세계 식물유 시장 규모는 2억 5,120만 톤으로 추정되며 2031년에는 3억 2,330만 톤에 달할 것으로 예상되며 2024-2031년 예측 기간 동안 연평균 3.2%의 성장률을 보일 것으로 예상됩니다.
세계 식물유 시장은 주로 세계 식품 서비스 산업의 확장과 바이오연료 생산에서 식물유의 사용 확대에 힘입어 큰 폭의 성장세를 보이고 있습니다. 이러한 성장은 혁신적인 제품을 도입하려는 세계 시장 진입자들의 적극적인 노력으로 인해 지속될 것으로 예상됩니다. 식품 용도가 식물유 시장의 상당 부분을 차지하는 반면, 비식용 및 산업용 부문은 더 빠른 성장을 보일 것으로 예상됩니다. 이러한 가속화는 바이오디젤 산업으로 인해 식용 이외의 식물유의 다양한 용도를 강조하고 있습니다. 시장이 진화함에 따라 소비자 선호도 변화, 기술 발전, 지속가능성 노력과 같은 요인들이 상호 작용하여 예측 기간 동안 식물유 산업의 궤도를 더욱 형성할 것으로 예상됩니다.
아시아태평양에서는 중국이 식물유 소비와 생산에서 가장 큰 점유율을 차지하고 있습니다. 생산량이 많음에도 불구하고 소비량이 생산량보다 많기 때문에 수출보다 수입이 더 많습니다. 또한 중국은 국내 수요를 충족시키기 위해 여분의 기름을 수입하여 아시아 총 생산량의 절반 이상을 차지합니다. 또한 말레이시아와 태국은 아시아 최대 석유 생산국 중 하나이며, 인도는 미국, 중국에 이어 세계 3위의 석유 소비국입니다. 아시아태평양은 채소 산업에서 생산 점유율을 독점하고 있습니다. 팜유는 가장 많이 생산되는 기름으로, 대부분 말레이시아와 인도네시아에서 생산됩니다. 인도네시아에서는 바이오연료용을 중심으로 국내 팜유 사용량이 지속적으로 증가하고 있어 팜유가 전 세계 식물유 가격을 압박하고 있습니다. 이와 더불어 2023년 11월에는 팜유 수입이 많아 인도의 팜유 수입이 11월에 22%, 12월에 13% 증가하였습니다.
강화 식물유에 대한 높은 수요는 주로 영양학적 이점을 추구하는 건강 지향적인 소비자의 증가에 기인합니다. 이러한 추세는 영양 부족을 해결하기 위한 적극적인 접근 방식을 옹호하는 식생활 지침 및 건강 캠페인과 일치합니다. 이러한 수요 증가에 따라 업계는 전략적으로 기술 혁신에 중점을 두고 있습니다. 각 업체들은 건강 지향적인 시장에 대응하기 위해 강화된 식물유의 개발과 보급에 적극적으로 나서고 있습니다. 이러한 변화는 소비자 선호도를 반영하는 동시에 진화하는 건강 및 웰빙 트렌드에 발맞춰 사람들의 전반적인 웰빙에 기여하고자 하는 업계의 노력을 보여줍니다.
식물유 산업은 COVID-19 팬데믹으로 인해 봉쇄 기간 동안 집에서 요리하는 사람들이 증가함에 따라 수요가 급증하는 큰 도전에 직면했습니다. 또한 이 부문은 노동력 부족, 운송 중단, 세계 공급망 문제로 인해 생산과 유통에 영향을 미쳤습니다. 이러한 문제들은 가격 변동으로 이어져 시장에 불확실성을 가져왔습니다. 동시에 건강에 대한 관심이 높아지면서 팬데믹은 소비자의 선호도가 건강한 기름으로 바뀌는 계기가 되었습니다. 이러한 변화는 시장 역학에 영향을 미쳐 건강 지향적 선택의 가격 변동을 일으켰습니다. 이 위기는 물류 장애물 속에서 진화하는 소비자 행동에 적응하기 위해 노력하는 업계의 고군분투를 부각시켰습니다.
식물유 시장은 식물유이 필수 비타민을 풍부하게 함유하고 있기 때문에 성장할 것으로 예상됩니다. 이러한 긍정적인 전망은 식품 산업과 비식품 산업 모두에서 식물유이 광범위하게 사용되고 있기 때문입니다. 정부의 지원 정책과 노력, 그리고 지속가능한 비지니스 관행을 채택하는 제조업체들이 시장의 성장 궤도를 형성할 것으로 예상됩니다. 또한, 다양한 산업에서 식물유의 사용 증가는 낙관적인 전망에 더욱 힘을 실어주고 있습니다. 필수 영양소를 함유한 다용도 제품인 식물유는 성장하는 시장 수요를 충족시킬 수 있는 위치에 있으며, 진화하는 세계 경제 환경에서 주축이 되고 있습니다.
이 보고서는 세계 식물유 시장을 조사 분석하여 시장 규모와 예측, 시장 역학, 주요 기업 상황과 전망 등을 제공합니다.
Global vegetable oil market size was estimated to be 251.2 million tonnes, which is expected to reach USD 323.3 million tonnes in 2031, with a CAGR of 3.2% for the forecast period between 2024 and 2031. Vegetable oil refers to a plant derived lipid extracted from various seeds, fruits or nuts, serving into a culinary and industrial segment. Vegetable oil is commonly used oil including soybean, canola, olive and sunflower oil. In the culinary segment, vegetable oil serves as a cooking medium, adding flavor and texture to a wide array of dishes. Additionally, it also prevents in salad dressing and marinades.
