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.

INDIA, 01/02/2023 (informazione.news - comunicati stampa - cibi e bevande)

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 in their latest publication 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.

In the near future it is anticipated that the demand will grow at a double digit CAGR on the basis of revenue between FY2022P and FY2027F. Drone Technology, Voice Ordering, Processing Centre Automation and Innovative Product Category is anticipated to drive the Online Meat Delivery Market in future. Demand Prediction and Customer Behaviour Analysis is crucial to ensure sufficient availability of meat products and to ensure minimum spoilage of these products.

The Organic Baby Food market in North America is expected to witness strong growth over the next five years, owing to the increasing awareness among parents regarding the intake of nutrition, with the health benefits associated with organic food. The Organic Baby Food market in North America is expected to grow at a rate of more than 10% CAGR over the next five years. The increasing awareness among parents regarding the intake of nutrition, with the health benefits associated with organic food products which includes vitamins, minerals, fiber, carbohydrates, and calcium is driving the market growth in the North America . The organic baby food segment in the North America is expected to be driven by brand promotions and the involvement of international players in altering the known offerings into organic tags, thereby, increase sales.

The Global Dietary Fibers Market is highly competitive with ~200 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Dietary Fibers. Large global players constitute ~15% of competitors, while country niche players represent the largest number of competitors. New product launches, geographic expansions, R&D investments, and mergers and acquisitions are major endeavors to boost market share. This aids in their investigation of the untapped market potential. To ensure an effective flow of their products throughout all regions, industry players turn to supply chain agreements with dealers and distributors. Some of the major players in the market include Cargill, Incorporated. Ingredion., Tate & Lyle, Roquette Frères, Archer Daniels Midland Company (ADM), DuPont., J. Rettenmaier & Söhne GmbH + Co KG, Kerry Group plc., Nexira, BENEO, and others.

Ken Research Private Limited
Ankur Gupta , Director Strategy and Growth

+91-9015378249

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