Global Fats and Oils Market Production, Consumption, Revenue and Market share Details till 2026

Rockville, US, 2018-Apr-24 — /EPR Network/ —  Fact.MR has been actively involved in offering comprehensive research data concerning various topics which are associated to industrial reference and investor utility. “Fats and Oils Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2026” Readers can access knowledge related to market volume, regional expanse as well as competitive landscape prevailing in the global fats and oils market. In order to study development patterns, this smart assessment also focuses on market dynamics, which talks about drivers, restraints and opportunities estimated to influence the concerned market during the forecast period.

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Fats and oils are widely employed for both industrial uses and food applications across the globe. Diet fats and oils play a pivotal role in encouraging growth of cells, and are considered to be highly concentrated sources of energy. In addition, demand for edible fats and oils, source of essential fatty acids (EFA), is mainly being driven by rising consumption of animal-based products.

Food Products Comprising Minimally Processed Fats & Oils to Remain Preferred among Young Consumers Globally

Consumers across the globe have become more informed about differences between healthy and unhealthy fats and oils. Majority of these consumers now express a greater willingness for considering and trying fats and oils extracted from non-traditional sources, along with perceived benefits of being sustainable, organic or non-bioengineered. Currently, food products that comprise minimally processed fats and oils, which are free from genetically modified organisms (GMO) and are organic, are being more preferred by young consumers worldwide. The Millennial and young consumers prefer avoiding overly processed ingredients and foods, which in turn bolsters demand for unrefined, natural oils. On account of their increasing health-consciousness, most of the consumers globally are readily embracing and seeking out specific animal-based and plant-based fats, which include fats from butter, eggs, olive oil, and avocados. Adoption of butter-based fats is resurging on the back of its provision of a stellar performance in facilitating simple and clean ingredient labels. This is mainly because simple and clean labels is the new normal for Gen Z and Millennial consumers.

Consumers Inclining More toward Fats & Oils Providing Health Benefits

Preference for reducing saturated fat and fat from diet has been unrelenting among consumers over the past few years. The Generation Z and Millennial consumers are at present more inclined toward discerning fats and oils not only as permissible, but also as providing positive health benefits. These consumers are exhibiting ready acceptance of specific fats and oils that benefit their health. The food industry is simultaneously witnessing huge availability of certain plant-derived oils & its narratives, which are espousing healthfulness and naturalness thereby peeking consumer interest. Demand for pantry-friendly, simple and clean ingredients from the food industry has witnessed a significant surge, with growing consumer desire to eliminate genetically modified organisms (GMOs) in their food products, and seek organic foods. The rediscovered respect for importance of taste is a resurgent trend observed in the market.

Vendors in the market have commenced investing in best substitutes to trans-fat, in a bid to cater changing consumer demand, which in turn has proliferated production of functional and fortified food. This has further prompted vendors in developing new formulations of fats & oils. Growing development of manufacturing hubs across new markets has led to a surge in globalization of olive oil production, which is one of the latest trend being witnessed in the market. Demand for fats and oils however is being restrained on account of factors such as growing health concerns including obesity and heart-related diseases, along with rising environmental concern and stringent government regulations associated with food safety.

APEJ to Remain Leading Revenue Contributor to the Market

Asia-Pacific excluding Japan (APEJ) is anticipated to remain the leading revenue contributor to the global fats and oils market. China and India will remain the most lucrative countries in APEJ for growth of the market. End-use of fats and oils in Europe varies across its countries. For example, biodiesel application accounts for a major share of Germany’s market growth, while food application continues to be a major application of fats and oils in France. Europe is projected to account for a major portion of the global fats and oils market’s revenue share during the forecast period.

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Edible vegetable oils will continue to be the top-selling product in the market, in terms of value. Demand for edible vegetable oils will mainly be fuelled by the advent of high-grade products on the back of recent advances in their production processes. Increasing consumption of animal-based products will also promote adoption of edible vegetable oils in the near future.

Competition Tracking

On account of the occupancy of numerous regional and international vendors, nature of the global market for fats and oils is fragmented. Vendors in the market are competing in terms of pricing, portfolio, and product differentiation. Leading players in the market, as profiled by Fact.MR’s report, include Associated British Food Plc, Ajinomoto Co. Inc., United Plantations Berhad, Bunge Limited, Archer Daniels Midland Company, Wilmar International Limited, International FoodStuff Company Limited, and Cargill, Inc.

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