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According to Towards FnB, the global edible oil market size is calculated at USD 222.96 billion in 2025 and is projected to exceed over USD 361 billion by 2034, expanding at a CAGR of 5.5% during the forecast period from 2025 to 2034. Key drivers include the growing demand for organic and non-GMO oils, advancements in oil production technologies, and rising health awareness among consumers.
The global edible oil market size stood at USD 211.34 billion in 2024 and is anticipated to increase from USD 222.96 billion in 2025 to around USD 361 billion by 2034, at a CAGR of 5.5% from 2025 to 2034, according to a study published by Towards FnB, a sister firm of Precedence Research.
The market is growing speedily due to its high usage in different industries such as food and beverages, cosmetics, bakery, and many other domains. Changing food habits and dietary patterns are also aiding the growth of the market globally.
The edible oil market consists of cooking oil derived from the fat of microorganisms, plants, and animals. The cooking oil is used in multiple industries and domains such as food and beverage, cosmetics, bakery, and various other industries. The oil is used for different purposes in the food and beverage industry, such as for frying, glazing, coating, and various other procedures. It is also one of the highly utilized products in the household kitchen. The growing food and beverage industry, leading to the growth of demand for different types of packaged and processed food items, is another major factor aiding the growth of the edible oil market. Cooking oil is enriched with vitamin E, and it is hygienic and healthy as well due to its nutritional values.
Key Highlights of the Edible Oil Market
*By region, Asia Pacific led the edible oil market in 2024, whereas North America is expected to grow in the expected timeframe.
*By nature, the conventional segment dominated the edible oil market in 2024, whereas the organic segment is expected to grow in the foreseeable period.
*By product, the soya bean oil segment dominated the edible oil market in 2024, whereas the olive oil segment is expected to grow in the foreseeable period.
*By distribution channel, the business-to-consumer (B2C) segment led the edible oil market in 2024, whereas the business-to-business segment is expected to grow in the forecast period.
*By end-use, the food service segment dominated the edible oil market in 2024, whereas the industrial segment is expected to grow in the forecast period.
Source: Online/OFA
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