According to a market report, published by Sheer Analytics and Insights, The global cooking oil market was valued at $190.3 billion in 2021 and it is expected to reach $320.3 billion at a CAGR of 4.7% between 2022 and 2032. Cooking oil is very useful as it is widely used by many people across the globe. It is usually used in frying, baking, food preparation, and flavoring. These oils are made from various kinds of fatty acids. Additionally, cooking oils are obtained from trees such as palm, canola, sunflower, soybean, avocado, and others. These oils give health benefits and are widely used across global cooking applications. This cooking oil market is driven by increasing demand for organic and unsaturated healthier products. Among many cooking oils, avocado oils are most used by people who are conscious about their health. Demand for canola oil is also increasing due to its rising usage among a wide number of people in several nations. At present days, multiple companies are focusing on producing new healthy cooking oils for their customers. Therefore, these major factors are expected to drive the growth of the cooking oil market during the forecast period from 2022 to 2032.
Cooking oil has monounsaturated fats that contribute to good cholesterol levels and also reduce the risk of heart and cardiovascular diseases. There are several cooking oils such as olive oil, canola oil, sunflower oil, hazelnut oil, and almond oil. These cooking oils are known for being high in monounsaturated fats. Additionally, these cooking oils also have omega-3 and omega-6 acids. Hence, due to these benefits, cooking oils are increasing in demand among a large number of consumers, which is expected to fuel the growth of the cooking oils market across the globe over the upcoming years.
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Moreover, the global cooking oil industries are projected to witness a huge growth opportunity due to the rising trends of processed food and changing food habits. Furthermore, increasing urban working culture which has a fast-moving lifestyle is estimated to lead to the growth of the market due to the heavy requirements for packaged foods and preparing meals. Moreover, edible oil for processed foods is also estimated to lead the market due to its rising demand across the globe. At present days, a lot of people becoming health conscious after the pandemic situation of COVID-19. Hence, all these major factors are anticipated to drive the growth of the market during the forecast period from 2022 to 2032.
A few years ago, Mahindra and Mahindra, an Indian company, launched edible oil namely NuPro. This is a virgin mustard oil. In 2021, India has launched an 11,000 crore edible oil mission in the cooking oil eco system. A new cooking oil product has been launched to boost the global sunflower oil market globally. Moreover, Hindustan Unilever launched Dalda which is essentially vanaspati or hydrogenated vegetable oil. A couple of years ago, Amul entered the edible oils business with the launch of the Janmay Brand in Gujarat to provide remunerative prices to oilseed farmers. Repurpose used cooking oil project launched in Perambalur district. Therefore, launches of these various types of cooking oils are expected to drive the growth of the global cooking oil market during the forecast period from 2022 to 2032.
According to the study, key players dominating the global cooking oil market are Ajinomoto (Japan), Adani Group (India), ADM (U.S), Bunge Limited (U.S), ConAgra Brands (U.S), COFCO Group (China), Cargill Inc (U.S), CJ Group (South Korea), Deoleo (Spain), Fuji Oil Co. Ltd (Japan), GrainCorp (Australia), IFFCO Group (UAE), Kaneka Corporation (Japan), Lannen Tehtaat (Finaland), Mazola Oils (U.S), Marico (India), Mitsui Group (Japan), Olam Group Limited (U.S), Ottogi (South Korea), SVMA Agro Products Pvt Ltd (India), Sime Dardy Plantation (Malaysia), Wittington Investments (U.K), Wilmar International (Singapore), among others.
The Global Cooking Oil Market Has Been Segmented Into:
The Global Cooking Oil Market – by Product Type:
- Soy oil
- Palm Oil
- Sunflower Oil
- Corn Oil
- Peanut Oil
- Olive Oil
- Canola Oil
- And Others
The Global Cooking Oils Market – by End-User Type:
- Food and Beverages
- Personal Care and Cosmetics
- Household
- Food Service Center
- Food Processing
- Others
The Global Cooking Oil Market – by Regions:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- U.K.
- France
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- India
- China
- Japan
- Australia
- Rest of Asia Pacific
- LAMEA
- Middle East
- Saudi Arabia
- UAE
- Others
- Latin America
- Brazil
- Chile
- Others
- Africa
- South Africa
- Egypt
- Others
Browse the full report at https://www.sheeranalyticsandinsights.com/market-report-research/cooking-oils-market-21
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