According to study, “Global Edible Oils and Fats Market Size study, by Type (Vegetable & Seed Oil, Spreadable Oils & Fats, Olive Oil, Cooking Fats, Others), by Source (Plant, Animals), by Form (Liquid, Solid), by Distribution Channel (Supermarket, Hypermarket, Convenience Stores, Departmental Stores, Online Store) and Regional Forecasts 2018-2025” the major companies currently operating in the edible oils and fats market are Adani Wilmar Ltd., Archer Daniels Midland Company, Mother Dairy, Ruchi Borges Mediterranean Group, American Vegetable Oils Inc, Jiusan, tNalco, Mgo Chew Hong, Chinatex Corp., Marico, Cargill Inc., International Foodstuff Company Ltd., Beidahuang Group, Oil Mils Inc., United Plantations Berhad, The Savola Group, Fuji Vegetable Oil Inc., Associated British Foods plc, Unilever plc, Wilmar International Ltd., Rasoya Protein Ltd., IBT Foods Ltd., ConAgra Foods Inc., Ajinomoto Co. Inc, Bunge Limited, CHS Inc.
Edible oils are naturally occurring oil endures refining process facilitating the produce pure, light-colored and odorless edible oil. The edible oils are the fats that esters carboxylic acids & glycerols. Used in cooking to get better taste & giving a good texture. The edible oils provide benefits such as giving a beautiful hair, good for skin, promoting the heart health, boosting energy, strengthening immune system, giving a suggested nourishment which improves digestive system.
Based on type, global edible oils and fats market is segmented into spreadable oils & fats, vegetable & seed oil, cooking fats, olive oils and others. The spreadable oil include margarine and butter. The vegetable & seed oil includes palm oil, soybean, canola oil, sunflower oil and others. Based on fatty acids, market is segmented into saturated fatty acids, polysaturated fatty acids, and monosaturated fatty acids. The saturated fats augment the body cholesterol levels, while monosaturated & polysaturated fats are liable to lower cholesterol level in body. Based on source segment, the market is segmented into animals and plants. Based on form, market is segmented into solid form and liquid form. Moreover, based on application market is segmented into animal feed, RTE foods, table consumption, biodiesel, savory snacks, bakery & confectionary and other applications.
The global edible oils and fats is primarily driven by the rising health awareness among individual, followed by increase in popularity of processed & packaged food products, rising adoption of vegan life style, increase in number of restaurants & hotels which led to rise in demand for naturally sourced product. Apart from benefits, high cost of raw substance in the production of oil & fats product to remain the limiting factor of the market. In addition, rapidly expanding end-use industries expected to remain a biggest opportunity for the market.
Globally, Asia-pacific holds the major market share due to high consumption cost of edible fat & oil coupled with increase in population. European also contributes to a key growth rate in the market due to changing lifestyles & increasing awareness of vegetable health assistance. North American region is expected to show a higher growth rate owing to increase in consumer preference for the fit & nourishing foods containing oil and rising healthcare expenditure. It is estimated that the global edible oils and fats market is valued US $95.7 billion (by revenue) in 2018 and is expected to reach US $158.7 billion by 2025 at a CAGR of 7.5% over the forecast period.
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Ankur Gupta, Head Marketing & Communications