The global Plant-Based Oils for Pharmaceuticals Market size was USD 50.43 Billion in 2022 and is expected to reach USD 85.2 Billion in 2032, and register a revenue CAGR of 6% during the forecast period. Some of the major factors driving revenue growth of the Plant-Based Oils for Pharmaceuticals Market include the rising popularity of plant-based diets, rising consumer awareness of the health advantages of using plant-based oils, and rise in vegan and vegetarian populations. While they are free of toxic chemicals and are seen as a healthier alternative to conventional oils, the growing trend towards natural and organic products is also raising demand for plant-based oils.
Rising prevalence of health issues including cardiovascular disease, obesity, and high cholesterol levels is driving consumer preference for plant-based oils across the globe. As they contain less saturated fat than animal-based oils, which help to maintain a healthy heart and lower the risk of chronic diseases, plant-based oils are regarded as healthier. In addition, the adaptability of plant-based oils in baking and cooking drives consumer demand, making them a preferred option for both professional chefs and home cooks.
Top Profiled Companies in the Global Plant-Based Oils for Pharmaceuticals Market Report:
- Unilever
- Cargill, Inc.
- Archer Daniels Midland Company
- Bunge Limited
- Wilmar International Limited
- Conagra Brands
- Associated British Foods plc
- Ruchi Soya Industries Ltd.
- J-Oil Mills, Inc.
- Adani Wilmar Limited
- Bio-Oil Limited
- CHS Inc.
- AAK AB
- Sunora Foods Inc.
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The global consumer goods market revenue growth is primarily attributed to factors such as the rapid increase in global population, an increasing demand for food and other essential consumer goods such as healthcare nutrition, personal care hygiene, and electronic products, and the changing lifestyles and preferences of consumers, the growing demand for packaged and processed products in food and beverage, and the growing working population. Manufacturing and packaging techniques have advanced technologically, as well as the adoption of cutting-edge technologies such as artificial intelligence, the Internet of Things (IoT), big data analytics, robotics, and automation in the consumer goods industry. Other key factors driving global consumer goods market revenues include increasing awareness of the negative environmental effects of plastic packaging, as well as a growing demand for environmentally friendly and sustainable packaging solutions. Consumer income levels are expected to rise in developing economies such as India thanks to government regulations and guidelines regarding product quality and safety.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Source Type Outlook:
- Olive
- Coconut
- Palm
- Soybean
- Canola
- Others
Application Outlook:
- Food Beverages
- Cosmetics Personal Care
- Pharmaceuticals
- Others
Key Takeaways of the Global Plant-Based Oils for Pharmaceuticals Market Report:
- A comprehensive overview of the global Plant-Based Oils industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Plant-Based Oils for Pharmaceuticals Market.
- Elaborate study of the leading regional markets in the global Plant-Based Oils for Pharmaceuticals Market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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