Global Vegetable Oil Market Growing at a CAGR of 4.6% During 2008-2015
According to IMARC Group, the global vegetable oil market reached a consumption volume of 171 Million Tons in 2015. Several factors such as growing population, improving living standards, changing dietary habits, growing demand for palm oil, growing food sector, demand for feedstock for biodiesel production and growth in emerging markets are currently driving the demand for vegetable oils.
A recently published report by IMARC Group titled “Vegetable Oil (Palm Oil, Canola Oil, Coconut Oil and Soybean Oil) Market – Industry Trends, Manufacturing Process, Plant Setup, Machinery, Raw Materials, Cost and Revenue” provides a detailed analysis of the global vegetable oil market along with the market size, trends and future growth prospects. Vegetable oils are natural oils extracted from the nuts, seeds and fruits of the plants. A rich source of beneficial nutrients, vegetable oils finds myriad of applications in food and non-food industries. In the food industry, they are used as cooking oils and as constituents to margarine, shortening, non-dairy creamers and ice cream. They also serve as a good alternative for people who avoid using oils loaded with animal-based fats. Other uses of vegetable oils include in cosmetics, pharmaceuticals and in the manufacture of soaps, detergents, etc. Lately, vegetable oils have come to be recognized as a potential feedstock for the production of biodiesel and as an alternative to mineral oils for use in power stations. According to the report, the global vegetable oil market reached a consumption volume of 171 Million Tons in 2015, growing at a CAGR of 4.6% during 2008-2015.
Read full report at http://www.imarcgroup.com/vegetable-oil-processing-plant
The report examines numerous growth inducing factors driving the global vegetable oil market. The market is gaining impetus from growing health consciousness of consumers due to which there is a strong demand for healthy, organic and natural (unprocessed/ unrefined) vegetable oils. Other factors catalysing the growth of this market include population growth, improving living standards, rising demand from developing markets, changing dietary habits, growth in the food sector and their increasing demand for biodiesel production.
The report has segmented the market on the basis of types and applications. Currently, palm oil dominates the market accounting for around one-third of the total vegetable oil consumption volumes. Palm oil is followed by soybean oil, canola oil, sunflower seed oil and coconut oil. Based on applications, the majority of the vegetable oils find applications in the food segment followed by the industrial and biofuel segment. The report further provides a market share analysis of the key regions. Currently, Indonesia represents the largest producer of vegetable oils followed by China, Malaysia and the European Union. On the other hand, China is currently the largest consumer of vegetable oils accounting for nearly one-fifth of the total global vegetable oil consumption followed by the European Union, India, United States and Indonesia. The study has also analysed the competitive landscape of the market with some of the key players being Cargil, ADM, Louis Dreyfus, Bunge and Wilmar.
This report provides a detailed technical insight on setting up and operating a vegetable oil processing plant. It covers all the prerequisites of the vegetable oil industry and provides a comprehensive analysis of the market, industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the vegetable oil industry in any manner.
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