Australia Vegetable Oil Market

Australia Vegetable Oil Market Overview:

The Australia vegetable oil market size reached USD 7.85 Billion in 2024. Looking forward, the market is projected to reach USD 12.50 Billion by 2033, exhibiting a growth rate (CAGR) of 4.76% during 2025-2033. The market is driven by growing consumer preference for heart-healthy, clean-label oils across both retail and food processing segments. Domestic oilseed cultivation and export-oriented refining systems support stable supply and international trade access. Expanding industrial applications in biodiesel, cosmetics, and feed further augment the Australia vegetable oil market share.

Australia Vegetable Oil Market Trends:

Rising Demand for Health-Oriented Edible Oils

Australian consumers are increasingly selecting vegetable oils based on health attributes, such as low saturated fat content and the presence of omega fatty acids. Oils like canola, olive, sunflower, and avocado are favored for their cardiovascular benefits and compatibility with clean-label food formulations. Between January and September 2023, Australia imported 44,350 tons of vegetable oil from Argentina, making it the top supplier, followed closely by Malaysia with 42,205 tons, primarily refined, bleached, and deodorized (RBD) palm oil and olein. Cumulative imports reached 90,557 tons during the period. The average shipment volume stood at 2,829 tons. The growing popularity of Mediterranean and plant-based diets, along with rising awareness about trans fats and cholesterol, has led both consumers and food manufacturers to prefer cold-pressed and unrefined oils. Supermarkets and specialty grocers are expanding shelf space for premium domestic and imported vegetable oils, including those with organic or spray-free certifications. Additionally, cooking shows, nutrition influencers, and public health campaigns continue to educate consumers about choosing oils that support long-term wellness. This shift is also evident in bakery and snack manufacturing, where vegetable oils are used as healthier alternatives to animal fats or hydrogenated oils. Producers are reformulating products to meet consumer demand for reduced saturated fat and natural ingredients, ensuring that vegetable oil remains central to food innovation. These changing dietary values and preferences around nutritional quality are playing a pivotal role in Australia vegetable oil market growth, especially within the higher-value segments of the food industry.

Integration of Oilseeds into Domestic Agribusiness and Export Value Chain

Australia is a leading global producer and exporter of canola, and this agricultural strength underpins its vegetable oil sector. Domestic refining capacity, centered around key regions in New South Wales and Victoria, enables efficient processing of oilseeds into edible oils for local consumption and international trade. Australian canola is highly valued in export markets—especially Japan and the EU—for its low erucic acid levels and non-GMO certification. In recent years, farmers have diversified rotations to include sunflower and safflower in select areas, enhancing raw material flexibility. Government-backed research through bodies like CSIRO focuses on crop improvement, yield stability, and sustainable cultivation practices, which help maintain Australia’s competitive edge. On November 27, 2024, Riverina Oils, one of Australia’s major canola oil producers, began operating its Bomen, NSW facility with solar power through a new partnership with renewable energy provider Flow Power. The solar installation, featuring 2.8 MW of solar PV and a 2.6 MVA inverter, powers a facility that annually produces over 80,000 tons of refined vegetable oil and 120,000 tons of canola meal. This project marks Flow Power’s largest behind-the-meter initiative and aligns with broader efforts to decarbonize the Australian vegetable oil market. Meanwhile, trade agreements and favorable biosecurity standards ensure that oilseed exports face minimal tariff or compliance barriers. These factors support both upstream growers and downstream processors by offering stability and access to high-demand markets. The vertically integrated oilseed-to-oil system, reinforced by strong quality standards and export competitiveness, plays a crucial role in shaping long-term resilience and profitability across the Australian vegetable oil supply chain.

Australia Vegetable Oil Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on oil type and application.

Oil Type Insights:

• Palm Oil
• Soybean Oil
• Sunflower Oil
• Canola Oil
• Coconut Oil
• Palm Kernel Oil

The report has provided a detailed breakup and analysis of the market based on the oil type. This includes palm oil, soybean oil, sunflower oil, canola oil, coconut oil, and palm kernel oil.

Application Insights:

• Food Industry
• Biofuels
• Others

The report has provided a detailed breakup and analysis of the market based on the application. This includes food industry, biofuels, and others.

Regional Insights:

• Australia Capital Territory & New South Wales
• Victoria & Tasmania
• Queensland
• Northern Territory & Southern Australia
• Western Australia

The report has also provided a comprehensive analysis of all major regional markets. This includes Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia, and Western Australia.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Australia Vegetable Oil Market Report Coverage:

Key Questions Answered in This Report:

• How has the Australia vegetable oil market performed so far and how will it perform in the coming years?
• What is the breakup of the Australia vegetable oil market on the basis of oil type?
• What is the breakup of the Australia vegetable oil market on the basis of application?
• What is the breakup of the Australia vegetable oil market on the basis of region?
• What are the various stages in the value chain of the Australia vegetable oil market? 
• What are the key driving factors and challenges in the Australia vegetable oil market?
• What is the structure of the Australia vegetable oil market and who are the key players?
• What is the degree of competition in the Australia vegetable oil market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Australia vegetable oil market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Australia vegetable oil market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Australia vegetable oil industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.