Dallas, Texas, May 28, 2021 (GLOBE NEWSWIRE) – The ‘Global Vegetable Oils Market Size 2019, By Source (Palm Oil, Soybean Oil, Sunflower Oil, Rapeseed Oil, Olive Oil, Walnut Oil Coconut Oil, Cottonseed Oil and Others), by Application (Food, Industry and Animal Feed), by Region and Forecast 2020 to 2026 ”, provides a detailed view of historical, present and forecast market estimates.
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The global vegetable oils market is growing at a CAGR of 5.1% during the forecast period of 2020 to 2026. Sunflower, soybean, olive, palm, coconut, rapeseed, cotton and other plants are used to make vegetable oils. Several manufacturers have achieved backward integration and cultivate raw materials accordingly. The two most popular methods for extracting vegetable oils are the hydraulic press or screw-based and solvent-based processes. Historically, the hydraulic mechanism has been in use for a long time. To achieve optimum efficiency and reduce production costs, manufacturers are focusing more on the oil refining process. Enzymatic degumming is preferred by manufacturers to conventional water or chemical degumming. The enzymes attack the phospholipid impurities in the oil while leaving the majority of the oil alone.
Factors such as the rapid growth of the food processing industry and the use of alternative fuels such as biodiesel around the world are expected to drive demand growth. Vegetable oils are mainly used in the production of confectionery, bakery, cheese and other food products. The main growth driver is the steady growth of the food processing industry, which uses vegetable oils for frying. Additionally, the growing demand for healthier oils like olive oil due to the increasing prevalence of cardiovascular disease is increasing the growth of the target industry. Vegetable oils are also used to create biodiesel and oleochemicals.
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Vegetable oils are expected to gain popularity as the demand for alternative and renewable fuels increases around the world. Vegetable oils are widely consumed in China, USA, India, UK, Germany, Japan and other countries. The presence of key players in these countries, along with the growing demand for vegetable oils in food processing industries, are helping to fuel the target industry in these countries. In addition, the major players are focusing on creating new products to gain competitive advantage across the world, which is a key factor in the global expansion of the market.
Adroit Market Research report on Global Vegetable Oils Market gives a holistic view of the market from 2016 to 2026 which includes factors such as market drivers, restraints, opportunities, and challenges. The market has been studied for historical years from 2016 to 2018 with the base year of the estimate being 2019 and the forecast from 2020 to 2026. The report covers the current status and future traits of the market globally and national. In addition, the study also assesses the market based on Porter’s Five Forces Analysis and positions major players based on their product portfolio, geographic footprint, strategic initiatives, and overall revenue. The major players in the global vegetable oils market have been studied in detail.
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The global vegetable oils market can be segmented on the basis of source and application segment. Palm oil, rapeseed oil, cottonseed oil, soybean oil, olive oil, sunflower oil, coconut oil and others are key segments of vegetable oils. In addition, depending on the application, the global industry is separated into food, industrial products and animal feed. The food applications segment is expected to dominate the global vegetable oils market in the near future in terms of revenue. The growth of the food applications segment is due to the increase in the food processing industry in emerging economies. Vegetable oils have a huge demand in the production of dairy products, confectionery, bakery, as well as processed foods, including margarine, salad dressings, cookies and mayonnaise. All these aspects are driving the growth of the food segment. These factors in turn are expected to fuel the growth of the vegetable oil industry over the next 10 years.
Geographically, Asia-Pacific has dominated the global vegetable oil market. The growth is due to the increasing adoption of vegetable oils in various end-use industries including food, animal feed in Asian countries, especially China, India and Japan. In addition, North America is expected to register remarkable growth soon, as the restaurant industry is growing steadily in the countries, especially the United States of the region. In addition, the increasing production of biodiesel, coupled with the presence of leading players in the region, are among the main factors driving the growth of the vegetable oil industry in the Europe region. The major players in the global vegetable oils market are ACH Food Companies, Inc. Westmill Foods, Wilmar International Ltd, Riceland Foods, FUJI OIL ASIA PTE. LTD. CHS Inc. Cargill, Incorporated, Ag Processing Inc a cooperative, ADM, Bunge Limited, Carapelli Firenze SpA and Olam International. Major players in the target industry are developing various organic and inorganic strategies to gain a strong position in the global market.
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Main points from the table of contents:
- Research methodology
- Market outlook
- Vegetable Oil Market by Source, 2016-2026 (USD Billion)
- Vegetable Oils Market by Application, 2016-2026 (USD Billion)
- Vegetable Oil Market by Region 2016-2026 (USD Billion)
- Competitive landscape
- Company Profiles
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