Edible Oils & Fats Market Size

Edible Oils & Fats Market Size

The global edible oils & fats market size was valued at USD 551.7 billion in 2024 and is projected to expand to over 5.9% CAGR from 2025 to 2034. Edible oils and fats are essential components in cooking, baking, and food production, derived from plant sources (like palm, soybean, and olive oils) and animal fats (such as butter and lard). They provide flavor, texture, and nutritional value in diets.
 

The scope of the edible oils and fats market is vast, encompassing various applications in the food industry, including processed foods, snacks, and confectioneries. Growing demand for healthier options like olive and avocado oils, along with plant-based alternatives, presents significant opportunities for innovation. Additionally, rising consumer interest in organic, non-GMO, and sustainable products is driving market growth.
 

According to the USDA Foreign Agricultural Service, global vegetable oil production reached 214.75 billion metric tons in 2022, with palm oil accounting for 77.05 billion metric tons of the total production. These oils and fats, including plant-derived oils (palm, soybean, and olive) and animal fats (butter and lard), enhance flavor and texture while providing nutritional benefits in daily diets. The FAO reports that global per capita consumption of vegetable oils increased from 23.6 kg in 2015 to 25.3 kg in 2021, reflecting growing consumer demand.
 

The edible oils and fats market serves diverse applications across the food industry, particularly in processed foods, snacks, and confectioneries. The European Commission's agricultural outlook indicates that EU vegetable oil consumption is projected to reach 24.5 billion tons by 2031, driven by increased demand for healthier options such as olive and avocado oils, alongside plant-based alternatives. Consumer preferences for organic, non-GMO, and sustainable products are further expanding market opportunities, with the USDA National Organic Program reporting a 3.5% increase in certified organic operations in 2021.