Cooking Oil Market Growth, Size, Trends, Revenue, Price, Scope, Challenges and Future Competition
Cooking Oil Market Size- By Type, By Distribution Channel, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Dec-2022 | Report ID: FOOD2227 | Pages: 1 - 230 | Formats*: |
| Category : Food & Beverages | |||
Cooking Oil Market Introduction and Overview
According to SPER Market Research, the Global Cooking Oil Market is estimated to reach USD 328.54 billion by 2033 with a CAGR of 5.92%.
The report includes an in-depth analysis of the Global Cooking Oil Market, including market size and trends, product mix, distribution channels, and supplier analysis. Cooking oil is a man-made fat that is utilized in cooking, baking, food preparation, and enhancing the flavor of dishes. It consists of different combinations of fatty acids and is derived from various sources such as palm, canola, sunflower, soybean, and avocado. These oils offer numerous health advantages and are extensively employed in the food industry. The market growth is primarily fueled by the growing demand for organic and healthier options with unsaturated fats.
- NMEOOP: In August 2021, the Indian government has introduced a new initiative called the National Edible Oil Mission Oil Palm (NMEOOP) to boost palm oil production and enhance agricultural income. By promoting domestic palm oil cultivation, the plan aims to reduce the country's dependence on imports and provide farmers with opportunities to capitalize on the lucrative market.
- November 2021: Cargill completed the acquisition of an edible oil refinery situated in Nellore, Andhra Pradesh. By investing in the acquisition and upgrading of the facility, Cargill aims to substantially increase its production capacity and market presence in the southern region of India. This strategic move will enhance Cargill's existing supply chain and enable the company to meet the rising customer demand for edible oil products in the area.
Market Opportunities and Challenges
For market participants, the global cooking oil market offers both opportunities and difficulties. The rising consumer preference for healthier cooking oils is one of the major potential. The demand for cooking oils with advantages such reduced cholesterol level, heart-healthy characteristics, and high nutritional value is rising as people become more health-conscious. Such items have the potential to help businesses gain a sizable market share. The rising disposable incomes and rising living standards of consumers in emerging economies represent another possibility. As customers' purchasing power increases, they are more inclined to spend money on high-end cooking oil goods, such as organic and specialty oils. As a result of this trend, businesses may now provide a wider range of customer demands.
The market for cooking oil, however, also confronts difficulties. The problem of adulteration and fake goods is one of the main obstacles. The tampering of cooking oils with less expensive substitutes endangers consumer health and erodes their faith in the marketplace. To address this issue, tougher rules and quality control procedures must be put in place to guarantee the integrity and purity of cooking oils. The rising level of market competitiveness presents another difficulty. Due to the large number of competitors providing a variety of cooking oil options, businesses must stand out through product innovation, quality, and efficient marketing techniques. To stand out in the fiercely competitive industry, developing brand loyalty and creating a solid distribution network are essential.
Market Competitive Landscape
Key players dominate the market due to their strategic decisions, market share dominance, and strong product portfolios. Cargill Inc., Bunge Limited, and Archer Daniels Midland Company are among the leading players in the industry. To accommodate the rising demand from diverse industries, these businesses are investing in new oilseed crushing plants. To meet the expanding demands of various nations and areas, they place a high priority on R&D and product innovation. As an example, Fuji Oil Holdings recently announced the establishment of its fourth R&D center, which will be located in Europe. This move reflects their commitment to globalize their R&D structure and foster innovation in the oil and fat industry and other business segments.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Distribution Channel, By End User |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America, Others |
| Companies Covered | Archer Daniels Midland Company, Bunge Limited., Cargill, George Weston Foods Limited, Kaneka Corporation, Louis Dreyfus Company, Nutiva, Olam International Limited, SIFCA SA, Sime Darby Plantation, others |
COVID-19 Impact on Global Cooking Oil Market
The COVID-19 pandemic had a moderate impact on the cooking oil market, leading to slow growth. The market suffered from disruptions in distribution networks due to complete lockdown conditions, making it challenging for edible oil refiners to sell their products. Additionally, the closure of restaurants, hotels, and roadside food establishments resulted in decreased demand for cooking oil globally. Despite these challenges, several companies have implemented strategic plans to aid in the recovery process and support society during this chaotic situation.
