he current Middle East Vegetable Oil market research report provides a comprehensive overview of various variables that influence the business portfolio, future outlook, present crisis analysis with significant innovations, and product service segmentation. The research analyzes key statistics on market size, major drivers, growth opportunities challenges, competitive analysis, and revenue share of leading corporations/industries/companies, namely –
-Near East Olive Product
-Abu Dhabi Vegetable oil, Co.
-United Foods Company
-Savola Group
-IFFCO Group
-Rafael Salgado S.A
-Cargill Incorporated
-Amira Nature Foods Ltd.
-Archer-Daniels –Midland Company
-Sime Darby Plantation Berhad
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According to the research report, the Middle East Vegetable Oil Market is expected to expand at a CAGR of 2.85% during 2022-27.
Market Definition: Vegetable oils are mild, odorless, flavorless, light-colored edible oils used for cooking, frying, and making salad dressings. Vegetable oils are a group of fats derived from several seeds, nuts, cereal grains, and fruits. They are used mainly in food feed items. Due to a growing health consciousness in the Middle East, the demand for vegetable oil is on the rise at an exponential rate.
Key Driver: With the increasing number of chronic diseases such as cancer, diabetes, heart disease, and kidney disorder in the region has positively impacted the demand for a healthy lifestyle. Some major countries with a large population, such as Saudi Arabia, Egypt, Turkey, etc., have reported an increase in chronic disease patients. According to General Authority for Statistics, in Saudi Arabia, the total number of patients requiring dialysis was approximately 15,500 in 2015, which rose to nearly 20,000 in the year 2020. Consequently, the consumer is inclined toward adopting a healthy lifestyle as a remedy for curing gastrointestinal diseases, obesity, fatty liver disease, and gastroesophageal reflux disease (GERD).
In addition, the regular use of olive oil other vegetable oils resulted in decreasing the risk for the development of cancer obesity. Moreover, olive oil is helpful in increasing metabolism in obese consumers due to its phenolic composites, substances with antioxidant, anti-inflammatory, and anti-clotting properties, which help increase metabolic rate. Therefore, rising health consciousness amongst the consumers is driving the growth of the Vegetable Oil market.
Possible Restraint: The increasing price of vegetable oil in import-dependent countries such as Egypt, Syria, Yemen, Lebanon, etc., resulted in a negative impact on the market growth of these countries. According to the United Nations World Food Program, the Russia-Ukraine war resulted in an increased price of basic foods essential items in the region, especially vegetable oil such as palm oil, mustard oil, olive oil, etc. Ukraine Russia have been the leading producer exporters of vegetable oil across the globe. Ukraine produces around 46% of sunflower seeds oil and has been the largest exporter of sunflower oil in the world whereas, Russia is the second-largest producer exports around 23% of sunflower oil.
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The Market segments are cited below:
Market Divided into, By Type of Oil
-Palm
-Soybean
-Sunflower
-Coconut
-Olive
-Corn Oil
-Linseed
-Mustard
-Sesame
-Others (peanut, cotton, pumpkin seed oil, canola, grape seed, rice bran, hazelnut)
Market Divided into, By Application
Food
Feed
Industrial
Market Divided into, By Packaging
-Cans
-Bottles
-Pouches
-Others
Country Level Segmentation is as follows: UAE, Saudi Arabia, Iran, Qatar, Kuwait, Oman, Bahrain, Egypt, Jordan, The Syrian Arab Republic, Israel, Lebanon, Others
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Key Citations of the Research Report:
-Influential parameters driving or constraining Market growth
-The Market’s response to the Covid-19 pandemic
-A thorough examination of the Market’s shifting dynamics
-Assists in determining the profitability by providing thorough insights assessments of -various segments of the Market
-Key strategies adopted by market leaders to maintain their position in the Market
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