According to the new edible oils and fats market analysis by Future Market Insights (FMI), sales of edible oils and fats are estimated to generate a total of US$ 121.90 billion in 2023. Between 2023 and 2033, the demand is expected to upsurge at a 6.4% CAGR, according to FMI. By 2033, the edible oils and fats market is anticipated to exceed US$ 226.68 billion.

Outlook Scope of Edible Oils and Fats Market 2023 to 2033 Compared to 2016 to 2022

Edible Oil & Fats Market size & share estimated to surpass USD 361.88 billion by 2032, to grow at a CAGR of 3.88% during the forecast period.

The Global Fats and Oils Market is Segmented by Type (Fats and Oils); Applications (Food & Beverages, Pharmaceuticals, Animal Feed, Personal Care & Cosmetics, Other Applications), and Geography (North America, Europe, Asia-Pacific, South America, Middle-East, and Africa,). The report offers market size and values in (USD million) during the forecasted years for the above segments.

Cooking oils and fats are edible substances extracted from plant, animal, or synthetic sources, primarily used in culinary applications for frying, baking, sautéing, and as key ingredients in processed foods. These products contribute texture, flavor, and nutrition to dishes, providing essential fatty acids and serving as a primary energy source. Cooking oils include vegetable oils (e.g., soybean, sunflower, palm, olive, and canola), while fats encompass butter, lard, ghee, and margarine. Their diverse properties smoke points, stability, and nutritional profiles make them indispensable in food preparation and industrial processes such as confectionery and snack production. The global market for cooking oils and fats is driven by several key factors. The increasing global population and rising disposable incomes, especially in emerging economies, have led to greater demand for convenience and processed foods, boosting the consumption of edible oils and fats. Additionally, a growing focus on health-conscious diets has spurred demand for oils with health benefits, such as olive oil, avocado oil, and those fortified with omega-3 fatty acids. Innovations in food technology and product development, such as trans-fat-free and low-saturated-fat products, further fuel market growth. The expanding foodservice and hospitality sectors also play a pivotal role, as they represent significant end-users of cooking oils and fats.Key Drivers of Market GrowthBenefits of Hybrid Seeds: Hybrid seeds enhance crop yields, improve nutritional content, and increase resistance to pests and diseases, leading to increased oil production.Government Initiatives: Governments are implementing policies to promote sustainable agriculture and reduce dependency on imports, which supports the growth of the cooking oils and fats industry.Rising Food Security Concerns: The growing global population and increasing demand for edible oils have raised concerns about food security, driving investments in oilseed production.Technological Advancements: Advancements in oil extraction and refining techniques have improved the quality and efficiency of oil production, further fueling market growth.Major Applications for Hybrid Seeds Hybrid seeds are widely used in the production of oilseed crops such as soybeans, sunflower, canola, and palm, which are the major sources of cooking oils and fats worldwide.Cooking Oils Fats Market Concentration & CharacteristicsThe Cooking Oils Fats Market is characterized by high concentration and innovation.Concentration AreasNorth America, Europe, and Asia-Pacific account for the majority of market share.Major players dominate the market, controlling a significant portion of production and distribution channels.InnovationCompanies invest in research and development to improve oil quality, develop functional oils, and explore alternative sources of oils and fats.Impact of RegulationsGovernment regulations on food safety, labeling, and environmental sustainability influence the market.Stricter regulations have led to increased compliance costs for businesses.Product SubstitutesButter, lard, and margarine can serve as substitutes for cooking oils and fats, but health concerns and price factors impact their demand.End-User ConcentrationThe food processing industry, including manufacturers of baked goods, confectionery, and convenience foods, is a major end-user of cooking oils and fats.The retail sector also plays a significant role in distributing these products to consumers.Level of M&AThe market has witnessed a moderate level of mergers and acquisitions as companies seek to consolidate their positions and expand their geographic reach. Recent developments include: May 2021: ADM built a soybean crushing facility in North Dakota, United States, with an estimated investment of USD 350 million. By 2023, the plant is anticipated to be finished and operating. Crushing soybeans, refining oil, and processing of soy-related products are all functions of the plant., November 2021: To increase the capacity of the plant that produces vegetable oil in Malaysia, Cargill invested about USD 35 million. Due to the facility's dry palm fractionation capability, specialty fats for spreads, coatings, and chocolate can be produced.. Key drivers for this market are: increasing global population and rising disposable incomes, especially in emerging economies, . Potential restraints include: Environmental concerns, particularly regarding the deforestation and greenhouse gas emissions associated with palm oil production, have led to stricter regulations and demand for sustainably certified oils, which can increase production costs.. Notable trends are: Growing awareness of health benefits and risks is Driving Market Growth.

The size and share of the market is categorized based on Type (Vegetable and Seed Oil, Spreadable Oils and Fats, Butter, Margarine, Olive Oil, Cooking Fats) and Application (Restaurant, Hotels, Family Food Processing) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The size and share of the market is categorized based on Type (Soybean, Sunflower, Olive, Coconut, Other) and Application (Online, Offline) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The global Edible Oils and Fats market valued USD 96.90 billion in 2021 and is estimated to about USD 138.234 billion by 2028, with a CAGR of 6.10%.

