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UAE Vegetable Oil Market

The UAE Vegetable Oil Market size was valued at $3.13 Billion in 2023, and is projected to reach $4.15 Billion by 2030, registering a CAGR of 4.11% from 2023 to 2030.

24-04-2024
Swati Kalagate
Food and Beverages
Pristine Intelligence LLP

According to a new report published by Pristine Intelligence LLP, titled, “UAE Vegetable Oil Market by Component and Functional Area: Opportunity Analysis and Industry Forecast, 2023–2030,” the UAE Vegetable Oil Market size was valued at $3.13 Billion in 2023, and is projected to reach $4.15 Billion by 2030, registering a CAGR of 4.11% from 2023 to 2030. Vegetable oil is an oil extracted from oil-rich plants and plays a crucial role in modern diets, being widely utilized in cooking, food preparation, and various industrial uses. The main sources of vegetable oil are seeds, nuts, and fruits of plants such as soybeans, sunflowers, palm fruit, canola, coconuts, and olives. The extraction process usually involves pressing or solvent extraction, followed by refining to produce a clear, neutral-flavored oil suitable for consumption. As a vital source of dietary fats, vegetable oil provides essential fatty acids like omega-3 and omega-6, which are necessary for cell membrane formation, hormone production, and various bodily functions. Furthermore, vegetable oil is rich in vitamin E, an antioxidant that protects cells from oxidative damage.

In addition to its nutritional significance, vegetable oil is widely favored in cooking due to its high smoke point, making it ideal for frying and deep-frying. Its neutral taste allows it to harmonize well with various ingredients, making it a versatile component in both savory and sweet dishes. Moreover, vegetable oil finds application in the production of soaps, cosmetics, lubricants, biodiesel, and other industrial products.

According to the global UAE Vegetable Oil Market analysis, the market is divided by Type, Nature, Packaging Type, Application, Distribution Channels, and geographical division. By Type, the market is categorized into Palm Oil, Soybean Oil, Rapeseed Oil, Sunflower Oil, Olive Oil, And Others. By Nature, the market is categorized into Organic and conventional. By Packaging Type, the market is categorized into Cans, Bottles, Pouches, and Others By Application, The market is categorized into the Food Industry, Pharmaceutical, Cosmetics and personal, Animal Feed, And Industrial. By Distribution Channels, the market is categorized into Hypermarkets/Supermarkets, Convenience Stores, Online Retail, Wholesale Distributors, and Specialty Stores.

Urbanization and changing lifestyles have a significant impact on the UAEn vegetable Oil Market. As urban areas continue to grow and more people migrate from rural to urban settings, their dietary preferences and cooking habits often evolve. In urban environments, people tend to lead busier lives, which has led to an increased demand for convenience and ready-to-use cooking ingredients. Vegetable oil, being a versatile and readily available cooking oil, fits well with the demands of urban consumers seeking ease and efficiency in their daily cooking routines.

The increasing demand for processed foods presents a significant opportunity for the UAEn vegetable Oil Market. As consumer lifestyles become faster-more-paced and hectic, there is a growing inclination towards convenient and ready-to-eat food options. Processed foods, such as packaged snacks, baked goods, and pre-cooked meals, cater to this trend by offering quick and easily accessible meal solutions. Vegetable oil serves as a key ingredient in the production of many processed food items, including baked goods, fried snacks, and various ready-to-cook products.

Global UAE Vegetable Oil Market, Segmentation

The UAE Vegetable Oil Market is segmented based on Type, Nature, Packaging Type, Application, Distribution Channels, and region.

Type:

Sunflower oil is the dominant segment in the UAE Vegetable Oil Market for several compelling reasons. Firstly, UAE is one of the world's leading producers of sunflower seeds, making it a major source of sunflower oil production. The country's favorable climate and extensive agricultural land allow for substantial cultivation of sunflower crops, ensuring a steady and abundant supply of raw materials.

Nature:

The Vegetable Oil Market thrives on organic principles, embodying nature's essence. Organic practices prioritize sustainable cultivation, eschewing synthetic pesticides and fertilizers. This commitment ensures purity, delivering oils free from harmful residues. Consumers gravitate towards these products, drawn by their health benefits and environmental stewardship. Within this market, organic represents a harmonious partnership with nature, fostering trust and integrity in every drop of oil produced.

Country:

The UAE Vegetable Oil Market is a crucial sector in the country's agricultural and food industries. UAE is among the leading producers and exporters of vegetable oil globally, with a strong focus on sunflower oil, which dominates the market. The country's vast agricultural land and favorable climate conditions contribute to significant sunflower seed production, supporting a robust vegetable oil industry.

The market is primarily driven by domestic consumption, as vegetable oil is a staple in UAEn diets and used extensively in cooking and food preparation. Additionally, with the increasing health consciousness among consumers, there is a rising demand for healthier edible oils, further boosting the consumption of vegetable oil.

Some of The Leading/Active Market Players Are-

    • Al Ghurair Resources Oils and Proteins (UAE)
    • Savola Group (Saudi Arabia)
    • Iffco Group (UAE)
    • Rafael Salgado S.A. (Spain)
    • Abu Dhabi Vegetable Oil Co. (UAE)
    • Cargill Incorporated (US)
    • Amira Nature Foods Ltd. (UAE), Other Active Players

Key Industry Developments

In April 2023, Cargill disclosed plans for a substantial investment of US$50 million (A$73m). The investment is intended to modernize and enlarge its oilseed crush facilities in Newcastle, Narrabri, and Footscray. The main objective behind this strategic move is to meet the increasing demand for canola and cottonseed products from their customers while also extending Australian farmers' access to international markets.

 Key Findings of the Study 

    • By type, The Sunflower oil segment is expected to dominate the market during the total UAE Vegetable Oil Market forecast period.   
    • By Nature, the Smart Mobility segment held the largest share of 57.6% in 2023.
    • UAE is among the leading producers and exporters of vegetable oil globally
Pristine Intelligence LLP

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