Global Vegetable Oil Market: Vegetable oils are triglycerides extracted from seeds of rapeseed, soybean, corn, sunflower, safflower, etc. Vegetable oils are commonly used for preparation of processed food, salad dressing, mayo, and other conventional food products. There are various types of vegetable oils available in the market such as soybean oil, sesame oil, olive, coconut, sunflower oil, etc. Vegetable oils such as sunflower, almond, safflower are rich in vitamin E which is required for cell protection and development. Coconut oil helps to prevent hair loss, whereas peanut oil helps to maintain cholesterol levels, blood pressure, and heart health of an individual.
Rising demand for vegetable oil from various end use industries such as food, and biofuel industries is a key factor driving growth of the global vegetable oil market. In addition, increasing use of vegetable oil in various areas such as fuel production, pharmaceuticals, and lubricants is a major factor expected to fuel growth to the global vegetable oil market over the forecast period. Also, increasing adoption of vegetable oil in production of shampoos, perfumes, etc. is another major factor expected to boost growth of the global vegetable oil market over the forecast period.
However, vegetable oil such as rapeseed oil contains high amount of the toxic fatty acids, which is harmful to human body and high consumption of vegetable oil such as sunflower, soybean oil causes breast cancer and digestive diseases. These are key factors restraining growth of the global vegetable oil market. Additionally, high consumption of vegetable oil leads to obesity, and adulteration in vegetable oils can cause various harmful effects on human health which are major factors expected to hamper growth of the global vegetable oil market over the forecast period.
The global vegetable oil market report has been segmented on the basis of type, method, application, and region. On the basis of region, the global vegetable oil market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America is a dominant player in the global vegetable oil market and accounts for highest market share in terms of revenue as compared to that of markets in other regions. This can be attributed to rising demand of vegetable oils from food and biofuel industries in countries in the region. The market in Europe accounts for second-highest revenue share contribution in the global vegetable oil market followed by markets in Latin America, Asia Pacific, and Middle East & Africa respectively. The market in Asia Pacific is projected to have fastest growth in terms of revenue, owing to increasing consumption of vegetable oil in countries in the region.
Prominent players in the global vegetable oil market include, ACH Food Companies Inc., Total S.A., Archer Daniels Midland Co., Bunge North America Inc., Richardson Oilseed Ltd., Carapelli Firenzi S.P.A, CHS Inc., Fuji Oil Company, Savola Group, and Cargill Agricola S.A.