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The global cooking oil market size was US$ 154,911.2 million in 2021. The global cooking oil market is forecast to grow to US$ 250,881.4 million by 2030 by registering a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2030.
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While most cooking oils are liquefiable at room temperature, saturated fat-containing oils like coconut oil and palm kernel oil remain solid even at a very low temperature. The majority of oilseeds used for frying, baking, and other types of cookery are used to obtain cooking oil.
COVID-19 Impact Analysis
The COVID-19 pandemic had a significant influence on the cooking oil sector. The main problem faced by the key companies was a lack of manpower because people were forced to stay at home. Additionally, a large workforce was needed to manufacture, process, and deliver the cooking oil. Since, pandemic forced people to stay at home, it created a shortage of workforce, which ultimately affected the market.
Additionally, buyers of bulk cooking oil, including cafes, restaurants, and hotels, saw a decline in demand. Additionally, food processing businesses closed their doors due to a shortage of laborers, which affected the demand for cooking oil. Hotels and restaurants, which use a bulk of cooking oil, had to close their operations for more than a year. As a result, it significantly impeded the demand for cooking oil.
Factors Influencing the Market
Due to growth in public awareness of the benefits of chemical-free products, customers worldwide are adopting chemical-free or organic items. The fact that organic cooking oils are produced by a variety of animals, plants, and other species using regular metabolic processes is also catching consumers’ attention. Moreover, the growing processed food industry is expected to positively affect the market in the coming years.
The growing global population is expected to bring lucrative growth opportunities for the cooking oil market. Apart from that, the rising number of hotels and restaurants and increasing interest in tours is expected to benefit the cooking oil market in the coming years.
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Regional Analysis
During the forecast period, Asia Pacific is forecast to dominate the cooking oil market, followed by North America. The Asia-Pacific region has long been regarded as the market leader for cooking oil worldwide. Additionally, China has the greatest population in the world, with 1.4 billion people. As a result, it will bring untapped growth opportunities for the market.
North America will also record potential growth due to the rising consumption of processed food and fast food in the region. Apart from that, the growing popularity of American cuisine is expected to benefit the cooking oil market during the study period.
Competitors in the Market
• Archer-Daniels-Midland Company
• Bunge Limited
• Louis Drayfus Company
• Cargill
• Wilmar International.
• American Vegetable Oil
• Fuji Oil
• Indo Agri
• J-Oils
• Richardsons International
• Other Prominent Players
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Market Segmentation
The global cooking oil market segmentation focuses on Product, End-User, Distribution Channel, and Region.
By Product Type Outlook
• Palm oil
• Soy oil
• Sunflower oil
• Peanut oil
• Olive oil
• Rapeseed oil
• Others
By End-Users Outlook
• Residential
• Food services
• Food processor
By Distribution Channel Outlook
• Supermarket/Hypermarket
• Independent retail stores
• Business to Business
• Online sales channels
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By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
 Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
 Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
What is the goal of the report?
1.The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
2.During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
3.The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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Updated : 2022-08-24 22:05 GMT+08:00
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