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Cooking Oil Market Worth $198.3 Billion by 2027 At A Growth Rate of 5.1% - IndustryARC

Cooking Oil Market

Market Research Reports, Business Consulting Services & Analytics

Healthier Vegetable Oils For Cooking Applications Owing to The Growing Favorable Policies, Which is Further Propelling The Growth Of The Cooking Oil Market.

HYDERABAD, TELANGANA, INDIA, September 22, 2022 / -- IndustryARC, in its latest report, predicts that The Cooking Oil Market size is estimated to reach $198.3 billion by 2026, growing at a CAGR of 5.1% during the forecast period 2021-2026. Cooking Oils are fats derived from plants and animals that are used in frying, flavoring, baking, and other cooking applications. The rise in the healthier product launches of soybean oil by the key players in developed nations are the factors that are set to drive the growth of the Cooking Oil Market for the period 2021-2026. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways :

1. Geographically, Asia-Pacific Cooking Oil Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the rise in the adoption of rapeseed oil in snack foods for its affordability and versatility.

2. The increase in the adoption of avocado oil to provide richness to baked products is driving the Bakery and Confectionery segment. However, the rise in the side effects associated with the overconsumption of cooking oils is one of the major factors that is said to reduce the growth of the Cooking Oil Market.

3. Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Cooking Oil Market report.

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Segmental Analysis :

1. The Cooking Oil Market based on the Product Type can be further segmented into Palm Oil, Rapeseed Oil, Sunflower Oil, Soybean Oil, Avocado Oil, and Others. The Palm Oil segment held the largest share in 2020 and is also estimated to be the fastest-growing segment with a CAGR of 6.2% over the period 2021-2026.

2. The Snack Foods segment is estimated to be the fastest-growing segment with a CAGR of 5.8% over the period 2021-2026. This growth is owing to the factors such as the rise in the adoption of convenience foods among young customers and the growing demand for rapeseed oil in snack foods for its affordability and versatility.

3. The rise in the demand for avocado oil in various bakery applications is driving the growth of the Cooking Oil Market. North America segment is estimated to be the fastest-growing segment over the period 2021-2026.

Competitive Landscape :

The top 5 players in the Cooking Oil Industry are -

1. Cargill

2. Archer Daniels Midland Company

3. Conagra Brands

4. Wilmar International Limited

5. Bunge Limited

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Related Reports :

A. Global Vegetable Oil Market

B. Mustard Oil Market

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