Global Fats and Oils Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at 4.42% through 2020 to 2026, reaching nearly US$ XX Mn.
The Global Fats and Oils market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Fats and Oils report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Fats and Oils Market Overview:
Fats and oils are achieved through plant and animal sources that become the most important part of our diet to uphold the body temperature and absorb nutrients by providing energy. They are progressively used in the markets where the feeding of processed foods is rising. The intake of high-quality vegetable oils and fats is an opening for the key players to innovate and bring changes to their current product portfolio. The global oil market is expected to grow at a compound annual growth of 5.1% in the forecast period and reach USD$ 30.79 billion by 2026.
The global fats and oils market is projected to confidently influence over the forecast period on account of changing consumer dietary habits. Cumulative processed food consumption coupled with high-quality edible oil demand is expected to have a positive impact on the global market. Growing health consciousness and rising disposable income in developing markets are reputed to further strengthen the global market. Growing fast food and suitability food consumption is expected to fuel fats & oils demand over the forecast period.
Global Fats and Oils Market Dynamics:
The food industry dominated the fats & oil applications while a modification towards industrial, chemical, personal care, animal feed, and pharmaceutical applications is expected to gain drive over the future. Growing health concerns owing to unnecessary fats & oil consumption are anticipated to basket the global fats & oils market growth. Regulations governing food safety and labelling issues are acknowledged to further delay the market growth. High raw material prices are expected to undesirably influence market growth forecasts. Accumulative R&D to develop trans-fat substitutes and innovative applications such as bio-diesel production promise abundant opportunities for the fats and oils market participants
Fats and oils have enlarged distinction as feed products due to the health benefits postured by them for poultry and cattle. Fats and oils are enhanced supplements that assurance nutritional balance while minimizing feed costs. Therefore, these are added as feed products to reduce the occurrence of bloat and energy density in the feed. Moreover, fats and oils are finding uses in various manufacturing areas. They are now being used in industries, such as paints, and paper, lubricants, as a sustainable method of production, without relating chemical ingredients.
Rising feasting of animal products which in turn driving demand for high-quality edible fats & oils product and processed food, and changing in consumer eating habits are the factors which are imagining to boost the demand of fats & oils market over the forecast period. Moreover, mounting demand for substitute biodiesel fuel in the transportation sector and swelling overall population worldwide are witnessing the advanced opportunity for the fats & oils market. However, snowballing health concern such as heart-related disease and obesity owing to excessive consumption of fats & oils rising excellence standards, stringent government regulations for food safety and growing environmental worry may hamper the growth of the fats & oils market in immediate future.
Global Fats and Oils Market Segment Analysis:
By Type, the segment is bifurcated into oils type and fat type. Further Oil type is segmented into palm oil, soybean oil, rapeseed oil, sunflower oil, olive oil, others. Based on oil type, palm oil has appeared as the most extensively used vegetable oil for edible purposes, chiefly in China, which is one of the principal consumers of vegetable oils.
The demand for palm oil is growing, for the reason of the upsurge in industrial applications such as biodiesel and oleochemicals. Based on fat type, the butter & margarine segment accounted for the largest market share in 2015. The global demand for butter is advanced when compared to that for margarine, due to the growth in fondness for natural products such as butter. Factors such as a change in customer behaviours and value difference between butter & margarine also motivate the demand for butter.
By Form, the segment is bifurcated into solid and liquid. The liquid segment is dominating the market since 2018. And is predictable to be the fastest-growing segment as oils are largely expended for cooking purposes and in biodiesel, where the liquid form is ideal over solid. The crystalline form of the fat has a marked effect on the melting point and the presentation of the fat in numerous applications in which it is utilized.
Global Fats and Oils Market
By Source, the segment is bifurcated into vegetables and animals. The vegetable oil market is evaluated to grow at a CAGR of 1.9% to reach intakes of 171 million metric tons in 2017. The global animal fat market is supported by the global fat and oil market, which has extended a value of nearly USD 226.9 billion in 2020. The market is directed by the palm oil segment at the global level, fundamentally driven by the Indian and Chinese markets. Vegetable oils will stand to be the top-selling product in the market, in terms of value. Demand for vegetable oils will mainly be powered by the beginning of high-grade products on the back of recent advances in their production processes. Increasing consumption of animal-based products will also endorse the adoption of edible vegetable oils in the near future.
Global Fats and Oils Market
By Application, the segment is bifurcated into food use and industry use. Fats and oils are employed for both industrial use and food use across the world. Fats & oils have a wide range of application in industries such as food, oleochemicals, energy, and biodiesel. Varieties of fats & oils such as higher-oleic varieties of rapeseed oil and sunflower oils are used in snacks and baked goods, while high-oleic soybeans are now more broadly commercialized. The snack industry has rapidly approved high-stability liquid oils, as they represent decidedly functional replacements aimed at moderately hydrogenated ingredients.
Global Fats and Oils Market Regional Insights:
Asia-Pacific excluding Japan (APEJ) is anticipated to continue the chief revenue funder to the global fats and oils market. China and India will continue the most rewarding countries in APEJ for the growth of the market. The end-use of fats and oils in Europe diverges across its countries. For illustration, biodiesel application accounts for a major share of Germany’s market growth, while food application continues to be a major application of fats and oils in France. Europe is projected to account for a major portion of the global fats and oils market’s revenue share during the forecast period.
The United States is a major probable market in the world, owing to its high consumption and exports of oils. The country is the world’s largest producer of soybean and almost half of the total crops is processed domestically into soybean meal and oil. The country is also the largest exporter of soybean oil, followed by rapeseed oil. With the rising healthcare expenditure, increasing cognizance about various cardiovascular diseases, and rise in obesity rates, the consumers are switching to healthier vegetable oil options, such as olive oil and canola oil, as these oils are free from trans-fat. In addition, they have low saturated fat and have high omega-3 fatty acids. Moreover, vegetable oil is considered to be a healthier alternative to animal fats, as they contain more unsaturated fatty acids.The objective of the report is to present a comprehensive analysis of the global Fats and Oils market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Fats and Oils market dynamics, structure by analyzing the market segments and project the global Fats and Oils market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Fats and Oils market make the report investor’s guide.
Global Fats and Oils Market Scope: Inquire before buying
Global Fats and Oils Market
Global Fats and Oils Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Global Fats and Oils Market Key Players
• Associated British Food Plc
• Ajinomoto Co. Inc.
• United Plantations Berhad
• Bunge Limited
• Archer Daniels Midland Company
• Wilmar International Limited
• International FoodStuff Company Limited
• Cargill, Inc.
• Fuji oil Holding Inc.
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