Industry Background:
Oils and fats are essential macronutrients and dietary components that serve various critical functions in the human body. They are primarily composed of triglycerides, which consist of glycerol and fatty acid molecules. Common plant-based oils are derived from sources like olives, soybeans, canola, sunflowers, coconuts, and others. Animal fats are found in products like butter, lard, and tallow. Both oils and fats serve essential functions in the body, including providing a concentrated source of energy, aiding in the absorption of fat-soluble vitamins (A, D, E, and K), and being crucial components of cell membranes. The food processing industry relies heavily on oils and fats for various applications, including cooking, baking, frying, and as ingredients in a wide range of products, driving the demand for this market.
According to AMA Research, the market for Oil and Fats is expected to register a CAGR of 20.3% during the forecast period to 2030. This growth is primarily driven by Increase in Usage and Consumption of High-Quality Edible Oils/Cooking Oils
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Associated British Foods plc (United Kingdom), Bunge Limited (United States), CHS Inc. (United States), Land O'Lakes, Inc. (United States), Wilmar International Limited (Singapore), Cargill, Incorporated (United States), Archer Daniels Midland Company (United States), International Foodstuff Company Holdings Limited (United Arab Emirates), Ajinomoto Co., Inc. (Japan) and ConAgra Foods, Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
June 2023, Bunge Ltd. and Viterra came to an agreement for a merger, which is set to form one of the largest agribusiness companies globally. This move will bring them closer in terms of size and operational scope to major agribusiness leaders like Cargill and ADM.
In February 2019, Cargill Incorporated introduced "PalmAgility," a specialized palm oil shortening line tailored for use in baked goods. This innovative product is distinguished by its promise of a smoother and creamier texture, setting it apart from conventional palm oil shortenings.IIThe competitive landscape of the fats and oils market is dynamic and highly competitive, with numerous players operating on a global and regional scale. These companies engage in the production, distribution, and marketing of a wide range of fats and oils, both for human consumption and industrial applications
Influencing Trend:
Upsurging population, change in consumer eating habits, as well as demand for high-quality fats & oils
Market Growth Drivers:
Increase in Usage and Consumption of High-Quality Edible Oils/Cooking Oils, Upsurging Consumption of Bakery & Confectionery as well as Processed Foods and Increasing Demand for Biodiesel
Challenges:
High Capital Investments in Extraction
Restraints:
Health Concerns Related to Excessive Consumption of Fats and Oils and Legislation Related to Labeling of Fats & Oil Products and Its Safety Issues
Opportunities:
Emerging Applications of Fats as well as Oils as a Substitutes of Trans-Fats and Rapid Growth in Raw Material Cultivation and Production
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Oil and Fats Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Oil and Fats Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Oil and Fats players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Oil and Fats Study Sheds Light on
The Oil and Fats Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Oil and Fats industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Oil and Fats industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.