Sarasota, FL — 04/26/2018 — Global Cooking Oil Market: Overview
Fats and cooking oils are made up of monosaturated fatty acids, polysaturated, and saturated fats.
Vegetable oils are majorly taken from plant parts or seeds or their parts and are known to have a wide range of food as well as non-food applications. Major kinds of vegetable oils comprise palm oil, rapeseed oil, sunflower oil, palm kernel oil, and soybean oil. The usage of palm oil in various applications and cooking in the food business is gaining demand and popularity.
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Global Cooking Oil Market: Growth Factors
The cooking oil market has been experiencing a major shift in venture patterns. It is expected that in the past few years, the investment/ventures in this market has almost doubled due to major key players recognizing its scope. The rising populace and higher inclination of customers to spend majorly on edible/cooking oils are the most important factors fuelling the growth of the global cooking oil market.
On the other hand, the high price of raw materials needed for the mining of cooking oils is the most important restraining aspect for any new market player for this market. The requirement of local manufacturing of cooking oils owing to unfavorable climatic circumstance and less rainfall is considered to be the major aspect, restraining the scope of the global cooking oil market.
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Global Cooking Oil Market: Segmentation
The global cooking oil market is classified based on extraction method, type, application, and geography. Based on the type, the global cooking oil market is categorized into rapeseed (canola) oil, sunflower oil, palm kernel oil, soybean oil, minor vegetable oil, and palm oil. Palm oil division is likely to hold the leading market and is anticipated to experience a steady expansion rate in the coming future. This is accredited to its lesser cost amongst all the variation of vegetable oil and its constant demand and popularity particularly from the food division for utilization in frying fat, cooking oil, margarine, and bakery fat. Its increasing application as the feedstock in the biofuel sector is also projected to be the major factor for its constant steady development. Based on extraction method, the global cooking oil market is divided into solvent extraction, mechanical extraction, sparging, and hydrogenation. Mechanical extraction sector is expected to hold the leading share and is anticipated to develop at a steady pace in the coming years. Hydrogenation is projected to be the most rapidly growing division in this category. Based on application, the global cooking oil market is classified into biodiesel, industrial, and food. Food application division is further sub-divided into frozen & processed foods, salads & cooking oils, frying & baking processes, margarine & other spreads, fatty ingredients, and others. Industrial application is sub-classified into lubricants, paints, pharmaceuticals, cosmetics, and others.
Global Cooking Oil Market: Regional Analysis
From a regional point of view, the cooking oil market is classified into Europe, North America, Latin America, Middle East & Africa, and the Asia Pacific. The Asia Pacific is likely to be the most dominant market and is projected to maintain its control and dominance in the years to come due to the increased convenience particularly in food division due to urbanization. As a result, it increases the demand and popularity for kernel and palm oil. North America is likely to be followed by the Asia Pacific due to the big size of the food as well as food service sector which fuels the demand and popularity for the cooking oil market.
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Global Cooking Oil Market: Competitive Players
Some of the most important market players in the global cooking oil market are ACH Foods Company Inc., Archer Daniels Midland Company, Bunge North America Inc., Cargill Agricola S.A., ConAgra Foods Inc., Chinatex Corporation, Carapelli Firenze S.P.A, J-Oil Mills Inc., Richardson Oilseed Ltd., and CHS Inc., among others.
Global Cooking Oil Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa
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