Global Vegetable Oils Market 2025

Vegetable Oils Market Size

In 2022, the global vegetable oils market increased by X% to $X, rising for the third year in a row after seven years of decline. Over the period under review, consumption showed a noticeable downturn. Over the period under review, the global market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vegetable Oils Production

In value terms, vegetable oils production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced contraction. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. Over the period under review, global production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Vegetable Oils Exports

Exports

In 2022, approx. X tons of vegetable fats and oils were exported worldwide; with an increase of X% against the year before. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the global exports failed to regain momentum.

In value terms, vegetable oils exports rose sharply to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Malaysia (X tons) was the major exporter of vegetable fats and oils, generating X% of total exports. It was distantly followed by Indonesia (X tons) and China (X tons), together comprising a X% share of total exports. The following exporters - the Netherlands (X tons) and Germany (X tons) - together made up X% of total exports.

Malaysia experienced a relatively flat trend pattern with regard to volume of exports of vegetable fats and oils. At the same time, China (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. By contrast, Germany (X%) and the Netherlands (X%) illustrated a downward trend over the same period. While the share of Indonesia (X p.p.) and China (X p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Malaysia (X p.p.), Germany (X p.p.) and the Netherlands (X p.p.) displayed negative dynamics.

In value terms, Malaysia ($X), Indonesia ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of global exports.

Among the main exporting countries, China, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the average vegetable oils export price amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other global leaders experienced more modest paces of growth.

Vegetable Oils Imports

Imports

In 2022, supplies from abroad of vegetable fats and oils increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, global imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, vegetable oils imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons), distantly followed by Malaysia (X tons) represented the main importers of vegetable fats and oils, together mixing up X% of total imports. The following importers - Germany (X tons), Denmark (X tons), Nigeria (X tons), Poland (X tons), Vietnam (X tons), Algeria (X tons), Thailand (X tons), Belgium (X tons), Afghanistan (X tons), Uzbekistan (X tons) and the Netherlands (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to vegetable oils imports into China stood at X%. At the same time, Malaysia (X%), Nigeria (X%), Vietnam (X%), Uzbekistan (X%) and the Netherlands (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. Poland and Denmark experienced a relatively flat trend pattern. By contrast, Belgium (X%), Algeria (X%), Thailand (X%), Germany (X%) and Afghanistan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Malaysia, Uzbekistan and Nigeria increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported vegetable fats and oils worldwide, comprising X% of global imports. The second position in the ranking was taken by Germany ($X), with a X% share of global imports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China stood at X%. In the other countries, the average annual rates were as follows: Germany (X% per year) and Malaysia (X% per year).

Import Prices by Country

The average vegetable oils import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable oils import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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