The global plant-based oils market size was valued at USD 41.58 billion in 2020 and is expected to reach USD 92.87 billion by 2028 according to a new study by Polaris Market Research. The report “Plant-Based Oils Market Share, Size, Trends, Industry Analysis Report, By Source (Sunflower Oil, Palm Oil, Cottonseed Oil, Soybean Oil, Rapeseed Oil, Coconut Oil, Others); By Application (Food and Beverages, Animal Feed, Biofuel, Industrial, Others); By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for plant-based oils is expected to rising during the forecast period owing to increasing obesity and related disorders, growing health consciousness, and greater awareness regarding benefits associated with plant-based oils. Increasing disposable income of consumers, greater consumption of convenience food, and increasing application in animal feed have significantly increased the demand for plant-based oils. These oils are incorporated in animal feed owing to their nutritional and biological health benefits for livestock. However, the plant-based oils industry has been impacted by the COVID-19 outbreak due to disruption of the supply chain, lack of raw materials, operational challenges, transportation delays, travel restrictions.
Asia-Pacific dominated the global industry in 2020 and is expected to maintain its dominance over the forecast period. Improving living standards, increasing use in animal feed, and supportive trade regulations support industry growth in this region. Increasing population coupled with rising awareness regarding biofuel supports the development in this region. Leading global players are expanding their presence in developing nations of South Korea, India, Japan, and China to tap the growth opportunities offered by these countries.
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Companies Mentioned in the Report are:
ACH Food Companies
Ag Processing Inc
Archer Daniels Midland Company
Darby Plantation Berhad
FUJI OIL ASIA PTE. LTD
Kuala Lumpur Kepong Berhad
PT Astra Agro Lestari Tbk
Sime Olam International Limited
Wilmar International Limited
*Note: Additional companies can be included on request
Drivers and Restraints Affecting the Market:
The report reviews new technologies focusing on innovative business models, competitive strategic history, a range of value-added products, and growth examination that can drive global Plant-Based Oils market growth are also included in the report. It further summarizes the accomplishments and other major developments in the industry.
The global Plant-Based Oils market is segmented as per the source, application, and region. All the segments are precisely analyzed in accordance with share, CAGR, volume growth, and other important factors. Besides, their projections are also given based on various trends.
Market breakdown by source
Market breakdown by application
Food and Beverages
The report further presents the competitive assessment in vast depth and imparts market players‘ capability to assist them to stay ahead of the competitive landscape and to boost productivity. The section focuses on examinations of competitive barriers, growth trends, service providers, prospects, customers, profile assessments, leaders, competitors, and global Plant-Based Oils market risks. Recommendations are also given for making good business decisions as well as the best activities of global players.
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Significant Highlights of The Report:
Historical, current, and projected global Plant-Based Oils market size, in terms of value
The report talks about insights on the current scenarios along with predictions
It includes key segments and country-related assessments incorporating the market share and growth rate of each region, country, and sub-region during the estimated period from 2021-2028.
From macro overview to micro details, the report demonstrates industry performance, recent trends, key drivers, and challenges
It not only examines the global Plant-Based Oils market but provides key actionable insights to its stakeholders
Analysis of niche and potential segments (source, application, and regions/countries) predicted to observe promising growth
Key player positioning analysis and competitive landscape
Analysis of major risks associated with the market operations
This research will surely work as an excellent tool for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are ready to enter or planning to enter the global Plant-Based Oils market in any manner. The informative data available in this report will enable companies to strategize and leverage all forthcoming growth opportunities.
Plant-Based Oils Market Report Scope
Market size value in 2020
USD 41.58 billion
Revenue forecast in 2028
USD 92.87 billion
12.6% from 2021 – 2028
2016 – 2019
2021 – 2028
ACH Food Companies, Inc., Ag Processing Inc a cooperative, Archer Daniels Midland Company, Bunge Limited, Cargill Incorporated, Darby Plantation Berhad, FUJI OIL ASIA PTE. LTD., and others
By Source, By Application, By Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
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The country-wise analysis section covers the following key regions:
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and the rest of South America)
The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)
Key Questions Answered In The Report Include:
What are the current market size and the growth rate?
How has the global Plant-Based Oils market performed so far and how will it perform in the coming years from 2021-2028? What are the key trends impacting the growth?
What are the key regions in the market?
What are the major categories in the global Plant-Based Oils market? What are the major application -segments? What are the major product types?
What has been the impact of COVID-19 on the market?
What is the degree of competition in the industry? What are the key outcomes of Porter’s five forces analysis and the SWOT analysis of the key players functioning?
What are the key driving factors and challenges?
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers.
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