Market Overview
Market Research Future (MRFR) studied the global edible oils and fats market 2021 over the analysis period till 2023. As per MRFR study, the edible oils and fats market is expected expand at 4.29 % CAGR over the evaluation tenure. By 2030, the global edible oil and fat market value can touch, USD 161.69 billion.
The increase in consumption of edible fats and oils by the food and beverage industry for the preparation of refined and snack foods, and bakery and confectionaries and the surge in the demand for bakery and related food products can support the growth of the edible oil market in the analysis period. The increase in the demand for edible oils and fats in HoReCa sector is likely to add to the market expansion. The growing preference for fried goods, bread, and cookies that are textured with edible oils is also expected to prompt the Edible Oils and Fats Market Overview in the review period.
In addition, the rise in per capita disposable income and change in preference of taste of customers, along with the adoption of lifestyles, can add momentum to the edible oil and fat market. The availability of several functional food made from edible oil that can contribute to the reduction of the risk of coronary disorders and breast cancer can bolster the edible oil and fats market. The surging awarness about extraordinary health benefits of edible fat and oil, such as, anti-inflammatory properties, and the increasing adoption of food fortified with omega-3 fatty acids as a dietary supplement can prompt the market surge. The surge in sales of soybean, flax seed oil, and canola for intake of edible oil can also prompt the market upsurge. However, the lack of awarness about the need for required dosage of edible oil and fats are observed to surge cases of obesity and cardiovascular disorders, which can pose a threat to the growth of the market.
Regional Analysis
MRFR regional data suggests that North America Edible Oils And Fat Market can value USD 31.20 Bn by 2023. The market in EU can exhibit 4.06% CAGR in the review tenure and APAC edible oil and fat market can surge at 4.81% CAGR by 2023. The presence several oil and fat producers in the regions and the increase in their adoption by restaurants and hotels can promote the market rise.
Segmental Assessment
The segment study of the Edible Oils and Fats Market Overview is based on type, application, and source.
The type-based segments of the study of the global market of edible oils and fats are oils and fats. The oil segment is likely to secure the largest share of the edible oil and fat market over the fat segment. However, the fat segment is expected to garner a decent revenue for the global market in the analysis term. The utility of edible oils in different stages of cooking, such as frying and sautéing, can contribute to the growth of the edible oil market over the assessment period. The growing demand for edible oil as key source of several nutritional components, such as; vitamin E, magnesium, selenium, and phytosterols, can prompt the expansion of the global market.
The source-based segments of the global edible oil and fat market are animal and plant. The growing preference for edible oils extracted from vegetable in the preparation of cuisines can support the edible oil and fats market in the evaluation tenure. The surge in demand for plant-based products can contribute to the rapid growth of the plant source segment. MRFR data suggests that the plant segment can rise at 4.21 % CAGR over the forecast term.
The application-based segments of the edible oil and fats market are Bakery & Confectionery, Spreads and Dressings Convenience Foods, Sauces, and HORECA among others. The HoReCa segment is expected to register decent share of the edible oil market. The segment of bakery and confectionary is expected to rise at 4.16 % CAGR in the assessment period. The surge in the adoption of edible oils and fats by food-chain franchises, cafes, hotels, and restaurants, can support the market growth in the review period.
According to the MRFR reports, the global Edible Oils and Fats Market Size is likely to attain a over USD 161.69 billion by the end of 2030 while flourishing at a healthy CAGR of over 4.29% during the forecasted era.
Competitive Landscape
Cargill, Incorporated (US), Archer Daniels Midland Company (US), Bunge Limited (US), Wilmar International Ltd. (Singapore), James Richardson & Sons, Limited (Canada), Associated British Foods PLC (UK), AAK AB (Sweden), Conagra Brands, Inc. (US), United Plantations Berhad (Malaysia), and IFFCO (UAE) are some key companies in the edible oils and fats market that are listed by MRFR in the recent report.
Related Reports:
Fortified Breakfast Spreads Market Information: By Source (Fruit Based, Nut Based, Dairy Based, And Others), By Nutrients (Vitamins, Minerals, Proteins, Prebiotics & Probiotics, Others), By Distribution Channel (Store-Based And Non-Store Based) And By Region - Forecast To 2030 -
Flavor Market Research Report Information By Product Type (Natural, Synthetic), By Application (Food, Beverages, Tobacco, Cosmetic & personal care, Pharmaceuticals), By Country (India, Nepal, Sri Lanka, Bangladesh), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030 –
Wasabi Market Research Report - Forecast till 2030
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone:
+1 628 258 0071(US)
+44 2035 002 764(UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
