Cooking Oils and Fats Market Scope
cooking oils & fats are an essential part of the modern diet. These oils & fats play a role as an energy source and offer a diet with various beneficial micronutrients. Oils and fats are used in cooking to improve taste and give good texture. The demand for cooking oils and fats is attributed to the growing demand for fried and processed food, a growing number of restaurants and fast-food joints, urbanization and increasing population. The inclination towards healthy products due to a change in societal attitudes of consumers is likely to induce the demand for healthy cooking oils.
According to AMA, the Global Cooking Oils and Fats market is expected to see growth rate of 4.5%
Research Analyst at AMA estimates that Global Vendors will contribute to the maximum growth of Global Cooking Oils and Fats market throughout the predicted period.
Cargill, Inc. (United States), International Foodstuff Company Limited (United Arab Emirates), Wilmar International Limited (Singapore), Unilever PLC (United Kingdom), Archer Daniels Midland Company (United States), Bunge Limited (United States), Associated British Foods PLC (United Kingdom), Ajinomoto Co. Inc. (Japan), ConAgra Foods Inc. (United States) and United Plantations Berhad (Malaysia) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Cooking Oils and Fats market by Type (Vegetable and Seed Oil, Spreadable Oils and Fats, Butter, Margarine, Olive Oil and Cooking Fats), by Application (Restaurant, Hotels, Household and Others) and Region with country level break-up.
On the basis of geography, the market of Cooking Oils and Fats has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In August 2018, Archer Daniels Midland Company purchased certain assets of Brazil-based Algar Agro, including oilseeds processing facilities in Uberlândia in the state of Minas Gerais and Porto Franco in Maranhão. This will enhance the company’s position in important Brazilian bottled oil markets.
Animal fats and vegetable oils are regulated under 40 CFR 112, which has identical requirements for petroleum and non-petroleum oils. Petroleum oils, vegetable oils, and animal fats share common physical properties and produce similar environmental effects. The revision clarifies that the rule applies to facilities that handle, store, or transport mainly animal fats and vegetable oils.
Market Trend
- Increasing Demand for Biodiesel
- Changing Lifestyles of Consumers Combined with Increasing Per Capita Disposable Income
Market Drivers
- The Growth in the Consumption of Cooking Oils and Fats in Households Globally
- Increase in Usage and Consumption of High-Quality Edible Oils/Cooking Oils
- Growing Consumption of Bakery & Confectionery and Processed Foods
Opportunities
- Growing Demand from Health-Conscious Population
- Rapid Growth in Raw Material Cultivation and Production
Restraints
- Health Concerns Related to Excessive Consumption of Fats and Oils
- Legislations Related to Labeling of Fats & Oil Products and Its Safety Issues
Challenges
- High Capital Investments in Extraction
Key Target Audience
Raw material suppliers/growers, Oilseed suppliers/growers, Fat and/or oil processors/manufacturers, Intermediary suppliers, End Users and Government bodies, venture capitalists, and private equity firms