Starting a cooking oil business can be a profitable venture around the world since there are always needs for high quality cooking oil. However, it requires careful planning, market research, professional knowledge on cooking oil processing industry. In this column, we will provide you with a comprehensive guide on how to start a successful cooking oil business in different countries for different oil-bearing materials. We will cover everything you may need to know, from market analysis, investment planning, equipment required for oil extraction, regulations to oil production processes, marketing strategies, and distribution channels. To get more useful and industry-oriented information, we invite you to check out our other articles in this special column on how to start cooking oil business in different regions. We are trying to provide you with valuable guide and tips to help you succeed in your own oil milling business.
Cooking Oil Industry Booms: Profitable Opportunity
Increasing health awareness, increased demand for natural and organic products, and a growing population in emerging nations are likely to fuel considerable growth in the cooking oil sector over the next several years. A recent analysis projects that the worldwide cooking oil market will reach USD 139.85 billion by 2026, expanding at a CAGR of 4.8% from 2020 to 2026. This gives entrepreneurs with a tremendous chance to invest in the sector and develop a prosperous firm.
Cooking Oil Preference in Different Regions
|Regions||Top Cooking Oils||Production Information||Consumption Information|
|North America||Soybean Oil, Canola Oil, Corn Oil, Sunflower Oil, Peanut Oil||produced approximately 19.2 million metric tons of soybean oil in 2020. (source: USDA)||with an annual per capita consumption of about 26 kilograms. (source: USDA)|
|Latin America||Soybean Oil, Palm Oil, Corn Gern Oil, Sunflower Oil, Coconut Oil||major producer of palm oil, soybean oil, and sunflower oil. (source: FAO)||
the annual per capita consumption of edible oils is anticipated to reach approximately 12,5 kilograms. (source: USDA)
|Europe||Olive Oil, SunflowerOil, CanolaOil, CornOil, Rapeseed Oil||the Mediterranean produces 95% of the world's olive oil. (source: IOC)||per capita consumption of vegetable oils in Europe was approximately 16.7 kilograms per year in 2018. (source: Eurostat)|
|Middle East||Olive Oil, Sunflower Oil, Corn Oil, Soybean Oil, Palm Oil||sunflower oil is a common cooking oil in the Middle East. (source: FAO)||the Middle East and Africa edible oil market is expected to grow at a CAGR of around 4% during 2021-2026. (source: IMARC Group)|
|South Asia||Mustard Oil, Sunflower Oil, Soybean Oil, Coconut Oil, Sesame Oil||India is the largest producer of mustard seed globally. (source: USDA)||the India edible oil market reached a volume of 24.6 Million Tons in 2020. (source: IMARC Group)|
|Africa||Palm Oil, Sunflower Oil, Soybean Oil, Peanut Oil, Corn Oil||the Africa edible oil market is expected to grow at a CAGR of 5.5% during 2021-2026. (source: Mordor Intelligence)||per capita consumption of edible oils in Sub-Saharan Africa is relatively low, at approximately 5.7 kilograms per year. (source: USDA)|
|East Asia||Peanut Oil, Soybean Oil, Sesame Oil, Canola Oil, Rice Bran Oil||China is the largest producer of peanuts globally. (source: USDA)||the Asia-Pacific edible oil market is expected to grow at a CAGR of 4.1% during the forecast period (2021-2026). (source: TechSci Research)|
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