Fats and Oils Market expected to reach 282.8 billion by 2024

Market Overview:

Cooking oils and fats are a combination of polysaturated, monosaturated and saturated fatty acids. Saturated fats raise the body cholesterol levels, while polysaturated and monosaturated fats tend to lower cholesterol levels in the body.

Edible fats and oils are having applications in the food industry, while inedibles have a large variety of industrial applications. Diet fats and oils are taken as highly concentrated forms of energy and occupy a key role in promoting the growth of cells. 

The global fats and oils market is estimated to register a CAGR of 5.2% during the forecast period (2019–2024), to reach USD 282.8 Billion by 2024. 

Recent developments

  • In May 2017ConAgra Foods signed a USD 285 million contract to sell its Wesson edible oil to J. M Smucker in the course of re-engineering its portfolio.

Market Drivers and Restrains

Increasing consumption of animal products augments the demand for high-quality edible fats & oils products, and processed food. Changing consumer eating habits are the aspects that are expected to increase the demand for fats & oils market over the forecast period.

The primary factor driving this market is the raised consumption of processed foods, ready to drink beverages and confectionery. Asia-pacific accounts for the highest share in palm oil in terms of use as well as its production. The primary driver in consumption is its usage in cooking and its part in food processing.

However, rising health concerns such as heart associated disease and obesity due to excessive consumption of fats & oils increasing quality standards, strict government regulations for food safety and improving environmental interest may hinder the growth of fats & oils market in the near future.

Report is segmented as

By Product Type

  • Palm
  • Sunflower
  • Olive
  • Soybean
  • Rapeseed
  • Others

By Application

  • Food
  • Industrial
  • Personal Care
  • Animal Feed
  • Pharmaceutical

 Geographical Segmentation:

Based on geography, the world market is analyzed under many regions such as North America, Europe, Asia-Pacific and the Rest of the World. The Asia-Pacific region contributed the highest share to the global Fats and Oils Market.

Key market players:

  • Associated British Food Plc.
  • Cargill, Incorporated
  • Archer Daniels Midland Company
  • Unilever Plc.
  • United Plantations Berhad
  • Wilmar International Limited
  • International Foodstuff Company Holdings Ltd.
  • Ajinomoto Co. Inc.
  • Bunge Limited.

View sample and decide:  https://www.marketdataforecast.com/market-reports/fats-and-oils-market/request-sample

Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

About Us:

Market Data Forecast is a firm working in the areas of market research, business intelligence and research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.

For more information:          

Abhishek Shukla

Sales Manager at Market Data Forecast

Email: abhishek@marketdataforecast.com

Tel: +1-888-702-9626

Website: https://www.marketdataforecast.com/

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