The report titled “China Cooking Oil Market Prospects to 2018 - Upgrading Agro-Economic System to Forerun Market” presents a comprehensive analysis of the industry covering aspects including market size by volume sales, value and market segmentation by production, supply, consumption, retail sales of cooking oil. Additionally, market dynamics of soybean, rapeseed, peanut, cottonseed, sunflower seed, palm and coconut oil is covered extensively.
The report also entails a detailed description on the recent trends and developments, imports &exports, persistent challenges in the market and the competitive scenario of major players in the industry along with their brand wise market shares.
Globally, China is the world’s largest consumer of oilseeds and cooking oil. China cooking oil market has been affected by surging demand, government legislations and regulations, predominant challenges pertaining to agricultural practices and consumption, transition to increasing urbanization, price trends and distribution network. The market has registered a CAGR of 5.1% during the period MY’2009-MY’2013 by rising supply of cooking oils from thousand tons in MY’2009 to thousand tons in MY’2013. Soybean oil accounted for % of the total production output followed by rapeseed and peanut oil with 24.8% and % of the total crushed oilseeds respectively. During the period MY’2010 to MY’2013 the overall consumer expenditure on cooking oil has swelled at a CAGR of %, thereby heaving to total revenues of USD billion during this period.
China is one of the world's largest importers of oilseeds and cooking oil. The country imported thousand tons of oilseeds while thousand tons of cooking oil in MY’2013. The export of oilseeds in China was already at a very low level. Additionally the exports to other countries has dropped down at a plummeting CAGR of % during the period MY’2009-MY’2013. The government of China aspires to develop environmentally friendly market for sustainable palm oil. Moreover, to stimulate lagging production of major oilseeds such as soybean, the government executed a soybean oilseed production support program.
China cooking oil market is concentrated with only a few major players operating majority of the business space. Wilmar International is the leading company operating in China cooking oil market. China National Cereals, Oils and Foodstuffs Corporation (COFCO) and Shandong Luhua Group are other dominant companies which produce and distribute edible oils in China. The top 5 brands make up nearly % of the total sales in the year 2013. Jinlongyu brand is the most popular cooking oil brand which has accounted for approximately % of the total market share on the basis of retail sales in China in the year 2013. The flagship brand of Shandong Luhua Group is known for its premium quality has eventually captured % of the cooking oil market in China in 2013.
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China cooking oil market is estimated to witness thousand tons of consumption of cooking oil in MY’2018. The future of China cooking oil market is expected to be favorable on account of continuing government support to enhance production and decrease adulteration; anticipated use of better and adequate production tools, enhanced agronomic practices followed with substantial improvement in technology resources and input quality. The cooking oil market in China is augmented to grow at a minimal yet increasing CAGR of % during the forecast period MY’2013-MY’2018.
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