Vegetable Oil Market SWOT Analysis by 2031
The Vegetable Oil Market is expected to register a CAGR of 6% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by type (palm oil, soybean oil, sunflower oil, olive oil, coconut oil, others), category (organic, conventional). The report further presents analysis based on distribution channel (supermarkets and hypermarkets, convenience stores, online retail, and others). The global analysis is further broken-down at regional level and major countries. In terms of geography, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The Report Offers the Value in USD for the above analysis and segments.
Purpose of the Report
The report Vegetable Oil Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Vegetable Oil Market Segmentation
Type
- Palm Oil
- Soybean Oil
- Sunflower Oil
- Olive Oil
- Coconut Oil
- Others
Category
- Organic
- Conventional
Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retail
- Others
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Vegetable Oil Market: Strategic Insights
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Vegetable Oil Market Growth Drivers
- Booming Health Awareness: It makes consumers health-consciousness more and the increasing demand for types of vegetable oils like healthy fatty acids such as olive and canola oil. These oils are believed to support a heart-healthy diet when replacing animal fats, thus bringing in the market development of vegetable oils.
- Increase in Processed Food Industry: The processed and packaged food industry has expanded the demand for vegetable oils. These oils will have an application in cooking, frying, and more as snack, ready-to-eat meal, and baked good ingredients, resulting in increased growth in the sector.
- Production of Biodiesel: The increasing trend of the utilization of vegetable oils for biodiesel production has made a significant contribution to the market expansion. The move towards renewable energy sources and cleaner fuels initiated by governments has triggered the use of vegetable oils for biofuel manufacturing, thus extending their application beyond food use, for example, biodiesel using soybean and palm oils.
Vegetable Oil Market Future Trends
- Move Toward Healthier Oils: There is a greater trend toward the adoption of fats like avocado, olive, and flaxseed oil. Consumers today prefer oils with low amounts of saturated fats and high amounts of omega-3 fatty acids consuming them out of health concern and awareness of cardiovascular health.
- Sustainable and Ethical Sourcing: As consumers lean toward increasingly sustainably and ethically sourced products, the vegetable oil industry is moving to sustainable palm oil production and its certification-a-la-RSPO-now including practices environmentally-friendly for consumers. This trend results in a less deforested area and an improved environmental condition for oil planting.
- Plant-Based and Vegan Preferences: Increasing prefrence for plant-based food driving the vegetable oils business, also include plant-based and vegan categories. Examples are coconut, canola, and soybean oils, which have been mostly selected by vegans and vegetarians for cooking, baking, or preparing foods.
Vegetable Oil Market Opportunities
- Demand for Plant Based Pro-Products: Much popular as and matched demand grows of the industry particular opportunity shares with vegetable oils like avocados, sunflowers and canolas, to become prime players in the produce line of vegan and plant-based food products.
- Emerging Growth in Functional Oils: This reveals an opportunity in the vegetable oil market since functional oils with added health benefits are demanded. Oils enriched with omega-3 fatty acids, antioxidants, and vitamins have gained popularity from their perceived health benefits-such as reducing inflammation, and improving heart health.
- Increased Use in Biofuels: With the increasing focus on renewable energy sources, vegetable oils get their share in biofuels production. Hence, oil producers can look towards expanding their markets, supplying oils like soybean and palm for biofuels and achieving sustainability goals in the energy sector.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Vegetable Oil Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Vegetable Oil Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Based on geography, Asia Pacific held the largest share of the vegetable oil market.
Cargill, Incorporated, Wilmar International Limited, B and G Foods, Inc., Richardson Food and Ingredients, ACH Food Companies, Inc, Golden Agri-Resources Ltd, Sime Darby Plantation Berhad, La Tourangelle, Conagra Brands, Inc, IFFCO Group are among the leading players operating in the vegetable oil market.
The rising sustainability concern among consumers is likely to remain the key trends in the market.
