Edible Oils Market worth $306.92 billion by 2029 - Exclusive Report by MarketsandMarkets™

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=198285285

Browse in-depth TOC on "Edible Oils Market"
470 – Tables
78 – Figures
435 – Pages

The sunflower oil segment is having a significant share within the type of segment of the edible oils market.

Sunflower oil, extracted from the seeds of Helianthus annuus L., is a versatile product largely used in food, biodiesel, and animal feed industries. The crude sunflower oil has a light amber color, while refined appears pale yellow, having a strong flavor and smell, which can be removed by processing. Composition of sunflower oil is significantly affected by factors like climate, temperature, genetics, and seed position. Although sunflower oil has several uses, its most prominent use is still for food as it has a highly nutritional profile. USDA 2023 reports show that global sunflower oil production reached 21.72 million metric tons in the year 2022/2023 and jumped to 22.13 million metric tons in the year 2023/2024. It experienced a 2% year-on-year increase. Major producers were Russia and Ukraine, both with 31%, while the European Union had 18%, Argentina 7%, and Turkey 3%. However, this growth indicates a high demand for sunflower oil in the global market due to increased usage in various culinary processes and in processed foods.

The household segment is growing at a significant CAGR in the edible oils market during the forecasted period 2024-2029.

The market share of edible oils used in the household end-use segment in the edible oils market is sufficiently high because of the rising population; segment in the edible oils market is sufficiently high because of household consumption, rising population, and growing household incomes. As households demand greater quantities of edible oils for everyday consumption, this segment has observed steady growth. According to the Government of India, Ministry of Commerce & Industry, December 2023 data, domestic consumption of edible oilseeds is increasing in a range of around 10 LMT per annum. This rise is majorly due to the fast-growing population and the increasing disposable incomes leading to overall demand for edible oils. The increased availability of edible oil supports this trend of usage as the domestic market is healthy and production capacities are going on increasing. The household-use segment would, therefore, be expected to continue its growth parallelly with the global rise in demand for edible oils.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=198285285

Based on region, Europe has a significant share in the edible oils market.

The European edible oils market has significant market share due to strong demand in all sectors such as domestic and food service. Key participants such as Associated British Foods plc (UK), BORGES AGRICULTURAL & INDUSTRIAL EDIBLE OILS, S.A.U. (Spain), and Louis Dreyfus Company (Netherlands) are building the market landscape. These companies are not only expanding their productive capacities but are also resorting to innovative solutions to meet rising demand. For example, Borges Agricultural & Industrial Edible Oils, S.A.U. inaugurated a USD 10.8 million seed oil extraction plant in Tárrega, Spain, at the beginning of December 2021. This plant is part of a USD 25 million investment package aimed at raising the capacity by 30% and upgrading efficiency in extraction with minimal environmental impacts. Such expansion marks an indicator of the region's commitment for increasing safe operational practices and optimization of production facilities. With continued investments in sustainable practices and technological advancements, the European edible oils market is poised for robust growth in the coming years.

The report profiles key players such as ADM (US), Bunge (US), Associated British Foods plc (UK), Wilmar International Ltd (Singapore), United Plantations Berhad (Malaysia), Sime Darby Berhad (Malaysia), BORGES AGRICULTURAL & INDUSTRIAL EDIBLE OILS, S.A.U. (Spain), Cargill Incorporated (US), GrainCorp (Australia), Adani Group (India), The Nisshin OilliO Group, Ltd. (Japan), Beidahuang Group (China), AJANTA SOYA LIMITED (India), Patanjali Foods Ltd. (India), and Louis Dreyfus Company (Netherlands).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=198285285

Browse Adjacent Reports @ Food and Beverage Market Research Reports & Consulting

Related Reports:

Fats & Oils Market by Type (Vegetable Oils and Fats), Source (Vegetables and Animals), Form (Liquid and Solid), Application (Food and Industrial), and Region (North America, Europe, Asia Pacific, South America, Rest of the World) - Global Forecast to 2029

Specialty Fats & Oils Market by Type (Specialty Fats & Specialty Oils), Application (Chocolate & Confectionery, Bakery Product, Processed Food, Animal Nutrition, Dairy Product, and Infant Nutrition), Form (Dry & Liquid), & Region - Global Forecast to 2026

About MarketsandMarkets^™

MarketsandMarkets^™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets^™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore^™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/edible-oils-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/edible-oils.asp

View original content:https://www.prnewswire.co.uk/news-releases/edible-oils-market-worth-306-92-billion-by-2029--exclusive-report-by-marketsandmarkets-302325878.html