The global vegetable oils market in 2024 is marked by significant consumption in India, China, and the United States, with India leading in volume share at 16.44 thousand metric tons, followed by China and the United States at 14.45 and 7.7 thousand metric tons, respectively. Recent variations show a marked increase in Indonesia and Nigeria, while Ukraine and Venezuela recorded decreases. Emerging markets such as Myanmar and Bangladesh are showing substantial growth, highlighting shifting consumption patterns globally.
Future trends to watch include increasing demand driven by population growth in Asian and African countries, along with health trends influencing oil consumption. Additionally, sustainability and innovation in plant-based oils could shape the market dynamics significantly.
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 16.44 | 2023 | +1.38% | +1.29% | View data |
| 2 | 2 China | 14.45 | 2023 | 0% | 0% | View data |
| 3 | 3 United States | 7.7 | 2023 | +0.3% | +0.25% | View data |
| 4 | 4 Brazil | 5.1 | 2023 | +0.5% | +0.33% | View data |
| 5 | 5 Indonesia | 3.94 | 2023 | +1.22% | +0.65% | View data |
| 6 | 6 Russia | 2.76 | 2023 | +0.34% | +0.12% | View data |
| 7 | 7 Nigeria | 2.47 | 2023 | +0.38% | +0.019% | View data |
| 8 | 8 Japan | 2.33 | 2023 | +0.1% | +0.17% | View data |
| 9 | 9 Italy | 1.85 | 2023 | -0.13% | -0.013% | View data |
| 10 | 10 Spain | 1.67 | 2023 | +0.7% | +0.7% | View data |