The global fats and oils market size reached USD 241.1 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 336.3 Billion by 2033, exhibiting a growth rate (CAGR) of 3.38% during 2025-2033. The market demand is expanding rapidly, driven by the increasing health awareness, rising demand for processed and convenience foods, the growth of the cosmetic and personal care industry, heightened product applications in industrial and biofuel sectors, and the escalating population growth and urbanization.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on type, application, source, and sales channel.

This statistic shows the global consumption of vegetable oils from 2013/14 to 2023/24. In 2023/24, sunflower seed oil consumption was forecast to be at over 20.27 million metric tons worldwide. Global vegetable oil production amounted to around 222 million metric tons in that same period. Vegetable oils Vegetable oils are oils or fats extracted from a plant. Their texture can be described as liquid, oily and fatty. Most vegetable oils are able to fulfill two functions: they can either be used as cooking oil or for fuel and diesel production. The most common oil types include palm oil, soybean oil, canola oil and sunflowerseed oil. Palm oil is extracted from the flesh of the palm fruit, which is primarily found in the tropical climate of Africa, South America and South East Asia. It is estimated that about 90 percent of palm oil is used for food consumption, whereas industrial consumption such as cosmetic products or fuel and diesel claim the remaining 10 percent. In terms of consumption as a food product, vegetable oils are seen as the healthier alternative as they contain more unsaturated fatty acids than animal fats. One of the most widely used cooking oils is canola oil, also known as rapeseed oil. It is obtained by extraction from the rapeseed, which is first slightly heated and then crushed. Rapeseed oil, in particular, is seen to have the advantages of containing a higher amount of omega-3 (linolenic acid) and omega-6 (linoleic) fatty acids and to be low in saturated fatty acids.

Global Edible Oil & Fats Market size will exceed a valuation of USD 361.88 billion by 2032, to grow at a CAGR of 3.91% during the forecast period.

Global Edible Oils and Fats Market reached US$ 469.5 billion in 2022 and is expected to reach US$ 824.8 billion by 2031

The North America Edible Oils Fats Market size will be USD 175802.76 million in 2025 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2025 to 2033. North America has emerged as a prominent participant, and its sales revenue is estimated to reach USD 269406.5 Million by 2033. This growth is mainly attributed to the rising demand for oils high in antioxidants, vitamins, and omega-3 fatty acids.

APAC Fats and Oils Market is segmented By Product Type into Oils (Soybean, Palm oil, Sunflower Seed Oil and Other Oils) and Fats (Butter, Lard, and Other Fats); By Application into Food and Beverages, Feed and Industrial; & By Geography.

The North America Fats and Oils Market is segmented by Product (Oils - Soybean Oil, Canola Oil, Palm Oil, Olive Oil, Sunflower Seed Oil, and Other Oils, and Fats - Butter, Lard, and Other Fats), Application (Food and Beverage, Animal Feed, Personal Care and Cosmetics and Other Applications), and by Country.

Global Edible Oils and Fats market size 2025 was XX Million. Edible Oils and Fats Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

The global price per unit in the 'Edible Oils' segment of the food market was forecast to continuously increase between 2024 and 2029 by in total 0.9 U.S. dollars (+18.26 percent). After the tenth consecutive increasing year, the price per unit is estimated to reach 5.87 U.S. dollars and therefore a new peak in 2029. Notably, the price per unit of the 'Edible Oils' segment of the food market was continuously increasing over the past years.Find more key insights for the price per unit in countries and regions like the revenue change in the 'Milk Substitutes' segment of the food market in the world and the average revenue per capita in the 'Breakfast Cereals' segment of the food market in Switzerland. The Statista Market Insights cover a broad range of additional markets.

The market is segmented into various product categories, comprising both oils and fats: Oils: Includes soybean oil, palm oil, canola oil, sunflower oil, and olive oil, among others. Fats: Encompasses butter, margarine, lard, shortening, and ghee. Recent developments include: November 2021: To increase the capacity of the plant that produces vegetable oil in Malaysia, Cargill invested roughly USD 35 million. Due to the facility's dry palm fractionation capability, specialty fats for spreads, coatings, and chocolate can be produced., May 2021: ADM built a soybean crushing factory in North Dakota, United States, with an estimated investment of USD 350 million. By 2023, the factory is anticipated to be finished and operating. Plant functions are crushing soybeans, refining oil, and processing soy-related goods..

Middle East and Africa Edible Oil And Fats Market size will be USD 4370.82 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.

The revenue in the 'Edible Oils' segment of the food market in Mexico was forecast to continuously increase between 2024 and 2029 by in total 0.9 billion U.S. dollars (+25.21 percent). After the ninth consecutive increasing year, the revenue is estimated to reach 4.43 billion U.S. dollars and therefore a new peak in 2029. Find more key insights for the revenue in countries and regions like the revenue in the 'Vegetables' segment of the food market in the United States and the average revenue per capita in the 'Sauces & Spices' segment of the food market in Hong Kong. The Statista Market Insights cover a broad range of additional markets.

Oils (Oils and Fats) Market in United States of America – Outlook to 2021: Market Size, Growth and Forecast Analytics is a broad level market review of Oils market in United States of America. The research handbook provides up-to-date market size data for period 2011-2016 and illustrative forecast to 2021 covering key market aspects like Sales Value and Volume for Oils and its variants Cooking Sprays, Corn Oil, Olive Oil, Other Edible Oils, Sunflower Oil, Vegetable Oil. Read More