Global Edible Oil Coproduct By-Product Market Overview
Edible Oil Coproduct By-Product Market Size was estimated at 7.19 (USD Billion) in 2022. The Edible Oil Coproduct By-Product Industry is expected to grow from 7.59(USD Billion) in 2023 to 12.4 (USD Billion) by 2032. The Edible Oil Coproduct By-Product Market CAGR (growth rate) is expected to be around 5.61% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Edible Oil Coproduct By-Product Market Trends Highlighted
The Edible Oil By-Products Market is witnessing several considerable market developments owing to the heightened need for eco-friendly and multi-purpose food items. The higher awareness about sustainability is emerging as a major market influencer of food production, which is moving consumers and manufacturers towards the adoption of edible oil wastes as substitutes for their conventional counterparts. This trend seems to be very positive as it inspires many participants in food production in the research and development of new technologies and more sustainable methods than the ones that are currently utilized in the food industry. Moreover, with the increase in population year on year, the need to find alternative means of food production becomes more crucial. Hence, the supply of these by-products becomes even more important.
The market is very favorable for further development, especially new product development. The consumption of plant-based foods and the preference for natural ingredients suggest that there is a great opportunity for the use of vegetable oil waste by-products in food applications. This is an opportunity that most companies can take as these by-products have some nutritious values which can bring some added value to food products. Also, the animal feed industry has potential growth since these coproducts may be nutritious and inexpensive protein sources. Recently, there has been a focus on research and development aimed at improving the functional properties and possible uses of edible vegetable oil waste.
Trends indicate that manufacturers are not only focusing on the traditional uses of these products but also exploring their potential in non-food sectors such as cosmetics and biofuels. As the market continues to evolve, companies are likely to invest more in technology that can optimize production processes, improve extraction methods, and ensure quality, thereby making the most of the valuable resources that edible oil by-products represent. This holistic approach may enable businesses to align with sustainable practices while addressing the growing demand for diverse food ingredients.
Edible Oil Coproduct By-Product Market Drivers
Growing Demand for Healthy and Sustainable Food Products
The Edible Oil Coproduct By-Product Market Industry is experiencing substantial growth due to an increasing consumer preference for healthy and sustainable food products. As people become more health-conscious, there is a noticeable shift towards healthier dietary choices that include edible oils and their by-products. The rise in awareness regarding the health benefits of various edible oils, such as olive oil, sunflower oil, and others, is leading to significant demand for these products.
Furthermore, consumers are more aware of the nutritional properties and roles of edible oil coproducts, such as omega fatty acids, antioxidants, and vitamins, which promote overall well-being. This trend has been amplified by the rise in social media and informational campaigns that educate consumers about the benefits of these products, leading to a more informed buying decision. Moreover, the emphasis on sustainability is pushing consumers to opt for products that minimize waste and environmental impact, as many coproducts of edible oils serve as valuable ingredients in various food products and animal feeds.
This growing inclination towards healthier food choices and sustainable practices forms a crucial driver for the Edible Oil Coproduct By-Product Market, paving the way for innovation in product development and marketing strategies that focus on health and sustainability.
Increased Utilization in Food Processing Industries
The Edible Oil Coproduct By-Product Market Industry is significantly driven by the increased utilization of edible oil by-products in various food processing industries. As food manufacturers seek to enhance the nutritional value of their products, they are incorporating edible oil coproducts as natural additives, which are rich in flavor and health benefits. This trend contributes to market expansion, as more food companies are exploring innovative ways to utilize these by-products in their formulations, enhancing product offerings while addressing the dietary needs of consumers.
Growing Awareness of Waste Minimization
Another vital driver for the Edible Oil Coproduct By-Product Market Industry is the growing awareness of waste minimization among producers and consumers. With environmental concerns on the rise, there is a pressing need to utilize every part of the raw materials adequately. Edible oil coproducts serve as important by-products that can be utilized in various industries, including food, cosmetic, and biofuel production. This realization is leading to more effective resource management and sustainable practices within the edible oil sector.
