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Press Release:

Global Vegetable Oil Market to Reach US$ 324.1 Billion by 2027, Bolstered by Increasing Biofuel Production

COVID-19
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Vegetable Oil (Palm Oil, Canola Oil, Coconut Oil and Soybean Oil) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global vegetable oil market size reached US$ 241.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 324.1 Billion by 2027, exhibiting a growth rate (CAGR) of 4.92% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Vegetable oils are extracted from the seeds, nuts, and fruits of various plants. They provide essential nutrients, such as vitamins E, A, and B1, and omega-3 and omega-6 fatty acids. They are commonly utilized as an alternative to animal-based fats and petrochemicals in both food and non-food applications. For instance, they are used in the production of bactericides, cosmetics, and pharmaceuticals. Moreover, as they offer health benefits, such as reducing the risk of cardiovascular diseases, improving metabolism and digestion, and lowering cholesterol levels, vegetable oils are widely employed in the preparation of numerous dishes across the globe.

 

 
 

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Vegetable Oil Market Trends:

Presently, there is a considerable rise in the demand for vegetable oils in the production of fuels, culinary soaps, and perfume formulations. This represents one of the key factors propelling the market growth. Apart from this, the increasing awareness among individuals about the health benefits of consuming vegetable oils, such as managing heart health, is also driving the market. In addition to this, there is a significant rise in the need for vegetable oils as an alternative for mineral oil across different end use industries. This can be attributed to their affordable price, lower volatility, better pressure performance, high viscosity, and easy availability around the world. Furthermore, the increasing prevalence of lifestyle diseases has resulted in the changing dietary habits of consumers worldwide. As a result, leading market players are introducing minimally processed and organic vegetable oil variants. This, along with numerous initiatives undertaken by governing agencies of several countries to promote bio-based products like vegetable oils, is stimulating the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global vegetable oil market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on oil type and application.

Breakup by Oil Type:

 

 
 

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

At present, palm oil accounts for the majority of the total market share as it is widely used for preparing various foods, industrial chemicals and biofuels.

Breakup by Application:

  • Food Industry
  • Biofuels
  • Others
     

The food industry currently holds the largest market share.

Breakup by Regions:

  • China
  • United States
  • India
  • Europe
  • Indonesia
  • Malaysia
  • Brazil
  • Others
     

