Global Vegetable Oils Market to Reach 288.2 Million Metric Tons by 2026
SAN FRANCISCO, May 19, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Vegetable Oils - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 18; Released: May 2021
Executive Engagements: 8581
Companies: 640– Players covered include AarhusKarlshamn (AAK AB); Aceites Borges Pont S.A.; ACH Food Companies, Inc.; Adani Wilmar Limited (AWL); Archer Daniels Midland Company; Avena Nordic Grain Oy; Avril Group; Bunge Limited; Bunge Loders Croklaan Group BV; Bunge North America, Inc.; C. Thywissen GmbH; Carapelli Firenze S.p.A.; Cargill Incorporated; COFCO Corporation; Corteva Agriscience; Deoleo; S.A.; Golden Agri-Resources Ltd.; IOI Group Berhad; J-Oil Mills; Inc.; Marico Limited; Mazola Oils; P. T. Musim Mas; PT Astra Agro Lestari Tbk; PT Smart Tbk; Richardson Oilseed Limited; Royal Smilde Foods; Sime Darby Plantation Sdn Bhd; Sovena Group; Sundrop Foods India Private Limited; The J. M. Smucker Company; The Nisshin OilliO Group; Ltd.; Ventura Foods, LLC; Wilmar International Limited and Others.
Coverage: All major geographies and key segments
Segments: Product Segment (Palm, Soybean, Canola, Sunflower & Safflower, Other Product Segments); Extraction Method (Mechanical, Hydrogenation, Other Extraction Methods); Application (Food, Industrial, Biofuel)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry
ABSTRACT-
Global Vegetable Oils Market to Reach 288.2 Million Metric Tons by 2026
Encompassing a wide range of commodities traded actively across the world, oilseeds constitute one of the most dynamic industries in agriculture. The oil produced after crushing the seeds is called vegetable oil, which is mainly used in culinary applications. 'Westernization of diets' which mandates more use of vegetable oils in cuisines, substituting the animal fats, had given a major thrust for the global oilseed industry over the years. Usage of oil for industrial applications is also growing significantly, noteworthy among them being the utilization for biofuel production. South America and the US dominate soybean production globally, while Indonesia and Malaysia are the leading exporters of oil palm. Amid the COVID-19 crisis, the global market for Vegetable Oils estimated at 212.8 Million Metric Tons in the year 2020, is projected to reach a revised size of 288.2 Million Metric Tons by 2026, growing at a CAGR of 5.1% over the analysis period. Palm Oil, one of the segments analyzed in the report, is projected to record a 6% CAGR and reach 107.6 Million Metric Tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Soybean Oil segment is readjusted to a revised 5.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at 17.6 Million Metric Tons in 2021, While China is Forecast to Reach 58.3 Million Metric Tons by 2026
The Vegetable Oils market in the U.S. is estimated at 17.6 Million Metric Tons in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of 58.3 Million Metric Tons by the year 2026 trailing a CAGR of 6.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR. Strong demand patterns have created tight supply situations in many parts of the world and this together with several other factors such as on and off weather difficulties among others have forced industry consolidation. The situation has resulted in significant increase in competition in the global market. Several large vegetable oil suppliers, especially in developed countries, in order to tighten their grip on raw material procurement, processing and distribution of vegetable oils, are resorting to vertical integration of businesses.
Canola Oil Segment to Reach 51.3 Million Metric Tons by 2026
Advancements in biotechnology have led to the creation of new plant breeding technologies, which have ensured the growth of high quality canola seeds genetically programmed to yield higher levels of oleic acid, and lower levels of linolenic content and saturated fats, all of which are key variables for health. The oil is additionally highly nutritious, and is low in the notorious saturated fats plaguing other vegetable oil types. Food manufacturers and restaurant chains are increasingly adopting healthier canola oil for cooking, and salad dressings. In the global Canola Oil segment, USA, Canada, Japan, China and Europe will drive the 4.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of 23.9 Million Metric Tons in the year 2020 will reach a projected size of 32.5 Million Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 15.9 Million Metric Tons by the year 2026, while Latin America will expand at a 6.5% CAGR through the analysis period. More
MarketGlass™ Platform
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today's busy business executive's intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.
Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android
About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
LINKS
Get Full Report Details
https://www.strategyr.com/market-report-vegetable-oils-forecasts-global-industry-analysts-inc.asp
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp
Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./
Follow Us on Twitter
https://twitter.com/marketbytes
Journalists & Media
[email protected]
SOURCE Global Industry Analysts, Inc.
Share this article