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  • edible oils market brief-palm and soy oils lead the way korea in malaysia
  • edible oils market brief-palm and soy oils lead the way korea in malaysia
  • edible oils market brief-palm and soy oils lead the way korea in malaysia
  • edible oils market brief-palm and soy oils lead the way korea in malaysia

Korea Republic

Browse Data & Analysis USDA Foreign Agricultural

FAO Trade and Markets Division Food Outlook May

POINTERS: Global Oils & Fats Dynamics and Its Impact

  • What is the global edible oils market?
  • The global edible oils market is witnessing high growth, led by increasing population, ever-increasing disposable incomes, and changing dietary patterns in the world. Food processing, industrial applications, and various forms of baking and cooking account for widespread applications in the market.
  • How big is the Edible Oils market in 2024?
  • The edible oils market is estimated at USD 250.78 billion in 2024 and is projected to reach USD 306.92 billion by 2029, at a CAGR of 4.1% from 2024 to 2029. The global edible oils market is witnessing high growth, led by increasing population, ever-increasing disposable incomes, and changing dietary patterns in the world.
  • What drives global edible oils market growth?
  • Global edible oils market growth is driven by rising health consciousness among consumers and inclination towards use of plant-based edible oils like olive, sunflower and peanut oils in food preparations. Consumers are increasingly preferring healthier oil options owing to rising obesity and cardiovascular issues.
  • Is Asia Pacific a leader in edible oils market?
  • These innovations clearly reflect the growing market in Asia Pacific, where consumer demand for premium and sustainable products further establishes the region as a leader in the global edible oils market. In September 2024, ADM (US) acquired Vandamme Hungaria Kft (Hungary).
  • How are economic changes affecting the Edible Oils market?
  • The recent economic changes with the Ukraine-Russia war are slowing down the growth of the edible oils market. Variations in the constant pricing of vegetable oils, coupled with the rising fertilizer prices, are hampering the growth of the edible oils market due to inadequacy in supply against the growing demand.
  • Who are the key players in the Edible Oils market?
  • The key players in the edible oils market include ADM (US), Bunge (US), Associated British Foods plc (UK), Wilmar International Ltd (Singapore), and United Plantations Berhad (Malaysia). The market competition is intense, with continuous R&D investments, mergers, acquisitions, and innovations in the edible oils market.