(Food-Beverage-News.Com, June 08, 2018 ) Global cooking oil market was valued at US $ XX Mn in 2017 and expected to grow at 1.2% Compound Annual Growth Rate (CAGR) over 2017 to 2023.
Market Outline: Global Cooking Oil Market Cooking oil is the animal, plant, or synthetic fat used in the baking, frying, and other types of cooking. These are made up of saturated, monosaturated, and polysaturated fatty acids. Polysaturated and monosaturated fats lower the cholesterol level in body, while saturated fats increase cholesterol levels. Cooking oil is also used as flavoring purpose, food preparation, salad dressings, and bread dips among others. Most commonly used cooking oils are soybean oil, palm oil, canola oil, vegetable oil, corn oil, and peanut oil among others.
Market Dynamics: Global Cooking Oil Market Increase in the cooking oils consumption in food services and household sector is a key factor driving the global cooking oil market. Moreover, rise in population, increase in the production of oilseeds such as sunflower, ground nut, and palm seeds, change in food habits, rise in per capita income, and increase in the R&D for innovation of newer products, and increase in the preference for processed foods are anticipated to upsurge the revenue of global cooking oil market. However, change in food trends due to rise in health awareness, stringent regulations for the manufacturing of cooking oil, and high cost of these products may restrain the growth of global cooking oil market over the forecast years.
Market Scope: Global Cooking Oil Market Global cooking oil market is segmented based on product type, source, and distribution channel Based on the product type, the market is segmented into the following: Vegetable and Seed Oils Sunflower Oil Soybean Palm Oil Ground Nut Oil Canola Oil Others Spreadable Oils and Fats Margarine Butter Cooking Fats Olive Oil Others Based on source, market is segmented into the following: Animal Plant Based on the distribution channel, the market is segmented into the following: Super markets & Hyper Markets Online Stores Departmental Stores Others
Regional Analysis: Global Cooking Oil Market Geographically, global cooking oil market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America cooking oil market is rising due to increase in the demand for processed feed, technological advancements in cooking oil processing in the region. Europe cooking oil market is growing at a significant CAGR owing to increase in the production of cholesterol-free and low calorie cooking oils, change in the food habits, and rise in disposable income are expected to promote the growth of market in the region. Asia Pacific cooking oil market is poised to grow at significant rate due to increase in the population majorly in China and India, rise in the production of oilseed crops, and increase in the number cooking oil processing industries in the Asia-Pacific region.
Competition Assessment: Global Cooking Oil Market Some of the players in the global cooking oil market include: Cargill Inc. (U.S.) Unilever PLC (Netherlands) Savola Group (Saudi Arabia) Archer Daniels Midland (U.S.) Wilmar International Limited (Singapore) Associated British Foods plc (U.K) United Plantations Berhad (Malaysia) Conagra Brands, Inc. (U.S.) Notable Market Developments: Global Cooking Oil Market In October 2017, Cargill Inc. expanded its food retailing business in India including edible oil brands
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