Cooking Oil Market Witnessing Growth with a Radical Shift towards Sustainability and Longevity
Increasing consumption of cooking oil in households for various food applications is driving the growth of the cooking oil market. The increasing number of hotels and restaurants is propelling the sales of cooking oil. Cooking oil is widely used in bakeries and food processing industries such as confectionery and snacks. The consumption of cooking oil is increasing in food services and retail as well.
Different types of cooking oils are available such as soy oil, palm oil, olive oil, canola oil, coconut oil, sesame oil, corn oil, and sunflower oil. Consumers can choose cooking oil as per their requirement. Cooking oil is easily available at hypermarkets, discount stores, convenience stores, departmental stores, and supermarkets. Customers don’t need to travel a long distance to buy cooking oil. All types of cooking oils are easily available at all stores.
Increasing internet retailing helping to increase of cooking oil sales. Although the revenue from online retailing is low as compared to traditional retailing channels, in the future, it is forecasted that integrated internet retailing and logistics will grow rapidly. Revenue of cooking oil from online retailing will increase due to integrated internet retailing. However, some improvements need to be made in internet retailing to ensure a superior buying experience for consumers, along with a wider range of online payment systems.
Increasing Health Concerns Spurring the Demand for ‘Organic’ Cooking Oil
Individuals of all age groups are suffering from high cholesterol, blood pressure, and diabetes. Individuals are suffering from these diseases due to their eating habits and lifestyle. The consumption of junk food such as burgers, French fries, and pizza, is increasing. However, individuals are now focusing on their health to avoid these diseases and disorders. They are concentrating on improving their lifestyle by joining the gym, regular walking, and practicing yoga. They are following a particularly healthy diet after consulting doctors and dieticians to remain fit.
The awareness about a healthy lifestyle and wholesome food is increasing, which is driving the organic market. There is a consumer shift towards healthy home-cooked food, which is driving the demand for cooking oil, and in turn accelerating the demand for organic and natural cooking oils. Due to the additives in cooking oil, multiple consumers suffer from allergies and other side effects. Therefore, consumers prefer organic and natural cooking oil to avoid any side effects.
Increasing Demand and Usage of High Quality Cooking Oil
High quality cooking oil includes a high amount of vitamin E, mono-unsaturated and poly-unsaturated fatty acids (MUFA’s and PUFA’s), and Omega 3. Further, they have a high smoking point, which means they can retain their nutritional content at higher temperatures.
Companies are investing a huge amount in the research and development of cooking oil. Most companies are trying to manufacture innovative and unique cooking oils with high quality. Companies are focusing on adapting latest technologies to maintain the high quality of cooking oil. Consumers choose brands, which are best for them on the basis of quality and fulfilment of their requirements. Consumers are ready to pay a high amount for high-quality cooking oil as cooking oil is beneficial for their health, and provides a sufficient amount of vitamins such as vitamin E.
Increasing demand for cooking oil and a rising number of small-, medium-, and large-scale industries all over the world are the reasons for the extensive competition in the cooking oil market. To nurture their position in the cooking oil market, companies are producing exclusive & uncommon products with enticing benefits.
Manufacturer Focusing on Markets with Low Per Capita Cooking Oil Consumption
Manufacturers in the market are shifting their focus on markets where low per capita consumption of cooking oil is observed. Focusing on these markets would support the growth of products in terms of sales and market share. The number of individuals that know the benefits of cooking oil is increasing in developing countries. Manufacturers emphasizing on the untapped markets to gain significant ground in the cooking oil market. Players could target developing countries in Asia Pacific, Middle East & Africa, and Latin America regions to capitalize on this opportunity by providing different flavors of cooking oil.
XploreMR has published a new report on the global cooking oil market, providing forecast for the period, 2019 to 2027. The report enumerates valuable insights to enable readers to make winning business decisions for the future growth of their businesses. The report sheds light on significant factors that are constantly shaping the growth of the cooking oil market, untapped opportunities for manufacturers, trends and developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting the growth of the global cooking oil market are also incorporated in the report.
The cooking oil market has been bifurcated on the basis of product type, nature, category, certification type, packaging type, sales channel, and region. Each of these segments are analyzed to provide readers a holistic view of the industry.
Hypermarkets & Supermarkets
Other Sales Channels
Asia Pacific Excluding Japan
Middle East & Africa
Key Questions Answered
- What will be the cooking oil market size in 2027?
- Which region will remain most lucrative for the cooking oil market growth?
- Which source is most preferred for cooking oil? What was its market size in 2019?
- What is the market share comparison between different sources in the cooking oil market?
- What will be the growth rate of processed cooking oil in 2021?
Key indicators associated with the cooking oil market have been evaluated thoroughly in the report. The study highlights vital market dynamics such as key drivers, challenges, and trends, along with potential opportunities in the cooking oil market. A comprehensive study on the supply chain of the cooking oil market has also been encompassed in the report.
Other key aspects laid down in the cooking oil market include cost breakdown, pricing strategy of the leading market players, and raw product cost breakdown. Furthermore, forecast factors and forecast scenario of the cooking oil market have been encompassed in the report to understand future prospects of the market.
A comprehensive evaluation and forecast on the cooking oil market have been provided on the basis of product type, nature, category, certification type, packaging type, sales channel, and region. The report also renders imperative numbers such as historical and forecast size of various segments of the cooking oil market.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments has been delivered in the report. The cooking oil market has been analyzed at both regional and country levels.
The cooking oil market report provides an exhaustive evaluation on the structure of the cooking oil market, in tandem with a dashboard view of all the leading companies profiled in the report. A company share analysis on the cooking oil market players has also been presented in the report, apart from the footprint matrix on the profiled market players. The report depicts the presence of cooking oil manufacturers by leveraging an intensity map.
Key companies profiled in the cooking oil market report include
- Archer Daniels Midland Company
- Bunge Ltd.
- Cargill, Inc.
- Ruchi Soya Industries Limited
- ConAgra Brands, Inc.
- Richardson Oilseed Ltd.
- J-Oil Mills, Inc.
- Adani Wilmar Ltd.
- Carapelli Firenze S.p.A.
- Sime Darby Barhad
A realistic methodology along with a holistic approach makes the base for the incisive insights provided in the cooking oil market for the study evaluation period. The XMR report comprises of detailed information on the growth prospects of the cooking oil industry along with riveting insights into the forecast assessment of the market.
Extensive primary and secondary research have been employed to garner incisive insights into the forecast study of the cooking oil market. The report on cooking oil market has further gone through a cross-validation by the in-house professionals to make the cooking oil market report one-of-its-kind with the highest credibility.
Global Market Study on Cooking Oil (2019-2027) – Preference for ‘Organic’ PrevailsBuy Now
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