The Oils Global Market Report 2023, provides comprehensive information on the oils market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global oils market size is expected to grow from $89.68 billion in 2022 to $96.14 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global oils market size is expected to reach $118.91 billion in 2027 at a CAGR of 5.5%.
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Product innovations are a key trend gaining popularity in the oils market. Major companies operating in the oils market are focusing on developing new products to sustain their position in the market. For instance, in February 2023, KTC Edibles Ltd., a UK-based independent manufacturer and distributor of edible oils, launched certified sustainable hard palm kernel oil (KPKO), a 100% vegetable oil acceptable for vegans and low in trans fats. The use of HPKO in ice cream and confectionery goods is ideal. KTC HPKO has a neutral flavor and odor that blends nicely with both dairy-based and vegan goods because it is free of additives, allergies, and genetically modified components. The company’s increasing line of premium edible oils and fats now includes Certified Sustainable Segregated HPKO. It joins a number of other items in the KTC line, including the UK’s first and only Halal beef dripping and a recently introduced premium Italian lard.
The oils market is segmented:
1) By Oil Type: Palm Oil, Soybean Oil, Canola Oil, Sunflower Oil, Other Oil Types
2) By Form: Liquid, Solid
3) By Source: Fruits And Vegetables, Herbs And Spices, Flowers
4) By Method Of Extraction: Distillation, Carbon Dioxide Extraction, Cold Press Extraction
5) By Application: Food Industry, Biofuels, Other Applications
Asia-Pacific was the largest region in the oils market in 2022.
The table of contents in TBRC’s oils market report in the tbrc
- Executive Summary
- Oils Market Characteristics
- Oils Market Trends And Strategies
- Oils Market – Macro Economic Scenario
- Oils Market Size And Growth
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- Africa Oils Market
- Oils Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Oils Market
- Oils Market Future Outlook and Potential Analysis
- Appendix
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