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Europe Vegetable Oil Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Europe Vegetable Oil Market is segmented by Type (Palm Oil, Soybean Oil, Rapeseed Oil, Sunflower Oil, Olive Oil, and Other Types), by Application (Food, Feed, and Industrial), and by Geography(Spain, United Kingdom, France, Germany, Russia, Italy and Rest of Europe). The report offers market size and forecasts for vegetable oil market in value (in USD million) for all the above segments.

Market Snapshot

Europe Vegetable Oil Market Summary
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 4.13 %

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Market Overview

The Europe vegetable oil market was valued at USD 29,220.6 million in 2020, and it is projected to witness a CAGR of 4.13% during the forecast period, 2021-2026.

  • The regional players are closely keeping abreast of the rapid evolution of the COVID-19 virus, and they have been doing their utmost to ensure a full supply continuity for all of their customers. Since the very beginning of the pandemic, the major companies across the region have been taking all appropriate prevention and protection measures. The companies are also putting everything in place to minimize the economic impact of this pandemic, and they are firmly committed to ensuring the safety of their employees and serve the customers as best as possible.
  • The supply chain of the market studied was vastly affected by the falling production of raw materials and social distancing measures due to the pandemic. According to COPA-COGECA, a union of the two big agricultural umbrella organisations and the strongest interest group for European farmers, the production of rapeseed in European Union is projected to reach 17 million metric ton, declining by 30%, in the marketing year 2020-2021, owing to reduction in planted area caused by the COVID-19 pandemic.
  • Over the long term, the market is driven by the robust demand for organic health-based products, with increased consumption among health-conscious consumers of high-quality edible oils /cooking oils and the growing demand from various application areas. Additionally, the supporting policies by the regulatory bodies, like Renewable Energy Directive (RED) and European Union Common Agricultural Policy (CAP), are also widely supporting the application of vegetable oil in varied industries, including biofuel, food, animal feed, or cosmetics.
  • Rapeseed oil dominates the market studied, owing to its abundant production in the regional market and its wide application in the biodiesel, food, and animal feed industries. Germany and France are the leading consumer of rapeseed oil in the regional market. Palm oil is another highly used vegetable oil in the European market, especially in the food industry, but the region is completely dependent on its import.

Scope of the Report

Europe vegetable oil market is segmented by type, application, and geography. Based on type, the market is segmented into palm oil, soybean oil, rapeseed oil, sunflower oil, olive oil, and other types. Based on the application, the market studied is segmented into food, feed, and industrial. Based on geography, the market is segmented into, Spain, United Kingdom, France, Germany, Russia, Italy and Rest of Europe. The report contains top-line revenues and a detailed qualitative analysis of the key players, highlighting the most adopted strategies, and recent developments of the companies in the market studied. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).

By Type
Palm Oil
Soybean Oil
Rapeseed Oil
Sunflower Oil
Olive Oil
Other Types
By Application
Food
Feed
Industrial
Geography
Spain
United Kingdom
France
Germany
Russia
Italy
Rest of Europe

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Key Market Trends

Supportive Policies on Vegetable Oil Usage in the Region

The European Union’s consumption of vegetable oil in biofuel is largely driven by the Renewable Energy Directive (RED). This directive, established in 2009, requires 10% of the energy consumption in road and rail transport in 2020 to be from renewable sources. The European Union Member States (countries) must implement this target with national laws and incentives, such as blending mandates. Among all, palm oil contributes around 20% to the production of biodiesel (fatty acid methyl ester) and renewable diesel (hydrotreated vegetable oil) in the European Union. The other major feedstocks for producing diesel substitutes are rapeseed, sunflower oil, and soybean oil. The current European Union Common Agricultural Policy (CAP) made some strategies to augment the oilseed and pulse production through “greening measures,” which will have a direct impact on the vegetable oil market of the region. Thus, the regulatory body is projected to ban many pesticides that are commonly used in the United States. As a result, the domestically produced vegetable oil will gain applications in the food, animal feed, and cosmetics industries by taking hold of consumer trust over the quality of vegetable oil used as an ingredient.

Europe Vegetable Oil Market1

Germany Holds the Largest Market Share

After Canada, Germany is believed to be the largest producer of rapeseed oil across the world. Based on its nutritionally well-balanced composition, rapeseed oil has become one of the most common vegetable oils in Germany and all over Europe. It is used as salad and cooking oil on a large scale and serves as an oil component in margarine, mayonnaise, and dressings. The non-food industry is also interested in rapeseed oil. It is used in energy productions, such as biofuels, and serves as an environment-friendly additive in lubricants. Germany is among one of the largest European markets for olive oil. Total consumption is high and stable. Moreover, the market offers good opportunities for organic olive oil. Most consumption in Germany is for virgin olive oil, this, in turn, boosts the demand for vegetable oil in the country.

Europe Vegetable Oil Market2

Competitive Landscape

The European vegetable oil market is fragmented, yet competitive, with a significant share held by the leading player such as Bunge Limited, taking up the maximum market share in the vegetable oil market in Europe. The company is followed by other key players, such as Archer Daniels Midland Company, Olam International Limited, and Wilmar International Limited. Product expansion is the most adopted strategy by key players in the market studied, followed by mergers and acquisitions. These strategies have been adopted with an aim to meet the demand and withstand competition in the market from the global players. The prime factors determining the market players and their positions in the concerned market are the high-quality ingredients used without any addition of preservatives to deliver the completely natural and organic products across the European region.

Recent Developments

  • In 2021, Bunge Loders Croklaan expanded its oils and fats portfolio to meet organic demand in Europe, offering a steady and scalable supply of organic oils and fats, ranging from sunflower, rapeseed, soy to palm, shea, and coconut.
  • In 2019, EFKO Group increases volumes of oilseeds processing. The company increased the volumes of oilseeds processing: the total volume of sunflower at all production areas of the company amounted to about 1 million ton, of soybean about 500 thousand tons. Consequently, the volume of processing of all oilseeds exceeded 1.6 million ton, it is second place in Russia and first in the Central Federal district.
  • In August 2018, The Avril Group launched Oleo100, a new energy resource made from French rapeseed and intended in the first instance for transport professionals (captive and local government fleets). Achieving performance comparable to that of diesel and at a competitive price, the adoption of Oleo100 is extremely simple and does not involve any additional costs for fleet operatives.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions & Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    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

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Palm Oil

      2. 5.1.2 Soybean Oil

      3. 5.1.3 Rapeseed Oil

      4. 5.1.4 Sunflower Oil

      5. 5.1.5 Olive Oil

      6. 5.1.6 Other Types

    2. 5.2 By Application

      1. 5.2.1 Food

      2. 5.2.2 Feed

      3. 5.2.3 Industrial

    3. 5.3 Geography

      1. 5.3.1 Spain

      2. 5.3.2 United Kingdom

      3. 5.3.3 France

      4. 5.3.4 Germany

      5. 5.3.5 Russia

      6. 5.3.6 Italy

      7. 5.3.7 Rest of Europe

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Cargill, Incorporated

      2. 6.4.2 Fuji Oil Holding Inc.

      3. 6.4.3 Archer Daniels Midland Company

      4. 6.4.4 Avril Group

      5. 6.4.5 EFKO Group

      6. 6.4.6 Bunge Limited

      7. 6.4.7 Olam International Limited

      8. 6.4.8 Wilmar International Limited

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Europe Vegetable Oil Market market is studied from 2016 - 2026.

The Europe Vegetable Oil Market is growing at a CAGR of 4.13% over the next 5 years.

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

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