The UAE Edible Oil is proliferating at a rapid rate owing to the major factors such as boost in the consumption of fried foods, rising consumer preferences for healthy edible oil, and changing dietary habits of consumers. Moreover, strong growth in the retail sector, growing health-related awareness among people, increasing popularity of canola oil, and a paradigm shift of the customers toward the olive oil are strongly contributing toward the growth of the market in the forecast period.
According to MarkNtel Advisors’ research report titled “UAE Edible Oil Market Analysis, 2020”, the UAE Edible Oil market is anticipated to grow at a CAGR of 2.5% during 2021-26F. Based on Type, Vegetable oil acquired the considerable market share in the UAE edible oil market in 2019. Canola oil acquired the majority market share in the vegetable oil segment. The growth is attributed to rising import of canola oil, growing population, along with burgeoning demand of trans-fat free oils rise and increase in household income. However, the demand for soyabean oil is increasing at a significant rate due to growing health awareness among people, burgeoning demand for soyabean oil as it is high in polyunsaturated fats and low in saturated fats, and a good source of linolenic acids. Moreover, Palm oil is also gaining popularity in the UAE at a steady rate due to its rising demand from both food and non-food industries.
“UAE Edible Oil Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Edible Oil providers across the country. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Dubai Dominated the Market Share
Dubai dominated the market in 2020 and is projected to maintain its dominance over the forecast period 2021-26F. The growth is accredited to a rising disposable income, rapid urbanization, and burgeoning popularity of low-calorie content oil among consumers. Moreover, escalating penetration of coconut oil, increasing demand for edible oil in food industries due to booming populace and significant growth in food & beverage market due flourishing tourism industry are anticipated to lead to an optimistic impact toward the growth of UAE Edible Oil market as stated in MarkNtel Advisors’ research report " UAE Edible Oil Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the UAE Edible Oil market are Iffco Group, Rafael Salgado S.A., Abu Dhabi Vegetable Oil, Co., Near East Olive Products, Cargill, Incorporated, Amira Nature Foods Ltd, Omani Vegetable Oils & Derivatives Co. LLC., AJWA Group, Archer-Daniels-Midland Company, Sime Darby Plantation Berhad etc.
Key questions answered in the study