Edible Oils and Fats Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Type and Application

List of Tables

The edible oils and fats market is expected to grow from US$ 52.92 billion in 2022 to US$ 78.68 billion by 2030; it is expected to record a CAGR of 5.1% from 2023 to 2030.

Consumers consider plant-based products healthier than conventional products. Rising health consciousness among consumers propels the demand for plant-based and low-fat products. Thus, manufacturers develop plant-based shortenings and low-fat oils to cater to the rising demand. Plant-based shortenings are non-hydrogenated and do not contain cholesterol and trans-fat. Thus, it is considered a healthier alternative to conventional shortenings. Moreover, the increasing prevalence of cardiovascular diseases, obesity, and diabetes over the years is expected to boost the demand for low-fat products such as low-fat oils among various industries, including bakery & confectioneries, dairy & frozen desserts, and snacking.

Rising awareness regarding animal protection and environmental sustainability creates the popularity of plant-based products. As per the data published by "Veganuary" (a nonprofit organization encouraging people to go vegan for the whole month of January) in 2021, ~5.8 million people registered for the "Veganuary Campaign." Thus, owing to the rising inclination toward veganism, growing demand for plant-based shortening and low-fat oils among various end-use industries is expected to create lucrative opportunities in the edible oils and fats market during the forecast period.

Based on type, the edible oils and fats market is segmented into oils and fats. The oils segment is projected to register the largest share during the forecast period. Vegetable oils can be derived from seeds, cereal grains, nuts, and fruits. The most consumed oils are olive, sunflower, palm, canola, coconut, safflower, corn, peanut, cottonseed, palm kernel, and soybean. Generally, vegetable oils are used in food preparation, and crude oil is added for flavor. Vegetable oil is also used in the production of animal feed. Sunflower oil is a nonvolatile oil extracted from sunflower seeds. The oil is majorly used in formulations as an emollient in pharmaceutical applications. It contains a large amount of vitamin E. Sunflower oil is used to cook snack foods such as potato chips or French fries. This oil is also used in manufacturing mayonnaise and oil-based dressings. Dietary supplements made from sunflower oil have been marketed to treat eczema. According to the Food and Agriculture Organization (FAO), sunflower seed oil production is expected to reach 60 million tons by 2050 owing to its rising per capita consumption.

By geography, the edible oils and fats market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2022, Asia Pacific held the largest market share during the forecast period. However, South & Central America is a fastest growing region. The edible oils and fats market in South & Central America is segmented into Brazil, Argentina, and the Rest of South & Central America. The snack food sector in the South & central America is booming, owing to the rising consumer preference for different snacking options such as frozen snacks, savory snacks, fruit snacks, confectionery snacks, and bakery snacks. Edible oils and fats play an integral role, as they provide distinctive flavors to food and provide unique and desirable functions in manufacturing snacks. For example, oils are the frying media for deep-fried food, and in pastries, vegetable oil-based shortenings are added to prevent the flour and other ingredients from clumping. Hence, the rising demand for different snacks, and the benefits associated with the edible oils and fats further surging the demand for edible oils and fats in the snacking sector in the region.

Furthermore, the demand for edible oils and fats in the end-use industry such as animal nutrition has seen rise in the region. According to the Oil World, in 2022, China purchased around 70% of the Brazilian soybean oil, mainly for animal protein consumption. Moreover, expanding animal nutrition, pharmaceuticals, and nutraceuticals industries drive the demand for specialized edible oils and fats. These industries require specific types of oils for various applications, such as in animal feed formulations and pharmaceutical formulations. As these sectors grow and diversify, the demand for their unique requirements increases, fueling the edible oils and fats market growth in South & Central America.

The leading players in the edible oils and fats market are Bunge Ltd, Archer-Daniels-Midland Co., Fuji Oil Co Ltd, Kao Corp, AAK AB, J-Oil Mills Inc, Cargill Inc, Olam Group Ltd, ConnOils LLC, and Louis Dreyfus Co BV. These players are developing various products to address consumers' growing demand.

The size of the edible oils and fats market has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants-including valuation experts, research analysts, and key opinion leaders-specializing in the ready-to-eat meals market.

