Summary

Europe is a significant consumer of edible oil, especially olive oil. Spain, Italy, and Greece are major producers and users of olive oil in the Mediterranean region. Long-term growth in the demand for organic health-based products, as well as rising consumption of premium cooking and edible oils by customers who are health-conscious, are the main factors driving the market. The use of edible oil in numerous industries, such as biofuel, food, animal feed, or cosmetics, is also largely supported by regulatory regulations like the Renewable Energy Directive (RED) and the European Union Common Agricultural Policy (CAP). Due to Europe's varied topography, there are a wide variety of crops that produce oil, which is the foundation of its culinary traditions. Edible oils are crucial to the flavor of renowned meals from the Provencal countryside to the Nordic fjords in an area praised for its culinary diversity. Europe's edible oil market is witnessing an increase in demand for products like olive oil, recognized for its heart-healthy qualities, and rapeseed oil, renowned for its omega-3 fatty acids, as health-conscious customers seek oils that strike a balance between flavor and nutritional benefits. The market's development is also entwined with sustainability imperatives, inspiring the investigation of environmentally friendly production techniques and ethical sourcing methods that appeal to environmentally conscious European consumers. The intricate fusion of traditional tastes, modern nutritional considerations, and ethical concerns paints the Europe edible oil market as a dynamic reflection of the continent's culinary evolution, cultural diversity, and commitment to wholesome, sustainable living.

According to the research report, “Europe Edible Oil Market Outlook, 2028” published by Bonafide Research, the market is predicted to add USD 10.25 Billion from 2023 to 2028. Europe's specialty in edible oils encompasses a rich tapestry of distinctive flavors, culinary customs, and nutrient profiles that are a reflection of the area's varied topography and historical legacy. Olive oil, regarded as the Mediterranean region's "liquid gold," is one of the region's outstanding characteristics. A staple of regional and international cuisines, the centuries-old olive groves in southern Europe produce oils that range from delicate and grassy to powerful and peppery. Everything from spreading it over salads to infusing it with herbs for dipping crusty bread demonstrates the versatility of this oil. Rapeseed oil attracts attention in Northern Europe thanks to its vivid yellow color and distinctive nutty flavor. Rapeseed oil is a popular choice for health-conscious consumers looking for cooking oils that strike a balance between flavor and wellbeing thanks to its high omega-3 fatty acid content and low levels of saturated fat. Many European chefs choose it for roasting and frying because of its capacity to tolerate intense heat. Specialty oils like walnut oil, pumpkin seed oil, and sesame oil add distinctive textures and scents to meals amid the region's gastronomic diversity, highlighting Europe's proclivity for culinary creativity. Pumpkin seed oil gives salads and soups depth, while walnut oil's rich, nutty flavor enriches salads and sweets. Asian-inspired meals made with sesame oil have a distinct toasted flavor that highlights the diversity of the region. Furthermore, Europe's specialty oils often bear the coveted Protected Designation of Origin (PDO) or Protected Geographical Indication (PGI) labels, safeguarding their authenticity and cultural ties. These designations celebrate the specific regions and traditional methods that produce oils with exceptional quality and character.

The Europe Edible Oil market is segmented into six major countries including Germany, United Kingdom, France, Italy, Spain and Russia. Among them the largest market for edible oil is Germany, followed by United Kingdom and France. Germany is Europe's largest market for edible oils due to a confluence of circumstances that have molded its economic, cultural, and culinary landscape. Germany's powerful and diverse economy, which is the largest in Europe and the fourth-largest in the world, has contributed to a high standard of living and increased purchasing power among its citizens. This economic strength has resulted in a consumer base with substantial discretionary money, allowing them to afford a wide range of edible oils for culinary and dietary uses. Germany's rich culinary traditions and cultural diversity play an important role in driving edible oil demand. The cuisine of the country includes a variety of dishes from several world cuisines, necessitating the use of various cooking oils like olive oil, sunflower oil, canola oil, and others. This international culinary approach has resulted in steady demand for various types of edible oils, fueling market growth. The health-conscious populace of Germany places a high value on balanced diets and nutrition. Edible oils are an important part of this health-conscious way of life, with oils like olive oil being praised for their heart-healthy characteristics. The greater awareness of such advantages, combined with a growing emphasis on preventative healthcare, has resulted in a preference for healthier oil options in cooking and food preparation. Furthermore, Germany's strong retail infrastructure and well-developed distribution networks ensure that edible oils are widely available throughout the country. Because of this accessibility, as well as the country's strategic location in the middle of Europe, it has become a vital trade hub for edible oils, drawing both domestic production and international imports. Ukraine, Turkey, Poland, Romania, Austria, and a number of other nations are among those whose edible oil markets are expanding significantly in the rest of Europe. Ukraine is one of the largest producers of sunflower oil. The nation's dominance in the production of sunflower oil is largely due to its excellent climate, agricultural environment, and knowledge of sunflower farming. Sunflower oil is a prominent ingredient in Eastern European cooking, while other oils with distinctive qualities that suit certain tastes include camelina oil in Poland and pumpkin seed oil in Austria.