Edible Oil Coproduct By-Product Market Segment Insights
Edible Oil Coproduct By-Product Market Type Insights
The Edible Oil Coproduct By-Product Market showcases a diverse Type segmentation that plays a crucial role in shaping market dynamics. In 2023, the combined market value was projected at 7.59 billion USD, with Plant-Based Oils leading the market having a valuation of 2.5 billion USD. The significant growth in this segment is driven by a rising consumer preference for healthier and plant-based food options, positioning Plant-Based Oils as a dominant player not only in terms of market share but also in lifestyle choices. Following closely is the Animal-Based Fats segment, valued at 1.7 billion USD in 2023, appealing to culinary traditions that integrate these fats, especially in regions with strong cultural ties to animal products.
This sub-segment has maintained relevance due to its nutritional advantages and flavor-enhancing properties in several dishes. Hydrogenated Oils hold a value of 1.2 billion USD, with their application primarily in processed foods where shelf stability is essential, although this segment faces challenges due to increasing health concerns regarding trans fats. Refined Oils have a significant market share, valued at 2.2 billion USD in 2023, derived from the need for versatile cooking oils that cater to diverse recipes and applications, securing their importance within households and food service establishments.
The anticipated growth trajectory for these segments from 2024 to 2032 highlights a continuous evolution driven by health trends, sustainability, and culinary innovation, showcasing opportunities in plant-based alternatives, while traditional animal-based products continue to find their place in specific demographics, revealing a multifaceted landscape within the Edible Oil Coproduct By-Product Market.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Edible Oil Coproduct By-Product Market Form Insights
In 2023, the Edible Oil Coproduct By-Product Market was valued at 7.59 billion USD, reflecting a diverse landscape characterized by its segmentation into various forms such as Liquid, Solid, and Powder. The trends in this market indicate a growing preference for these coproducts, driven by the increasing demand for sustainable and plant-based products across industries.
The Liquid form of coproducts is widely utilized in both food processing and cosmetics, making it a significant player in the market due to its versatility. Meanwhile, the Solid form holds substantial importance, being primarily used in animal feed and biofuel production, thus catering to multiple sectors and enhancing its demand dynamics.
The Powdered form, known for its convenience and ease of use, is becoming popular in the food and nutraceutical industries. The Edible Oil Coproduct By-Product Market statistics show that these forms collectively contribute to the market's growth, supported by consumer trends favoring health and sustainability.
Challenges such as regulatory hurdles and fluctuating raw material prices exist but also present opportunities for innovation in developing more efficient processing technologies. Overall, this segment is expected to show robust growth in the coming years, aligning with broader market growth as it adapts to changing consumer preferences and needs.
Edible Oil Coproduct By-Product Market Application Insights
In 2023, the Edible Oil Coproduct By-Product Market was expected to reach a valuation of 7.59 USD billion, reflecting the diverse applications within this market. The Food Industry significantly contributes to this market, as edible oil coproducts are extensively utilized in food preparation and processing, driving substantial demand. Another crucial area is the Cosmetics Industry, where these by-products, known for their moisturizing properties, are increasingly sought after in various skincare formulations. The market also sees notable traction in Biofuels, wherein edible oil coproducts play a vital role in sustainable fuel production, thereby aligning with growing environmental concerns.
Additionally, the Animal Feed sector benefits from the nutritional value of these by-products, presenting a major avenue for market growth as the demand for livestock feed continues to rise. With a robust CAGR of 5.61 from 2024 to 2032, the Edible Oil Coproduct By-Product Market is positioned for continued growth, driven by rising consumer preferences for sustainable and multifunctional products across these applications. The combination of these factors underlines the strategic importance of the market's segmentation and highlights numerous opportunities for innovation and development within each area.
