The global cooking oil market is expected to register a moderate growth in the near future. Major factors driving the growth of the global cooking oil market are growing processed food industry, increasing food consumption especially in the Asia Pacific region, consumption of bakery and confectionary products. In addition, growth of the hospitality industry in certain countries as well as increasing fast food joints or quick service restaurants globally are expected to drive the growth of the global cooking oil market during the forecast period.
The global cooking oil market report has been segmented on the basis of oil type, distribution channel, and region.
On the basis of oil type, the global cooking oil market has been segmented into palm oil, soybean oil, canola oil, sunflower oil and others. Currently the palm oil segment dominates the global cooking oil market and is expected to dominated the market over the forecast period.
On the basis of distribution channel, the global cooking oil market has been segmented into retail, food service industry, and food processing industry. The retail segment is further sub-segmented into hypermarket & supermarket, convenient stores, grocery stores, food speciality stores and e-commerce. Currently the retail segment accounts for the largest revenue share and is expected to remain dominant due to increasing consumption of cooking oil products among consumers across the globe.
On the basis of region, the global cooking oil market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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In 2017, Asia Pacific cooking oil market is expected to account for major share in the global market in terms of revenue, and is expected to maintain its dominance over the forecast period, due to high disposable income and demand for convenience lifestyle by people in countries in this region. In addition, Asia Pacific cooking oil market is projected to register highest CAGR in the next five years.
Key players operating in the global cooking oil market include Unilever Plc, Cargill, Inc., International Foodstuff Company Limited, United Plantation Berhad, Wilmar International Limited, Archer Daniels Midland Company, Associated British Foods Plc, Bunge Limited, Ajinomoto Co., Inc., and Congra Foods Inc.