Cooking Oil Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Cooking Oil Market is estimated to be USD 98.7 billion in 2016 and predicted to rise to USD 119.74 billion by 2021 with a CAGR of 3.94%. The market is divided by Extraction Method (Solvent Extraction, Mechanical Extraction, Hydrogenation and Sparging), by Application (Food, Diesel and Industrial), by Type (Palm Kernel Oil, Palm Oil, Canola Oil, Soybean Oil, Sunflower Oil and Minor Vegetable Oil). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The Global Cooking Oil market is driven by factors like rising preference for convenience foods, rising awareness about biofuel, rising consumption of vegetable oils, rising population and diversification of products among others. However, the market is constrained by factors like high price involved in the process of extraction of oil from seeds and adverse climatic conditions in some regions.
The Global Cooking Oil market is divided on the basis of extraction method into solvent extraction, mechanical extraction, hydrogenation and sparging. By application the market is divided into food, diesel and industrial sub-segments. On the basis of type, the market is divided into palm kernel oil, palm oil, canola oil, soybean oil, sunflower oil and minor vegetable oil.
The Global Cooking Oil market is divided based on geography into North America, Europe, Asia Pacific, Latin America and Middle East and Africa regions. Asia Pacific region has the largest market in the world by share and is also the fastest growing region. Europe has the second largest market which is followed by North America region.
Some of the major players in the market include Ach Food Companies Inc., Archer Daniels Midland Company, Beidahuang Group, Bunge Alimentos SA, Bunge Global Inc., Carapelli Firenze S.P.A, Cargill Agricola S.A., Cargill Investment (China) co. ltd and Chinatex Corporation.