This is the world's largest share of vegetable oil consumption until 2022.

Amidst the Covid-19 crisis, global vegetable oil production is estimated to have reached approximately 209.14 million metric tons in 2020/2021. Of this amount, the world's population consumes the most palm oil.

Vegetable oils are oils or fats extracted from plants. Their texture can be described as liquid, oily, and fatty. Most vegetable oils can serve two functions: they can be used as cooking oil or for fuel and biodiesel production.

The most common types include palm oil, soybean oil, canola oil, and sunflower oil. Palm oil is extracted from the fruit flesh of the oil palm, primarily found in the tropical climates of Africa, South America, and Southeast Asia. It is estimated that around 90 percent of palm oil is used for food consumption, while the remaining 10 percent is used in industries such as cosmetics or as fuel and biodiesel.

Global palm oil consumption in the last 5 years has been above 50 million metric tons. According to Statista, palm oil consumption in 2021 to 2022 year-to-date (YTD) is estimated at 73.87 million metric tons, up from 73.22 million metric tons in 2020/2021. A surge in palm oil consumption was seen before the pandemic in 2018/2019, reaching 71.15 million metric tons from 65.99 million metric tons in the previous period.

Besides palm oil, the world's population also consumes a large amount of soybean oil. A recorded 60.24 million metric tons of soybean oil were consumed globally in 2021/2022. Previously, in 2020/2021, soybean oil consumption reached 58.89 million metric tons.

In terms of consumption as a food product, vegetable oils are considered a healthier alternative as they contain more unsaturated fatty acids than animal fats. One of the most widely used cooking oils is canola oil, also known as rapeseed oil. It is obtained by extraction from rapeseed, which is first slightly heated and then crushed. Rapeseed oil, in particular, is seen as advantageous due to its higher content of omega-3 (linolenic acid) and omega-6 (linoleic acid) fatty acids and its low saturated fatty acid content.

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