Cooking Oil Market Size

Cooking Oil Market size was valued at USD 218.36 billion in 2023 and is poised to grow from USD 231.02 billion in 2024 to USD 362.7 billion by 2032, growing at a CAGR of 5.8% during the forecast period (2025-2032).

The rising global cooking oil market trend of low cholesterol cooking oils including vegetable oil, olive oil, palm oil, and avocado oil is expected to lift the growth of the market globally. People around the world are adopting healthy eating habits, owing to which the companies are offering healthier options along with new marketing strategies. Healthy oils contain antioxidants and Omega 3, which offer impressive advantages.

The market is growing due to increasing consumer awareness about health and wellness. Increased variety in the range of cuisines that consumers try has also added to the need for specialty and premium oils. In addition, plant-based diets have become popular, hence escalating the demand for seed, nut, and vegetable oils, representing another critical cooking oil market trend. Besides, the rapid urbanization and rising disposable incomes, mainly in developing nations, is accelerating market growth with the increase of branded and quality cooking oils purchased by consumers. In addition, urbanization and changing lifestyles have shifted dietary patterns, with more people consuming processed and convenience foods that often require the use of cooking oil. The rise in disposable incomes, particularly in developing countries, has also allowed consumers to spend more on food, leading to greater demand for higher-quality and specialty oils.

The global cooking oil market is driven by the robust demand for organic health-based products, with increased consumption of high-quality edible oils/cooking oils by health-conscious consumers and the growing demand from various applications, such as confectionery, primarily in the production of candies. Also, refined olive oil and coconut oil are increasingly used in various bakery applications, as they are bland in taste, allowing the food to maintain its original flavor. Additionally, they do not exhibit any pungency, unlike mustard oil.

The demand for non-GMO edible oil has also catered to the market, as it augmented the shares of sunflower oil, coconut oil, and olive oil, together with leading segments of the market studied, including palm oil, canola oil, and soybean oil. Palm oil is one of the most highly used vegetable oils. In the past few years, palm oil production amplified significantly, with almost all production growth set in Malaysia and Indonesia. However, the associated large-scale deforestation is restricting palm oil's application in varied food sectors, as consumers are becoming highly aware of the damages caused by deforestation to the environment, and they are opting for the International Palm Oil Free Certification.

Market Key Attributes

In July 2024, Louis Dreyfus Company relaunched its edible oil brand, Vibhor, specifically targeting the North Indian market. This strategic move aims to cater to the growing demand for high-quality edible oils in the region. The company plans to offer Vibhor in various packaging options, including 1-liter, 5-liter, and 15-liter containers, to enhance accessibility for consumers. The brand will focus on promoting its health benefits and quality, leveraging the increasing consumer awareness regarding nutrition and wellness.

In February 2023, Cargill India launched its first edible oil brand, Gemini Pureit, in South India, supported by a USD 35 million investment in an existing facility in Nellore, Andhra Pradesh. The sunflower oil will be produced at this plant and distributed across four South Indian states. Cargill plans to gradually increase investments in the region and expand its product range during the coming years.

In March 2022, Alfa Laval acquired Desmet, a leading provider of processing facilities and technologies for the edible oil and biofuel sectors. Desmet, previously part of the Desmet Ballestra Group, brought expertise in oil refining and biofuel processing, further enhancing Alfa Laval’s capabilities. This acquisition not only reinforced Alfa Laval’s position in renewable energy but also expanded its reach in the edible oils sector, contributing to improved quality control and authenticity verification.