Edible oil is extracted from fruits, vegetables and animals. It is used to prepare a number of delicacies. Amongst the numerous types of edible oils available commercially, soybean, palm, rapeseed, and sunflower oils are prevalent among buyers. The edible oil market is anticipated to grow considerably in the upcoming years due to the rising popularity of crude, natural, healthy, and organic vegetable oils. Vegetable oils that are low in fat, cholesterol, and calories are likely to record high growth due to the growing health cognizance midst people across the globe.
Edible oils are majorly used for cooking, though occasionally oils like coconut oil, almond oil and peanut oil are used for personal care in the making of hair oils and soaps. Almond oil is also perfect for hard candy making. It is ideal for candies, candy centers, fondants, frostings, fudges. This flavor can be used in chocolate and chocolate coatings. Vegetable oils are also blended into the feed of animals, to increase their nutrition intake and for their fattening. Some small scale applications of edible oil its use to prepare bio-diesel, lubricants, solvents and emulsions.
Palm Oil: The oil palm, Elaeisguineensis, is native to Africa. The commercial values of this crop lies mainly in the oil that can be obtained from the mesocarp of the fruit - palm oil and the kernel of the nut - palm kernel oil. In fact, oil palm is the only fruit that can give these two types of oil. Both are edible oils but with very different chemical composition, physical properties and applications. Palm oil is used mainly for cooking such as cooking oil, margarine and shortening but also has non-food applications such as soap, detergent, and cosmetics.
Soybean Oil: Soybean oil is a rich source of essential fatty acids, both linoleic and linolenic acid. These polyunsaturated fatty acids are important key to prevent cardiovascular diseases bylowering serum cholesterol through reducing lipoprotein ( LDL ) synthesis and increasing lipoprotein breakdown, as well as by the effect of linolenic acid. Linolenic acid reduces plaque formation and thrombosis by decreasing platelet aggregation, promoting prostaglandin E3 synthesis.
Edible oil is cooking oil that is extracted from the fat of plants, animals or microbial origins. Edible oils are liquid at room temperature and are fit for consumption. Edible oils consist of 96% of triacylglycerides. Ghee, mustard oil, sunflower oil, olive oil, rice brown oil, groundnut oil, soya oil, palm oil are some of the examples of edible oils among many. Edible oils contain small amounts of antioxidants which prevent the antioxidation of these oils. Antioxidants are also used to increase the shelf life of the edible oils. However, appropriate levels of antioxidants must only be added.
Owing to the rising awareness and popularity of unprocessed, non-refined, healthy organic oils, the market demand for edible oils is bound to reach the peak of the mountain. The rising demand for omega 3 acid in food items is also driving the demand for edible oils. Retail segment will further expand the scope of growth for edible oils market owing to a strong supply chain of edible oil products. Increasing personal disposable income will also create more lucrative growth opportunities for the edible oils market.
The global edible oil market is estimated to grow at a CAGR of 3.57% from a market value of USD96.878 billion in 2019 to attain a market value of USD119.571 billion by the end of 2025. The global edible oil market is anticipated to witness a substantial growth owing to increasing popularity of unrefined, unprocessed, healthy, and organic oil. In the coming years, vegetable oils with low cholesterol, fat, and calories are likely to gain high response due to growing health awareness among people across the world. In addition, major improvement in retail network, increasing crop yields, oil production, and growing economies are some of the prominent factors supporting the growth of the global edible oil market.
Few Indian Major Players
1. Adani Wilmar Ltd.
2. Betul Oil Ltd.
3. Divya Jyoti Inds. Ltd.
4. Edible Products (India) Ltd.
5. G-One Agro Products Ltd.
6. Hindustan Vegetable Oils Corpn. Ltd.
7. Itarsi Oils & Flours Pvt. Ltd.