The Vegetable Oil Market is estimated to witness a CAGR of 6% from 2023 to 2031
The rising awareness about benefits of vegetable oil over animal fat and strategic development initiatives by key market players is driving the vegetable oil market growth.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Vegetable Oil Market - By Type
1.3.2 Vegetable Oil Market - By Application
1.3.3 Vegetable Oil Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VEGETABLE OIL MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. VEGETABLE OIL MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. VEGETABLE OIL MARKET - GLOBAL MARKET ANALYSIS
6.1. VEGETABLE OIL - GLOBAL MARKET OVERVIEW
6.2. VEGETABLE OIL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. VEGETABLE OIL MARKET - REVENUE AND FORECASTS TO 2028 – TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. SUNFLOWER OIL
7.3.1. Overview
7.3.2. Sunflower Oil Market Forecast and Analysis
7.4. RAPESEED (CANOLA) OIL,
7.4.1. Overview
7.4.2. Rapeseed (Canola) Oil, Market Forecast and Analysis
7.5. SOYBEAN OIL
7.5.1. Overview
7.5.2. Soybean Oil Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. VEGETABLE OIL MARKET - REVENUE AND FORECASTS TO 2028 – APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. FOOD
8.3.1. Overview
8.3.2. Food Market Forecast and Analysis
8.4. FEED
8.4.1. Overview
8.4.2. Feed Market Forecast and Analysis
8.5. INDUSTRIAL
8.5.1. Overview
8.5.2. Industrial Market Forecast and Analysis
9. VEGETABLE OIL MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Vegetable Oil Market Overview
9.1.2 North America Vegetable Oil Market Forecasts and Analysis
9.1.3 North America Vegetable Oil Market Forecasts and Analysis - By Type
9.1.4 North America Vegetable Oil Market Forecasts and Analysis - By Application
9.1.5 North America Vegetable Oil Market Forecasts and Analysis - By Countries
9.1.5.1 United States Vegetable Oil Market
9.1.5.1.1 United States Vegetable Oil Market by Type
9.1.5.1.2 United States Vegetable Oil Market by Application
9.1.5.2 Canada Vegetable Oil Market
9.1.5.2.1 Canada Vegetable Oil Market by Type
9.1.5.2.2 Canada Vegetable Oil Market by Application
9.1.5.3 Mexico Vegetable Oil Market
9.1.5.3.1 Mexico Vegetable Oil Market by Type
9.1.5.3.2 Mexico Vegetable Oil Market by Application
9.2. EUROPE
9.2.1 Europe Vegetable Oil Market Overview
9.2.2 Europe Vegetable Oil Market Forecasts and Analysis
9.2.3 Europe Vegetable Oil Market Forecasts and Analysis - By Type
9.2.4 Europe Vegetable Oil Market Forecasts and Analysis - By Application
9.2.5 Europe Vegetable Oil Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Vegetable Oil Market
9.2.5.1.1 Germany Vegetable Oil Market by Type
9.2.5.1.2 Germany Vegetable Oil Market by Application
9.2.5.2 France Vegetable Oil Market
9.2.5.2.1 France Vegetable Oil Market by Type
9.2.5.2.2 France Vegetable Oil Market by Application
9.2.5.3 Italy Vegetable Oil Market
9.2.5.3.1 Italy Vegetable Oil Market by Type
9.2.5.3.2 Italy Vegetable Oil Market by Application
9.2.5.4 United Kingdom Vegetable Oil Market
9.2.5.4.1 United Kingdom Vegetable Oil Market by Type
9.2.5.4.2 United Kingdom Vegetable Oil Market by Application
9.2.5.5 Russia Vegetable Oil Market
9.2.5.5.1 Russia Vegetable Oil Market by Type
9.2.5.5.2 Russia Vegetable Oil Market by Application
9.2.5.6 Rest of Europe Vegetable Oil Market
9.2.5.6.1 Rest of Europe Vegetable Oil Market by Type
9.2.5.6.2 Rest of Europe Vegetable Oil Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Vegetable Oil Market Overview
9.3.2 Asia-Pacific Vegetable Oil Market Forecasts and Analysis
9.3.3 Asia-Pacific Vegetable Oil Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Vegetable Oil Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Vegetable Oil Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Vegetable Oil Market
