Summary

The Chinese edible oil market stands as a vital cornerstone of the nation's culinary heritage and economic landscape. In a country where food holds immense cultural significance, edible oils are not merely commodities; they are the very essence of Chinese cuisine. This vast and dynamic market encapsulates a diverse array of edible oils, from traditional staples like soybean and rapeseed oil to the increasingly popular olive and avocado oils. China's rapid economic growth, urbanisation, and changing dietary preferences have significantly transformed this market in recent years, making it one of the largest and most competitive in the world. As the Chinese population continues to demand higher-quality and healthier edible oil options, the industry is experiencing a profound shift towards premium, imported, and specialty oils, reflecting a broader global culinary influence. The interplay of tradition and modernity, health-conscious consumers, and a burgeoning middle class hungry for culinary adventures define the multifaceted landscape of the Chinese edible oil market. In this intriguing arena, a complex web of cultural, economic, and environmental factors shapes both the supply and demand sides, making it a fascinating and critical sector within the broader global food industry. In China, the provinces in the northeast and central east make up the majority of the soybean production regions. The majority of locally operated soybean crushing facilities were located in soybean-producing regions before the 1990s. Numerous additional crushing plants were constructed throughout the coastal region as a result of rising soybean imports. It became less expensive for crushing plants close to harbours to buy imported soybeans due to the lower price of imported soybeans and transit restrictions for local soybeans. China is already self-sufficient in soybean meal because of the vast amount of soybean seeds it crushes (70 million metric tonnes in 2015), and it is a net exporter of soymeal to nations like Japan, Vietnam, and South Korea. China continues to be a net importer of soybean oil, nevertheless.

According to the research report "China Edible Oil Market Overview, 2028," published by Bonafide Research, the China Edible Oil Market was valued at more than USD 34 billion in 2022. Edible oils in China are not just ingredients; they are symbolic of familial and communal bonds. Preparing and sharing meals with family and friends is central to Chinese culture, and the choice of oil used in cooking is a significant part of this tradition. It reflects the regional and familial culinary heritage passed down through generations. Traditionally, Chinese culture has also associated certain edible oils with health benefits. For instance, sesame oil is believed to have nourishing properties and is often used in medicinal and health-promoting recipes. Tea seed oil is an oil with a history of use in traditional Chinese medicine. Chinese culinary traditions emphasise various cooking techniques, such as stir-frying, deep-frying, and pan-frying. Different oils are chosen based on these techniques to achieve the desired flavours and textures. For instance, peanut oil is commonly used for deep-frying because of its high smoke point, while sesame oil is often added as a finishing touch for its aromatic qualities. As China's middle class grows and urbanises, there is a notable shift in dietary preferences. Consumers are increasingly seeking healthier and more diverse food options. This has led to a growing demand for edible oils perceived as healthier, such as olive oil and avocado oil, as well as specialty oils. A rising awareness of health and wellness is driving consumers to choose edible oils that are perceived as beneficial for their health. Oils with a lower saturated fat content and those rich in omega-3 fatty acids, like fish oil, are gaining popularity due to their potential health benefits.

Based on the product types, there are soybean oil, palm oil, rapeseed oil, mustard oil, sunflower oil, olive oil, groundnut oil, coconut oil, corn oil, rice bran oil, sesame oil, cottonseed oil, and others (apricot, hazelnut, almond, macadamia, walnut, avocado, grape seed, cashew, Brazil nuts, canola, etc.). Soybean oil is one of the most widely used edible oils in China. It is versatile, has a neutral flavour, and has a high smoke point, making it suitable for various cooking methods such as stir-frying and deep-frying. It is a staple in Chinese cuisine. Soybean oil has a long history of use in Chinese cuisine, dating back centuries. It is deeply ingrained in traditional Chinese cooking techniques and recipes, making it a staple in many regional dishes. Soybeans are one of the major oilseed crops grown in China, making soybean oil readily available and cost-effective. The domestic production of soybeans and soybean oil supports a stable supply chain, which is important for meeting the high demand. On the strength of greater yields, China's marketing year (MY) 22/23 soybean output is anticipated to reach a nearly record high of more than 18 million metric tonnes (MMT). On account of increased demand for soybean meal (SBM) for swine and poultry as well as for vegetable oil for use in the food industry, Post maintains expected MY 22/23 soybean imports at more than 95 MMT. Others like apricot, hazelnut, almond, macadamia, walnut, avocado, grape seed, cashew, Brazil nuts, canola, etc. are growing at the highest CAGR rate, and Chinese consumers are becoming increasingly health-conscious and are seeking oils that are perceived as healthier alternatives to traditional cooking oils. Many oils are often considered healthier due to their high content of unsaturated fats, particularly monounsaturated and polyunsaturated fats, which are associated with various health benefits. As China becomes more interconnected with the global culinary world, Western dietary trends and influences are spreading. These oils are commonly used in Western cooking and are gaining popularity in China as a result.

