DOHA: According to a new market report published by Transparency Market Research “Cooking Oil Market: GCC and Qatar Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2010–2024”. In terms of revenue, the cooking oil market in the GCC and Qatar was valued at USD 988.2 million in 2015 and is expected to reach USD 1736.1 million by 2024, growing at a CAGR of 6.6% from 2016 to 2024. In terms of volume, the market was valued at 334.8 thousand tons in 2015 and is expected to reach 685.1 thousand tons by the end of the forecast period, expanding at a CAGR of 8.4% during the forecast period.
Cooking oil is an edible form of oil that is also glycerol esters of fatty acids and may be obtained from animals, plants or even synthetically made. Corn oil, peanut oil, coconut oil, olive oil and others constitute some common types of cooking oil. It is a medium of heat-transfer that is used in frying to produce delicious cooked dishes.
Cooking oils, however, also have non-food applications as well such as the manufacturing of washing powders, personal care products and soaps among others. The oilseeds industry is a vast enterprise and almost every country across the globe produces oilseeds of a particular kind and most countries have at least one rudimentary processing industry that is engaged in the production of two basic products such as edible/cooking oil and protein meal.