Edible Oil Coproduct By-Product Market Source Insights
The Edible Oil Coproduct By-Product Market reached a value of 7.59 billion USD in 2023, demonstrating a robust growth trend driven by increasing demand for edible oil across various applications. As this market continues to expand, the segmentation reveals that sources such as Soybean, Palm, Sunflower, and Rapeseed play crucial roles. Soybean remains a dominant source due to its high oil yield and rich nutrient profile, making it favorable in both food and feed industries. Palm oil, notable for its cost-effectiveness, is significantly utilized in cooking and processed food production, thus contributing substantially to the market.
Sunflower oil is appreciated for its health benefits, fostering its growth in the consumer market. Likewise, Rapeseed oil, known for its favorable fatty acid composition, is gaining traction due to its applications in biofuels and food products. The overall trends indicate an increasing emphasis on sustainable sourcing and production practices within the industry, which presents both challenges and opportunities for key players in the Edible Oil Coproduct By-Product Market.
Edible Oil Coproduct By-Product Market Regional Insights
The Edible Oil Coproduct By-Product Market exhibits a notable distribution across various regions, with the overall market valued at 7.59 USD Billion in 2023 and projected growth in the coming years. North America holds the majority with a valuation of 2.5 USD Billion, set to expand to 4.0 USD Billion by 2032, highlighting its strategic importance in the industry. Europe follows with a significant valuation of 1.8 USD Billion in 2023, expected to grow to 3.0 USD Billion, indicating a robust demand in that region. The APAC market, valued at 2.0 USD Billion, is also poised for significant advancement, reaching 3.5 USD Billion, driven by increasing consumer awareness and health-oriented trends.
Meanwhile, South America and MEA demonstrate lower valuations at 0.9 USD Billion and 0.4 USD Billion, respectively, but have potential for growth due to rising demand for edible oils in various applications. The segmentation across these regions presents a dynamic landscape within the Edible Oil Coproduct By-Product Market, with North America and Europe dominating due to their established industries, while APAC captures attention for its rapid development and growing market potential.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Edible Oil Coproduct By-Product Market Key Players and Competitive Insights
The Edible Oil Coproduct By-Product Market has become increasingly competitive as various players recognize the value of utilizing by-products generated during the edible oil extraction process. This dynamic landscape is characterized by innovative approaches aimed at maximizing resource efficiency and sustainability. Companies in this space are focused on leveraging their operational strengths and enhancing their market offerings. Competitive insights reveal a strong emphasis on research and development to improve product quality, create value-added applications for by-products, and address shifting consumer preferences towards healthier and more sustainable food options. Furthermore, strategic partnerships, mergers, and acquisitions are common strategies employed by firms aiming to strengthen their market positions and expand their product portfolios in the edible oil coproduct sector.
Adani Wilmar has established itself as a significant player in the Edible Oil Coproduct By-Product Market, showcasing a robust presence driven by its extensive capabilities in production and distribution. The company benefits from state-of-the-art processing technologies that enhance the quality and yield of edible oil by-products, ultimately contributing to its overall efficiency. Adani Wilmar's commitment to sustainability is evident in its practices of utilizing by-products in innovative ways, such as developing food ingredients, animal feed, and biofuels. This approach not only allows for cost savings but also strengthens its branding by aligning with environmentally conscious consumer behavior. In addition, the company's strong distribution network further amplifies its ability to reach various markets, reinforcing its competitive edge in delivering high-quality products to customers.
Marico Limited operates within the Edible Oil Coproduct By-Product Market by tapping into its extensive experience in the edible oil industry, emphasizing health and wellness in its positioning. The company is known for its focus on quality and consumer preferences, which drives its investment in research and development to develop and market innovative by-products. Marico's strength lies in its ability to create value-added products from edible oil by-products, catering to various segments, including food, cosmetics, and personal care. The company's well-established brand reputation for quality and innovation enables it to leverage consumer trust, helping it maintain a competitive position within the market. Marico's strategic initiatives aimed at sustainability and efficient resource usage further solidify its reputation as a responsible player in the edible oil coproduct sector, addressing the rising demand for eco-friendly solutions among consumers.
