Cooking Oil Market by Type (Palm Oil, Soy Oil, Sunflower Oil, Peanut Oil, Olive Oil, Rapeseed Oil and Others), End User (Residential, Food Services, Food Processing) and Distribution Channel (Hypermarket/Supermarket, Independent Retail Store, Business to Business and Online Sales Channel): Global Opportunity Analysis and Industry Forecast, 2021–2027
Cooking oil also known as edible oil or vegetable oil are oils mainly extracted from oilseeds which is used for baking, frying, and other types of cooking. Cooking oil is also used for the preparation of flavorings and foods which does not require heat, such as bread dips and salad. Recent years have seen trends for oil fortification, Oil fortification is the process of enhancing micronutrients in edible oil in order to upsurge its nutritional value. Fortification of cooking oil can help an individual to meet 25-30% of the required dietary intake for vitamin D & A. In addition, oil fortification is reasonably priced with miniscule cost of oil fortification. Fortification of oil adds multiple advantages thus aiding in market expansion. Impact of advertisement is one of the major growth driver of the cooking oil market, with the growth of advertisement over different platforms, the consumer are becoming aware regarding the different type of oils and the advantages and disadvantages of different cooking oils. Hence, the consumers are shifting toward known brands and are ready to pay higher for the cooking oil. COVID-19 was declared a pandemic in the earlier half of year 2020. The outbreak of coronavirus has significantly impacted the business operation of food & beverages industries which has hampered the cooking oil market. In addition, The recent declaration regarding the shutdown of notable proportion of the hospitality industry, including full service restaurants, caterings, and quick service restaurants has dramatically hampered the sale of cooking oil .On the contrary, sales through e-commerce have experienced a rise during this phase. The global cooking oil market is segmented based on product type, distribution channel, and region. Based on product type, the global market is divided into palm oil, soy oil, sunflower oil, peanut oil, olive oil, rapeseed oil, and other cooking oils. By end user, the market is divided into residential, food services and food processing. By distribution channel, the market is categorized into hypermarket/supermarket, independent retail stores, business to business and online sales channels. Region- The global cooking oil market is analyzed on the basis of its prospects and future growth rate. The report highlights numerous factors that influence the growth of the global cooking oil market. These include market forecast, drivers, restraints, opportunities, and role of the key players operating in the market. Some of the major players profiled in the cooking oil market analysis include Archer-Daniels-Midland Company, American vegetable oil, Bunge Limited, Cargill, Fuji oil, Indo Agri, J-Oils, Louis Drayfus Company, Richardsons International and Wilmar International. Cooking Oil Market Segments
By Type • Palm oil • Soy oil • Sunflower oil • Peanut oil, • Olive oil • Rapeseed oil • Other cooking oils
By Distribution Channel • Hypermarket/supermarket • Independent retail stores • Business to business • Online sales channels
By Region • North America o U.S. o Canada o Mexico • Europe o UK o Germany o France o Italy o Spain o Russia o Rest of Europe • Asia-Pacific o India o China o Japan o ASEAN o Australia o Rest of Asia-Pacific • LAMEA o Brazil o Saudi Arabia o South Africa o Rest of LAMEA
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