The edible oil packaging market size is projected to rise from USD 5,353 million in 2023 and it is expected to surpass USD 9,336.3 million by 2033. The edible oil packaging industry is expected to rise at a significant CAGR of 5.7% during the forecast period.
The factors propelling the demand for edible oil packaging include:
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Due to growing environmental concerns, key players are offering ecological alternatives for toxic pollutant raw materials. Hence, they are investing heavily in the research and development of bio-degradable substitutes; that cause no harmful effects on the ecosystem.
Increasing environmental awareness among consumers has compelled manufacturers to switch from traditional pollutant materials to recyclable and sustainable raw materials such as Polyethylene Terephthalate (PET), HDPE (Low-Density Polypropylene), and other 100% recyclable plastics, which are not harmful to the environment.
The adoption of sustainable raw materials offers lucrative growth opportunities for manufacturers, helping them expand their consumer base. This creates opportunities for the expansion of the edible oil packaging market.
Government authorities for trade and commerce are favoring edible oil manufacturers, along with exporters by reducing the tariffs on the export and import of oils, categorizing them under essential consumable items.
The Government of India has made the export of all edible oils free except mustard oil without any quantitative ceiling and pack sizes. Such initiatives from the government are likely to boost the exports of edible oils in India in the coming future.
Statutory provisions favoring exports and free trade of edible oils without any restrictions on packaging sizes are likely to result in greater demand for edible oil packaging solutions of all sizes.
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Large-scale producers in the food industry are engaged in food processing that require all essential ingredients in larger quantity. Using small quantity packaging for spices, vegetables and oil might result in increased transportation overheads for these manufacturers.
To overcome the long-standing problem for food industry players, key players from the packaging industry introduced bulk packaging solutions. These solutions also facilitate easy and damage-free transportation of edible oils for large industrial and institutional users.
Large-sized packaging solutions including drums, cans, and jerry cans that carry more than 5 liters of edible oil, are mainly made up of steel and plastic and are trending in the market. Hence, the adoption of these packaging solutions to reduce transportation cost are stimulating market growth.
| Attributes | Details |
|---|---|
| Edible Oil Packaging Market CAGR (2023 to 2033) | 5.7% |
| Edible Oil Packaging Market Size (2023) | USD 5,353 million |
| Edible Oil Packaging Market Size (2033) | USD 9,336.3 million |
As the adoption of packaged foods continues increasing along with the expansion ofthe food processing industry, the demand for various essential ingredients such as cooking (edible) oil, spices, and dairy products is anticipated to surge.
| Particulars | Details |
|---|---|
| Jan–Jun (H1), 2021 (A) | 3.3% |
| Jan–Jun (H1), 2022 Projected (P) | 3.1% |
| Jan–Jun (H1), 2022 Outlook (O) | 3.5% |
| BPS: H1,2022 (O) - H1,2021 (A) | 20 |
| BPS: H1,2022 (O) - H1,2021 (A) | 40 |
The market is anticipated to rise at a CAGR of 5.7% from 2023 to 2033, surpassing USD 9,336.3 million by 2033.
Short term (2022 to 2025): The global population is constantly on the rise, and so is the disposable income of people. With more disposable income, people can afford packaged food products, which has led to a rise in demand for edible oil packaging. This trend is expected to continue in the forecast period, as more and more people are becoming part of the middle class and can afford packaged food products.
Medium term (2025 to 2028): A recent change in the lifestyle of consumers has contributed to the growing demand for consumables with added preservatives with longer shelf life. With the expansion of the food industry, sales of edible oil have recorded a sharp rise across the globe. Demand for ready-to-eat foods, along with frozen foods is anticipated to increase the consumption of edible oil globally, resulting in high demand for edible oil packaging solutions.
Long term (2028 to 2032): As people are becoming more health-conscious, there is a growing demand for healthier cooking oils such as olive oil and canola oil. Consumers are increasingly opting for these oils, which are perceived to be healthier than other oils.
This trend is expected to continue in the forecast period, as more and more people are becoming aware of the health benefits of these oils. In addition, the increasing popularity of Mediterranean and other healthy diets is also driving the demand for these oils. As a result, the demand for packaging to store and transport these oils is also on the rise.
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The United States edible oil packaging industry is projected to hold over 20.4% share, surpassing USD 1,054.5 million by 2033.
According to the Federal Food Drug and Cosmetic Act, materials used for packaging any type of food item must comply with the safety standards set by Food and Drug Administration, and it should not release harmful contamination when it comes to direct contact with the food item.
