The market for edible oil packaging is anticipated to grow from US$ 5,353 million in 2023 to US$ 9,336.3 million by 2033. During the forecast period, the edible oil packaging market is anticipated to grow at a high CAGR of 5.7%.
The following factors are driving up demand for edible oil packaging:
- Demand for packaged food products is boosted by increased disposable incomes and population growth.
- Growing consumer health consciousness is driving up demand for better cooking oils like canola and olive oil.
- Edible oil is being used more and more in a variety of sectors, including the food, cosmetics, and pharmaceutical industries.
The government authorities are into reduction of tariffs on import and export of oils by categorizing them as ‘essential consumable items’. On these grounds, the Indian government has sent a safety passage to exports of edible oils but for mustard oil, that too, without any quantitative ceiling.
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Owing to environmental concerns, the key participants are going for ecological alternatives to toxic pollutant raw materials. As such, extensive investment is being done with regard to biodegradable substitutes. This would help in safeguarding the ecosystem. Adopting sustainable raw materials does make way for lucrative opportunities for the OEMs, thereby helping them in expanding the consumer base.
The idea of bulk packaging solutions is being floated, so as to reduce overheads. The big-sized packaging solutions inclusive of cans, drums, and jerry cans, which are capable of carrying over 5 liters of edible oil, are basically made from plastic and steel.
At the same time, the fact that there is a non-uniformity with respect to regulations being laid down by the governments all over regarding compliance with food safety norms could restrain the edible oil packaging market in the forecast period. The low-income regions are more into facing the brunt as the governments need to work upon these rules on the war footing. Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Edible Oil Packaging Market’. The analysts and consultants are there to execute it through primary, secondary, and tertiary research.
Key Takeaways from Edible Oil Packaging Market
- North America holds the largest market share. This could be attributed to the US being at the forefront regarding sales of edible oil packaging solutions. As per Federal Food Drug and Cosmetic Act, the materials that are used to package foodstuff need to be in compliance with safety standards that are set by the US FDA. As such, need for food-grade materials to produce edible oil packaging solutions is catalyzing the edible oil packaging market. The present scenario is such that high-density polyethylene (HDPE), aluminum, and glass are approved as ‘safe’ by the US FDA.
- Europe is led by the UK due to the key participants going for innovative edible oil packaging solutions made out of sustainable raw materials that offer complete recyclability. Germany comes in second herein.
- Coming to the Asia-Pacific, China and India are ruling the roost with production and consumption of soybean oil at the large scale.
Competitive Landscape
- Vetropack Holding Ltd., in December 2020, completed acquisition of Moldovan Glassworks, so as to strengthen its foothold in the market.
- Colep Packaging, in November 2020, was conferred upon the ‘Gold Award’ for ‘Food-Three-Piece’ in the year 2020.
- Sonoco provides rigid plastics and paper as well as flexible packaging options. Innovation with regards to designing is also on the anvil.
“With the increase in adoption of various packaged foods coupled with the growing food processing industry, the global edible oil packaging market is expected to stand tall in the forthcoming period”, says an analyst from Future Market Insights.
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What Does the Report Cover?
- The research study is based on packaging type (bottles, pouches, jerry cans, cans, drums, bag-in-box, and likewise (liquid cartons)), by material (plastic, glass, metal (aluminum), and paper), by capacity (50-500 ml, 501-1000 ml, 1001-5000 ml, and above 5000 ml), and by oil type (soybean oil, coconut oil, olive oil, cottonseed oil, sunflower seed oil, peanut oil, mustard oil, and likewise (palm oil, rice bran oil, corn oil).
- Liquid bottles, jars, cartons, jerry cans, and pouches are being increasingly used for edible oil packaging.
Edible Oil Packaging Market by Category
By Packaging Type:
- Bottles
- Pouches
- Jerry Cans
- Cans
- Drums
- Bag in Box
- Others (Liquid Carton, etc.)
By Material:
- Plastic
- Glass
- Metal (Aluminum)
- Paper
By Capacity:
- 50 to 500 ml
- 501 to 1000 ml
- 1001 to 5000 ml
- Above 5000 ml
By Oil Type:
- Soybean Oil
- Coconut Oil
- Olive Oil
- Cottonseed Oil
- Sunflower seed Oil
- Peanut Oil
- Mustard oil
- Others (Palm Oil, Corn Oil, Rice Bran Oil, etc.)
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
4. Key Success Factors
4.1. Product Adoption Analysis
4.2. Product USPs / Features
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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