Organic edible oil is referred as type of oil that is extracted from seeds. It is produced in remarkable assortment by plants through natural metabolic processes. It is free of artificial ingredients as it is made from natural ingredients. It is considered as a healthier alternative. It has low cholesterol, fat, and calories. Thus, it is used for various culinary purposes. There are various types of organic edible oil such as organic soybean oil, organic canola oil, organic olive oil and others. Organic soybean oil is rich in vitamin E, lecithin, sterolins, and phosphoric acid.
The key benefits are included help maintaining functions of the skin, make skin healthier, and treat various skin problems.
According to study, “Global Organic Edible Oil Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the key companies operating in the global organic edible oil market are Adams Group, Cargill, Mizkan America, The J.M. Smucker Company, NOW Foods, Nutiva, Bunge, Enzo Olive Oil, EFKO Group, KORIN Agricultura Natural, Spectrum, Catania Spagna, Eden Foods, TIANA Fair Trade Organics, Clearspring. The key vendors are increasingly competing against each other based on factors for instance quality, product, price, innovation, and distribution. Vendors are focusing on continuous innovations & product launches. The performance of these vendors depends on the spending patterns, tastes, changing consumer perception, and demographic trends.
Based on product type, organic edible oil market is segmented into soybean oil, peanut oil, canola oil, sunflower oil, palm oil, coconut oil and olive oil. Based on distribution channel, market is segmented into retail stores, e-commerce, supermarket/hypermarkets and others. Retail stores segment holds major share in the market owing to reputable chain of retail outlets and robust supply chain of edible oil products. In addition, based on application, market is segmented into commercial and household.
The organic edible oil market is driven by growth in demand for trans-fat-free oils, followed by increase in inclination for foods with greater notational value, rise in demand from small-media enterprises (SMEs) & various industry verticals, improvement in living standards, increase in awareness about the benefits of consumption of edible oil over conventional oil, rise in efforts to lose weight & other health complications, increase in awareness about healthier diets and health risks for instance cardiovascular diseases and growth in concerns about the safety of food. However, higher cost than the regular edible oil and complex inventory management due to perishable nature may impact the market. Moreover, rise in use in the beauty and cosmetic industry is a key opportunity for market.
Based on geography, the Asian-Pacific region holds major share in organic edible oil market owing to rise in incidence of oil adulteration and presence of significant consumer countries in the region. Whereas, the Asian-Pacific and European regions are estimated to exhibit higher growth rate due to increase in uses of online marketing channels and rise in number of restaurants & cafes serving organic food over the forecast period. In upcoming years, it is estimated that the market will be reached at rapid pace as a result of rise in incidences of health problems such as diabetes, digestive disorders, and obesity during the forecast period.
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Ankur Gupta, Head Marketing & Communications