Reasons to Buy:

Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global edible oils and fats market, thereby allowing players to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

Product Code: TIPRE00030249

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Limitations and Assumptions

4. Global Edible Oils and Fats Market Landscape

4.1 Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.1 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 List of Vendors

5. Global Edible Oils and Fats Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Rising Demand for Edible Oils and Fats from Food & Beverage Processing Industry
- 5.1.2 Strategic Development Initiatives by Manufacturers
5.2 Market Restraints
- 5.2.1 Increasing Prices of Edible Oils
5.3 Market Opportunity
- 5.3.1 Growing Demand for Plant-based Shortenings and Low-fat Oils
5.4 Future Trend
- 5.4.1 Adoption of Microencapsulation Technology
5.5 Impact Analysis

6. Edible Oils and Fats Market - Global Market Analysis

6.1 Global Edible Oils and Fats Market Revenue (US$ Million)
6.2 Global Edible Oils and Fats Market Forecast and Analysis

7. Global Edible Oils and Fats Market Analysis - Type

7.1 Oils
- 7.1.1 Overview
- 7.1.2 Oils Market Revenue and Forecast to 2030 (US$ Million)
- 7.1.3 Soybean Oil
  - 7.1.3.1 Overview
  - 7.1.3.2 Soybean Oil Market Revenue and Forecast to 2030 (US$ Million)
- 7.1.4 Sunflower Oil
  - 7.1.4.1 Overview
  - 7.1.4.2 Sunflower Oil Market Revenue and Forecast to 2030 (US$ Million)
- 7.1.5 Palm Oil
  - 7.1.5.1 Overview
  - 7.1.5.2 Palm Oil Market Revenue and Forecast to 2030 (US$ Million)
- 7.1.6 Canola Oil/Rapeseed Oil
  - 7.1.6.1 Overview
  - 7.1.6.2 Canola Oil/Rapeseed Oil Market Revenue and Forecast to 2030 (US$ Million)
- 7.1.7 Others
  - 7.1.7.1 Overview
  - 7.1.7.2 Others Market Revenue and Forecast to 2030 (US$ Million)
7.2 Fats
- 7.2.1 Overview
- 7.2.2 Fats Market Revenue and Forecast to 2030 (US$ Million)
- 7.2.3 Butter
  - 7.2.3.1 Overview
  - 7.2.3.2 Butter Market Revenue and Forecast to 2030 (US$ Million)
- 7.2.4 Margarine
  - 7.2.4.1 Overview
  - 7.2.4.2 Margarine Market Revenue and Forecast to 2030 (US$ Million)
- 7.2.5 Palm Oil Based Shortening
  - 7.2.5.1 Overview
  - 7.2.5.2 Palm Oil Based Shortening Market Revenue and Forecast to 2030 (US$ Million)
- 7.2.6 Vegetable Oil Based Shortening
  - 7.2.6.1 Overview
  - 7.2.6.2 Vegetable Oil Based Shortening Market Revenue and Forecast to 2030 (US$ Million)
- 7.2.7 Others
  - 7.2.7.1 Overview
  - 7.2.7.2 Others Market Revenue and Forecast to 2030 (US$ Million)

8. Global Edible Oils and Fats Market Analysis - Application

8.1 Food and Beverages
- 8.1.1 Overview
- 8.1.2 Food and Beverages Market Revenue and Forecast to 2030 (US$ Million)
- 8.1.3 Bakery and Confectionery
  - 8.1.3.1 Overview
  - 8.1.3.2 Bakery and Confectionery Market Revenue, and Forecast to 2030 (US$ Million)
- 8.1.4 Dairy and Frozen Desserts
  - 8.1.4.1 Overview
  - 8.1.4.2 Dairy and Frozen Desserts Market Revenue, and Forecast to 2030 (US$ Million)
- 8.1.5 RTE and RTC Meals
  - 8.1.5.1 Overview
  - 8.1.5.2 RTE and RTC Meals Market Revenue, and Forecast to 2030 (US$ Million)
- 8.1.6 Snacks
  - 8.1.6.1 Overview
  - 8.1.6.2 Snacks Market Revenue, and Forecast to 2030 (US$ Million)
- 8.1.7 Others
  - 8.1.7.1 Overview
  - 8.1.7.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Animal Nutrition
- 8.2.1 Overview
- 8.2.2 Animal Nutrition Market Revenue and Forecast to 2030 (US$ Million)
8.3 Pharmaceuticals and Nutraceuticals
- 8.3.1 Overview
- 8.3.2 Pharmaceuticals and Nutraceuticals Market Revenue and Forecast to 2030 (US$ Million)

