Edible Oil Market Will Increase Strongly Through 2024

Edible Oil Market Will Increase Strongly Through 2024

  • Submitted By: amyjames
  • Date Submitted: 05/23/2016 10:04 PM
  • Category: Business
  • Words: 845
  • Page: 4

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Edible oil can be defined as the oil prepared from vegetable and fruit, which are processed for edible purpose. Edible oil is used
in cooking number of dishes.
The edible oil market can be segmented into product type such as rapeseed palm oils, soybean, and sunflower among others.
The market can also be segmented geographically into North America, APAC, Europe and RoW regions.
The global demand for edible oil is expected to grow at a single digit increase in CAGR from 2013 to 2019. The palm oil is most
consumed edible oil in the world, and accounts for approximately 30 percent of total edible oil market.
The key driver of edible oil consumption is the consistent growth in fast food industry, restaurants and other finished food
product industry such as baked food among others. The consumption is increasing in Asia Pacific due to the increasing
population in India and China. China is one the major consumer of vegetable oil followed by Europe which has the second
position in terms of consumption. Moreover research and development by major manufacturers’ leads to oil production
containing low fat content and add extra nutrients. Preference of refined oil is also rising, health is the major concern and health
trend among consumers has forced manufacturer to produce oil such as rice bran oil. Rice bran oil is considered to be good for
health as it contains...

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