Plant-based Oils Market was valued at USD 25.6 Billion in 2022 and is projected to reach USD 45.3 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
The global plant-based oils market is expanding as the demand for sustainable and health-conscious alternatives to animal-based oils increases. This market includes a variety of applications, with each sector contributing significantly to the overall market dynamics. Plant-based oils are primarily used across various industries such as food and beverages, animal feed, biofuels, industrial applications, and others. These oils are derived from various plant sources such as seeds, fruits, and nuts, with common examples including soybean oil, sunflower oil, palm oil, and canola oil. These oils offer numerous advantages, including sustainability, lower environmental impact, and health benefits, which have made them a popular choice in both consumer and industrial markets.
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The food and beverage industry is the largest consumer of plant-based oils, accounting for a significant share of the global market. These oils are used in a wide array of products, including cooking oils, margarine, salad dressings, and processed foods. Plant-based oils are preferred for their versatility, neutral flavor, and health benefits, especially with growing consumer interest in plant-based diets and vegan lifestyles. In particular, oils like olive oil, canola oil, and sunflower oil are highly sought after for their heart-healthy fatty acids, antioxidants, and other nutritional properties. The growing trend toward healthier eating habits and natural food ingredients continues to drive the demand for plant-based oils in this sector. Additionally, plant-based oils are increasingly being used to create low-calorie, low-fat, and allergen-free products, enhancing their appeal to health-conscious consumers.
The trend toward plant-based alternatives has also extended into the processed food industry, where plant-based oils are used as a substitute for animal fats. They are seen as more sustainable, and their production generally results in lower greenhouse gas emissions, making them more attractive to both manufacturers and environmentally conscious consumers. As the plant-based food sector continues to grow globally, there is an increasing shift away from animal-derived fats, which further reinforces the demand for plant-based oils. Additionally, plant-based oils are becoming a popular ingredient in beverage products, especially in vegan and dairy-free drinks, where oils like coconut and soy are utilized for their emulsifying properties. This broad applicability in food and beverage formulations is one of the key drivers of the plant-based oils market in this segment.
The animal feed sector is another critical application area for plant-based oils, especially as the demand for protein-rich feeds increases globally. Plant-based oils are used in animal feed to provide essential fatty acids and energy, improving the overall quality of the feed. Soybean oil, canola oil, and sunflower oil are commonly included in animal feeds due to their high energy content, which helps in the growth and development of livestock. Additionally, plant-based oils are more cost-effective than animal-derived fats, making them an attractive choice for farmers and feed producers. The rising focus on sustainable and ethical sourcing practices also drives the demand for plant-based oils in animal feeds, as these oils are often more sustainable to produce than animal fats.
The plant-based oils used in animal feed also contribute to the quality of the final product, such as meat and dairy, by enhancing the nutritional profile of the animals consuming the feed. Oils like flaxseed oil, which are rich in omega-3 fatty acids, are particularly valued for their ability to improve the health of livestock, including poultry, cattle, and swine. As consumers increasingly prioritize animal welfare and environmental sustainability, the demand for plant-based oils in animal feed is expected to grow. This trend is amplified by the rise in plant-based diets and the increasing number of consumers avoiding animal-derived products, which in turn influences the livestock sector to seek more sustainable feed options. The inclusion of plant-based oils in animal feed contributes to an overall improvement in the health of animals, thereby ensuring better yields in meat and dairy production.
Biofuels derived from plant-based oils represent a rapidly growing sector within the renewable energy market. Plant oils such as soybean oil, canola oil, and palm oil are increasingly being used as feedstocks for biodiesel production. Biodiesel, a renewable alternative to petroleum-based diesel, is produced by chemically converting plant oils into fatty acid methyl esters (FAMEs), which can be used as fuel in diesel engines. The use of plant-based oils for biofuels is considered more environmentally friendly than traditional fossil fuels, as biofuels release fewer greenhouse gases and other pollutants when burned. With the increasing demand for cleaner energy sources and the global push for sustainability, the biofuel market, particularly biodiesel production, is poised for significant growth, driving the demand for plant-based oils.
The advantages of biofuels extend beyond environmental benefits. They provide energy security by reducing dependence on crude oil imports, and they support agricultural economies by creating new markets for plant-based crops. However, the use of plant-based oils in biofuels also raises concerns over food security, as some oils used in biodiesel production, such as palm oil and soybean oil, compete with food crops for land and resources. Nonetheless, advancements in biotechnology and the development of second-generation biofuels, which use non-food feedstocks like algae or agricultural waste, may help mitigate these concerns. As global governments continue to promote clean energy policies, the role of plant-based oils in biofuels will remain a key component of the renewable energy strategy, fostering further market growth in this sector.
