Vegetable Oils: A Global Strategic Business Report
San Jose, California (Vocus) November 1, 2010
Vegetable oil market is extremely vulnerable to vagaries in the economic, agricultural and trade policies, and the recent economic downturn was no exception, which led to a brief slowdown in the world market. The global crisis resulted in difficulties for the oil and fat industry. High price volatility, and lack of working capital to fund production weighed down the global edible oils market. There has also been an inevitable decline in grower’s demand for farm inputs such as fertilizers, specifically in developing countries as a result of stressed financial and credit conditions. Demand for vegetables oils is however on track, with the recovery in global economy. Both oils and edible oilseed prices appreciated by around 15% in 2009, on account of growing demand for palm oil from food sector. Factors such as economic recovery; increasing investments in biodiesel plants; new food regulations; growing demand for palm oil-derived biodiesel; increasing world population; changing living standards and eating habits in emerging countries; accentuates a robust outlook for oilseeds and vegetable oils alike. The future also highlights the emergence of new trends, including increasing competition, continued demand growth in Asian economies, rising and changing facets of consumer health concerns, and development in non-edible applications.
World market for vegetable oils witnessed a significant rise in terms of value and volume over the last decade, barring the period 2008-2010. Today, over 85% of the world’s edible oil consumption comprises of palm oil, soy oil, canola/rapeseed oil, and sunflowerseed oil. Both in terms of production and consumption, Asia dominates the global vegetable oil market. This is in contrast to the early 1990s, when production of vegetable oils was dominated by North America and the European Union, which accounted for 35% of the world’s production, but by the year 2004 these regions witnessed their market shares dwindling to just a little over 20%, elbowed aside by China, Brazil, Argentina, Malaysia, and Indonesia. All of these regions recorded astounding increases in crop yields, and hence oil production. Today, China’s production of edible oil has surpassed that of the United States. Amidst the change, Malaysia, and recently Indonesia have emerged as the world’s largest producer of palm oil, while in the realm of soy oil, Brazil, Argentina, US and China rank as major producers.
In terms of consumption, Asia-Pacific constitutes the largest as well as fastest growing regional market for Vegetable Oils, as stated by the new market research report on Vegetable Oils. Unprecedented rise in the consumption of vegetable oils in China and India, significantly contributed towards the expansion of the global market, and its international trade. Emerging countries, such as China, India, and Indonesia are expected to continue to drive future demand for vegetable oils including crude palm oil. Growing population in Asia and the simultaneous rise in per capita incomes, and economic standards are expected to help guarantee a strong, and robust market for vegetable oils.
Among the different vegetable oil segments, Palm Oil represents the largest as well as the fastest growing segment, buoyed by growing consumption level in China and India; the EU’s aversion to genetically modified (GM) food products; and the US ban on trans-fat foods. The growing emphasis on healthier oils will likely stimulate the demand for palm oil in the US and EU, overshadowing the world market for soybean oil, which is especially rich in artificially saturated fats.
Major players profiled in the report include Archer Daniels Midland Company, Bunge North America Inc., Richardson Oilseed Limited, Carapelli Firenze S.p.A., Cargill Inc., Solae LLC, ConAgra Foods Inc, COFCO Ltd., Dow AgroSciences LLC, Loders Croklaan B.V., J-Oil Mills Inc., Kuala Lumpur Kepong Berhad, Lam Soon (Hong Kong) Ltd, Pt Intiboga Sejhatera, Saffola Quality Foods Inc., Unilever PLC, United Plantations, among others.
The research report titled "Vegetable Oils: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the vegetable oils market; current market trends; key growth drivers; production, consumption and export-import statistics for select product types; recent industry activity; new product launches, and profiles of major/niche global as well as regional market participants. The study analyzes market data and analytics in terms of volume sales for the global market by the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Middle East/Africa and Latin America. Key segments analyzed in the report include Soybean Oil, Olive Oil, Canola Oil, Sunflower and Safflower Oil, Corn Oil, Palm Oil, Coconut Oil and Other Oils (Cotton Seed/Peanut). A seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Vegetable_Oils_Cooking_and_Salad_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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