Vegetable Oil Market : Industry Outlook and Market Forecast to 2017

Vegetable Oil

Vegetable oil are basically esters of glycerol and fatty acid extracted from plants and vegetables. The vegetable oils are mostly triglycerides derived from fatty acids. Vegetable oils are considered to be lipid materials obtained from variety of sources like seeds, nuts, fruits, vegetables etc. Vegetable oils are considered to be in liquid form at specific temperature.

The vegetable oil can be broadly classified into:

• Edible vegetable oil : Most of the vegetable oil derived from nuts and seeds are fit for consumption. For example: canola oil, sunflower oil, olive oil, palm oil etc.

• Inedible vegetable oil : Vegetable oil which not fit for consumption are inedible oil. They are generally used as biofuel or in industrial applications. For example : Jatropha oil, Jojoba oil etc.

Applications of Vegetable

Vegetable oil has wide range of applications mentioned below :

• Culinary (Food) Applications : Used for frying, cooking, adding flavor and texture to the food and also used as additives in pet food.

• Industrial Applications :Used in paints, insulators, lubricants etc

• Fuel source : Used as feedstock to make biodiesel.

• Personal care : Used in soaps, skin products and perfumes etc.

Source : FarmHardware, rapgenius

Vegetable Oil Market

Vegetable oil market is growing rapidly owing to factors such as urbanization and technological advancements in biofuel sector. The day today household usage of vegetable oil along with heavy industrial applications have proved to a boon to vegetable oil market.

The vegetable oil market is segmented into various geographical regions mentioned below in descending order based on usage volume and applications.

• Asia-Pacific
• Europe
• North America
• Rest of World (ROW)

Market Trends and Forecast

The current trend in motion for vegetable oil market is affected by following factors:

• Drive towards using bio-fuels instead of using conventional fossil fuels.
• Technological advancements in end-user industry applications
• Growing economies along with better eating habits and lifestyle in Asia-Pacific region.

The major players in the market are ACH Food Companies Inc. (U.S.), ADM (U.S.), Bunge Alimentos S.A. (Brazil), Carapelli Firenze S.p.A. (Italy), Cargill Agricola S.A. (Brazil), CHS Inc. (U.S.), ConAgra Foods Inc. (U.S.), Fuji Oil (Japan), IOI Corporation Berhad (Malaysia), Kuala Lumpur Kepong Berhad (Malaysia), PT Intiboga Sejhatera (Indonesia), and Richardson Oilseed Ltd (Canada).

The following factors listed above are helping global vegetable oil consumption to reach 171 million metric tons by 2017 at a compound annual rate of 1.9% from 2012 to 2017. Asia-Pacific is market leader and will continue its dominance in coming years. Asia-Pacific is followed by Europe and North America.

For more details, follow the link below :
http://www.prnewswire.com/news-releases/marketsandmarkets-global-vegetable-oil-market-worth-914-billion-by-2017-171144561.html