Industrial applications of plant-based oils are diverse, spanning sectors such as manufacturing, cosmetics, pharmaceuticals, and lubricants. These oils are used in the production of various industrial products due to their renewable nature and favorable chemical properties. For example, plant-based oils like castor oil and jojoba oil are widely used in the cosmetics and personal care industry for their emollient properties, which are ideal for moisturizing and skin care formulations. In the manufacturing sector, plant oils are used in the production of paints, coatings, and adhesives, offering a more sustainable and non-toxic alternative to petroleum-based products. Additionally, plant-based oils are used in the production of biodegradable lubricants, which have gained popularity in industries seeking environmentally friendly alternatives to conventional oils.
Plant-based oils also find application in the production of industrial chemicals, where they serve as feedstocks for the synthesis of a wide variety of compounds. For instance, oils like soy oil and palm oil can be converted into surfactants, emulsifiers, and other chemical intermediates used in detergents, cleaners, and agricultural chemicals. The growing shift toward sustainability and green chemistry has further boosted the demand for plant-based oils in industrial applications, as they offer a renewable and eco-friendly alternative to fossil-derived materials. Moreover, as industries look to reduce their carbon footprints, plant-based oils are becoming an increasingly attractive option due to their low environmental impact during production and processing. This trend is expected to drive further innovations and applications of plant-based oils in industrial sectors.
The "Others" category in the plant-based oils market encompasses a wide variety of niche applications that do not fall directly into the primary sectors mentioned above. These include the use of plant-based oils in pharmaceuticals, personal care products, and even textiles. Plant-based oils are valued in the pharmaceutical industry for their ability to serve as carriers for active ingredients in drugs, as well as for their therapeutic properties. For example, oils like sesame oil are used in Ayurvedic medicine for their purported health benefits. In the personal care industry, oils such as argan oil and coconut oil are popular in skin and hair care products due to their moisturizing and nourishing qualities. The textile industry also uses plant-based oils for the production of eco-friendly fabrics and biodegradable materials.
Other niche applications also include the use of plant-based oils in candle production, as they provide a cleaner burn compared to paraffin wax. Furthermore, the increasing trend toward sustainable consumer products has pushed plant-based oils into the cosmetics and home care sectors, where they are used in products ranging from makeup to household cleaners. As consumers continue to seek natural and biodegradable products, the demand for plant-based oils in these various applications is expected to increase. Additionally, the development of innovative technologies and processes may further expand the use of plant-based oils in new and emerging industries, making this segment an important area for growth within the broader plant-based oils market.
One of the key trends in the plant-based oils market is the growing consumer preference for plant-based and vegan diets, which is fueling demand for plant-based oils in food products. As people become more health-conscious and aware of the environmental impact of animal agriculture, plant-based oils are seen as a more sustainable and health-friendly alternative to animal fats. Additionally, the increasing focus on sustainability and eco-friendly production methods is pushing industries to adopt plant-based oils, particularly in sectors such as biofuels, industrial chemicals, and personal care. This shift toward more sustainable practices is expected to continue driving the market forward.
Another important trend is the growing innovation in plant-based oil production. With advancements in biotechnology and agriculture, new and improved plant-based oils are being developed, offering better performance, nutritional value, and sustainability. These innovations are opening up new applications for plant-based oils, particularly in biofuels and industrial uses. Furthermore, the push for clean-label ingredients in food and beverages is leading manufacturers to increasingly favor plant-based oils due to their natural and minimally processed characteristics. As these trends continue to evolve, the plant-based oils market will likely see significant growth across all its key application segments.
The plant-based oils market presents numerous growth opportunities, particularly in the biofuel and industrial sectors. As the world continues to shift toward renewable energy sources, plant-based oils offer a sustainable feed
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ACH Food Companies
Inc.
AG Processing Inc A Cooperative
Archer Daniels Midland Company
Bunge Limited
Cargill Incorporated
Darby Plantation Berhad
FUJI OIL ASIA PTE. LTD.
Golden Agri-Resources
Kuala Lumpur Kepong Berhad
Astra Agro Lestari
Riceland Foods
Olam Group
Viterra
Westmill Foods
Wilmar International
Shell
Corteva
Savola
United Plantations Berhad
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Plant-based Oils Market
Food and Beverages
Animal Feed
Biofuel
Industrial
Others
Based on Types the Market is categorized into Below types that held the largest Plant-based Oils market share In 2023.
Sunflower Oil
Palm Oil
Cottonseed Oil
Soybean Oil
Rapeseed Oil
Coconut Oil
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
1. Introduction of the Global Plant-based Oils Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Plant-based Oils Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Plant-based Oils Market, By Type
6. Global Plant-based Oils Market, By Application
7. Global Plant-based Oils Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Plant-based Oils Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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