Amongst these, China enjoys the leading position in the market.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Archer-Daniels-Midland Company, Bunge Limited, Cargill, Incorporated, Louis Dreyfus Company BV and Wilmar International Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion, Million Tons
Segment Coverage Oil Type, Application, Region
Region Covered China, United States, India, Europe, Indonesia, Malaysia, Brazil, Others
Companies Covered Archer-Daniels-Midland Company, Bunge Limited, Cargill, Incorporated, Louis Dreyfus Company BV and Wilmar International Ltd
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction
    4.1    Overview
    4.2    Key Industry Trends
5   Global Vegetable Oil Industry
    5.1    Market Overview
    5.2    Market Performance
        5.2.1 Volume Trends
        5.2.2 Value Trends
    5.3    Impact of COVID-19
    5.4    Market Breakup by Region
    5.5    Market Breakup by Oil Type
    5.6    Market Breakup by Application
    5.7    Market Forecast
    5.8    SWOT Analysis
        5.8.1    Overview
        5.8.2    Strengths
        5.8.3    Weaknesses
        5.8.4    Opportunities
        5.8.5    Threats
    5.9    Value Chain Analysis
          5.9.1    Input Suppliers
          5.9.2    Farmers
          5.9.3    Collectors
          5.9.4    Manufacturers
          5.9.5    Distributors
          5.9.6    Retailers
          5.9.7    End-Consumers
    5.10    Porter’s Five Forces Analysis
        5.10.1    Overview
        5.10.2    Bargaining Power of Buyers
        5.10.3    Bargaining Power of Suppliers
        5.10.4    Degree of Competition
        5.10.5    Threat of New Entrants
        5.10.6    Threat of Substitutes
    5.11   Price Analysis
        5.11.1    Key Price Indicators
        5.11.2    Price Structure
        5.11.3    Price Trends
    5.12   Key Market Drivers and Success Factors
6   Performance of Key Regions
    6.1 China
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2 United States
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3 India
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4 Europe
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5 Indonesia
        6.5.1 Market Trends
        6.5.2 Market Forecast
    6.6 Malaysia
        6.6.1 Market Trends
        6.6.2 Market Forecast
    6.7 Brazil
        6.7.1 Market Trends
        6.7.2 Market Forecast
    6.8 Others
        6.8.1 Market Trends
        6.8.2 Market Forecast
7   Market by Oil Type
    7.1 Palm Oil
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2 Soybean Oil
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3 Sunflower Oil
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4 Canola Oil
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5 Coconut Oil
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6 Palm Kernel Oil
        7.6.1 Market Trends
        7.6.2 Market Forecast
8   Market by Application
    8.1 Food Industry
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2 Biofuels
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3 Others
        8.3.1 Market Trends
        8.3.2 Market Forecast
9   Competitive Landscape
    9.1 Market Structure
    9.2 Key Players
10  Vegetable Oil Manufacturing
    10.1    Product Overview
        10.1.1 Palm Oil
        10.1.2 Canola Oil
        10.1.3 Coconut Oil
        10.1.4 Soybean Oil
    10.2    Detailed Process Flow
        10.2.1 Palm Oil
        10.2.2 Canola Oil
        10.2.3 Coconut Oil
        10.2.4 Soybean Oil
    10.3    Various Types of Unit Operations Involved
        10.3.1 Palm Oil
        10.3.2 Canola Oil
        10.3.3 Coconut Oil
        10.3.4 Soybean Oil
    10.4    Mass Balance and Raw Material Requirements
        10.4.1 Palm Oil
        10.4.2 Canola Oil
        10.4.3 Coconut Oil
        10.4.4 Soybean Oil
11  Project Details, Requirements and Costs Involved
    11.1    Land Requirements and Expenditures
    11.2    Construction Requirements and Expenditures
    11.3    Plant Layout
    11.4    Plant Machinery
    11.5    Machinery Pictures
    11.6    Raw Material Requirements and Expenditures
    11.7    Raw Material and Final Product Pictures
    11.8    Packaging Requirements and Expenditures
    11.9    Transportation Requirements and Expenditures
    11.10    Utility Requirements and Expenditures
    11.11    Manpower Requirements and Expenditures
    11.12    Other Capital Investments
12  Loans and Financial Assistance
13  Project Economics
    13.1    Capital Cost of the Project
    13.2    Techno-Economic Parameters
    13.3    Product Pricing and Margins Across Various Levels of the Supply Chain
    13.4    Taxation and Depreciation
    13.5    Income Projections
    13.6    Expenditure Projections
    13.7    Financial Analysis
    13.8    Profit Analysis
14  Key Player Profiles
    14.1 Archer-Daniels-Midland Company
    14.2 Bunge Limited
    14.3 Cargill, Incorporated
    14.4 Louis Dreyfus Company BV
    14.5 Wilmar International Ltd.

List of Figures

Figure 1: Global: Vegetable Oil Market: Major Drivers and Challenges
Figure 2: Global: Vegetable Oil Production: Volume Trends (in Million Tons), 2016-2021
Figure 3: Global: Vegetable Oil Consumption: Volume Trends (in Million Tons), 2016-2021
Figure 4: Global: Vegetable Oil Consumption: Value Trends (in Billion US$), 2016-2021
Figure 5: Global: Vegetable Oil Market: Breakup by Region (in %), 2021
Figure 6: Global: Vegetable Oil Market: Breakup by Oil Type (in %), 2021
Figure 7: Global: Vegetable Oil Market: Breakup by Application (in %), 2021
Figure 8: Global: Vegetable Oil Production Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 9: Global: Vegetable Oil Consumption Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 10: Global: Vegetable Oil Consumption Forecast: Value Trends (in Billion US$), 2022-2027
Figure 11: Global: Vegetable Oil Industry: SWOT Analysis
Figure 12: Global: Vegetable Oil Industry: Value Chain Analysis
Figure 13: Global: Vegetable Oil Industry: Porter’s Five Forces Analysis
Figure 14: Global: Vegetable Oil Market: Average Prices (in US$/Ton), 2016-2021
Figure 15: Vegetable Oil Market: Price Structure
Figure 16: Global: Vegetable Oil Market Forecast: Average Prices (in US$/Tons), 2022-2027
Figure 17: China: Vegetable Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 18: China: Vegetable Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 19: United States: Vegetable Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 20: United States: Vegetable Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 21: India: Vegetable Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 22: India: Vegetable Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 23: Europe: Vegetable Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 24: Europe: Vegetable Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 25: Indonesia: Vegetable Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 26: Indonesia: Vegetable Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 27: Malaysia: Vegetable Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 28: Malaysia: Vegetable Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 29: Brazil: Vegetable Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 30: Brazil: Vegetable Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 31: Others: Vegetable Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 32: Others: Vegetable Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 33: Global: Palm Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 34: Global: Palm Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 35: Global: Soybean Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 36: Global: Soybean Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 37: Global: Canola Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 38: Global: Canola Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 39: Global: Sunflower Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 40: Global: Sunflower Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 41: Global: Coconut Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 42: Global: Coconut Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 43: Global: Palm Kernel Oil Market: Volume Trends (in Million Tons), 2016 & 2021
Figure 44: Global: Palm Kernel Oil Market Forecast: Volume Trends (in Million Tons), 2022-2027
Figure 45: Global: Vegetable Oil Market: Food Industry (in Million Tons), 2016 & 2021
Figure 46: Global: Vegetable Oil Market Forecast: Food Industry (in Million Tons), 2022-2027
Figure 47: Global: Vegetable Oil Market: Biofuels (in Million Tons), 2016 & 2021
Figure 48: Global: Vegetable Oil Market Forecast: Biofuels (in Million Tons), 2022-2027
Figure 49: Global: Vegetable Oil Market: Other Uses (in Million Tons), 2016 & 2021
Figure 50: Global: Vegetable Oil Market Forecast: Other Uses (in Million Tons), 2022-2027
Figure 51: Palm Oil Manufacturing: Detailed Process Flow
Figure 52: Soybean Oil Manufacturing: Detailed Process Flow
Figure 53: Canola Oil Manufacturing: Detailed Process Flow
Figure 54: Sunflower Oil Manufacturing: Detailed Process Flow
Figure 55: Palm Oil Manufacturing: Conversion Rate of Feedstocks
Figure 56: Soybean Oil Manufacturing: Conversion Rate of Feedstocks
Figure 57: Canola Oil Manufacturing: Conversion Rate of Feedstocks
Figure 58: Sunflower Oil Manufacturing: Conversion Rate of Feedstocks
Figure 59: Vegetable Oil Manufacturing: Proposed Plant Layout
Figure 60: Vegetable Oil Manufacturing: Breakup of Capital Costs (in %)
Figure 61: Vegetable Oil Industry: Profit Margins at Various Levels of the Supply Chain
Figure 62: Vegetable Oil Processing: Manufacturing Cost Breakup (in %)

