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Taiwan Vegetable Oil Market To Reach USD 38.94 Million By Year 2030

The Taiwan Vegetable Oil Market size was reasonably estimated to be approximately 26.56 Million Metric Ton in 2023 and is poised to consume over 38.94 Million Metric Ton by the end of 2030, projecting a CAGR of around 4.9% from 2023 to 2030.

Swati Kalagate
Food and Beverages
Pristine Intelligence LLP

Market Overview:

The Taiwan Vegetable Oil Market size was reasonably estimated to be approximately 26.56 Million Metric Ton in 2023 and is poised to consume over 38.94 Million Metric Ton by the end of 2030, projecting a CAGR of around 4.9% from 2023 to 2030.

Taiwan Vegetable oil is a type of edible oil derived from various plant sources, such as seeds, nuts, fruits, or vegetables. It plays a crucial role in cooking, baking, and food preparation worldwide. The extraction process typically involves crushing or pressing the plant's seeds or fruits to obtain the oil, which is then refined to remove impurities. Vegetable oils are rich in essential fatty acids, like omega-3 and omega-6, and they provide a significant source of energy and nutrients in the human diet.

Top Key Players Covered in the Taiwan Vegetable Oil Market:

    • Uni-President Enterprises Corp. (Taiwan)
    • Lih Yann Co. Ltd. (Taiwan)
    • Nisshin Oillio Group Ltd. (Japan)
    • Farmtop Biotech Co. Ltd. (Taiwan)
    • Sheng Chang Oil Mills Co.Ltd. (Taiwan)
    • Morn Sun Feed Corporation (Taiwan)
    • Pacific Oil Mills (Taiwan)
    • Taiwan Edible Oil Co. Ltd. (Taiwan)
    • Thye Huat Chan Oil Mills Sdn Bhd (Malaysia)
    • Daimond Grain Tech Co. Ltd. (Taiwan)
    • Linyi Fuchun Food Co. Ltd. (China)
    • Rich Oil Enterprise Co. Ltd. (Taiwan)
    • Yihai Kerry Group (Taiwan) (Taiwan)
    • Lian Hwa Foods Corporation (Taiwan), and Other Major Players

Market Dynamics and Factors:           

Growing awareness regarding the health benefits of vegetable oils compared to animal fats is a significant driver. Consumers are increasingly opting for healthier dietary choices, propelling the demand for vegetable oils. Additionally, the expanding food industry, particularly in emerging economies, fuels market growth as vegetable oils are widely used in food processing and cooking. Moreover, the versatility of vegetable oils in various applications such as cosmetics, biofuels, and pharmaceuticals create new opportunities for market expansion. Technological advancements in extraction methods and sustainable production practices further enhance market prospects by improving efficiency and reducing environmental impact. However, the vegetable oil market faces restraints such as fluctuating prices of raw materials, which can impact profit margins for manufacturers. Environmental concerns related to deforestation and habitat destruction associated with palm oil production pose challenges, leading to regulatory pressures and consumer backlash in some regions.

Taiwan Vegetable Oil Market Report Highlight:

    • By Type, Increased awareness of health benefits associated with sunflower oil, such as its high content of unsaturated fats and vitamin E, is driving consumer preferences. Additionally, the versatility of sunflower oil in cooking applications, its relatively lower cost compared to other oils, and a growing trend towards healthier lifestyles are all contributing to its expanding market share in Taiwan.
    • By Nature, The rising concerns about health and environmental sustainability, consumers are seeking organic alternatives to conventional vegetable oils. This trend is further fueled by the availability of a variety of organic vegetable oils and the expansion of distribution channels, making organic options more accessible to consumers across different demographics.

Key Industry Development:

In October 2022, Uni-President Group, a prominent food conglomerate in Taiwan, announced that it had successfully reached a settlement in a civil lawsuit with Ting Hsin International Group, another local counterpart. The lawsuit was related to tainted cooking lard.The settlement agreement was officially approved and endorsed by three of Uni-President's subsidiaries, namely Uni-President Enterprises Corp (the food brand), President Chain Store Corp (the operator of 7-Eleven stores), and President Nisshin Corp (the provider of starch and vegetable oil).

In April 2023, The Boards of Directors of The Nisshin OilliO Group, Ltd. and J-Oil Mills, Inc. both passed resolutions to transfer the oilseed processing operations from Nisshin OilliO's Mizushima Plant and J-Oil Mills' Kurashiki Plant to a newly established joint venture called Oilseed Processing Partners Japan, Ltd. The joint spinoff is scheduled to be effective. Further information regarding the details of this new spinoff joint venture is provided below.

Taiwan Vegetable Oil Market Segmentation:

By Type     

    • Palm Oil
    • Soybean Oil
    • Rapeseed Oil
    • Sunflower Oil
    • Olive Oil
    • Others

By Nature 

    • Organic
    • Conventional

By Packaging Type

    • Cans
    • Bottles
    • Pouches
    • Others

By Application

    • Food Industry
    • Pharmaceutical
    • Cosmetics & Personal
    • Animal Feed
    • Industrial

By Distribution Channels

    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Online Retail
    • Wholesale Distributors
    • Specialty Stores

For this report, Pristine Intelligence has segmented the Taiwan Vegetable Oil Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)

 North America

    • The U.S.
    • Canada
    • Mexico

Eastern Europe

    • Russia
    • Bulgaria
    • The Czech Republic
    • Hungary
    • Poland
    • Romania
    • Rest of Eastern Europe

Western Europe

    • Germany
    • UK
    • France
    • Netherlands
    • Italy
    • Spain
    • Rest of Western Europe

Asia Pacific

    • China
    • India
    • Japan
    • Singapore
    • Australia
    • New-Zealand
    • Rest of APAC

Middle East & Africa

    • Turkey
    • Saudi Arabia
    • Qatar
    • UAE
    • Israel
    • South Africa

South America

    • Brazil
    • Argentina
    • Rest of SA
Pristine Intelligence LLP

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