Aug 17, 2020 (SUPER MARKET RESEARCH via COMTEX) — The new report by Expert Market Research titled, ‘Global Vegetable Oil Market Size, Share, Price, Trends, Report and Forecast 2020-2025′, gives an in-depth analysis of the global vegetable oil market, assessing the market based on its segments like oil types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
- Historical Market Size (2019): 207.7 Million Tons
- Forecast CAGR (2020-2025): 3%
- Forecast Market Size (2025): 248 Million Tons
Vegetable oil finds its use across multiple industries. The increasing use of vegetable oil in food applications, especially in emerging countries is driving the market forward. The rise in consumption levels can be linked to the growing population, changing diets, and higher standards of living. Vegetable oil is being rapidly used in making biofuels in the fuel market, owing to increasing regulatory favourability towards unconventional fuel sources. It can be directly used in a diesel vehicle in either modified or unmodified form. Vegetable oils are finding their way into lubricants for industrial and transportation applications. Potential benefits of the product include resource renewability and biodegradability, as well as providing satisfactory performance. These factors are expected to support the growth of the industry in the coming years.
Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/vegetable-oil-market-report
Industry Definition and Major Segments
Vegetable oils are derived from seeds, nuts, and fruits, and are extensively used in the personal care and household sectors for cosmetics and food purposes. They are widely used in cooking and frying food. They are also found in processed food products such as margarine, non-dairy creamers, and ice-cream as an alternative to animal fats. Vegetable oils are also used to produce non-food products such as soaps, detergents, lubricants, greases, and candles. They are also witnessing increasing use in biofuels.
Based on types of oil, palm oil leads the market. The other segments are:
- Palm Kernel
The major application sectors of vegetable oil in the industry include:
- Food Industry
The leading regions for vegetable oil are:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The rise in per capita income and changing lifestyles are the key factors propelling the growth of the vegetable oil market. As developing countries are shifting towards unconventional fuel sources, vegetable oil has quickly made its way into the fuel industry. Indonesia and Malaysia are the major markets for vegetable oil. The countries are expected to witness a per annum growth of 1.8% and 1.4%, respectively, over the forecast period. They are also the leading exporters of vegetable oil. In fact, a significant portion of the vegetable oil produced by Indonesia and Malaysia is currently being exported. Due to significant economic progress and regulatory favourability towards biofuel, the market is expected to grow further in the coming years.
Key Market Players
The major players in the market are Bunge Limited (NYSE: BG), ADM (NYSE: ADM), Cargill, Incorporated (INDEXDJX: .DJI), Wilmar International Ltd. (SGX: F34), and Louis Dreyfus Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Note 2: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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