Edible Oils Market Growth Accelerated by Increased Demand for Healthy Oils
Edible oils such as olive oil, palm oil, soybean oil and canola oil are rich dietary sources of fat that provide energy and facilitate the absorption of fat-soluble vitamins. They are widely used for cooking purposes due to their high smoke point. However, rising health concerns have boosted demand for olive and canola oils which contain monounsaturated and polyunsaturated fats known to improve cardiovascular health when substituted for saturated and trans fats. The global Edible Oils Market is estimated to be valued at US$ 124.38 Bn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increased demand for healthy oils is one of the key trends driving growth of the edible oils market. Manufacturers are developing innovative product formulations and marketing strategies to tap into opportunities arising from the shift in consumer preferences towards natural...