Vegetable oils are triglycerides that are derived from plant seeds or their parts. They have a wide variety of applications in the food and non-food sectors. The Global Vegetable Oils market is expected to cross 200 million metric tonnes by 2020. Major types of vegetable oils include sunflower oil, rapeseed oil, soybean oil, palm kernel oil, and palm oil.
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Factors such as the increase of vegetable oils application in fuel production, culinary, soaps and perfume formulations is expected to drive the global market over the forecast timeframe. The main factor that is expected to drive the growth of the vegetable oils market is the growing processed foods industry, particularly in emerging markets. Vegetable oils are major feedstock in bio lubricants production. It has been found that very high consumption of oxidized polysaturated fatty acids that are found in vegetable oils has increased the outcome of breast cancer in women.Also the polyunsaturated fatty acids present in corn oil can lead to inflammation of the cells leading to many digestive diseases. Such health issues related to the consumption of vegetable oil are a major restraint to the growth of the market.
On the basis of application, the vegetable oil market is segmented into three major segments i.e. Food, Non-food (industrial), and Biodiesel feed. The food applications segment occupies a major share in the consumption market.The Vegetable Oil market can be segmented on the basis of the product type into Palm oil, Soybean oil, Canola oil, Sunflower oil, rapeseed oil and other oils. Palm oil is accounted for the maximum market share during 2015 by holding nearly 32% of the market shares in the market. It is expected to continue its dominance until the end of 2020. The demand for palm oil is rising because of its richness in vitamins, antioxidants, and saturated fats that possess health benefits. Soybean oil also holds significant market shares accounting for 28% of the shares. On the basis of distribution channels the Vegetable Oil market can be segmented into Supermarkets and hypermarkets, Convenience stores and Food specialist retailers.
The hypermarkets and supermarkets segment accounted for the maximum market share during 2015 and will continue to dominate the global vegetable oil market during the forecast period.
Geographically, the Vegetable oil market is distributed over the regions of North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia-Pacific holds major market share in vegetable oil market followed by Europe which is the second largest consumer. The main reason for the growth of the market in Asia-Pacific region is due to huge demand from the food sector, rising population, changing living standards and increasing health conscious consumers.
The key players in the Vegetable Oil Market are Total S.A., BP, Shell,CHS, Cargill, Associated British Foods, Bunge and Wilmar. Some other prominent vendors in the market include ACH, Adams, Carapelli Firenze, Dow Agrosciences, ADM, Beidahuang, Savola, and Unilever.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
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