The vegetable oil market is projected to reach US$324.1 billion by 2027, growing at a CAGR of 4.92% over the period 2022-2027.
SHERIDAN, WY, Sept. 21, 2022 /EINPresswire.com/ — According to IMARC Group’s recent report, titled “Vegetable Oil (Palm, Canola, Coconut, and Soybean) Market: Global Industry Trends, Share, Size , Growth, Opportunity and Forecast 2022-2027”, the global vegetable oils market size reached US$241.4 billion in 2021. Looking ahead, IMARC Group expects the market to reach $324.1 billion by 2027 and will exhibit a growth rate (CAGR) of 4.92% over the period 2022-2027.
Vegetable oils are extracted from the nuts, seeds and fruits of various plants. They provide essential nutrients such as omega-3 and omega-6 fatty acids as well as vitamins E, A and B1. Vegetable oils are widely used as an alternative to petrochemical and animal fats in food and non-food applications. They are used in the production of cosmetics, bactericides and medicines. Vegetable oils also provide several health benefits including lowering cholesterol levels, reducing risk of cardiovascular disease, improving metabolism and digestion, etc. Hence, these lubricants are widely used in biofuels and in the food and beverage (F&B) sector worldwide ). .
Note: We regularly track the direct impact of COVID-19 on the market as well as the indirect impact of related industries. These observations are integrated into the report.
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Vegetable Oil Market Trends:
Increasing product demand in the manufacturing of fuels, culinary soaps and perfume formulations are among the main factors driving the vegetable oil market. Additionally, people’s increasing awareness of the health benefits of consuming these lubes, such as B. Cardiac health management, the market growth continues. In addition, the growing need for vegetable oils in various industries is catalyzing the global market due to their affordable price, lower volatility, improved printing performance, high viscosity and easy availability. In addition, the changing eating habits of consumers due to the increasing prevalence of civilization diseases act as important growth factors. Furthermore, the introduction of multiple policies by government agencies to promote bio-based and organic products are expected to boost the vegetable oil market in the coming years.
Vegetable Oil Market 2022-2027 Competitive Analysis and Segmentation:
Competitive landscape with key players:
The competitive landscape of the Vegetable Oil market has been studied in the report that includes the detailed profiles of the major market players.
Some of these key players are:
• Archer-Daniels-Midland Company,
• Bunge Limited,
• Cargil,
• registered,
• Louis Dreyfus Company BV
• Wilmar International Ltd.
Key Market Segmentation:
The report has segmented the vegetable oil market based on oil type, application and region.
Breakdown by Oil Type:
• Palm oil
• Soybean oil
• Sunflower oil
• rapeseed oil
• Coconut Oil
• Palm kernel oil
Separation by application:
• Food industry
• Biofuels
• Other
Breakdown by region:
• North America (United States, Canada)
• Europe (Germany, France, UK, Italy, Spain, Russia, others)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, others)
• Latin America (Brazil, Mexico, others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, others)
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Key highlights of the report:
• Market performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market drivers and success factors
• Effects of COVID-19
• Value chain analysis
• Comprehensive mapping of the competitive landscape
If you require specific information that is not currently in the scope of the report, we will provide it as part of the customization.
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