Cooking Oil Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Cooking Oil Market is segmented by Type (Palm Oil, Rapeseed Oil , Sunflower Oil, Peanut Oil and Other Types), Application (Bakery and Confectionery, Snack Foods, Salads and Cooking oils, and Other applications), and Geography

Market Snapshot

Cooking Oil Market Overview
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Africa
Largest Market: Asia Pacific
CAGR: 3.25 %
Cooking Oil Market Key Players

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Market Overview

The global cooking oil market is projected to register a CAGR of 3.25% during the forecast period (2020 - 2025).

  • The global cooking oil market is driven by the robust demand for organic health-based products, with increased consumption of high-quality edible oils/cooking oils by health-conscious consumers and the growing demand from the various applications, such as confectionery, primarily in the production of candies.
  • Also, refined olive oil and coconut oil are increasingly being used in various bakery applications, as they are bland in taste, thereby, allowing the food to maintain the original flavour. Additionally, they do not exhibit any pungency, unlike mustard oil.
  • The demand for non-GMO cooking oil has also catered to the market, as it augmented the shares of sunflower oil, coconut oil, and olive oil, together with leading segments of the market studied, including, palm oil, canola oil, and soybean oil.
  • Asia-Pacific holds a significant share in the market studied, due to the huge demand from food industries, attributed to the increasing number of health-conscious consumers, strong population base, and changing living standards, coupled with the presence of major palm oil producing nations in the region. Additionally, a prominent factor in the increasing edible oil use is the growing consumption of processed food.

Scope of the Report

The market has been segmented based on type, application, and geography. Based on type, the market studied is segmented into palm oil, rapeseed oil, sunflower oil, peanut oil, and other types. Based on application, the market studied is segmented into bakery and confectionery, snack foods, salads and cooking oils, and other applications. Based on geography, the market studied is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

By Product Type
Palm Oil
Rapeseed Oil
Sunflower Oil
Peanut Oil
Other Types
By Application
Bakery and Confectionery
Snack Foods
Salads and Cooking Oils
Margarine, Fillings, and Spreads
Other Applications
By Geography
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Rest of Asia-Pacific
South America
Rest of South America
Middle East & Africa
Saudi Africa
Saudi Arabia
Rest of Middle East & Africa

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Key Market Trends

Palm Oil Emerges as the Most Consumed Oil

Palm oil is one of the most distributed cooking oil in the world. The primary users of palm oil include China, India, Indonesia, and the European Union. India, China, and the European Union do not produce crude palm oil and their demand is entirely met by imports. There is substantial demand for palm oil from various end-user sectors across the world since it costs 20% less than most cooking oils. Moreover, it is highly versatile. In the past few years, the production of palm oil amplified significantly, with almost the entire demand supplied by Malaysia and Indonesia. There is an increase in the demand for biofuel in most of the developed regions. This, in turn, is augmenting the demand for palm oil. Other chief demand drivers include the extensive application of palm oil in various aspects of the food industry.

Cooking Oil Market Key Trends

Asia Pacific Emerges As The Fastest Growing Market

Asia-Pacific accounts for the largest share of the global vegetable oil market and it is the second-fastest-growing region. Asia-Pacific has emerged as a dominant market for fish oil consumption owing to the massive concentration of the aquaculture industry in China, India, Vietnam, and Indonesia. Moreover, the rising health concerns among consumers leads to the usage of fish oil as a nutritional supplement in developed countries such as Japan and Australia. Olive oil, in particular, has the highest growth rate due to its health benefits. In Asia-Pacific, China holds the largest share of vegetable oil consumption, as well as production. Though the production volume is high, consumption exceeds production, resulting in higher import volumes when compared to export volumes. China is an import-oriented country

Cooking Oil Market Growth by Region

Competitive Landscape

The global cooking oil market is fragmented, yet competitive, with a significant share held by the leading players, such as ADM, Bunge Limited, Fuji Oil Holdings Inc, Wilmar International, and Musin Mas Group. These key players in the market aim at placing the right product to the right consumer. The consistent innovation in product quality, variety, usage, and other attributes is essential to maintain a strong foothold in the market.

Table of Contents


    1. 1.1 Study Deliverables and Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 By Product Type

      1. 5.1.1 Palm Oil

      2. 5.1.2 Rapeseed Oil

      3. 5.1.3 Sunflower Oil

      4. 5.1.4 Peanut Oil

      5. 5.1.5 Other Types

    2. 5.2 By Application

      1. 5.2.1 Bakery and Confectionery

      2. 5.2.2 Snack Foods

      3. 5.2.3 Salads and Cooking Oils

      4. 5.2.4 Margarine, Fillings, and Spreads

      5. 5.2.5 Other Applications

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      2. 5.3.2 Europe

        1. United Kingdom

        2. Germany

        3. Spain

        4. France

        5. Italy

        6. Russia

        7. Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. Rest of Asia-Pacific

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle East & Africa

        1. Saudi Africa

        2. Saudi Arabia

        3. Rest of Middle East & Africa


    1. 6.1 Strategies Adopted by Leading Players

    2. 6.2 Most Active Companies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Archer Daniels Midland Company

      2. 6.4.2 Cargill Incorporated

      3. 6.4.3 Bunge Limited

      4. 6.4.4 Olam International Limited

      5. 6.4.5 Fuji Oil Holding Inc.

      6. 6.4.6 Wilmar International Limited

      7. 6.4.7 Alami Commodities Sdn Bhd

      8. 6.4.8 Musim Mas Group

    5. *List Not Exhaustive


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Frequently Asked Questions

The Cooking Oil Market market is studied from 2016 - 2026.

The Cooking Oil Market is growing at a CAGR of 3.25% over the next 5 years.

Africa is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Archer Daniels Midland Company , Cargill Incorporated , Bunge Limited , Olam international Limited , Fuji Oil Holding Inc are the major companies operating in Cooking Oil Market.

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