The edible oils market consists of various vegetable and seed-based oils that are consumed directly or used in cooking and food preparations. Cooking oils such as soybean oil, sunflower oil, peanut oil, rice bran oil, and canola oil are widely used globally due to their high smoke points and neutral flavours. These oils are rich in vitamins, minerals, and antioxidants that help maintain heart health. Olive oil and coconut oil are popular choices for salads and other cold dishes owing to their distinct tastes. The demand for high-quality branded oils is rising as people pay more attention to the sources and production processes of edible oils due to increasing health awareness. The Global edible oils market is estimated to be valued at US$ 143.29 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period of 2024 To 2031.

Key Takeaways

Key players operating in the edible oils market are AJF Cigars, Boutique Blends Cigars, Fenn Thompson & Co. Royal Cigar Works, Gurkha Cigar Group, Imperial Brands, Joya De Nicaragua, S.A., Scandinavian Tobacco Group, Swedish Match AB, and Swisher.

The growing health-conscious demographics, rising incomes, and shift towards consuming plant-based and organic products have been fueling the demand for edible oils globally. Much importance is given to the quality and composition of cooking oils used.

Major Edible Oils Market Demand producing regions like South America, Southeast Asia, Europe, and North America are expanding their production capacities and global supply networks to cater to the burgeoning demand. New markets in Africa and the Middle East are opening up lucrative opportunities for key edible oil players.

Market Drivers

Changing lifestyles and busy schedules have increased the demand for packaged and ready-to-cook foods, which is the major driver for the edible oils market. Processed food products are highly dependent on edible oils for taste, texture and longer shelf life. The increasing processed food industry consequently drives the edible oils market.

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