This brief article is a continuation of the overview we did of edible oils with the biggest market share. If you want an inside scoop on the edible oil industry, read 15 Most Consumed Edible Oils In The World.
8. Corn Oil
Latest Annual Consumption: 3.38 million metric tons
Corn or maize oil Corn oil is extracted from the germ of corn kernels and is a specialty of the United States. As the US is a colossal producer of corn, it naturally dominates the corn oil market. Also, China, Brazil, and South Africa have high production of corn oil. Its versatility extends beyond the kitchen, as it’s also used in margarine, soaps, and even some biofuels.
7. Cottonseed Oil
Latest Annual Consumption: 5.513 million metric tons
China, India, and Pakistan produce the most cottonseed oil since they are the major growers of cotton plants. The oil is lauded for its neutral taste and is frequently used in processed foods and frying. Beyond edibility, it’s also employed in the cosmetic and soap-making industries.
6. Peanut Oil (Groundnut Oil)
Latest Annual Consumption: 6.512 million metric tons
Peanut or groundnut oil is a specialty of China, India, and Nigeria. It is a favorite for deep-frying and stir-frying because it offers a delightful nutty flavor. Economically, the oil’s culinary popularity ensures a sustained demand, especially in Asian cuisines. Moreover, its stability at high temperatures is invaluable for different cooking techniques that need oils with high smoke points.
5. Palm Kernel Oil
Latest Annual Consumption: 8.013 million metric tons
Palm kernel oil owns a major percentage of the global edible oil market, currently valued at $47.74 billion. Notably, it is distinct from palm oil as it comes from the kernel or seed of the fruit of the oil palm tree. Indonesia and Malaysia are synonymous with palm kernel oil production as they are the epicenter of the palm industry. This oil also has extensive use in confectioneries, baked goods, and, notably, in non-food applications like personal care products.
4. Sunflower Seed Oil
Latest Annual Consumption: 20.83 million metric tons
Sunflower seed oil is the 4th most consumed edible oil in the world, owing to its light nature. It is pressed from sunflower seeds and cherished for its frying aptness. Also, because of their vast sunflower farms, Russia and Ukraine are this oil’s biggest producers. Argentina, Turkey, and Hungary are notable countries in sunflower oil production. The oil’s rich vitamin E content has made it a health-centric choice for many consumers.
3. Rapeseed Oil (Canola)
Latest Annual Consumption: 28.15 million metric tons
Canola oil is probably the most commonly heard of cooking oil, but in terms of annual consumption, it comes 3rd. Canada leads in cultivating the low erucic acid variety (canola) oil, followed by China, India, and France. Rapeseed oil’s low saturated fat content and heart-healthy impact have amplified its popularity among health-conscious consumers.
2. Soybean Oil
Latest Annual Consumption: 75.39 million metric tons
Soybean is economically the most crucial edible oil as it has found a way into alternative fuel production, i.e., green diesel. The oil is derived from the soybean plant, which grows the most in China, the US, Brazil, and Argentina. Soybean oil has industrial applications, notably in producing biodiesel, paints, and inks.
1. Palm Oil
Latest Annual Consumption: 75.98 million metric tons
Palm oil is the most heavily consumed edible oil, distinguished by its reddish hue and semi-solid state at room temperature. Indonesia and Malaysia are at the forefront of palm oil as these nations have crafted a substantial part of their agricultural and economic strategies around the palm industry.
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