By Product Type, the Soybean oil is commonly consumed edible oil in Europe.

Soybean oil has emerged as the leading player in the European edible oil industry as a result of a number of factors that have contributed to its popularity and broad use. Its versatility in both culinary and industrial applications distinguishes it. Soybean oil's neutral flavor profile and high smoke point make it an excellent choice for a variety of cooking methods, including frying and baking, ensuring that it caters to a vast range of cuisines and culinary preferences across Europe's diverse population. The nutritional composition of soybean oil is consistent with current dietary trends. Soybean oil is a heart-healthy option since it is high in unsaturated fats, particularly omega-6 fatty acids, and low in saturated fats. The oil's low price in comparison to other specialty oils also contributes to its popularity, making it accessible to a broader demographic. Furthermore, soybean oil's flexibility in various food processing procedures makes it a fundamental ingredient in the food sector. Its use in the production of processed meals, snacks, sauces, and dressings ensures steady demand from both consumers and manufacturers. The oil's capacity to improve product texture, mouthfeel, and shelf life has made it a vital ingredient in the modern food processing scene. The European market's growing awareness of sustainability and environmental concerns also contributes to soybean oil's supremacy. Soybean oil, as plant-based oil, coincides with the growing preference for ecologically friendly and socially conscious products, particularly as customers become more aware of their ecological footprint and the influence of their decisions. Based on nature market is segmented into conventional and organic. Edible oils' traditional nature has catapulted them to a leadership position in the European market due to a variety of variables that resonate with consumers, manufacturers, and the broader industry environment. Traditional edible oils, such as olive oil, sunflower oil, and rapeseed oil, are strongly ingrained in European culinary traditions. These oils have been used for decades and are engrained in the region's unique cuisines and culinary traditions, giving customers a sense of familiarity and cultural connection. Furthermore, the supposed health benefits of these oils add to their commercial dominance. Olive oil, for example, is praised for its heart-healthy characteristics and association with the Mediterranean diet, but sunflower oil is abundant in vitamin E and unsaturated fats. As customers become increasingly health-conscious, the naturally occurring nutrients in these oils make them a preferred choice for everyday cooking and dietary needs.

Based on end-user, the market is divided into domestic, industrial, and food service. Food Service segment is leading the market of Europe.

Restaurants, cafes, motels, caterers, fast-food chains, and other types of establishments are all included in the food service industry. As key ingredients in the preparation of a wide range of foods across different cuisines and cooking methods, edible oils are in constant demand as a result of this diversity. Their market dominance is greatly influenced by the practicality and effectiveness of employing edible oils in the food service industry. Edible oils are adaptable culinary tools that make it easy to prepare food quickly and effectively. In professional kitchens, where efficiency and uniformity are key considerations, they are vital because they help foods achieve desired textures, flavors, and aesthetics. Additionally, the diverse qualities of edible oils are compatible with the emphasis on taste and quality in the food service sector. For instance, olive oil is favoured for salads, dressings, and upscale cuisine because of its well-known rich flavor and health advantages. The neutral flavor and high smoke point of sunflower oil make it perfect for frying, resulting in crispy and delectable results. Edible oils are widely used in the food service industry because they can improve the whole eating experience. The food service sector's aptitude for innovation and adaptation also solidifies its position as the market leader. Food service businesses adapt quickly to changing consumer preferences and culinary trends by adding new ingredients and methods of cooking to their menus. Edible oils offer an adaptable surface for experimentation, allowing chefs and food professionals to create novel and exciting dishes that keep customers engaged and intrigued.

