Australia Cooking Oil Market Report and Forecast 2024-2032

Australia Cooking Oil Market Outlook

The Australia cooking oil market size is expected to grow at a CAGR of 4.7% between 2024 and 2032.

Key Takeaways

• Canola and cottonseed, as Australia's primary oilseed crops, dominate local production, contributing to over 90% of the total output. The country's oilseed industry is characterised by its dynamic and diverse nature, encompassing various crops such as soy, sunflower, safflower, peanut, and linseed/linola.

• According to industry reports, Australia plays a significant role in the global canola trade, exporting over one million tonnes annually to markets including Japan, Europe, China, and Pakistan.

• Consumption trends reflect a growing preference for healthier options, particularly canola and high oleic oils, with soft oils commanding over half of the total fats and oils market share. Canola stands out as the most favoured soft oil, constituting approximately 45% of total soft oils consumption in Australia.

The cooking oil market in Australia encompasses oils extracted from plants and nuts for cooking and food preparation, rich in triglycerides comprising three fatty acids and glycerol. Common oils like olive, palm, soybean, canola, and sunflower enhance food flavour and nutritional value, providing essential vitamins and acting as a heat transfer medium for frying.

Food Standards Australia New Zealand oversees their production and distribution. Multinationals in Western Australia invest in R&D, processing, and marketing due to rising demand, supported by government investments in research, grants, and infrastructure. Despite supply chain challenges and global market volatility, the sector sees potential, especially with increasing demand for organic health-based products.

Olive and coconut oils gain traction in bakery applications for their neutral taste, while non-GMO oils like sunflower and olive witness growing demand. Palm oil, though widely used, faces scrutiny due to deforestation concerns, prompting demand for palm oil-free certifications. Australia's oilseed industry, primarily producing canola and cottonseed, exports significant volumes globally, meeting stringent quality standards and catering to various sectors, including cooking, dairy, cosmetics, and industrial applications. Industry advancements, including selective breeding programs and high-quality storage facilities, ensure Australian canola meets global standards, offering clean and high-quality products sought by health-conscious consumers and diverse industries while aiding the Australian cooking oil market development.

Market Segmentation

Australia Cooking Oil Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Palm Oil

• Soy Oil

• Sunflower Oil

• Peanut Oil

• Olive Oil

• Rapeseed Oil

• Others

Market Breakup by Application

• Bakery and Confectionery

• Snack Foods

• Salads

• Margarine, Fillings and Spreads

• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Convenience Stores

• Online Channels

• Others

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Western Australia

• Australian Capital Territory

• Others

Competitive Landscape

Companies involved this market are consistently doing innovation in product quality, variety, usage, and other attributes to maintain a strong foothold in the market.

• Plenty Foods Pty Ltd.

• Cobram Estate Olives Limited

• Koala Gold

• Grampians Olive Co.

• Alba Edible Oils 

• Others

Key Highlights of the Report

Australia Cooking Oil Market Report Snapshots

Australia Cooking Oil Market Size

Australia Cooking Oil Companies