Market Trends of Asia Pacific Vegetable Oil Industry
This section covers the major market trends shaping the APAC Vegetable Oil Market according to our research experts:
Growing Consumption of Sunflower Oil
Sunflower oil is light in taste and appearance and supplies more vitamin E than any other vegetable oil. Thus, the adaptability of sunflower oil is attributed to its increasing demand among consumers for household cooking purposes. Therefore, sunflower oil has a high demand in developing countries as it is healthy and cheaper than most of its counterparts. The growing sunflower oil consumption is offsetting declines for palm, cottonseed, and rapeseed oil, globally. Moreover, sunflower oil is highly witnessed in the personal care segment. Giant players of the market studied are incorporating sunflower oil in their clean-label and sustainable products.
China Holds the Largest Market Share
The rising affluence of China's middle-class population is permitting consumers to purchase higher-priced, packaged vegetable oils. Moreover, the ban on the sale of loose oils in some Chinese cities has further stimulated the demand for packaged oils. In Asia-Pacific, China holds the largest share of vegetable oil consumption, as well as production. Though the production volume is high, consumption exceeds production, resulting in higher import volumes when compared to export volumes. China is an import-oriented country. Wilmar International Ltd (Yihai Kerry), Cofco Corporation, and Xiwang Food are some of the major edible vegetable oil companies operating in the Chinese market.
