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.
Report Overview:
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:
*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.
Segmentation Analysis:
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
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:
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
Report Attributes
Details
Market size value in 2020
USD 41.58 billion
Revenue forecast in 2028
USD 92.87 billion
CAGR
12.6% from 2021 – 2028
Base year
2020
Historical data
2016 – 2019
Forecast period
2021 – 2028
Key Companies
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
Segments covered
By Source, By Application, By Region
Regional scope
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Purchase Options
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The country-wise analysis section covers the following key regions:
Key Questions Answered In The Report Include:
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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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