South Korea Edible Oil And Fats Market Size & Outlook
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- Consumer Food & Beverages
- Edible Oil And Fats Market Outlook
- Consumer Food & Beverages
South Korea Edible Oil And Fats Market, 2018-2030 (US$M)
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South Korea edible oil and fats market highlights
- The South Korea edible oil and fats market generated a revenue of USD 14,419.7 million in 2022 and is expected to reach USD 24,214.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.7% from 2023 to 2030.
- In terms of segment, edible oil was the largest revenue generating product in 2022.
- Edible Oil is the most lucrative product segment registering the fastest growth during the forecast period.
Edible oil and fats market data book summary
| Market revenue in 2022 | USD 14,419.7 million |
| Market revenue in 2030 | USD 24,214.8 million |
| Growth rate | 6.7% (CAGR from 2022 to 2030) |
| Largest segment | Edible oil |
| Fastest growing segment | Edible Oil |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Edible Oil, Edible Fats |
| Key market players worldwide | Archer-Daniels Midland Co, Cargill, Bunge Global SA, Nisshin Oillio Group Ltd, Kaneka Corp, Associated British Foods PLC, Grain Processing Corporation, Adani Wilmar, Borges, Apetit Group |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.1% of the global edible oil and fats market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China edible oil and fats market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 29,967.6 million by 2030.
The most widely used edible oil in South Korea is palm oil. Palm oil is mostly employed in the production of quick noodles and snacks, while soybean oil is primarily employed in salad/cooking applications.
Perilla oil, sesame oil, and rapeseed oil are only a few of the different types of fats and oils that are produced in Korea in small quantities. The amount of fats and oils consumed overall in Korea has been gradually rising in recent years.
This is attributed to the development of new products, particularly instant noodle products. At the same time, the number of people concerned about health and wellness diets is rising. Increasingly well-off consumers are influenced by healthy lifestyles and are willing to pay more for specialty oils.
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Edible Oil And Fats Market Scope
Edible Oil And Fats Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Associated British Foods PLC | View profile | 133,000 | 10 Grosvenor Street, Weston Centre, London, United Kingdom, W1K 4QY | www.abf.co.uk |
| Archer-Daniels Midland Co | View profile | 41,802 | 77 West Wacker Drive, Suite 4600, Chicago, IL, United States, 60601 | www.adm.com |
| Cargill | View profile | 10001+ | Minneapolis, Minnesota, United States, North America | www.cargill.com |
| Grain Processing Corporation | View profile | 1001-5000 | Muscatine, Iowa, United States, North America | www.grainprocessing.com/ |
| Bunge Global SA | View profile | 23,000 | 1391 Timberlake Manor Parkway, Chesterfield, MO, United States, 63017 | www.bunge.com |
| Nisshin Oillio Group Ltd | View profile | 3,357 | 1-23-1, Shinkawa, Chuo-ku, Tokyo, Japan, 104-8285 | www.nisshin-oillio.com |
| Kaneka Corp | View profile | 13,284 | 3-2-4, Nakanoshima, Kita-ku, Osaka, Japan, 530-8288 | www.kaneka.co.jp |
| Adani Wilmar | View profile | 1001-5000 | Ahmedabad, Gujarat, India, Asia | www.adaniwilmar.com/ |
| Borges | View profile | 51-100 | Reus, Catalonia, Spain, Europe | www.borges.es |
| Apetit Group | View profile | 501-1000 | Helsinki, Southern Finland, Finland, Europe | apetit.fi |
South Korea Edible Oil And Fats Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Edible Oil And Fats Market Outlook will help companies and investors design strategic landscapes.
Edible Oil was the largest segment with a revenue share of 75.38% in 2022.
Horizon Databook has segmented the South Korea edible oil and fats market based on edible oil, edible fats covering the revenue growth of each sub-segment from 2017 to 2030.
The most widely used edible oil in South Korea is palm oil. Palm oil is mostly employed in the production of quick noodles and snacks, while soybean oil is primarily employed in salad/cooking applications.
Perilla oil, sesame oil, and rapeseed oil are only a few of the different types of fats and oils that are produced in Korea in small quantities. The amount of fats and oils consumed overall in Korea has been gradually rising in recent years.
This is attributed to the development of new products, particularly instant noodle products. At the same time, the number of people concerned about health and wellness diets is rising. Increasingly well-off consumers are influenced by healthy lifestyles and are willing to pay more for specialty oils.
- South Korea Edible Oil And Fats Market Product Outlook (Revenue, USD Million , 2018-2030)
- Edible Oil
- Edible Fats
- South Korea Edible Oil And Fats Market Source Outlook (Revenue, USD Million , 2018-2030)
- Natural
- Synthetic
- South Korea Edible Oil And Fats Market Nature Outlook (Revenue, USD Million , 2018-2030)
- Organic
- Conventional
- South Korea Edible Oil And Fats Market Distribution Channel Outlook (Revenue, USD Million , 2018-2030)
- Offline
- Online
- South Korea Edible Oil And Fats Market End-use Outlook (Revenue, USD Million , 2018-2030)
- Food & Beverages
- Personal Care & Cosmetics
- Biofuel & Energy
- Pharmeceutical
- Others
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea Edible Oil And Fats Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into South Korea Edible Oil And Fats Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
South Korea Edible Oil And Fats Market, 2018-2030 (US$M)
South Korea edible oil and fats market statistics, by product, 2017-2030 (US$M)
