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The demand for organic food products is surging across the world and their increasing acceptance is likely to boost the market growth in the upcoming years. The increasing demand for organic, clean labelled and preservative-free food products owing to their perceived health benefits is projected to positively leverage the product sales. Numerous buyers prefer organic edible oil since it is healthier than the conventional variants and has minor chance of heavy chemical treatment, which can help buyers to lead healthier lifestyle.
The rising awareness among the buyers regarding the health benefits associated with the consumption of natural ingredients is projected to positively impact the market growth. The prominent players operating in the market are embarking on the innovative packaging strategies and digitalization. Moreover the companies are focused on the research and development of fortified organic edible oil to increase their revenue and product sales in the country such as India where the fortification of edible oil is compulsory. For instance, in June 2018 Food Safety and Standards Authority of India (FSSAI) has made the fortification of edible oils mandatory across the country.
The global organic edible oil market is primarily driven by the increase in the consumption of minimally processed and natural food products. The rising incorporation of organic edible oil in the preparation of organic processed food as the manufacturers are embarking on the launch of clean-labelled processed foods, which in turn is predicted to drive the global market. The buyers are becoming more conscious about their health and fitness and their desire to remain fit has predicted to increase the demand for organic edible oil. The on-going research about the development of fortified organic edible oil due to increasing demand for premium edible products and ingredients and rising government support to fortified food products is anticipated to be a favourable factor for market growth.
Key Market Driver -
Increasing Demand for Organic Food Products
Key Market Restraint -
High Price of the Product
The higher price of the organic edible oil than conventional is likely to be a major factor that hampers the product growth. Moreover, in developing regions the buyers are price conscious and prefer conventional products owing to their lower price, which is expected to impede the growth of the global market.
The prominent players operating in the global organic edible oil market are Cargill, Nutiva, Catania Spagna, EFKO Group, Aryan International, Adams Group, Henan Lvda, Daabon Organic, The J.M. Smucker Group, NOW Foods, and Others.
Organic soybean oil is one the most extensively consumed oil across the globe owing to large production of soybean crop. The wide availability of the raw material i.e. soybean is expected to positively impact the product growth. The high emulsification and lubrication properties of organic soybean oil are expected to positively leverage the product sales. Moreover, health benefitting properties associated with the consumption of canola oil are expected to boost the product share in the global market. For instance, it has low cholesterol content which is likely to help the consumers to lead healthier lifestyle.
Super and hypermarkets are expected to hold the prominent share in the global market. The higher consumer dependency on such stores for grocery shopping due to attractive shelves arrangement, discount offers, and home delivery offered by such stores is expected to increase the product sale through these stores. Moreover, online retail channels are expected to witness significant growth in the forthcoming years due to their various offers such as door step delivery, cash on delivery.
Asia Pacific is expected to witness significant growth in the global market. The presence of countries such as India, China, and Malaysia where a number of oilseeds are grown and processed is expected to propel the market growth in the regional market. Moreover, the increasing expenditure on health benefitting products due to rising household income is projected to boost the demand for organic edible oil.
North America is predicted to hold a significant share in the global market. The rising prevalence of obesity and diabetes within the region is gravitating consumers towards healthy food products such as organic edible oil. Increasing efforts by local market companies and adoption of innovative branding and packaging strategies for organic edible oil sales in the region is further propagating the market growth.
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