Asia Pacific Excluding Japan to Witness Increased Consumption and Demand for Cooking Oils
Sale of cooking oil across various regions in the globe has been significantly increasing since the past several years. However, emerging economies in the Asia Pacific excluding Japan (APEJ) region are expected to largely contribute to the growth of the cooking oil market. This is mainly driven by increasing population growth across countries in Asia Pacific excluding Japan (APEJ), especially China and India that are highly populated (Chinese population in 2017 was 1,409,517,397 and has touched 1,415,045,928 in the first four months of 2018 and is still growing).
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Key Highlights on the Global Cooking Oil Market
With respect to region, Asia Pacific excluding Japan (APEJ) is expected to showcase higher growth potential as compared to other regions. Moreover, the sale of cooking oil in this region is expected to increase at a higher rate during the period of assessment. The sale of cooking oil in APEJ region is largely driven by heavily populated countries such as India and China. In China, according to WHO, the rate of chronic diseases has risen since past years owing to lifestyle changes and other causes such as excessive smoking and consumption of alcohol. This has led to development of cooking oils that are high in nutritional value and promote health by increasing the good cholesterol content. For example, the demand for coconut oil in this region is expected to rise at a significant rate as it assists in fat burning to a large extent. In addition, the growing rate of population in countries of India and China is expected to spur the sales volume of cooking oils in this region, thus contributing to the growth of the global cooking oil market.
Demand for olive oil is expected to grow across regions during the forecast period owing to the health benefits associated with the product. For instance, olive oil is a rich source of antioxidants such as polyphenols that promote heart health. According to The New England Journal of Medicine, they are typically used in Mediterranean diet that has been followed across regions in order to reduce heart strokes and death related to heart disorders. With respect to category, refined cooking oils have gained steady demand and are witnessing higher consumption as compared to other forms of cooking oils. Refined oils promote growth of good cholesterol that helps in fighting cardiovascular disorders and reduce the bad fat content in the body. Various refined cooking oils such as coconut oil, olive oil, canola oil and extra virgin olive oil, to name a few, are gaining high preference in daily cooking activities.
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Table Of Content:
- Executive Summary
1.1. Summarizing Key Findings
1.2. Trends and Developments
1.3. Strategic Themes
1.4. Highlighting Action Area – Wheel of Fortune
- Global Cooking Oil Market Overview
2.2. Market Definition and Scope
2.3. Market Taxonomy and Segments Captured
- Global Cooking Oil Market Outlook
3.1. Market Size (US$ Mn) & Volume (Tonnes) and Forecast, 2012-2026
3.2. Market Y-o-Y Growth
3.3. Forecast Factors and Relevance of Impact
- Global Cooking Oil Market Dynamics
- Supply Chain and Value Chain Assessment
- Actionable Insights and Analysis
6.1. Competition Footprint Matrix
6.2. Scenario Forecast
6.3. PESTLE Analysis
6.4. Porter's Five Forces Analysis
6.5. Product Life Cycle
6.6. Investment Feasibility Matrix
6.7. List of Distributors
6.8. Key Participants Market Presence (Intensity Map) By Region
Conventional cooking oil segment by nature is expected to witness significant demand. The sale of conventional cooking oil is expected to increase during the forecast period. These oils have high smoke point and are available in various flavors. Moreover, they are a much preferred choice in restaurants. With respect to sales channel, hypermarkets and supermarkets are expected to largely contribute to the growth of cooking oil market. The sale of cooking oil in hypermarkets and supermarkets is relatively higher. This fact can be supported with increasing number of hypermarkets and supermarkets across reigns. In addition, consumers prefer first personal look while procuring food products and also look for varieties. These options are available in hypermarkets and supermarkets on a large scale, thus driving their growth. The hypermarkets and supermarkets segment is expected to lead the global cooking oil market during the period of assessment.
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