Conventional and organic are based on nature types; traditional Chinese cuisine heavily relies on these conventional edible oils. They have been integral to Chinese cooking for centuries, and many iconic dishes and cooking techniques are specifically designed to be used with these oils. There is a strong cultural attachment to these oils, making them staples in Chinese households. Conventional oils like soybean, rapeseed, and peanut oil are highly versatile. They have neutral flavours and high smoke points, making them suitable for a wide range of cooking methods, including stir-frying, deep-frying, sautéing, and as a base for sauces and marinades. This versatility is well suited to the diversity of Chinese cuisine. Furthermore, China is a major producer of soybeans, rapeseed, and peanuts. Domestic production supports a stable supply chain, ensuring a consistent and affordable source of these conventional oils. Historically, the Chinese government has supported the production of soybeans and other conventional oilseeds as part of its food security policies. This support has led to consistent production and supply.

Based on the end user, which includes domestic, industrial, and food service, among them domestic leads the market, Edible oils, especially those produced locally like soybean oil and rapeseed oil, are widely used in traditional Chinese cooking. For ages, these oils have been a crucial component of Chinese cuisine. These oils are standard fare in Chinese families due to their familiarity and cultural significance. Edible oils in China have cultural significance beyond their culinary uses. They are symbols of traditional Chinese cuisine and are deeply embedded in cultural practices and rituals. Special occasions, festivals, and family gatherings often involve the use of these oils in traditional dishes. Furthermore, the food processing industry is the largest consumer of edible oils in China. Edible oils are used as ingredients in a wide range of processed foods, including snacks, baked goods, fried foods, sauces, dressings, and ready-to-eat meals. Soybean oil, palm oil, and rapeseed oil are commonly used in food processing. Edible oils, such as soybean oil and palm oil, are used in baking cookies, cakes, bread, and pastries. They provide the necessary fat content and texture to baked goods. Based on the distribution channel, which includes offline and online, the offline segment leads the market.
Offline, such as convenience stores, hypermarkets, supermarkets, direct sales, and others, Chinese people frequently purchase edible oil from hypermarkets and
supermarkets. Hypermarkets and supermarkets offer a wide variety of edible oil brands and types, including both domestic and imported options. This extensive selection allows consumers to choose based on their preferences, dietary needs, and price points. Customers can easily compare different brands and find oils that suit their tastes and requirements. Furthermore, hypermarkets and supermarkets are often conveniently located in urban and suburban areas, making them easily accessible to a large portion of the population. Consumers can shop for groceries, including edible oils, while doing other household or personal shopping in one place. There are many hypermarkets and supermarkets that offer edible oil in China, including Carrefour, Auchan, RT-Mart, Metro, and many more.

Considered in this report:
• Geography: China
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• China Edible Oils market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type:
• Soybean Oil
• Palm Oil
• Rapeseed Oil
• Mustard Oil
• Sunflower Oil
• Olive Oil
• Ground nut Oil
• Coconut Oil
• Corn Oil
• Rice bran Oil
• Sesame Oil
• Cottonseed Oil
• Others (apricot, hazelnut, almond, macadamia, walnut, avocado, grape seed, cashew, brazil nuts, canola etc)

By Nature:
• Conventional
• Organic

By End-User:
• Domestic
• Industrial
• Food Service

By Distribution Channel:
• Offline
• Convenience store
• Hypermarket/Supermarket
• Direct Sales
• Others
• Online

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Edible Oil industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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