The requirement for food-grade materials for the production of edible oil packaging solutions in the country is fueling the demand for packaging solutions.
Packaging solutions made from FDA-approved food-grade materials such as aluminum, high-density polyethylene (HDPE), and glass are declared safe for coming in direct contact with edible oils and other consumable items.
Statutory regulations regarding strict laws of quantity to be filled in a specific container carrying edible oils, either for storage or transportation have encouraged manufacturers to use recycled raw materials to produce edible oil packaging solutions.
Owing to these factors, the United States is expected to be the largest market for edible oil packaging solutions in North America. Expansion of ready-to-eat foods & packaged food industries also are aiding the expansion of the edible oil packaging market in the country.
The United Kingdom edible oil packaging industry is anticipated to rise at an average CAGR of 3.18%during the forecast period, reaching USD 219.9 million by 2033.
The North West region of the United Kingdom is expected to see a significant increase in demand for edible oil packaging due to the presence of a large number of food processing and manufacturing companies. Similarly, the South East region is also expected to witness strong growth due to the high population density and a large number of health-conscious consumers. The East and West Midlands are also expected to see an increase in the adoption of edible oil packaging due to the presence of a large number of food processing and manufacturing companies in these regions.
The presence of key manufacturers introducing innovative edible oil packaging solutions made from sustainable raw materials offering 100% recyclability is accelerating the demand.
In 2022, Germany accounts for approximately 4.1% of sales of edible oil packaging solutions in Europe. The market value of edible oil packaging solutions in Germany is estimated to reach USD 211.6 million over the forecast period.
The European Union has imposed a ban on the usage of all types of single-use plastics, including food & beverages containers made up of expanded polystyrene and packaging products made up of Oxo-degradable plastics, to reduce the hazardous impact of such toxic materials on the eco-system.
Key players in the edible oil packaging market have come up with a variety of sustainable packaging solutions made up of aluminum, paper & paperboard, such as metal cans, and bag-in-box to comply with the latest regulations imposed by regulatory authorities.
As per FMI, the sales of edible packaging solutions in India are anticipated to register a CAGR of 9.35% during the forecast period. The rise in consumption of edible oils by the food and pharmaceutical sectors in India is expected to propel the market to surpass USD 417.7 million by 2033.
According to the Food Safety and Standards Authority of India (FSSAI), all packaging containers used for packaging edible oils and fats should comply with the standard premium grade quality set by the Bureau of Indian Standards (B.I.S) Standards. These regulations are aimed at encouraging the use of sustainable raw materials for producing recyclable edible oil packaging in India.
Government policies encouraging exports and manufacturing units located in various special economic zones enjoying several tax benefits are creating a conducive environment for key players to increase their production capabilities and provide cost-effective packaging solutions. Ease of doing business in the country is attracting global packaging industry players to India.
China's edible oil packaging industry is projected to rise at a CAGR of 9.18%, surpassing USD 701.3 million by 2033.
According to the United States Department of Agriculture (USDA), China is the largest producer and consumer of soybean oil, and the second-largest producer of edible oils across the globe. China also exhibits the highest consumption of all types of edible oil among all countries globally.
As a result of large-scale production, the demand for edible oil packaging solutions has increased in recent years. Also, the easy availability of the latest technologies and access to cheaper raw materials to produce packaging solutions are propelling market growth. In addition, the availability of low-cost labor is expected to make China one of the fastest-growing markets across East Asia.
The drum segment accounts for an 85.7% share of packaging solutions in 2022 and is anticipated to register growth at 5.9% CAGR between 2023 and 2033.Drums are made up of steel and plastics that are durable for transporting edible oils for long distances and have the strength to with stand the weight of edible oils stored in them.
As the packaging in drums does not release any harmful chemicals into the packaged oils when exposed to the higher temperature of harsh weather conditions, they are considered the preferred packaging solution for edible oils.
Most packaging industry manufacturers produce drums in compliance with international safety standards and having superior quality making them best suited for exports of edible oils across the globe.
Global players are aiming for expansion in developing regions with drums made up of sustainable raw materials offering easy re-usability. It is estimated to offer a total incremental opportunity of USD 3.4 billion over the upcoming decade.
As per FMI, plastic is expected to be used for manufacturing 42.9% of edible oil packaging solutions in 2022. Several packaging solutions such as bottles, pouches, drums, cans, and bag-in-box solutions are made up of using food-grade plastics, which are declared safe by regulatory bodies such as the Food and Drug Administration (FDA).
