About Fortified Edible Oil
Fortification in the oil is the process of adding micronutrients to edible oil to increase its nutritional value. The edible oil includes soybean, palm olein, groundnut, cotton seed, mustard, etc. It is is expected to achieve almost 99% penetration of the Indian population due to the widespread use of cooking oil. According to FSSAI, at an individual level fortified edible oil can help a person meet 25-30% of the recommended dietary intake for vitamins A and D. The micronutrients include Vitamin A, Vitamin D, Vitamin E, and Others.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 3.3% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Fortified Edible Oil market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Adani Wilmar (India), Archer Daniels Midland Company (United States), Bunge Limited (United States), Conagra Brands, Inc. (United States), BASF SE (Germany), Cargill Incorporated (United States), Nestle S.A. (Switzerland), Ruchi Soya Industries Limited (India) and Liberty Oil Mills (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Fortified Edible Oil market by Type (Palm Oil, Soybean Oil, Sunflower Oil, Olive Oil, Corn Oil, Canola Oil, Rice Bran Oil and Other Oils) and Region.
On the basis of geography, the market of Fortified Edible Oil 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). If we see Market by Nature, the sub-segment i.e. Organic will boost the Fortified Edible Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel , the sub-segment i.e. Supermarkets/Hypermarkets will boost the Fortified Edible Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Micronutrient , the sub-segment i.e. Vitamin A will boost the Fortified Edible Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Changing Lifestyle of Consumers
Market Growth Drivers:
Health Benefits of Fortified Edible Oil is Fuelling the Market Growth and Increasing Consumption of Fortified Foods
Challenges:
Health Issues Associated with Fortified Edible Oils
Restraints:
Fluctuations in Raw Material Prices
Opportunities:
Increasing Disposable Income and Increasing Awareness about Fortification
Market Leaders and their expansionary development strategies
In August 2021, Corbion has announced the acquisition of Granolife, a developer of functional mixes for the Mexican baking and fortification sectors situated in Querétaro, Mexico. At its production facilities and application and development centre, Granolife employs about 60 people.
In Dec 2018, Richardson International and Conagra Brands have reached an agreement to divest the Wesson® Oil brand.
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.