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Vegetable Oil Market - Growth, Trends and Forecasts (2020 - 2025)

Global Vegetable Oil Market is segmented by Product Type (Palm Oil, Soybean Oil, Rapeseed Oil, Sunflower Oil, Olive Oil, and Others) By Application (Food, Feed and Industrial); and by Geography

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Europe

CAGR:

5.14 %

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Market Overview

The global vegetable oil market is projected to grow at a CAGR of 5.14% during the forecast period (2020 - 2025).

  • The market is driven by 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.
  • Vegetable oils are finding their way into lubricants for industrial and transportation applications. Potential benefits include resource renewability and biodegradability, as well as providing satisfactory performance. Some applications where such oils are finding their niche include two stroke engines, chain saws, hydraulics, mold releases, open gears, and farming, mining, and forestry equipment. These oils have also proved to serve as excellent greases and fuels.
  • The rising environmental concerns, supported by various government measures to reduce the use of palm oil, are anticipated to hamper the market growth, during the forecast period.

Scope of the Report

The global vegetable oil market has been segmented by type which includes palm oil, soybean oil, rapeseed oil, sunflower oil, olive oil and others. Based on application, the market is segmented into food, feed and industrial. The study also involves the global level analysis of the main regions such as North America, Europe, Asia-Pacific, South America, the Middle East, and Africa.

By Type
Palm Oil
Soybean Oil
Rapeseed Oil
Sunflower Oil
Olive Oil
Others
By Application
Food
Feed
Industrial
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
United Arab Emirates
Rest of Middle East and Africa

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Key Market Trends

Supportive policies on vegetable oil usage in various countries

EU’s consumption of vegetable oil in biofuel has been 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. EU Member States (countries) are required to implement this target with national laws and incentives, such as blending mandates. Palm oil contributes around 20% to the production of biodiesel (fatty acid methyl ester) and renewable diesel (hydrotreated vegetable oil) in the EU. The other major feedstocks for producing diesel substitutes are rapeseed, used in cooking oil and animal fats. The main policy promoting the use of biofuel in the United States is the Renewable Fuel Standard (RFS), which mandates the consumption of increasing volumes of biofuel each year.

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Asia-Pacific Dominates the Market

Asia-Pacific registers as the dominated region across the globe and 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. The Chinese vegetable oil market majorly encompasses palm oil, soybean, rapeseed, peanut, sunflower oil, and olive oil. Over the past five years, soybean and palm oil had the largest shares in the Chinese vegetable oil market. Wilmar International Ltd (Yihai Kerry), Cofco Corporation, and Xiwang Food are some of the major edible vegetable oil companies operating in the Chinese market.

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Competitive Landscape

The global vegetable oil market is fragmented, yet competitive and the major strategies adopted by the key players of the market studied includes product innovation, partnership, expansion, and mergers and acquisition. Wilmar International Limited, Bunge Limited, Golden Agri-Resources, and Sime Darby Plantation Berhad are some of the prominent players.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 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 Others

    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 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Rest of Middle East and Africa

  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 Archer Daniels Midland Company

      2. 6.4.2 Sime Darby Plantation Berhad

      3. 6.4.3 Bunge Limited

      4. 6.4.4 Olam International Limited

      5. 6.4.5 Cargill Incorporated

      6. 6.4.6 Golden Agri-Resources

      7. 6.4.7 Wilmar International Limited

      8. 6.4.8 Kuala Lumpur Kepong Berhad

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

** Subject to Availability

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