List of Tables

Table 1: Global: Vegetable Oil Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Vegetable Oil Market Forecast: Breakup by Region (in Million Tons), 2022-2027
Table 3: Global: Vegetable Oil Market Forecast: Breakup by Oil Type (in Million Tons), 2022-2027
Table 4: Global: Vegetable Oil Market Forecast: Breakup by End-Use (in Million Tons), 2022-2027
Table 5: Global: Vegetable Oil Market: Competitive Structure
Table 6: Vegetable Oil Manufacturing Costs Related to Land and Site Development (in US$)
Table 7: Vegetable Oil Manufacturing Costs Related to Civil Works (in US$)
Table 8: Vegetable Oil Manufacturing Plant: Machinery Costs (in US$)
Table 9: Vegetable Oil Manufacturing Plant: Raw Material Requirements
Table 10: Vegetable Oil Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 11: Vegetable Oil Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 12: Vegetable Oil Manufacturing Plant: Details of Financial Assistance Offered by Financial Institutions
Table 13: Vegetable Oil Manufacturing Plant: Vegetable Oil Processing Plant: Capital Costs (in US$)
Table 14: Vegetable Oil Manufacturing Plant: Techno-Economic Parameters
Table 15: Vegetable Oil Manufacturing Plant: Taxation and Depreciation
Table 16: Vegetable Oil Manufacturing Plant:  Income Projections (in US$)
Table 17: Vegetable Oil Manufacturing Plant: Expenditure Projections (in US$)
Table 18: Vegetable Oil Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
Table 19: Vegetable Oil Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in US$)
Table 20: Vegetable Oil Manufacturing Plant: Profit and Loss Account (in US$)


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Key Questions Answered in This Report

Due to the outbreak of the coronavirus disease (COVID-19) and the consequent lockdowns, there has been a significant decline in the demand for vegetable oil on account of the closure of hotels, restaurants, and catering services.

The global vegetable oil market is expected to exhibit a CAGR of 4.92% during 2022-2027.

The global vegetable oil market reached a value of US$ 241.4 Billion in 2021.

The thriving food and beverage industry, coupled with the significant increase in the sales of convenience foods due to hectic lifestyles, increasing disposable incomes and changing dietary patterns, is bolstering the market growth.

One of the leading trends in the global vegetable oil market is the introduction of minimally processed and organic products on account of the rising health consciousness among consumers.

Based on the oil type, palm oil represents the most preferred product. Other major types include soybean, sunflower, canola, coconut, and palm kernel.

On the basis of the application, the market has been classified into the food industry, biofuels, and others. Amongst these, the food industry exhibits a clear dominance in the market.

Region-wise, China holds the leading position in the market. Other major regions include the United States, India, Europe, China, Malaysia, and Brazil.

The leading industry players are Archer-Daniels-Midland Company, Bunge Limited, Cargill, Incorporated, Louis Dreyfus Company BV and Wilmar International Ltd.

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