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Global Edible Oil Market Trend Analysis 2023
With global population growth and dietary structure changes, the demand for edible oil continues to grow. According to statistics, global edible oil production reached 210 million tons in 2022, a year-on-year increase of 3.5%. Palm oil, soybean oil, and rapeseed oil account for the major market share. It is expected that the global edible oil market will maintain an average annual growth rate of 4% in the next five years.
New National Policies Support the Development of Grain and Oil Processing Industry
Multiple departments including the National Development and Reform Commission and the Ministry of Agriculture and Rural Affairs jointly issued the "Guidance on Promoting High-Quality Development of the Grain and Oil Processing Industry," proposing that by 2025, the technological equipment level, product quality, and energy utilization efficiency of the grain and oil processing industry will be significantly improved, the industrial structure will be more optimized, and market competitiveness will be significantly enhanced.