Global Cooking Oil Market: By Product Type (Vegetable and Seed Oils, Spreadable Oils and Fats, Cooking Fats, Olive Oil, Others), By Source (Animal and Plant), By Distribution Channel (Super Markets & Hyper Markets, Online Stores, Departmental Stores, and Others), and Geography - Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global cooking oil market was valued at US $ XX Mn in 2017 and expected to grow at 1.2% Compound Annual Growth Rate (CAGR) over 2017 to 2023.
Market Outline: Global Cooking Oil Market
Cooking oil is the animal, plant, or synthetic fat used in the baking, frying, and other types of cooking. These are made up of saturated, monosaturated, and polysaturated fatty acids. Polysaturated and monosaturated fats lower the cholesterol level in body, while saturated fats increase cholesterol levels. Cooking oil is also used as flavoring purpose, food preparation, salad dressings, and bread dips among others. Most commonly used cooking oils are soybean oil, palm oil, canola oil, vegetable oil, corn oil, and peanut oil among others.
Market Dynamics: Global Cooking Oil Market
Increase in the cooking oils consumption in food services and household sector is a key factor driving the global cooking oil market. Moreover, rise in population, increase in the production of oilseeds such as sunflower, ground nut, and palm seeds, change in food habits, rise in per capita income, and increase in the R&D for innovation of newer products, and increase in the preference for processed foods are anticipated to upsurge the revenue of global cooking oil market. However, change in food trends due to rise in health awareness, stringent regulations for the manufacturing of cooking oil, and high cost of these products may restrain the growth of global cooking oil market over the forecast years.
Geographically, global cooking oil market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America cooking oil market is rising due to increase in the demand for processed feed, technological advancements in cooking oil processing in the region. Europe cooking oil market is growing at a significant CAGR owing to increase in the production of cholesterol-free and low calorie cooking oils, change in the food habits, and rise in disposable income are expected to promote the growth of market in the region. Asia Pacific cooking oil market is poised to grow at significant rate due to increase in the population majorly in China and India, rise in the production of oilseed crops, and increase in the number cooking oil processing industries in the Asia-Pacific region.
Precision Business Insights is one of the leading market research and business consulting firm, which follow a holistic approach to solve needs of the clients. We adopt and implement proven research methodologies to achieve better results. We help our clients by providing actionable insights and strategies to make better decisions. We provide consulting, syndicated and customised market research services based on our client needs.