Based on distribution channel market is segmented into offline and online. Offline channel includes convenience store, hypermarket/ supermarket, direct sales. Among them convenience store is leading the market of Europe.

Convenience stores are designed to be strategically positioned in easily accessible urban and suburban areas, giving customers a quick and easy way to buy necessities like edible oils. Convenience stores are a dependable source for quick purchases due to their accessibility, which meets the needs of busy consumers and their desire for last-minute purchases. Convenience stores are industry leaders in the sale of edible oils, in part due to their small size and narrowly concentrated product assortment. These shops often have a carefully curated selection of necessities, such as edible oils, to make sure that customers can get what they need without being overwhelmed by options, as they frequently are in larger supermarkets. This simplified strategy fits with consumers' preferences for quick shopping trips, especially when they're looking for certain goods like cooking oils. This adaptability fits a variety of schedules, including those of working professionals and others with different time constraints. As a result, convenience stores have become the go-to places to get edible oils at any time, increasing their influence in the market. Additionally, ready-to-eat and portable food options are frequently highlighted in convenience stores. These products typically call for cooking or preparation, which naturally complements the sale of edible oils.

Market Dynamics

The pervasive emphasis on health and nutrition

An important motivator is the prevalent focus on diet and health in European nations. Consumers in the area are increasingly looking for edible oils with health advantages, such as olive oil with its associated cardiovascular benefits or oils high in unsaturated fats that suit current dietary trends. Consumers are looking for oils with functional advantages above macronutrient content. As an illustration, coconut oil is well-liked because of its potential antibacterial capabilities, while avocado oil is prized for its high smoke point and richness of vitamins and minerals.

Rising expansion of the foodservice sector

The expansion of the booming foodservice sector has greatly boosted the demand for edible oils. These oils are frequently utilized in the food preparation processes of restaurants, cafes, and fast-food chains, which increases consumption. Manufacturers are being prompted to put transparent, accurate information on packaging as a result of consumers' growing awareness of the need to read labels and understand nutritional information. This information helps consumers make informed purchasing decisions.

A new approach to flavor profiles

Another significant development is the innovation of flavor characteristics. As consumers look to improve their culinary experiences, infused oils like garlic- or chili-infused sunflower oil are becoming more popular. Due to their distinct flavors and potential health advantages, specialty oils like nut and seed oils are also developing a niche market. Furthermore, edible oils are increasingly used for purposes other than cooking. Olive oil is utilized not only for cooking but also for salad dressings and dipping sauces, demonstrating a growing understanding of its many uses.

Recent Developments

• Bunge Loders Croklaan: In 2022, Bunge Loders Croklaan expanded its oils and fats portfolio to meet organic demand in Europe. The company now offers a steady and scalable supply of organic oils and fats, ranging from sunflower, rapeseed, and soy to palm, shea, and coconut.

• Archer Daniels Midland Company: In 2022, Archer Daniels Midland Company expanded its vegetable oil production to meet green diesel demand. Vegetable oils are a key feedstock for green diesel, which is a renewable fuel that can reduce greenhouse gas emissions.

• Cargill: In 2022, Cargill announced plans to invest EUR 100 million in a new edible oil refinery in Poland. The refinery is expected to be operational by 2024 and will produce up to 1 million tons of edible oil per year.

• Olimerca: In 2022, Olimerca acquired the assets of the Spanish edible oil company, Grupo Gimet. The acquisition expands Olimerca's presence in the Spanish edible oil market and strengthens its position as a leading supplier of olive oil in Europe.

• Sovena Group: In 2022, Sovena Group announced plans to invest EUR 150 million in a new edible oil refinery in Portugal. The refinery is expected to be operational by 2024 and will produce up to 1 million tons of edible oil per year.

Key Players Insights

Cargill, Incorporated, The Archer-Daniels-Midland Company, IOI Corporation Berhad, Olam International, Associated British Foods plc, Ajinomoto Co., Inc, Wilmar International Limited, Borges International Group, Bunge Limited, Richardson International Limited, Deoleo, S.A., Golden-Agri Resources, CHS Inc, Sovena Group, Corteva, Inc.

Considered in this report

• Geography: Europe
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Europe Edible Oil with its value and forecast along with its segments
• Country-wise Edible Oil market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:

• Germany
• United Kingdom
• France
• Italy
• Spain
• Russia

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 and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone 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 making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

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






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