Beyond the kitchen, vegetable oil has its application in industrial segment owing to biodiesel production, lubrication, and also as a component in cosmetic and pharmaceutical industry. The versatility of vegetable oil extends its nutritional benefits, containing unsaturated fats that also contribute to heart health. Furthermore, it has been demonstrated that eating foods high in monounsaturated fats, such as almond oil, canola oil, sunflower oil, hazelnut oil, and olive oil, raises good cholesterol levels and lowers the risk of heart and cardiovascular diseases. Additionally, it also contains vitamin E which acts as an antioxidant.
In 2022, Foreign Agriculture Service of USDA stated that Canada has emerged as a prominent import market for vegetable oils (excluding soybean), with a substantial export value of USD 373.73 million. This highlights the nation's significant demand for vegetable oil, showcasing their integral role in both culinary and industrial applications. The diverse uses of vegetable oils, from cooking to various industrial processes, contribute to their growing market presence in Canada, reflecting a combination of economic, dietary, and industrial factors driving the consumption of vegetable oil.
Global vegetable oil market is witnessing significant growth, primarily driven by the expanding foodservice industry worldwide and the increasing utilization of vegetable oils in biofuel production. This growth is forecasted to continue due to the determined efforts of global market participants to introduce innovative products. While food applications constitute a substantial portion of the vegetable oil market, the non-food, industrial segment is anticipated to experience a faster growth. This acceleration is attributed to the biodiesel industry, emphasizing the versatile applications of vegetable oils beyond culinary uses. As the market evolves, the interplay of factors such as changing consumer preferences, technological advancements, and sustainability initiatives will further shape the trajectory of the vegetable oil industry during the forecast period.
For instance, in July 2022, Eni has launched the world's first integrated project for vegetable oil production in Kenya, marking a significant step in Africa's inclusion in the vertical bio-refinery supply chain. With an initial capacity of 15,000 tons, the oilseed collection and pressing plant (agri-hub) in Makueni started production with the goal of producing 2,500 tons by 2022. The project aligns with Eni's sustainability goals, contributing to carbon neutrality by 2050. Notably, the initiative engages 25,000 local farmers, providing income opportunities and prioritizing social development owing to 200 people per day at the construction centre.
In Asia-Pacific, China holds the largest share of vegetable oil consumption, as well as production. Despite the high production volume, consumption exceeds the production volume, leading to higher import volumes relative to export volumes. Furthermore, China imports extra oil to meet domestic demand, making up over half of Asia's total production. Furthermore, Malaysia and Thailand are also among the largest oil producers in Asia and India is the third-largest oil-consuming country in the world, after the United States and China. Asia-Pacific dominates the production share in the vegetable industry. Palm oil is the most produced oil, and it is mostly produced in Malaysia and Indonesia. Additionally, because Indonesia continues to use more palm oil domestically, particularly for biofuels, palm oil has put higher pressure on the price of vegetable oil globally. In addition to this, in November 2023, high imports of palm oil increased Indian imports for palm oil by 22% in November and 13% in December.
The heightened demand for stimulated vegetable oil is primarily attributed to the increasing number of health-conscious consumers seeking enhanced nutritional benefits. The trend aligns with dietary guidelines and public health campaigns advocating a proactive approach to address nutritional deficiencies. In response to the growing demand, the industry has strategically emphasized innovation. Companies are actively developing and promoting fortified vegetable oils to cater to a market that is becoming increasingly health conscious. The shift reflects consumer preferences and highlights the industry's commitment to align with evolving health and wellness trends, thereby contributing to the population's overall well-being.
For instance, USAID Advancing Food Fortification Opportunities to Reinforce Diets (AFFORD) project was started in 2022 in the view of economically and nutritionally vulnerable population groups, especially women and children who lack essential nutrients, like vitamin A, iron, folic acid, zinc, and iodine, in their diets poses a significant global health risk. The fortification of vitamins and minerals into vegetable oils is expected to grow the market globally.
The vegetable oil industry confronted substantial challenges amid the COVID-19 pandemic, marked by a surge in demand, as more people were cooking at home during lockdowns. Also, the sector struggled with labour shortages, transportation disruptions, and global supply chain issues, impacting production and distribution. These challenges resulted in price fluctuations, introducing uncertainties in the market. Simultaneously, the pandemic catalyzed a shift in consumer preferences towards healthier oils, driven by heightened health concerns. The change influenced market dynamics, causing price fluctuations for these health-conscious options. The crisis underscored the industry's struggle to adapt to evolving consumer behaviour amid logistical hurdles.
Vegetable oil market is anticipated to grow due to its rich content of essential vitamins. The positive outlook stems from the widespread uses of vegetable oil in both the food and non-food industries. Supportive government policies and initiatives, and manufacturers adopting sustainable business practices, are expected to shape the market's growth trajectory. Additionally, increasing vegetable oil applications across diverse industries further contribute to the optimistic outlook. As a versatile product with essential nutrients, vegetable oil is positioned to meet the demands of a growing market, making it a key player in the evolving global economic landscape.
For instance, in November 2021, Cargill Incorporated made a strategic move by investing USD 35 million to upgrade and acquire an edible oil refinery in Nellore, India. This significant investment allowed Cargill to enhance its existing supply chain, effectively meeting the growing demands of its customers. The upgrade aimed at increasing the facility's production capacity, positioning Cargill to capitalize on the expanding market for edible oils. By strengthening its operations in Nellore, Cargill tried to solidify its position as a key player in the global agribusiness landscape.
All segments will be provided for all regions and countries covered:
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.