Growth Drivers
Technological Developments
The rising technological advancements in order to control certain limitations associated with the processing of edible oil are fostering the growth of the market. The limitations are related to high processing capacities and heat recovery systems in the process. Further, the rising demand for larger capacity in refining process along with the strict regulations on edible oil nutrition is accelerating the market growth. The research & development is focusing on to reduce the cost of production and to ensure better stability of tocopherol content in edible oils.
Rising Consumer Awareness
The growing consumer awareness towards healthier edible oils owing to the rising production of edible oils and chemical refining is driving the market growth. The chemical refining reduces fatty acid content in crude oil and is relatively efficient method, which in turn, is boosting the growth of the market during the forecast period.
Challenges
High Energy Consumption
The consumption of high energy on the back of heat recovery technologies along with the technical problems during the processing of oil is hampering the growth of the market over the forecast period.
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
4.8% |
Base Year Market Size (2023) |
USD 3.67 billion |
Forecast Year Market Size (2036) |
USD 6.75 billion |
Regional Scope |
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Author Credits: Parul Atri
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