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Edible Oils and Fats Market Global Current Scenario, Size, Value Share, Emerging Trend, Business Statistics, Key Players Review and Forecast to 2023

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Edible Oils and Fats Market Global Current Scenario, Size, Value Share, Emerging Trend, Business Statistics, Key Players Review and Forecast to 2023

September 15
09:51 2019
Edible Oils and Fats Market Global Research Report by Type (Oils and Fats), Source (Plant and Animal), Application (Bakery and Confectionery, Convenience Foods, Sauces, Spreads and Dressings, HORECA and others) and Region – Forecast till 2023

Market Overview

According to the Latest Analysis of Market Research Future (MRFR), the Edible Oils & Fats Market is slated to reach a valuation of USD 153.11 Billion by 2023 at a 4.29% CAGR over the forecast period. This growth is attributed to the rising consumption of oils & fats in bakery & confectionery and processed & convenience foods. The global edible oils & fats market is also expected to be driven by the growth of the Hotel/Restaurant/Café (HoReCa) industry. Edible oils offer texture to biscuits, cakes, and baked products, which is increasing their popularity in the food industry. Changing lifestyles of consumers coupled with rising per capita disposable income are expected to fuel the demand of various food products, which consequently is anticipated to fuel the demand for edible oils and fats.

Market players in the edible oils and fat market are expected to increase their research and development budget to retain their position in the edible oils & fats market. The proclivity towards healthy products due to a change in consumer behavior and increase n the adoption f healthier lifestyles is likely to encourage the demand for healthy cooking oils. This has also led to the development of low cholesterol and zero trans-fats products in the past years.

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Key Players

Prominent players acknowledged in the Global Edible Oils and Fats Market are

  • James Richardson & Sons Limited (Canada),
  • AAK AB (Sweden),
  • Associated British Foods PLC (UK),
  • Bunge Limited (US),
  • Cargill, Incorporated (US),
  • Conagra Brands, Inc. (US),
  • Archer Daniels Midland Company (US),
  • United Plantations Berhad (Malaysia),
  • IFFCO (UAE)
  • Wilmar International Ltd. (Singapore)

Segment Analysis

The Edible Oils & Fats Market is segmented based on type, source, and application.

Types of oils aa into olive oil, palm oil, rapeseed/canola oil, soybean oil, sunflower oil, and others.  Types of fats available are butter, butter oil, lard & tallow, margarine, white cream fat, and others. The oil segment has a comparatively higher market share than fats segment. The former is expected to maintain its lead through the forecast period since edible oils are used in a variety of stages of cooking such as frying and sautéing.

The sources of oil and fat extraction in the market are plant and animal. The plant segment accounts for a larger market share. The plant source segment is likely to exhibit 4.21% CAGR during the forecast period owing to the high usage of vegetable oils for improving the flavor of cuisines and increasing demand for plant-based products.

The application of oil and fat products in the market are convenience foods, bakery & confectionery, sauces, spreads, and dressings, Sweet & savory snacks, hotels, restaurants & cafes (HORECA), and others. HoReCa accounts for the largest market share. Bakery & confectionary account for the second-largest segment and is projected to display 4.16% CAGR over the forecast period.

Get More Professional and Technical Industry Insights @ https://www.marketresearchfuture.com/reports/edible-oils-fats-market-1993

Regional Analysis

Based on the region, the edible oils & fats market covers Europe, North America, Asia-Pacific (APAC), and Rest of the World (RoW).

North America is likely to reach a market value of USD 31,203.4 Million by 2023. This is attributed to the presence of various oil and fat producers in the region. In addition, the launch of healthy edible oils by producers to tap into the consumer trend of health consciousness is likely to encourage the regional revenue of the edible oils & fats market.

Europe is also a significant region in the global edible oils and fats market and is expected to display a 4.06% CAGR over the assessment period owing to the massive usage of edible oils & fats in bakery & confectionery products. additionally, the use of edible oils & fats in HORECA industry is projected to drive the edible oils & fats market growth throughout the forecast period.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
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Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/edible-oils-fats-market-1993