Maximum palm oil production is concentrated in Malaysia and Indonesia, together accounting for over one-third of the total vegetable oil production in the world. It is further projected that this production rate is going to decline over the forecast period. It is noticed that the global palm oil production has exceeded the production of other edible oils in the last ten years. The global production of vegetable oil is dependent on the crushing of oilseeds and the production of perennial tropical oil plants, particularly, palm oil. The utilization of vegetable oil for biodiesel production will however remain unchanged for the next ten years which was recorded as 8.5% per annum growth for the past 10 years when biofuel support policies were starting to apply.
The substantial growth is attributed to the expanding domestic production in the country and growth of imports specifically palm oil from Indonesia and Malaysia.įor the Least Developed Countries (LDCs), the per capita availability of edible oil is projected to surge by 1.2 per annum and is further estimated to attain 10 kg per capita in 2028. It is further projected to achieve 15 kg per capita consumption by the end of 2028. The country is projected to maintain the high per capita vegetable oil consumption with a growth rate of 3.1% per annum. For developing nations, the per capita consumption of vegetable oil is assumed to reach 27 kg with a growth rate of 0.4% per annum.Īfter China, India is the second-largest consumer and is ranked as the number one importer of vegetable oil at the international level. In China, the consumption of vegetable oil is predicted to be around 30 kg per capita, and for Brazil, it is estimated to be around 24 kg per capita. Developing regions of the world are predicted to contribute to increasing the market growth for vegetable oil during the forecast period. This is comparatively lower than the 2.0% per annum growth observed during the time period 2009-2018. The global edible oil market is estimated to grow at a CAGR of 3.57% from a market value of USD96.878 billion in 2019 to attain a market value of USD119.571 billion by the end of 2025.Īccording to the OECD-FAO Agricultural Outlook 2019-2028 statistics, it is estimated that the per capita vegetable oil consumption is predicted to grow by 0.9% per annum. 02, 2020 (GLOBE NEWSWIRE) - The "Global Edible Oil Market - Forecasts from 2020 to 2025" report has been added to 's offering.
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