[Latest] Global Edible Oil Market Size/Share Worth USD 362.80 Billion by 2034 at a 4.06% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

Austin, TX, USA, May 08, 2025 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Edible Oil Market Size, Trends and Insights By Product Type (Palm Oil, Soybean oil, Sunflower Oil, Rapeseed Oil, Others), By Packaging Type (Pouches, Jar, Cans, Bottles, Others), By End-use Analysis (Domestic, Industrial, Food Service), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034“ in its research database.

“According to the latest research study, the demand of global Edible Oil Market size & share was valued at approximately USD 245.48 Billion in 2024 and is expected to reach USD 253.67 Billion in 2025 and is expected to reach a value of around USD 362.80 Billion by 2034, at a compound annual growth rate (CAGR) of about 4.06% during the forecast period 2025 to 2034.”

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Edible Oil Market Overview

Global edible oil market trends shift at a rapid rate as consumers increasingly move toward healthier, sustainable, and premium oil varieties. Leading players are broadening their portfolios to include organic, non-GMO, and fortified edible oils to address changing consumer preferences.

In Southeast Asia, corporations like Wilmar International and Sime Darby Berhad are ramping up production of sustainable palm oil driven by stricter global regulations and a growing concern with environmental issues. In Europe, companies like Associated British Foods plc are investing considerably in producing specialty oils that comply with the clean-label and health-oriented trends.

North American market leaders ADM and Bunge are leveraging strategic partnerships and leading-edge refining technology to bring traceability, quality, and innovation to the product. It is all in response to an expanded global move toward transparency, health, and sustainability in the edible oil industry that is being catalyzed by public policy and private investment.

Edible Oil Market Growth Factors and Dynamics

• Growing World Population, Growing Food Demand: The world population is also growing increasingly, especially in regions like Asia and Africa. Such growth automatically increases the demand for staple foods such as edible oils that are used daily for cooking. Urbanization and improved incomes are transforming diets to more processed foods and diverse cuisines, which tend to need higher edible oil consumption. For example, in February 2023, Cargill spent USD 0.035 billion increasing its edible oil business in South India by acquiring and modernizing a facility in Nellore, Andhra Pradesh. It rolled out Gemini Pureit, a highly rated sunflower oil brand, in four southern states to address increasing demand in a market that accounts for two-thirds of India’s sunflower oil consumption but remains underpenetrated. This is a significant strategic move to increase Cargill’s in-country presence and supply both retail and institutional customers.

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• Growing Health Consciousness toward Vegetable Oil Advantages: The customer is becoming increasingly health-conscious and, as such, more positive towards low-saturated-fat and favorable fatty acid-rich oils such as olive oil, sunflower oil, and canola oil. This shift has turned the direction of manufacturing and promotion towards healthier edible oil types. For example, in January 2024, Cargill was the first global edible oils supplier to completely satisfy the World Health Organization’s (WHO) best practice requirements for the elimination of industrially produced trans-fatty acids (iTFAs) across its entire global portfolio. This achievement is the culmination of decades of investment and innovation, with all Cargill fats and oils containing no more than 2 grams of iTFA per 100 grams of product, even where iTFA legislation is not in place. Cargill’s leadership contributes to public health by reducing trans fats that cause heart disease and encourages other industry players to work towards eliminating iTFAs from their products.

• Advances in Technology’s Oil Refining and Extraction: Technology has revolutionized the extraction and refining of edible oils. Growth like cold pressing, enzymatic extraction, and low-chemical refining provides nutritional value alongside increased yields and environmental sustainability. For example, in May 2021, ADM is investing around $0.35 billion to construct North Dakota’s first sole soybean crushing and refining plant in Spiritwood, with a processing capacity of 150,000 bushels per day, with an aim for food, feed, industrial, and renewable diesel markets. The plant, scheduled to open before the harvest in 2023, plans to benefit regional farmers and drive sustainable, low-carbon feedstocks. Further, ADM is adding refining and storage capacity at its Quincy, Illinois, plant with an investment of $0.25 billion to better address increasing demand for plant-based solutions by early 2022.

Report Scope

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