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. Edible oils are the principal source of unsaturated fats and vitamin E in human diets and are widely employed in industrial food manufacturing and home cooking around the world. Cardiovascular disease is one of the leading causes of death, worldwide. Evidence from scientific research suggests that edible oils may have positive impacts on cardiovascular health. While olive oil and sunflower seed oil are known to lower blood cholesterol, red palm oil has recently been found to help the heart recover from ischaemia-reperfusion injury. It is evident that incorporating edible oils into daily diet might significantly lower the mortality risk from heart disease. Thus, consumers, food services and industries are widely preferring edible oils over animal-derived fats and oils for cooking.
The key players in the edible oils market include Archer Daniels Midland Company (ADM) (US), Cargill, Incorporated (US), Bunge Limited (US), and Louis Dreyfus Company (Netherlands). The key strategies adopted by the leading market players include expansions, acquisitions, and joint ventures to maintain their leading positions in the international edible oils market. For instance, in November 2022, Cargill Incorporated (US) and Owensboro Grain Company, a fifth-generation family-owned soybean processing facility and refinery, signed a formal agreement in which the former incorporated Owensboro Grain Company (OGC) to its North American agricultural supply chain business, to scale its soybean oil business. In September 2022, Louis Dreyfus Company Asia Pte. Ltd. (LDC) and Longriver Farms entered into an agreement for the acquisition of Emerald Grain Pty. Ltd. (Emerald Grain) by LDC which helped LDC to further expand its footprints in the Australian market.
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Cargill Incorporated is a US-based leading player in the edible oils market, offering a comprehensive range of edible oils which spans from basic monoseed oils like refined sunflower oil to olive oil of various origins for customers in retail, catering and food service through its food and beverage segment. Cargill caters to the specific needs of customers residing in North America as well as in Europe, the Middle East and Africa by offering separate edible oils solutions, customized according to regional demands.
Louis Dreyfus Company (LDC) is a leading market player in grains and oilseeds, with a strong international presence in the world’s major producing and consuming regions, since 1851. The company is engaged in originating, transforming, and merchandizing an extensive range of grains and oilseeds products, involved in approximately 11% of global oilseeds flow.
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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