Edible oil is a liquid that is extracted from seeds, plants, and vegetables. It contains fatty acid, phospholipids, and other anti-antioxidants. The edible oil is used for human consumption and by food processing industry. Edible oil has low cholesterol, fats and calories that attract the health conscious consumers across the globe. Increasing crop yields, oil production, in developing economies are the major factors for the significant growth of edible oil in the world market. Increasing popularity of olive oil and soybean oil will drive the global market for edible oil during the forecast period.
COVID-19 Scenario Analysis:
- COVID-19 hit the manufacturing stage of the air edible oil industry as the factories were closed globally and the scale of production got affected.
- The impact of COVID-19 hit massive sales drops in the edible oil industry. During the lockdown, closure of the supermarket and departmental store cause a decline in sales and revenue of the industry. Due to lockdown, disruptions in the distributional channel system from the warehouse to retail.
- Edible oil is an essential product for daily life, increasing demand for household consumption during lockdown time. The major online players try to provide prominent service essential products in the pandemic outbreak area.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
- Edible oil consumption has increased in developing nations due to an increase in fried-food practices and increasing disposable income of people. Moreover, producers of edible oil focusing on adopting advanced processing strategies to offer healthier and reasonable oil.
- The global market for edible oil is anticipated to see a considerable development due to rising fame of fried-food sectors in fast-food joints and increase the demand from pollution to fried-food will major trend to success edible industry during the forecast period.
- Increasing demand for fatty-acid free oils. Development in the use of healthier integrands and natural essence will result in market growth. Some other factors driving the market are enhancement of retail sector growth, developing economies, and increased the production crop-yields.
- Increasing awareness of the health benefits of people and less consumption of fat-free oils has major impact on the edible oil market. Raising interest in olive oil and canola oil from the food industry will drive the edible oil market coming year.
Asia-Pacific region is the highest market share in terms of revenue and market growth. Asia-pacific is emerging as a growing market for edible oil due to increasing the fried-food practices and increasing food-chain joints are major growth of the edible oil market in the region.
Development of processing and packaging system in the edible oil industry
The edible oil industry is highly competitive and innovative in terms of product processing, quality, and cost-effectiveness of the product. The manufacture has been focusing on recent trends and growth of the market to adopt the marketing strategies to compete with other players in the market.
Recently Adani Wilmar adopted improvisation in the packaging system of edible oil. Introduced square shape bottles replacing traditional oval oil containers, it helps them to the efficiency of shelf-space in supermarkets and retail sector fit the product in less space and gain consumer attraction in the market.
Key Benefits of the Report:
- This study presents the analytical depiction of the edible oil market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global edible oil market share.
- The current market is quantitatively analyzed to highlight the global Edible Oil market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global edible oil market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in Edible oil Market Research Report:
- What are the leading market players active in the edible oil market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Edible Oil Market Report Highlights
By End User
By Sales Channel
Key Market Players
Cargill, Ach Food Companies Inc., Archer Daniels Midland Company, Emami, Beidahuang Group, Ruchi Soya, Agro Tech Foods, Adani Group, Bunge Alimentos Sa, Marico