Manufacturers are focusing on the increased usage of eco-friendly plastics which are 100% bio-degradable or recyclable to position themselves as sustainable packaging producers.
Alongside this, plastic is easily available to producers at cheaper rates compared to aluminum and glass, which is resulting in increased its increased sales. According to Future Market Insights, the plastic segment is expected to register the highest growth, reaching USD 1.5 billion over the forecast period.
In advanced retail facilities, the size and look of the package stimulate the consumer to make a buying decision. Hence, a packaging solution of 501-1000 ml is the most preferred by consumers.
By sales volume, demand for 501 to 1000ml capacity is estimated to expand 1.6x between 2023 and 2033.
Due to changes in lifestyle and consumption patterns, people prefer to buy smaller quantities of daily essentials. Among these, edible oil packaging solutions between 501 to 1000ml with attractive graphics and eye-catching shapes are gaining traction among the millennial.
In addition, edible oil packages having a capacity between 501 to 1000ml are easy to carry, offer easy storage to retailers, and do not pose logistical challenges for the supply chain partners.
501 to 1000ml edible oil packaging segment is anticipated to create a total incremental opportunity of USD 1.7 billion over the next decade.
In terms of oil type, palm oil is expected to lead the segment, as it is the most produced, consumed, and internationally traded edible oil in the world.
As per FMI, palm oil type accounts for approximately 21% of edible oil sales across the globe in 2022.
Palm oil is a necessary ingredient used in diverse end-use sectors such as food & beverages, pharmaceutical, cosmetics, and personal care, biofuel, and energy industries. In addition to that, palm oil is witnessing high demand due to its usage in the production of animal feed.
Technological innovations have allowed manufacturers to produce biodiesels using palm oil. This is projected to result in greater demand for edible oil packaging solutions for both industrial and household uses. The palm oil segment is anticipated to register growth at 5.2% CAGR over the decade.
Companies operating in the edible oil packaging market are investing heavily in research & development activities to develop innovative edible oil packaging solutions, to cater to the advanced retail and manufacturing industry needs.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value, Million Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; the Middle East; and Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Russia, GCC Countries, South Africa, China, Japan, India, Australia |
| Key Segments Covered | Packaging Type, Material, Capacity, Oil Type, and Region |
| Key Companies Profiled | Tetra Pak International S.A.; Berry Global Group Inc; Scholle IPN Corporation.; Glenroy, Inc.; Crown Holdings, Inc; Sealed Air Corporation; DS Smith Plc; Smurfit Kappa Group; Technocan S.A.; Amcor Plc; ASA Group; Colep Packaging; Vetropack Holding Ltd; Baralan International S.p.A.; Vidrala, S.A.; Uflex Ltd; TPAC Packaging India Private Limited (Sunpet); Neo Sun Industries Limited; Duropack Industries; Parekhplast India Limited |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is expected to secure a valuation of USD 5,353 million in 2023.
The market is forecast to register a CAGR of 5.7% through 2033.
The United States market is poised to hold over 20.4% share through 2033.
In 2022, Germany accounted for 4.1% of sales of the market in Europe.
The global market size is projected to reach USD 9,336.3 million by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Packaging Type 5.1. Bottles 5.2. Pouches 5.3. Jerry Cans 5.4. Drums 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 6.1. Plastic 6.2. Glass 6.3. Aluminium 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capacity 7.1. 50 to 500 ml 7.2. 501 to 1000 ml 7.3. 1001 to 5000 ml 7.4. Above 5000 ml 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Oil Type 8.1. Soybean Oil 8.2. Coconut Oil 8.3. Olive Oil 8.4. Cottonseed Oil 8.5. Peanut Oil 8.6. Mustard Oil 8.7. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Amcor plc 17.2. WestRock Company 17.3. Silgan Holdings Inc. 17.4. Tetra Pak International S.A. 17.5. Toyo Seikan Group Holdings, Ltd. 17.6. Parksons Packaging Ltd. 17.7. Cellpack AG Packaging 17.8. AR Packaging Group AB 17.9. Bemis Company, Inc. 17.10. Sealed Air Corporation 17.11. DS Smith Plc 17.12. ASA Group 17.13. NEO Sun Industries Limited 17.14. Duropack Industries 18. Assumptions & Acronyms Used 19. Research Methodology
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Edible Oil Packaging Market