9.3.5.1.1 Australia Vegetable Oil Market by Type
9.3.5.1.2 Australia Vegetable Oil Market by Application
9.3.5.2 China Vegetable Oil Market
9.3.5.2.1 China Vegetable Oil Market by Type
9.3.5.2.2 China Vegetable Oil Market by Application
9.3.5.3 India Vegetable Oil Market
9.3.5.3.1 India Vegetable Oil Market by Type
9.3.5.3.2 India Vegetable Oil Market by Application
9.3.5.4 Japan Vegetable Oil Market
9.3.5.4.1 Japan Vegetable Oil Market by Type
9.3.5.4.2 Japan Vegetable Oil Market by Application
9.3.5.5 South Korea Vegetable Oil Market
9.3.5.5.1 South Korea Vegetable Oil Market by Type
9.3.5.5.2 South Korea Vegetable Oil Market by Application
9.3.5.6 Rest of Asia-Pacific Vegetable Oil Market
9.3.5.6.1 Rest of Asia-Pacific Vegetable Oil Market by Type
9.3.5.6.2 Rest of Asia-Pacific Vegetable Oil Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Vegetable Oil Market Overview
9.4.2 Middle East and Africa Vegetable Oil Market Forecasts and Analysis
9.4.3 Middle East and Africa Vegetable Oil Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Vegetable Oil Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Vegetable Oil Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Vegetable Oil Market
9.4.5.1.1 South Africa Vegetable Oil Market by Type
9.4.5.1.2 South Africa Vegetable Oil Market by Application
9.4.5.2 Saudi Arabia Vegetable Oil Market
9.4.5.2.1 Saudi Arabia Vegetable Oil Market by Type
9.4.5.2.2 Saudi Arabia Vegetable Oil Market by Application
9.4.5.3 U.A.E Vegetable Oil Market
9.4.5.3.1 U.A.E Vegetable Oil Market by Type
9.4.5.3.2 U.A.E Vegetable Oil Market by Application
9.4.5.4 Rest of Middle East and Africa Vegetable Oil Market
9.4.5.4.1 Rest of Middle East and Africa Vegetable Oil Market by Type
9.4.5.4.2 Rest of Middle East and Africa Vegetable Oil Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Vegetable Oil Market Overview
9.5.2 South and Central America Vegetable Oil Market Forecasts and Analysis
9.5.3 South and Central America Vegetable Oil Market Forecasts and Analysis - By Type
9.5.4 South and Central America Vegetable Oil Market Forecasts and Analysis - By Application
9.5.5 South and Central America Vegetable Oil Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Vegetable Oil Market
9.5.5.1.1 Brazil Vegetable Oil Market by Type
9.5.5.1.2 Brazil Vegetable Oil Market by Application
9.5.5.2 Argentina Vegetable Oil Market
9.5.5.2.1 Argentina Vegetable Oil Market by Type
9.5.5.2.2 Argentina Vegetable Oil Market by Application
9.5.5.3 Rest of South and Central America Vegetable Oil Market
9.5.5.3.1 Rest of South and Central America Vegetable Oil Market by Type
9.5.5.3.2 Rest of South and Central America Vegetable Oil Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. VEGETABLE OIL MARKET, KEY COMPANY PROFILES
11.1. ACH FOODS COMPANY INC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ARCHER DANIELS MIDLAND COMPANY
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BUNGE
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CARGILL, INCORPORATED
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. CHS INC.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. CONAGRA FOODS, INC.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. J-OIL MILLS INC.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. OLAM INTERNATIONAL
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. RICHARDSON OILSEED LTD.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. RISOIL S.A.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. ACH Foods Company Inc
2. Archer Daniels Midland Company
3. Bunge
4. Cargill, Incorporated
5. CHS Inc.
6. ConAgra Foods, Inc.
7. J-Oil Mills Inc.
8. Olam International
9. Richardson Oilseed Ltd.
10. RISOIL S.A.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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