Plant-Based Oils Market Opportunities and Growth Challenges by 2032

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Rising consumer awareness of the health advantages of using plant-based oils, and rise in vegan and vegetarian populations.

According to Reports and Data's latest report, the global size for plant-based oils market was USD 50.43 billion in 2022 and is expected to experience a revenue compound annual growth rate (CAGR) of 6% over the forecast period.

 

Growing consumer interest in plant-based oils is due to the increasing prevalence of health issues such as obesity, high cholesterol levels, and cardiovascular disease. Plant-based oils are thought to be healthier because they contain less saturated fat than animal-based oils, which promotes heart health and reduces the risk of chronic diseases. Additionally, plant-based oils are versatile in baking and cooking, making them a popular choice for both home cooks and professional chefs.

 

Furthermore, as more individuals switch to plant-based diets in response to growing awareness of the negative environmental impact of animal agriculture, demand for plant-based oils is increasing. Animal-based oils require more resources and have a greater carbon footprint than plant-based oils. Plant-based oils are perceived to be more environmentally sustainable since they require fewer resources and have a smaller negative impact on the environment. The market for plant-based oils is predicted to expand due to changing consumer preferences for high-quality, all-natural, and organic products, as well as rising disposable income.

 

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Top Profiled Companies:

  • Unilever
  • Cargill, Inc.
  • Archer Daniels Midland Company
  • Bunge Limited
  • Wilmar International Limited
  • Conagra Brands
  • Associated British Foods plc
  • Ruchi Soya Industries Ltd.
  • J-Oil Mills, Inc.
  • Adani Wilmar Limited
  • Bio-Oil Limited
  • CHS Inc.
  • AAK AB
  • Sunora Foods Inc.

Drivers of Plant-Based Oils Market

  • Health and Wellness Trends: Growing consumer awareness about health and wellness has led to increased demand for healthier cooking and dietary options. Plant-based oils are often perceived as healthier alternatives to animal-based fats and oils due to their lower saturated fat content and potential health benefits.
  • Rise in Vegan and Vegetarian Lifestyles: The rise of vegan and vegetarian diets, driven by concerns about animal welfare, environmental impact, and health benefits, has fueled the demand for plant-based oils as alternatives to animal-derived fats like butter and lard.
  • Functional Properties: Many plant-based oils are rich in nutrients, antioxidants, and omega-3 fatty acids, which are associated with various health benefits, including cardiovascular health, brain function, and anti-inflammatory effects. This has led to the increased use of oils like olive oil, flaxseed oil, and avocado oil for their functional properties.

Key Regional Markets Covered in the Report:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)

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Further market segmentation

Source Type Outlook:

  • Olive
  • Coconut
  • Palm
  • Soybean
  • Canola
  • Others

Application Outlook:

  • Food Beverages
  • Cosmetics Personal Care
  • Pharmaceuticals
  • Others

Key Takeaways of the Global Plant-Based Oils Market Report:

  • A comprehensive overview of the global Plant-Based Oils industry.
  • Accurate market projections in terms of market size, share, and volume.
  • Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
  • Deep-dive analysis of the upcoming market trends.
  • Qualitative and quantitative analyses of the global Plant-Based Oils market.
  • Elaborate study of the leading regional markets in the global Plant-Based Oils market.

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