9. Edible Oils and Fats Market - Geographical Analysis

9.1 North America
- 9.1.1 North America Edible Oils and Fats Market Overview
- 9.1.2 North America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
- 9.1.3 North America Edible Oils and Fats Market Breakdown by Type
  - 9.1.3.1 North America Edible Oils and Fats Market Revenue, Forecasts and Analysis - By Type
- 9.1.4 North America Edible Oils and Fats Market Breakdown by Application
  - 9.1.4.1 North America Edible Oils and Fats Market Revenue, Forecasts and Analysis - By Application
- 9.1.5 North America Edible Oils and Fats Market Revenue, Forecasts and Analysis - By Countries
  - 9.1.5.1 North America Edible Oils and Fats Market Breakdown by Country
  - 9.1.5.2 US Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.1.5.2.1 US Edible Oils and Fats Market Breakdown by Type
    - 9.1.5.2.2 US Edible Oils and Fats Market Breakdown by Application
  - 9.1.5.3 Canada Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.1.5.3.1 Canada Edible Oils and Fats Market Breakdown by Type
    - 9.1.5.3.2 Canada Edible Oils and Fats Market Breakdown by Application
  - 9.1.5.4 Mexico Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.1.5.4.1 Mexico Edible Oils and Fats Market Breakdown by Type
    - 9.1.5.4.2 Mexico Edible Oils and Fats Market Breakdown by Application
9.2 Europe
- 9.2.1 Europe Edible Oils and Fats Market Overview
- 9.2.2 Europe Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
- 9.2.3 Europe Edible Oils and Fats Market Breakdown by Type
  - 9.2.3.1 Europe Edible Oils and Fats Market Revenue, Forecasts and Analysis - By Type
- 9.2.4 Europe Edible Oils and Fats Market Breakdown by Application
  - 9.2.4.1 Europe Edible Oils and Fats Market Revenue, Forecasts and Analysis - By Application
- 9.2.5 Europe Edible Oils and Fats Market Revenue and Forecasts and Analysis - By Countries
  - 9.2.5.1 Europe Edible Oils and Fats Market Breakdown by Country
  - 9.2.5.2 Germany Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.2.5.2.1 Germany Edible Oils and Fats Market Breakdown by Type
    - 9.2.5.2.2 Germany Edible Oils and Fats Market Breakdown by Application
  - 9.2.5.3 UK Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.2.5.3.1 UK Edible Oils and Fats Market Breakdown by Type
    - 9.2.5.3.2 UK Edible Oils and Fats Market Breakdown by Application
  - 9.2.5.4 France Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.2.5.4.1 France Edible Oils and Fats Market Breakdown by Type
    - 9.2.5.4.2 France Edible Oils and Fats Market Breakdown by Application
  - 9.2.5.5 Italy Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.2.5.5.1 Italy Edible Oils and Fats Market Breakdown by Type
    - 9.2.5.5.2 Italy Edible Oils and Fats Market Breakdown by Application
  - 9.2.5.6 Russia Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.2.5.6.1 Russia Edible Oils and Fats Market Breakdown by Type
    - 9.2.5.6.2 Russia Edible Oils and Fats Market Breakdown by Application
  - 9.2.5.7 Rest of Europe Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.2.5.7.1 Rest of Europe Edible Oils and Fats Market Breakdown by Type
    - 9.2.5.7.2 Rest of Europe Edible Oils and Fats Market Breakdown by Application
9.3 Asia Pacific
- 9.3.1 Asia Pacific Edible Oils and Fats Market Overview
- 9.3.2 Asia Pacific Edible Oils and Fats Market Revenue and Forecasts To 2030 (US$ Million)
- 9.3.3 Asia Pacific Edible Oils and Fats Market Breakdown by Type
  - 9.3.3.1 Asia Pacific Edible Oils and Fats Market Revenue, Forecasts and Analysis - By Type
- 9.3.4 Asia Pacific Edible Oils and Fats Market Breakdown by Application
  - 9.3.4.1 Asia Pacific Edible Oils and Fats Market Revenue, Forecasts and Analysis - By Application
- 9.3.5 Asia Pacific Edible Oils and Fats Market Breakdown by Country
  - 9.3.5.1 Asia Pacific Edible Oils and Fats Market Breakdown by Country
  - 9.3.5.2 China Edible Oils and Fats Market Revenue and Forecasts To 2030 (US$ Million)
    - 9.3.5.2.1 China Edible Oils and Fats Market Breakdown by Type
    - 9.3.5.2.2 China Edible Oils and Fats Market Breakdown by Application
  - 9.3.5.3 Japan Edible Oils and Fats Market Revenue and Forecasts To 2030 (US$ Million)
    - 9.3.5.3.1 Japan Edible Oils and Fats Market Breakdown by Type
    - 9.3.5.3.2 Japan Edible Oils and Fats Market Breakdown by Application
  - 9.3.5.4 India Edible Oils and Fats Market Revenue and Forecasts To 2030 (US$ Million)
    - 9.3.5.4.1 India Edible Oils and Fats Market Breakdown by Type
    - 9.3.5.4.2 India Edible Oils and Fats Market Breakdown by Application
  - 9.3.5.5 Australia Edible Oils and Fats Market Revenue and Forecasts To 2030 (US$ Million)
