Increasing health consciousness among the rising population across regions has increased the demand for edible oil in the last few years. Vegetable oil that is low in fat, cholesterol, and calories is likely to gain traction because of increasing health awareness among individuals. In addition to that, increasing crop yields, significant development in retail network, oil production, and developing economies are some of the noticeable factors helping the growth of the global edible oil market.
The increasing demand for trans-fat free soybean oil, canola oil, and olive oil are expected to drive the global edible oil market during the forecast period. Additionally, significant rise in restaurants and fast food joints and substantial growth in numerous finished food products industries have also created high growth opportunities for the global edible oil market. In coming years, growing research and development activities that will reduce the oil fat and add more nutrients such as rice bran oil, is projected to boost the demand or edible oil further.
Growing Demand in Retail Sector to Boost the Edible Oil Market
As compared to food service industry and food processor, retail sector is likely to be the largest end user of edible oil. With changing customer preference and increasing standard of living, more and more customers are demanding healthy edible oil. In addition to that, growing consumption of premium oils that includes mustard oil, soybean oil, olive oil and many others are expected to benefit the market at a large extent. Growing demand for edible oil in Asia Pacific, mainly in India and China as a reason for rising income and growing health consciousness will result in expanding the edible oil market. Manufacturers are also making efforts in advancing their marketing techniques and investing in mergers and acquisition to establish themselves in regions with high demand.
The global edible oil market is anticipated to witness a substantial growth owing to increasing popularity of unrefined, unprocessed, healthy, and organic oil. In the coming years, vegetable oils with low cholesterol, fat, and calories are likely to gain high response due to growing health awareness among people across the world. In addition, major improvement in retail network, increasing crop yields, oil production, and growing economies are some of the prominent factors supporting the growth of the global edible oil market. Furthermore, growing popularity of canola oil, trans-fat free soybean oil, and emerging preference for olive oil will drive the global market for edible oil.
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The report offers a comprehensive overview of the global edible oil market covering all the major factors such drivers, restraints and trends influencing the nature of the market. It also features profiles of the leading players present in the market along with details such as company overview, business strategies, trends adopted, and recent developments in the respective field.