Oils Market Report 2026

The oils market size has grown steadily in recent years. It will grow from $86.41 billion in 2025 to $90.2 billion in 2026 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to expansion of global edible oil consumption, increasing use of oils in food processing, growth of large-scale oil refining operations, rising demand for longer shelf-life food products, availability of diverse oilseed crops.

The oils market size is expected to see strong growth in the next few years. It will grow to $110.31 billion in 2030 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to increasing consumer focus on healthy diets, rising demand for plant-based and specialty oils, expansion of biofuel production using edible oils, growing adoption of sustainable oil extraction methods, increasing regulatory scrutiny on food-grade oils. Major trends in the forecast period include increasing demand for health-oriented cooking oils, rising adoption of cold-pressed and natural oils, growing focus on extended shelf-life solutions, expansion of clean-label oil products, enhanced quality control in oil processing.

The increasing demand for food is expected to propel the growth of the oils market going forward. Food refers to substances primarily composed of proteins, carbohydrates, fats, and other nutrients that provide energy and support growth, development, and essential bodily functions. Edible oils such as olive oil, canola oil, and sunflower oil - known for their high content of monounsaturated fats - are widely used in food preparation. These oils help reduce the risk of heart and cardiovascular diseases while supporting healthy cholesterol levels. For instance, in October 2023, according to the United States Department of Agriculture (USDA), a US-based government agency, food spending accounted for 12.9% of the average U.S. household’s total expenditures in 2023, slightly increasing from 12.8% in 2022. Therefore, the rising demand for food is driving the growth of the oils market.

Major companies operating in the oils market are focusing on developing innovative solutions such as certified sustainable hard palm kernel oil (HPKO) to meet growing demand for clean-label, low-trans-fat, vegan-friendly, and responsibly sourced edible oils. Certified sustainable HPKO is a specialty palm-kernel-derived fat that offers high oxidative stability and a neutral sensory profile, making it suitable for confectionery and frozen food applications. For example, in February 2023, KTC Edibles Ltd., a UK-based independent manufacturer and distributor of edible oils, launched certified sustainable hard palm kernel oil (KPKO). This 100% vegetable-based oil is vegan-friendly, low in trans fats, and free from additives, allergens, and genetically modified components. Its neutral flavor and odor make it ideal for use in ice cream and confectionery products, blending seamlessly with both dairy-based and plant-based formulations. The launch expanded KTC’s premium edible oils and fats portfolio, which also includes products such as the UK’s first Halal-certified beef dripping and premium Italian lard.

In April 2023, Groupe Berkem, an Italy-based chemical company, made a strategic move by acquiring Biopress for an undisclosed amount. This acquisition serves to expand Berkem's portfolio in the 'Health, Beauty, and Nutrition' sector, with a particular focus on the cosmetics and nutraceutical markets. Biopress, a France-based producer, specializes in 100% natural vegetable oils and proteins, aligning with Berkem's commitment to offering products with the virtues of oils and the advantages provided by plant proteins.

Major companies operating in the oils market are Archer Daniels Midland Company, Bunge Limited, Wilmar International Limited, Cargill Inc, Louis Dreyfus Company, Olam Group Limited, Associated British Foods PLC, Unilever PLC, Sime Darby Plantation Berhad, IOI Corporation Berhad, United Plantations Berhad, Golden Agri-Resources Ltd, Mewah International Inc, Richardson International Limited, Adani Wilmar Limited, COFCO International Limited, Musim Mas Group, EID Parry Limited, Patanjali Foods Limited, Marico Limited, AAK AB, Borges International Group.

Asia-Pacific was the largest region in the oils market in 2025. It is expected to be the fastest-growing region in the oils market report during the forecast period. The regions covered in the oils market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the oils market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The oils market consists of sales of clove oil, kerosene, olive oil, coconut oil, petroleum oils, paraffin, and basil oil Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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