According to a research report "Edible Oils Market by Type (Palm Oil, Soybean Oil, Sunflower Oil, Rapeseed Oil, Olive Oil), Packaging Type (Pouches, Jars, Cans, and Bottles), End Use (Domestic, Food Service and Industrial) and Region - Global Forecast to 2027" published by MarketsandMarkets, the edible oils market is projected to reach USD 268.9 billion by 2027 from USD 212.6 billion by 2022, recording a CAGR of 4.8% from 2022 to 2027. With the increasing population across the world coupled with lifestyle changes, there is a growing consumption of processed foods. Edible oils are one of the main ingredients used in processed foods. Moreover, with the ongoing research and development of novel products, such as confectionery and bakery items, ready-to-eat foods, and fast foods the role of edible oils in increasing the taste has become more significant. The constantly evolving food processing sector is further creating a huge demand for edible oils during the study period.
Browse 507 market data Tables and 76 Figures spread through 397 Pages and in-depth TOC on "Edible Oils Market by Type (Palm Oil, Soybean Oil, Sunflower Oil, Rapeseed Oil, Olive Oil), Packaging Type (Pouches, Jars, Cans, and Bottles), End Use (Domestic, Food Service and Industrial) and Region - Global Forecast to 2027"
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The soybean oils segment is the fastest growing among the oil type of global edible oils during the forecast period
Europe is projected to hold the second-largest share in the global edible oils market in 2027
In Europe, rapeseed is a crucial oilseed crop. The continent is a world leader in rapeseed oil production. A study titled, ‘The Rapeseed Potential in Poland and Germany in the Context of Production, Legislation, and Intellectual Property Rights’, published in 2019, highlighted the potential for further rapeseed market development in the European Union (EU) with a focus on Poland (12% of EU production) and Germany (19% of EU production). Increased rapeseed production and cultivation areas are key factors for the expansion. Rapeseed oil is expected to continue to gain market share in Europe owing to investments in research and development (R&D) of the crop, as indicated by the figures for European patent publications and Community Plant Variety Rights.
The key players in edible oils market include Cargill, Incorporated (US); Archer Daniels Midland Company (ADM); Bunge Limited (US); Louis Dreyfus Company (Netherlands); Wilmar International Limited (Singapore); and Adani Wilmar Limited (AWL) (India); Associated British Foods PLC (ABF) (UK); Sime Darby Plantation Berhad (Malaysia); and Borges International Group, S.L.U. (Spain).
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