Key Target Audience:
- Consumers
- Food and Beverage Industry Professionals
- Food Manufacturers
- Health-conscious Consumers
- Restaurants and Food Service Industry
- Retailers and Grocers
- Wholesale Distributors
- Others
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Key Topics Covered in the Report:
- Global Cooking Oil Market Size (FY’2023-FY’2033)
- Overview of Global Cooking Oil Market
- Segmentation of Global Cooking Oil Market By Type (Olive Oil, Palm Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflower Oil, Others)
- Segmentation of Global Cooking Oil Market By Distribution Channel (Business to Business, Hypermarket/Supermarket, Online Sale Channel, Retail Stores)
- Segmentation of Global Cooking Oil Market By End User (Food Processing, Food Services, Residential, Others)
- Statistical Snap of Global Cooking Oil Market
- Expansion Analysis of Global Cooking Oil Market
- Problems and Obstacles in Global Cooking Oil Market
- Competitive Landscape in the Global Cooking Oil Market
- Impact of COVID-19 and Demonetization on Global Cooking Oil Market
- Details on Current Investment in Global Cooking Oil Market
- Competitive Analysis of Global Cooking Oil Market
- Prominent Market Players in the Global Cooking Oil Market
- SWOT Analysis of Global Cooking Oil Market
- Global Cooking Oil Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Cooking Oil Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Cooking Oil Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Cooking Oil Market
7. Global Cooking Oil Market, By Type (USD Million)
7.1. Global Cooking Oil Market Value Share and Forecast, By Type, 2023-20337.2. Olive Oil7.3. Palm Oil7.4. Peanut Oil7.5. Rapeseed Oil7.6. Soybean Oil7.7. Sunflower Oil7.8. Others
8. Global Cooking Oil Market, By Distribution Channel (USD Million)
8.1. Global Cooking Oil Market Value Share and Forecast, By Distribution Channel, 2023-20338.2. Business to Business8.3. Hypermarket/Supermarket8.4. Online Sale Channel8.5. Retail Stores
9. Global Cooking Oil Market, By End User (USD Million)
9.1. Global Cooking Oil Market Value Share and Forecast, By End User, 2023-20339.2. Food Processing9.3. Food Services9.4. Residential9.5. Others
10. Global Cooking Oil Market Forecast, 2019-2033 (USD Million)
10.1. Global Cooking Oil Market Size and Market Share
11. Global Cooking Oil Market, By Type, 2019-2033 (USD Million)
11.1. Global Cooking Oil Market Size and Market Share By Type (2019-2026)11.2. Global Cooking Oil Market Size and Market Share By Type (2027-2033)
12. Global Cooking Oil Market, By Distribution Channel, 2019-2033 (USD Million)
12.1. Global Cooking Oil Market Size and Market Share By Distribution Channel (2019-2026)12.2. Global Cooking Oil Market Size and Market Share By Distribution Channel (2027-2033)
13. Global Cooking Oil Market, By End User, 2019-2033 (USD Million)
13.1. Global Cooking Oil Market Size and Market Share By End User (2019-2026)13.2. Global Cooking Oil Market Size and Market Share By End User (2027-2033)
14. Global Cooking Oil Market, By Region, 2019-2033 (USD Million)
14.1. Global Cooking Oil Market Size and Market Share By Region (2019-2026)14.2. Global Cooking Oil Market Size and Market Share By Region (2027-2033)14.3. Asia-Pacific14.3.1. Australia14.3.2. China14.3.3. India14.3.4. Japan14.3.5. South Korea14.3.6. Rest of Asia-Pacific14.4. Europe14.4.1. France14.4.2. Germany14.4.3. Italy14.4.4. Spain14.4.5. United Kingdom14.4.6. Rest of Europe14.5. Middle East and Africa14.5.1. Kingdom of Saudi Arabia14.5.2. United Arab Emirates14.5.3. Rest of Middle East & Africa14.6. North America14.6.1. Canada14.6.2. Mexico14.6.3. United States14.7. Latin America14.7.1. Argentina14.7.2. Brazil14.7.3. Rest of Latin America
15. Company Profile
15.1. Archer Daniels Midland Company15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments15.2. Bunge Limited15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments15.3. Cargill15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments15.4. George Weston Foods Limited15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments15.5. Kaneka Corporation15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments15.6. Louis Dreyfus Company15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments15.7. Nutiva15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments15.8. Olam International Limited15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments15.9. SIFCA SA15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments15.10. Sime Darby Plantation15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
The Cooking Oil Market is projected to reach USD 328.54 billion by 2033, growing at a CAGR of 5.92% during the forecast period.
The Cooking Oil Market grew in market size from 2023. The Market is expected to reach USD 328.54 billion by 2033, at a CAGR of 5.92% during the forecast period.
The Cooking Oil Market CAGR of 5.92% during the forecast period.
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The Cooking Oil Market size is USD 328.54 billion from 2023 to 2033.
The Cooking Oil Market segment is Covered By Type, By Distribution Channel, By End User
The North America region is anticipated to have the highest market share in the Cooking Oil Market.
The key players in the market include Companies Covered Archer Daniels Midland Company, Bunge Limited., Cargill, George Weston Foods Limited, Kaneka Corporation, Louis Dreyfus Company, Nutiva, Olam International Limited, SIFCA SA, Sime Darby Plantation, others
The discrepancy between cooking oil output and incoming demand is expected to be a growth-restricting factor for the industry.
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