Key Companies in the Edible Oil Coproduct By-Product Market Include
Adani Wilmar
Marico Limited
Bunge Limited
United Plantations Berhad
Olam International
Wilmar International
Kuwait Food Company
Savola Group
Cargill
Groupe Sofiprotéol
M Oils
Sime Darby Plantation
Archer Daniels Midland Company
Austevoll Seafood
Edible Oil Coproduct By-Product Market Industry Developments
The Edible Oil Coproduct By-Product Market has experienced notable developments recently. Companies like Adani Wilmar and Olam International have been actively expanding their product offerings in response to consumer demand for healthy and sustainable options. Marico Limited has also introduced innovative products that utilize by-products from their oil processing, enhancing their market position. In mergers and acquisitions, Wilmar International is reported to be in discussions for potential collaborations, aiming to strengthen its footprint in the edible oil sector, while Bunge Limited is evaluating strategic partnerships to enhance its supply chain efficiency. Current market trends indicate a shift towards sustainable practices, prompting firms such as Cargill and United Plantations Berhad to invest in environmentally friendly technologies. The overall market valuation of these companies continues to grow, reflecting an increased focus on sustainable sourcing and production processes. Savola Group and Archer Daniels Midland Company are also exploring new avenues for by-product utilization, which could lead to significant advancements in the sector. As consumer preferences evolve, companies are strategically aligning their operations to capitalize on emerging opportunities in the edible oil coproduct by-product landscape.
Edible Oil Coproduct By-Product Market Segmentation Insights
Edible Oil Coproduct By-Product Market Type Outlook
Plant-Based Oils
Animal-Based Fats
Hydrogenated Oils
Refined Oils
Edible Oil Coproduct By-Product Market Form Outlook
Liquid
Solid
Powder
Edible Oil Coproduct By-Product Market Application Outlook
Food Industry
Cosmetics Industry
Biofuels
Animal Feed
Edible Oil Coproduct By-Product Market Source Outlook
Soybean
Palm
Sunflower
Rapeseed
Edible Oil Coproduct By-Product Market Regional Outlook
North America
Europe
South America
Asia-Pacific
Middle East and Africa
| Report Attribute/Metric | Details |
| Market Size 2022 | 7.19(USD Billion) |
| Market Size 2023 | 7.59(USD Billion) |
| Market Size 2032 | 12.4(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 5.61% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2022 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Adani Wilmar, Marico Limited, Bunge Limited, United Plantations Berhad, Olam International, Wilmar International, Kuwait Food Company, Savola Group, Cargill, Groupe Sofiprotéol, M Oils, Sime Darby Plantation, Archer Daniels Midland Company, Austevoll Seafood |
| Segments Covered | Type, Form, Application, Source, Regional |
| Key Market Opportunities | Sustainable packaging solutions, Nutraceutical formulations development, Biodiesel production advancements, Animal feed ingredient expansion, Waste-to-energy innovations |
| Key Market Dynamics | Growing health consciousness, Increasing biodiesel demand, Fluctuating raw material prices, Sustainable agriculture practices, Regulatory compliance pressures |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Edible Oil Coproduct By-Product Market is expected to be valued at 12.4 USD Billion by 2032.
The projected CAGR for the Edible Oil Coproduct By-Product Market from 2024 to 2032 is 5.61%.
North America is expected to dominate the Edible Oil Coproduct By-Product Market, reaching 4.0 USD Billion by 2032.
The market size for Plant-Based Oils is projected to reach 4.1 USD Billion by 2032.
Key players in the market include Adani Wilmar, Marico Limited, Bunge Limited, Olam International, and Cargill.
The market size for Animal-Based Fats is projected to reach 2.9 USD Billion by 2032.
The Refined Oils segment is expected to be valued at 3.5 USD Billion by 2032.
The expected market size for the APAC region is 3.5 USD Billion by 2032.
Hydrogenated Oils are estimated to generate revenues of 1.9 USD Billion by 2032.
The market currently faces challenges related to fluctuating raw material prices and regulatory changes.
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