. Bunge
• 10.6. Sime Darby Plantation Berhad.
• 10.7. Louis Dreyfus Company Brasil S.A.
• 10.8. Wilmar Oils & Fats
• 10.9. Olenex Sarl
• 10.10. Adams Group