Market Highlights:
Vegetable oils are extracted from several sources such as palm, sunflower, mustard and many more and is used mainly in culinary purposes. Vegetable oils are further used as a shortening agent to give pastry a crumbly texture, to improve texture and reduce the ingredients from sticking to each other in culinary applications. Vegetable oils are also used as a flavor enhancer such as in the case of olive and sesame oil which impart a distinctive flavor to the cooked product. Vegetable oil acts as a flavor base that carry the flavor of other ingredients. These benefits of vegetable oil in culinary uses are directly influencing consumer preference towards consumption of vegetable oil thereby, driving the global market growth.
The global Vegetable Oil Market Size has been divided, by packaging type, into cans, bottles, pouches, and others. The bottles segment is expected to dominate the global Vegetable Oil Market Size during the assessment period since bottles are available in several sizes, easy to carry, easy to store, and are cost-effective. The pouches segment is projected to record the highest CAGR as pouches offer ease of storage and usage and can be used as refill packs.
The global market for vegetable oil has also been classified, by distribution channel, into store-based and non-store based. The store-based segment has been further segregated into hypermarkets and supermarkets, convenience stores, specialty stores, and others. The store-based segment is expected to generate higher revenue, with the hypermarkets and supermarkets sub-segment being the largest due to strong vendor networks. The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements in the e-commerce industry and growing consumer preference for online retailing.
Key Players:
Some of the key players in the global Vegetable Oil Market Size are The Manischewitz Company (US), Conagra Brands, Inc. (US), Waitrose & Partners (UK), The J.M. Smucker Co. (US), IFFCO (UAE), Unico (Canada), Woolworths Group Limited (Australia), Edible Oils Ltd. (UK), Marico Limited (India), and Adani Wilmar Limited (India).
Segmentation:
The global Vegetable Oil Market Size has been segmented based on product type, packaging type, distribution channel, and region.
By product type, the global Vegetable Oil Market has been segregated into palm oil, soybean oil, canola oil, sunflower oil, peanut oil, olive oil, and others.
The global Vegetable Oil Market has been classified as packaging type into cans, bottles, pouches, and others.
On the basis of distribution channel, the global Vegetable Oil Market has been divided into store based and non-store based. The store-based segment has been further segregated into hypermarkets and supermarkets, convenience stores, and others.
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Regional Analysis:
The global Vegetable Oil Market Size has been segmented by North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate and continue to grow rapidly during the forecast period. Large rural population involved in agricultural practices and changing eating habits in the region are expected to fuel the Vegetable Oil Market in the region during the forecast period.
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