Top Companies in Vegetable Oil Market, Detailed Overview

Market Overview:

According to vantage market research, the global vegetable oil market is expected to be valued at USD 2.52 billion in 2021 and is projected to reach a value of USD 3.73 billion by 2028 at a CAGR of 9.5% during the forecast period, 2022-2028. Vegetable oil is being used for a variety of purposes including the manufacture of soap, biodiesel, cosmetics, insecticides, and many other applications. Oil is one of the major sources of energy that is renewable over time. Its production has increased manifold due to the increase in population and increases in per capita income after the Industrial Revolution.

In a huge demand-driven industry, the world's largest vegetable oil companies are always leading. The vegetable oil industry is marked with changing tastes and preferences of the consumers. Lifestyle changes, fads, and trends – all these influences the market scenario. Consumer attitudes towards different cooking oils, sweeteners, and fats can vary along with the trends. Health considerations are also at the fore, and customers may prefer oils such as canola, soybean, and sunflower over others as these are considered to be heart-healthy.

Therefore, demand is a big driver of profits in the market. Benefits are also influenced by the cost of raw materials, access to agricultural subsidies, and operational efficiencies. This is where large corporations have the advantage of procuring raw materials on a large scale and having a massive distribution and marketing network at their disposal.

Following are the top 7 leading companies in the global vegetable oil market:

Cargill (US)

Number of Employees - 720

The American privately held company owns and markets several vegetable oil brands of hydrogenated fats such as Nature Fresh, Gemini, Acceptor, Leonardo Olive Oil, Chariot and Sunflower Brands. Cargill is based in Mechelen, Belgium, with over 720 employees.

Adani Wilmar Limited (India) 

Number of employees - 3,000

Adani Wilmar is the owner of the cooking oil brand Fortune, a joint venture between India's Adani and Singapore's Wilmar's. The company has over 40 units and a refining capacity of over 16,800 tonnes per day, which ranks it as the 9th largest vegetable oil company in the world.

Wilmar International Limited

Number of employees- 100,000

Wilmar International Limited was established in 1991 and is based in Singapore. The corporation is engaged in business activities, such as palm oil cultivation, oilseed crushing, vegetable oil refining, sugar milling and refining, manufacturing of consumer products, specialty fats, oleochemicals, biodiesel and fertilizers, and rice and flour milling. Its major segments include tropical oil, sugar, and others. It produces nitrogen, phosphorus, and potassium (NPK) compound fertilizers and is also directly engaged in the trading of fertilizers, such as potash, phosphate, nitrogen, and trace element products. It is involved in the processing, refining, sale, and distribution of oilseed products such as soybean oil and meal, sunflower seed oil and meal, cottonseed oil and meal, canola oil and meal, groundnut oil, and corn.

Bunge Ltd

Number of employees- 23,000

Established in 1881 and headquarters in New York, United States. Bunge Ltd. is an agribusiness and Food Company that processes oilseeds, produces vegetable oil and protein meal, and sells packaged vegetable oil worldwide. It primarily operates through five segments, which include Agribusiness, Vegetable Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizers.

Conagra Brands, Inc.

Number of employees- 18,600

Founded in 1919, ConAgra Foods is a packaged food company serving grocery retailers as well as restaurants and other food service establishments. Conagra Brands, Inc. (formerly ConAgra Foods) is an American consumer packaged goods holding company headquartered in Chicago, Illinois. Conagra manufactures and sells products under various brand names that are available in supermarkets, restaurants, and foodservice establishments. The valuation of the company as of September 2021 was in terms of the market capitalization of $16.4 billion.

The Manischewitz Company (US)

Number of employees- 173

Manischewitz is a leading brand of kosher products based in the United States, known for its matzo and kosher wines. Founded in 1888, it became a public corporation in 1923 and remained under family control until 1990, when it was purchased by a private equity firm. On April 7, 2014, Crisis Advisors, an arm of private equity firm Bain Capital, purchased the company from a group that included investment firm Harbinger. It is the world's largest matzo producer, one of America's largest kosher brands, and the first US exporter of matzo.

Waitrose & Partners(UK)

Number of employees- 52,590

Waitrose & Partners (formally Waitrose Limited) is a British supermarket brand, founded in 1904 as White, Rose & Taylor, later shortened to Waitrose. It was acquired in 1937 by the employee-owned retailer John Lewis Partnership, which still sells groceries under the brand. Its head offices are located in Bracknell and Victoria, England. Waitrose & Partners has 332 stores in the United Kingdom, including 65 "Little Waitrose" convenience stores, and accounts for 5.1% of the groceries market, making the company the eighth largest retailer of groceries in the UK. They also export products to 52 countries and have locations in the Middle East.

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