The study involved two major approaches in estimating the current size of the edible oils market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various sources such as annual reports, press releases & investor presentations of companies, white papers, food journals, certified publications, articles from recognized authors, directories, and databases were referred to identify and collect information.
Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, and market classification and segmentation as per the industry trends to the bottom-most level, regional markets, and key developments from both market- and technology-oriented perspectives.
Primary Research
Extensive primary research was conducted after obtaining information regarding the edible oils market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, South America, and the Rest of the World. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, research, and development teams, and related key executives from distributors and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to type, packaging type, packaging technology, grade, extraction technology, end-use, application, distribution channel and region. Stakeholders from the demand side, such as bakery products manufacturers, food processing company, and flavor enhancement brands, were interviewed to understand the buyer’s perspective on the suppliers, products, and their current usage and the outlook of their business, which will affect the overall market.
Note: The three tiers of the companies are defined based on their total revenues in 2022 or 2023, as per
the availability of financial data: Tier 1: Revenue > USD 1 billion; Tier 2: USD 100 million ≤ Revenue ≤ USD
1 billion; Tier 3: Revenue < USD 100 million.
To know about the assumptions considered for the study, download the pdf brochure
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COMPANY NAME
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DESIGNATION
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ADM (US)
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Product Development Manager
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Associated British Foods plc (UK)
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Senior R&D Scientist
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Cargill Incorporated (US)
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Global Marketing Director
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AJANTA SOYA LIMITED (India)
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Head of Edible Oils Technology
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United Plantations Berhad (Malaysia)
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Senior Research Scientist
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Bunge (US)
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Business Development Manager
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Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the edible oils market. These approaches were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following details:
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The key players in the industry and the overall markets were identified through extensive secondary research.
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All shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
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All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain final quantitative and qualitative data.
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The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from leaders, such as CEOs, directors, and marketing executives.
Edible Oils Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to estimate the overall edible oils market and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. The market size was also validated using both the top-down and bottom-up approaches.
Market Definition
According to the US Patents and Trademark Office (USPTO), edible oil is defined as “the fat of a plant origin, which is in the form of liquid at room temperature and is appropriate to use in food. The different kinds of edible oils of plant origin include palm oil, soybean oil, pumpkin seed oil, canola oil, sunflower oil, corn oil, peanut oil, corn oil, sesame oil, sesame seed oil, and grape seed oil, among others.”
They are used in baking, frying, and several food preparations. Edible oils are also used in flavorings and cooking, which does not involve any heat source, such as bread dips and salad dressings.
Stakeholders
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Edible Oil Manufacturers
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Food and Beverage Manufacturers
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Fortified food producers
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Functional beverage companies
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Regulatory bodies and institutions:
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U.S. Food and Drug Administration (FDA)
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European Food Safety Authority (EFSA)
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Health Canada
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Food Safety and Standards Authority of India (FSSAI)
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World Health Organization (WHO)
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National Institutes of Health (NIH)
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Institute of Food Technologists (IFT)
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Distributors and Wholesalers
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Ingredient and equipment distributors
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Research and Development Institutions
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Academic research organizations
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Private research labs
Report Objectives
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MARKET INTELLIGENCE
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To determine and project the size of the edible oils market with respect to the types, end-use and regions in terms of value over five years, ranging from 2024 to 2029.
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To identify the attractive opportunities in the market by determining the largest and fastest-growing segments across regions
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To provide detailed information about the key factors influencing market growth (drivers, restraints, opportunities, and challenges)
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To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
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To analyze the micro-markets with respect to individual growth trends, prospects, and their contribution to the total market.
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To identify and profile the key players in the edible oils market.
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To understand the competitive landscape and identify the major growth strategies adopted by players across the key regions.
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.
The following customization options are available for the report:
Product Analysis
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Product Matrix, which gives a detailed comparison of the product portfolio of each company.
Geographic Analysis as per Feasibility
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.
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Further breakdown of the Rest of Europe edible oils market into key countries.
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Further breakdown of the Rest of Asia Pacific edible oils market into key countries.
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Further breakdown of the Rest of South America edible oils market into key countries.
Company Information
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Detailed analyses and profiling of additional market players (up to five)
HIGHEST CAGR (2024–2029)
India FASTEST-GROWING MARKET IN THE REGION
Growth opportunities and latent adjacency in Edible Oils Market