According to Reports and Data's latest report, the global size for plant-based oils market was USD 50.43 billion in 2022 and is expected to experience a revenue compound annual growth rate (CAGR) of 6% over the forecast period.

Growing consumer interest in plant-based oils is due to the increasing prevalence of health issues such as obesity, high cholesterol levels, and cardiovascular disease. Plant-based oils are thought to be healthier because they contain less saturated fat than animal-based oils, which promotes heart health and reduces the risk of chronic diseases. Additionally, plant-based oils are versatile in baking and cooking, making them a popular choice for both home cooks and professional chefs.

Furthermore, as more individuals switch to plant-based diets in response to growing awareness of the negative environmental impact of animal agriculture, demand for plant-based oils is increasing. Animal-based oils require more resources and have a greater carbon footprint than plant-based oils. Plant-based oils are perceived to be more environmentally sustainable since they require fewer resources and have a smaller negative impact on the environment. The market for plant-based oils is predicted to expand due to changing consumer preferences for high-quality, all-natural, and organic products, as well as rising disposable income.

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Top Profiled Companies:

• Unilever
• Cargill, Inc.
• Archer Daniels Midland Company
• Bunge Limited
• Wilmar International Limited
• Conagra Brands
• Associated British Foods plc
• Ruchi Soya Industries Ltd.
• J-Oil Mills, Inc.
• Adani Wilmar Limited
• Bio-Oil Limited
• CHS Inc.
• AAK AB
• Sunora Foods Inc.

Drivers of Plant-Based Oils Market

• Health and Wellness Trends: Growing consumer awareness about health and wellness has led to increased demand for healthier cooking and dietary options. Plant-based oils are often perceived as healthier alternatives to animal-based fats and oils due to their lower saturated fat content and potential health benefits.
• Rise in Vegan and Vegetarian Lifestyles: The rise of vegan and vegetarian diets, driven by concerns about animal welfare, environmental impact, and health benefits, has fueled the demand for plant-based oils as alternatives to animal-derived fats like butter and lard.
• Functional Properties: Many plant-based oils are rich in nutrients, antioxidants, and omega-3 fatty acids, which are associated with various health benefits, including cardiovascular health, brain function, and anti-inflammatory effects. This has led to the increased use of oils like olive oil, flaxseed oil, and avocado oil for their functional properties.

Key Regional Markets Covered in the Report:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)

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Further market segmentation

Source Type Outlook:

• Olive
• Coconut
• Palm
• Soybean
• Canola
• Others

Application Outlook:

• Food Beverages
• Cosmetics Personal Care
• Pharmaceuticals
• Others

Key Takeaways of the Global Plant-Based Oils Market Report:

• A comprehensive overview of the global Plant-Based Oils industry.
• Accurate market projections in terms of market size, share, and volume.
• Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
• Deep-dive analysis of the upcoming market trends.
• Qualitative and quantitative analyses of the global Plant-Based Oils market.
• Elaborate study of the leading regional markets in the global Plant-Based Oils market.

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