Global Vegetable Oil Market size is estimated to reach $3,700 million, growing at a CAGR of 6.1% - IndustryARC

Global Vegetable Oil Market size is estimated to reach $3,700 million by 2026, growing at a CAGR of 6.1% over 2021-2026.

HYDERABAD, TELANGANA, INDIA, September 26, 2022 /EINPresswire.com/ -- Global Vegetable Oil Market size is estimated to reach $3,700 million by 2026, growing at a CAGR of 6.1% over 2021-2026. Vegetable oils are extracted from various plant seeds such as palm, sunflower, mustard and many more. Vegetable oils are a mixture of triglycerides of fatty acids which are esters of glycerol and are chemically known as fat. The vegetable oil which is extracted from soybean seeds are widely used for cooking oils. In food Industry, the addition of oil in hydrogen is called hydrogenation and this helps to increase the shelf life of food. Growing consciousness about health among people and increasing application of vegetable oil in various industries are the major factors driving the growth of this market. Furthermore, increasing research and development activities in food and beverage industry and rising government initiatives is set to further enhance the overall market demand for Global Vegetable Oil Market for the period 2021-2026.

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Key takeaways:

This IndustryARC report on the Global Vegetable Oil market highlights the following areas -

1. Geographically, in 2020, North America dominated the Global Vegetable Oil Market owing to increasing accessibility of various number of food and beverage manufacturers, rising research and advancement in food industry and rising initiatives by the government.

2. Growing consciousness about health among people and increasing application of vegetable oil in various industries are likely to aid in the market growth of the Global Vegetable Oil.

3. Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Global Vegetable Oil Market report.

4. Rising concerns about the environment and high cost of production is set to create hurdles for the Global Vegetable Oil Market.

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Segmental Analysis:

1. Global Vegetable Oil Market based on Type can be further segmented into Palm Oil, Soyabean Oil, Rapeseed Oil, Sunflower Oil, Olive Oil, and Others. The Palm Oil segment is the major segment generating revenue in 2020. This is mainly owing to the increasing benefits of health and the limited price of palm oil.

2. Asia Pacific dominated the Vegetable Oil Market with a major share of 40% in 2020. This is owing to increasing accessibility of various number of food and beverage manufacturers, rising research and advancement in food industry and rising initiatives by the government.

3. Global Vegetable Oil Market based on Packaging Type can be further segmented into Cans, Bottles, Pouches, and Others. The Pouches segment registers for the highest Vegetable Oil market share in 2020. This is owing to storage and usage is easy and are widely used as packs contains refill that are rising the growth of this market.

Competitive landscape:

The top 5 players in the Global Vegetable Oil industry are:

1. The Manischewitz Company
2. Conagra Brands, Inc
3. Waitrose & Partners
4. The J.M. Smucker Co
5. IFFCO

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