Vietnam Edible Oil Market is expected to generate ~1 USD Bn in the upcoming years, driven by focused marketing, quality assurance, convenience & value to consumer: Ken Research

Monopoly Product: The entire edible oil market in Vietnam is currently growing at 8% with palm oil dominating the industry capturing a whooping 70% of the market share. Being solid at room temperature, palm oil has a competitive edge against competing 'soft' vegetable oil like soybean, sunflower and rapeseed oils because it can be readily used for semi-solid and solid food applications. The popularity of palm in Vietnam can be understood by the fact that the country is the second largest importer of palm oil in the entire ASEAN region. Palm oil is also used widely because of its low price. Widespread closures of restaurants, hotels due to COVID-19, reduced palm oil consumption in the foodservice industry in MY 2020/21. Post projects a higher use of palm oil in the food processing and food service sectors in MY 2021/22 as tourism resumes and industrial zones get back to a normal level of production.

Monopoly Product: The entire edible oil market in Vietnam is currently growing at 8% with palm oil dominating the industry capturing a whooping 70% of the market share. Being solid at room temperature, palm oil has a competitive edge against competing 'soft' vegetable oil like soybean, sunflower and rapeseed oils because it can be readily used for semi-solid and solid food applications. The popularity of palm in Vietnam can be understood by the fact that the country is the second largest importer of palm oil in the entire ASEAN region. Palm oil is also used widely because of its low price. Widespread closures of restaurants, hotels due to COVID-19, reduced palm oil consumption in the foodservice industry in MY 2020/21. Post projects a higher use of palm oil in the food processing and food service sectors in MY 2021/22 as tourism resumes and industrial zones get back to a normal level of production.

Analysts at Ken Research in their latest publication, "Vietnam Edible Oil Market Outlook 2026F- driven by Rise in Disposable Income, Prevalence of Health Problems and Increasing Inclination towards Healthy Lifestyle" observed that the market will experience a steady uptick in the upcoming years. Rising income levels & demand for high quality oil are expected to be the main growth drivers in the upcoming years. Growing disposable income, an ageing population, and a preference for healthier lifestyles are some of the factors driving the market's expansion.

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Vietnam Edible Oil Market

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