The High Demand Of Cooking Oil Available In Different Variants Increasing The Cooking Oil Market Share And Trends All Over The World
Cooking Oil Market is the animal, plant, or synthetic fat used in the baking, frying, and other types of cooking. These are made up of saturated, monosaturated, and polysaturated fatty acids. Polysaturated and monosaturated fats lower the cholesterol level in body, while saturated fats increase cholesterol levels. Cooking oil is also used as flavoring purpose, food preparation, salad dressings, and bread dips among others. Most commonly used cooking oils are soybean oil, palm oil, canola oil, vegetable oil, corn oil, and peanut oil among others. Depending on oils produced their respective market such as vegetable oil market, sunflower oil market, canola oil market, corn oil market, etc. will be growing due to the high demand from the market.
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Factors such as increase in the cooking oils consumption in food services and household sector are driving the global vegetable oil market. Moreover, rise in population, increase in the production of oilseeds such as sunflower, ground nut, and palm seeds, change in food habits, rise in per capita income, and increase in the R&D for innovation of newer products, and increase in the preference for processed foods are anticipated to upsurge the revenue of global seeds oils market. However, change in food trends due to rise in health awareness, stringent regulations for the manufacturing of cooking oil, and high cost of these products may restrain the growth of global vegetable oil market.
The global cooking oil market is divided into following categories-
1. Product type
• Vegetable and Seed Oils
o Sunflower Oil
o Palm Oil
o Ground Nut Oil
o Canola Oil
• Spreadable Oils and Fats
o Cooking Fats
o Olive Oil
• Super markets & Hyper Markets
• Online Stores
• Departmental Stores
And lastly, on the basis of geographical regions, the global seed oils market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America cooking oil market is rising due to increase in the demand for processed feed, technological advancements in cooking oil processing in the region. Europe seed oils market is growing at a significant rate owing to increase in the production of cholesterol-free and low calorie cooking oils, change in the food habits, and rise in disposable income are expected to promote the growth of market in the region. Asia Pacific vegetable oil market is poised to grow at significant rate due to increase in the population majorly in China and India, rise in the production of oilseed crops, and increase in the number cooking oil processing industries in the Asia-Pacific region.
Some of the key players in the global cooking oil market include Cargill Inc. (U.S.), Unilever PLC (Netherlands), Savola Group (Saudi Arabia), Archer Daniels Midland (U.S.), Wilmar International Limited (Singapore), Associated British Foods plc (U.K), United Plantations Berhad (Malaysia), Conagra Brands, Inc. (U.S.). Some of the notable market development include Cargill Inc. expanded its food retailing business in India including edible oil brands in 2017.
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