    - 9.3.5.5.1 Australia Edible Oils and Fats Market Breakdown by Type
    - 9.3.5.5.2 Australia Edible Oils and Fats Market Breakdown by Application
  - 9.3.5.6 South Korea Edible Oils and Fats Market Revenue and Forecasts To 2030 (US$ Million)
    - 9.3.5.6.1 South Korea Edible Oils and Fats Market Breakdown by Type
    - 9.3.5.6.2 South Korea Edible Oils and Fats Market Breakdown by Application
  - 9.3.5.7 Rest of Asia Pacific Edible Oils and Fats Market Revenue and Forecasts To 2030 (US$ Million)
    - 9.3.5.7.1 Rest of Asia Pacific Edible Oils and Fats Market Breakdown by Type
    - 9.3.5.7.2 Rest of Asia Pacific Edible Oils and Fats Market Breakdown by Application
9.4 South & Central America
- 9.4.1 South & Central America Edible Oils and Fats Market Overview
- 9.4.2 South & Central America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
- 9.4.3 South & Central America Edible Oils and Fats Market Breakdown by Type
  - 9.4.3.1 South & Central America Edible Oils and Fats Market Forecasts and Analysis - By Type
- 9.4.4 South & Central America Edible Oils and Fats Market Breakdown by Application
  - 9.4.4.1 South & Central America Edible Oils and Fats Market Revenue, Forecasts and Analysis - By Application
- 9.4.5 South & Central America Edible Oils and Fats Market Revenue, Forecasts and Analysis - By Countries
  - 9.4.5.1 South & Central Edible Oils and Fats Market Breakdown by Country
  - 9.4.5.2 Brazil Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.4.5.2.1 Brazil Edible Oils and Fats Market Breakdown by Type
    - 9.4.5.2.2 Brazil Edible Oils and Fats Market Breakdown by Application
  - 9.4.5.3 Argentina Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.4.5.3.1 Argentina Edible Oils and Fats Market Breakdown by Type
    - 9.4.5.3.2 Argentina Edible Oils and Fats Market Breakdown by Application
  - 9.4.5.4 Rest of South & Central America Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.4.5.4.1 Rest of South & Central America Edible Oils and Fats Market Breakdown by Type
    - 9.4.5.4.2 Rest of South & Central America Edible Oils and Fats Market Breakdown by Application
9.5 Middle East & Africa
- 9.5.1 Middle East & Africa Edible Oils and Fats Market Overview
- 9.5.2 Middle East & Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
- 9.5.3 Middle East & Africa Edible Oils and Fats Market Breakdown by Type
  - 9.5.3.1 Middle East & Africa Edible Oils and Fats Market Forecasts and Analysis - By Type
- 9.5.4 Middle East & Africa Edible Oils and Fats Market Breakdown by Application
  - 9.5.4.1 Middle East & Africa Edible Oils and Fats Market Forecasts and Analysis - By Application
- 9.5.5 Middle East & Africa Edible Oils and Fats Market Revenue and Forecasts and Analysis - By Countries
  - 9.5.5.1 Middle East & Africa Edible Oils and Fats Market Breakdown by Country
  - 9.5.5.2 Saudi Arabia Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.5.5.2.1 Saudi Arabia Edible Oils and Fats Market Breakdown by Type
    - 9.5.5.2.2 Saudi Arabia Edible Oils and Fats Market Breakdown by Application
  - 9.5.5.3 UAE Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.5.5.3.1 UAE Edible Oils and Fats Market Breakdown by Type
    - 9.5.5.3.2 UAE Edible Oils and Fats Market Breakdown by Application
  - 9.5.5.4 South Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.5.5.4.1 South Africa Edible Oils and Fats Market Breakdown by Type
    - 9.5.5.4.2 South Africa Edible Oils and Fats Market Breakdown by Application
  - 9.5.5.5 Rest of Middle East & Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
    - 9.5.5.5.1 Rest of Middle East & Africa Edible Oils and Fats Market Breakdown by Type
    - 9.5.5.5.2 Rest of Middle East & Africa Edible Oils and Fats Market Breakdown by Application

10. Edible Oils and Fats Market - Impact of COVID-19 Pandemic

10.1 Pre & Post COVID-19 Impact

11. Competitive Landscape

11.1 Company Positioning & Concentration
11.2 Heat Map Analysis by Key Players

12. Company Profiles

12.1 Bunge Ltd
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Archer-Daniels-Midland Co
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Fuji Oil Co Ltd
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Kao Corp
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 AAK AB
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 J-Oil Mills Inc
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Cargill Inc
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Olam Group Ltd
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 ConnOils LLC
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 Louis Dreyfus Co BV
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments

13. Appendix