Market Research Future (Food and Beverages) Vegetable Oil Market Research Report | Page 3

Vegetable Oil Market Research Report - Forecast till 2023
2 Market Overview
Consumption of vegetable oil has been increasing across regions and mainly driven by economic expansion in
developing. Growing number of applications and increasing use of vegetable oil in culinary uses, hydrogenated oils,
industrial uses, and fuel are expected to propel the global vegetable market during the forecast period.
Processing of vegetable oil involve extraction and processing of oils and fats from several vegetable sources such
as olives and soybeans. The various methods used to produce vegetable oil generally include mechanical extraction,
solvent extraction, hydrogenation, and deodorization. All these methods depend on the type of oil source to be
processed. For instance, mechanical extraction is typically used to produce traditional oils such as olive and coconut.
Growing use in culinary such as cooking and baking for flavour and texture are fuelling the vegetable oil market
growth globally.
Regional Analysis:
Globally, Asia-Pacific is expected to dominate as well as register the highest CAGR in the vegetable oil market during
the forecast period due to rising living standards and high population growth. Growing agriculture industry has led to
growing production and consumption of soybean oil in China and India and palm oil in regions of Indonesia and
Malaysia. Furthermore, rapid urbanisation and presence of diverse cultures as well as cuisines are expected to drive
the regional market growth during the forecast period.
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