Global Fats and Oils Market size was worth US$ 209.85 billion in 2021, and it is estimated to reach a valuation of US$ 247.78 billion by the end of 2027, expanding at an annual compound rate of 4.4% between 2022 and 2027. The demand for fats and oils is increasing as interest in biofuels such as biodiesel from vegetable oils and animal fats increases.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2021 – 2027 |
|
Base Year |
2021 |
|
Forecast Period |
2022 - 2027 |
|
CAGR |
4.4% |
|
Segments Covered |
By Product Type, Application, Form, Source, and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Cargill, Corteva, Archer Daniels Midland Company, Arista Industries, Unilever, Conagra Foods, Bunje Limited, Ajinomoto, British Foods, Wilmar International, United Plantations Berhad and Others. |
Due to a surge in living standards and population growth, the demand for each food sector in these countries is the driving force behind the fats and oils market.
The global fats and oils market is expected to have positive growth during the forecast period due to changes in consumer eating habits. The increase in consumption of processed foods along with the demand for high-quality cooking oil is supposed to have a positive impact on the global market. Increased health awareness and increased disposable income in emerging markets are estimated to strengthen the global market further. Fast food and convenience food consumption are assumed to fuel the demand for fat and oil during the outlook period. The food industry dominated fat and oil applications, and the transition to industrial, chemical, personal care, animal feed and pharmaceutical applications is expected to gain momentum in the future. There was a high demand for fats and oils in the food and beverage industry. Changing consumer eating habits are driving demand in local and oil markets. Other prominent industries that find applications of fats and oils are chemical, pharmaceutical, animal feed, industrial and personal care products.
Market demand is growing as demand for alternative biodiesel fuels increases in the transportation sector. Increased health problems and rising raw material prices may hinder future market growth. Consumers around the world have learned more about the difference between healthy and unhealthy fats and oils. Most of these consumers now show a greater willingness to consider and test fats and oils extracted from non-traditional sources and the perceived benefits of being sustainable, organic or non-biotech. Today, foods that are free of genetically modified organisms (GMOs) and that contain minimally processed fats and natural oils are increasingly favored by young consumers around the world.
The Millennium generation and young consumers prefer to avoid overly processed ingredients and foods, which intensifies the demand for unrefined natural oils. As health awareness increases, most consumers around the world readily adapt and search for certain animal and vegetable fats, such as butter, eggs, olive oil, and avocado fat. The adoption of butter-based fats is reviving by providing excellent performance in promoting clean and straightforward ingredient labels. This is because clean, simple labels are the new standard for Gen Z and Millennial consumers. An increase in R&D to develop innovative applications such as trans-fat substitute development and biodiesel production promise ample opportunities for local and oil market participants.
The increase in health problems caused by excessive consumption of fats and oils is anticipated to hinder the growth of the global fats and oils market. Regulations regulating food safety and labeling issues are believed to further slow market growth. High raw material prices are expected to affect the market's growth prospects adversely.
The global fats and oils market is diversified into Asia Pacific, Europe, North America, and other countries.
The Asia Pacific region dominates the worldwide business. Emerging economies like India, Malaysia, China, and Indonesia have a significant market share in oil and fats markets worldwide. Contributing factors to this growth are increased consumer awareness of health, higher disposable income for people, and high consumption of processed foods and cooking oil. Growth in local and oil markets in the Asia-Pacific region is presumed to accelerate, especially in Asian countries such as China and India, where fat and oil consumption is likely to increase. Population growth in the Asia-Pacific region and the development of the food and non-food industries require more fat and oil than any other end-use sector in the world. Latin America and North America also have a significant share in the fat and oil market due to higher application in the industry. Biodiesel production, along with other pharmaceutical applications in countries such as Argentina, Brazil, and the United States, has contributed to the growth of the local market.
Key Players in the Market:
Major Key Players in the Global Fats and Oils Market are
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Global Fats and Oils Market, By Product Type
6.1.1 Olive Oil
6.1.2 Soybean Oil
6.1.3 Coconut Oil
6.1.4 Sunflower Seed Oil
6.1.5 Rapeseed Oil
6.1.6 Palm Oil
6.1.7 Market Size Estimations & Forecasts (2022-2027)
6.1.8 Y-o-Y Growth Rate Analysis
6.1.9 Market Attractiveness Index
6.2 Global Fats and Oils Market, By Application
6.2.1 Food & Beverages
6.2.2 Pharmaceuticals
6.2.3 Personal Care
6.2.4 Animal Feed
6.2.5 Industrial Uses
6.2.6 Market Size Estimations & Forecasts (2022-2027)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
6.3 Global Fats and Oils Market, By Form
6.3.1 Solid
6.3.2 Liquid
6.3.3 Market Size Estimations & Forecasts (2022-2027)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Global Fats and Oils Market, By Source
6.4.1 Animals
6.4.2 Plants
6.4.3 Market Size Estimations & Forecasts (2022-2027)
6.4.4 Y-o-Y Growth Rate Analysis
6.4.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2022-2027)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Product Type
7.2.3 By Application
7.2.4 By Form
7.2.5 By Source
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Product Type
7.3.3 By Application
7.3.4 By Form
7.3.5 By Source
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Product Type
7.4.3 By Application
7.4.4 By Form
7.4.5 By Source
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Product Type
7.5.3 By Application
7.5.4 By Form
7.5.5 By Source
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Product Type
7.6.3 By Application
7.6.4 By Form
7.6.5 By Source
8. Key Player Analysis
8.1 Cargill Incorporated
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Archer Daniels Midland Company
8.3 Unilever plc
8.4 ConAgra Foods
8.5 Corteva, Inc.
8.6 Arista Industries
8.7 Bunje Limited
8.8 Ajinomoto Co. Inc.
8.9 British Foods plc
8.10 Wilmar International
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
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