Cooking Oil Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

The cooking oil market is expected to register a CAGR of 5% during 2023–2031. The increasing fortification of cooking oil with minerals, vitamins, and other nutrients is likely to be the trend in the cooking oil market.

Cooking Oil Market Analysis:

• The global cooking oil market has demonstrated stable growth owing to the growing population and changed dietary habits.
• Major players in the cooking oil market include Cargill Incorporation, Wilmar International, Archer Daniels Midland, and Fuji Oil Company, among others.
• Increasing health-conscious consumers' shift towards healthier options like olive and avocado oils has contributed to the market growth. In addition, increasing disposable income in emerging economies such as Asia Pacific, and Middle East & Africa has surged the demand for cooking oil.

Cooking Oil Market Overview

• Cooking oil is artificial fat used in frying potato chips and snacks, making pastries sweets, cooking, as well as food seasoning or crisping. These oils are combinations of the various fractions of fatty acid mixtures.
• Cooking oils are made from various sources, including sunflower, soybeans, palm, canola, olive, and others. Rising awareness about health benefits associated with various sources of oil has propelled the market growth.  

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Cooking Oil Market: Strategic Insights

Cooking Oil Market

• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Market Dynamics

GROWTH DRIVERS

• Growing Demand for Healthier Option Like Olive and Avocado Oil
• Stragtegic Initiatives by Key Players

FUTURE TRENDS

• Increasing Focus on Fortified Cooking Oil

OPPORTUNITIES

• Increasing Demand for Organic Cooking Oil

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Type

• Soybean Oil
• Sunflower Oil
• Olive Oil
• Groundnut Oil
• Canola Oil

Category

• Organic
• Conventional

Distribution Channel

• Supermarket and Hypermarket
• Convenience Stores
• Online Retail

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Cooking Oil Market Drivers and Opportunities

Growing Demand for Healthier Options Like Olive and Avocado Oils

• The demand for healthier cooking oil, for example, olive oil and avocado oil, has been rising. Olive oil is highly recommended for health and is a common cooking ingredient in Mediterranean cuisine. Consumers know olive oil is rich in monounsaturated fats, which are heart-healthy and contain antioxidants and anti-inflammatory properties.
• Avocado oil is another great high-monounsaturated choice. It has a higher smoke point than olive oil and is better for use in high-heat cooking methods such as stir-frying and roasting.
• Each has its distinct characteristics and potential health benefits; olive oil is a versatile oil because of its distinct nuance of flavor, whereas avocado oil is comparatively more neutral and has a higher smoke point than olive oil.

Increasing Demand for Organic Cooking Oil

• The demand for organically-grown cooking oil has grown as people are realizing that natural ingredients and safe production technologies can also be valued in cooking oil products. Unlike cooking oil made with chemical-based fertilizers and pesticides, the production of organic foods does not require synthetic pesticides, chemical fertilizers, or genetically modified organisms (GMOs). This process makes people feel more comfortable using cooking oil products.
• Many organic cooking oils are made from the seeds of crops grown without pesticides or fertilizers, ensuring they are free of harmful chemicals and additives – and, not surprisingly, these oils are often less processed.
• Aside from offering health and environmental advantages, organic cooking oils have another advantage, namely their taste and quality, as they can add flavor to dishes.

Cooking Oil Market Segmentation

The scope of the global cooking oil market is segmented based on type, category, and distribution channel.

• based on type, the market is segmented into soybean oil, sunflower oil, olive oil, groundnut oil, canola oil, and others.
• based on category, the market is bifurcated into organic and conventional.
• Based on the distribution channel, the cooking oil market is classified into supermarkets and hypermarkets, convenience stores, online retail, and others.

Cooking Oil Market Share Analysis by Geography

• The cooking oil market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering cooking oil market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers Porter's Five Forces analysis, which involves the study of major factors that influence the cooking oil market in these regions.

Cooking Oil Market Market Report Scope

Cooking Oil Market News and Recent Developments:

The cooking oil market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:

• Ghanim International Corporation launched Brunei's first consumer vegetable cooking oil under its bruneihalalfoods brand earlier today which will be available in shops nationwide. The palm-based oil is produced by Western Foods and Packaging (WFP) in Serasa, continuing Ghanim's strategy of collaborating with different Brunei-based businesses to collectively develop and market products under their Bruneihalalfoods brand. (Source: Newsletter, BRUNEI, July 2023)
• Reinforcing its commitment to expand the edible oils portfolio to South India, Cargill has announced the launch of Gemini Pureit™ in Karnataka today. Starting this month, the Gemini Pureit brand will be available to consumers across stores in four Southern states of Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu. This year marks the 40th anniversary of the Gemini brand and recently Gemini Sunflower oil was ranked the No.1 in Quality in India, by Consumer Voice amongst 12 other sunflower oil brands in the country. (Source: Newsletter, Cargill incorporated, February 2023)

Cooking Oil Market Report Coverage and Deliverables

The "Cooking Oil Market Size and Forecast (2021 – 2031)" provides a detailed analysis of the market covering below areas:

• Cooking oil market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Cooking oil market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter's Five Forces and SWOT analysis
• Cooking oil market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the cooking oil market
• Detailed company profiles