The latest report by IMARC Group, titled “Vegetable Oil (Palm Oil, Canola Oil, Coconut Oil and Soybean Oil) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global vegetable oil market has grown at a CAGR of around 4% during 2009-2016 with the consumption volume of reaching 178 Million Tons in 2016. Vegetable oils are natural oils extracted from the nuts, seeds and fruits of the plants. Vegetable oils contain 100 percent fat, and usually remain in liquid state, even at fairly low temperatures.
They are most commonly used to improve the texture of bakery products; as a medium for cooking procedures such as frying; as a base for flavoured content; and in the form of constituents in margarine, shortening, etc. They also serve as a good alternative for people who avoid using oils loaded with animal-based fats. Apart from this, vegetable oils find a number of applications in non-food industries as well. Other uses of vegetable oils include in the manufacturing process of cosmetics, pharmaceuticals, soaps, detergents, etc. According to the report, the market is further expected to reach a volume of 235 Million Tons by 2022, growing at a CAGR of around 5% during 2017-2022.
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The report examines numerous growth inducing factors driving the global vegetable oil market. The market is gaining impetus from growing health consciousness of consumers due to which there is a strong demand for healthy, organic and natural (unprocessed/unrefined) vegetable oils. It has also been found that vegetable oils help in decreasing the risk of cardiovascular diseases and breast cancer, and improve metabolism. Some of the other factors influencing the growth of the market are population growth, improving living standards, rising demand from developing markets, changing dietary habits, growth in the food sector and an increasing demand for biodiesel production.
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The report has segmented the market on the basis of product type, including palm oil, soybean oil, canola oil, sunflower oil, coconut oil, etc. Palm oil represents the largest segment accounting for the majority of total vegetable oil consumption volumes. On the basis of application, vegetable oils are mostly used in the food sector, followed by the industrial and biofuel sectors. The report also offers a thorough evaluation of the key regions. Currently, Indonesia represents the largest producer of vegetable oils followed by China, Malaysia and the European Union. On the other hand, China is currently the largest consumer of vegetable oils accounting for nearly one-fifth of the total global vegetable oil consumption followed by the European Union, India, United States and Indonesia. An analysis of the competitive landscape is also provided with some of the key players being, ADM, Louis Dreyfus, Bunge, Cargil and Wilmar.
This report provides a detailed technical insight on setting up and operating a vegetable oil processing plant. It covers all the prerequisites of the vegetable oil industry and provides a comprehensive analysis of the market, industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the vegetable oil industry in any manner.
Browse related reports:
Rice Bran Oil Market: http://www.imarcgroup.com/rice-bran-oil-processing-plant
Soybean Oil Market: http://www.imarcgroup.com/soybean-oil-processing-plant
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