The global Edible Oil & Fats Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global edible oil and fats market is anticipated to reach USD 162.51 billion, by 2025. Moreover, the market is expected to grow at a CAGR of 7.6% during the forecast period, 2018 to 2025, according to a new report by Million Insights. Rising demand for omega-3 as a dietary constituent, increasing investment by the manufacturer for product innovation and the changing lifestyle of the consumers is expected to fuel the demand for the market during the forecast period.
Key Players:
- ABF
- ADM
- Cargill, Incorporated
- Bunge Limited
- Adani Wilmar Ltd.
- Ruchi Soya Industries Ltd.
- Aceities Borges Pont S.A.
- American Vegetable Oils, Inc.
- Avena Nordic Grain Oy
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Growth Drivers:
Cooking oil producers like Cargill, Inc., and Unilever PLC have been intensifying their investments in the advancement of the products, which contains low cholesterol substances. Moreover, fluctuating diet intakes along with frenzied lifestyles among young working-class consumers are anticipated to alter the preferences of the customer and expected to drive the demand for coconut oil and sunflower oil for cooking.
A growing number of restaurants and hotel chains in developing countries like India and China account for strong government policies intended to improve the city infrastructure is anticipated to boost the utility of consumable oils. Additionally, changing the inclination of consumers who fall in the middle-class income groups in several countries including UAE and Saudi Arabia to prefer going out for dinner during the weekends is anticipated to create new opportunities for the foodservice industry in the coming years.
Product Outlook:
- Edible Oil
- Soybean
- Sunflower
- Olive
- Coconut
- Edible Fat
Distribution Channel Outlook:
- Offline
- Online
Offline channels have generated an income of USD 50 billion, in 2018. Consumable oils are mainly sold through general stores and supermarket & hypermarkets. Carrefour, Fight, Dependence Shop, and Walmart, are among a few of the key retail players. The income generated through online channels is anticipated to witness significant growth with a CAGR of 8.0% during the forecast period, 2018 to 2025, this growth is attributed to the expanding implication of e-commerce players, as the key offering source among buyers on an account of uncommon value-added administrations like coupons and cash-on-delivery benefits.
Regional Outlook:
Based on the region, the market is divided into North America, Asia Pacific, Europe, Middle East and Africa and Central and South America. The Asia Pacific holds the largest market share and expected to retain the dominant position over the forecast years, due to high potential growth opportunities in the developing countries, like Hong Kong India and China.
Asia Pacific region has captured more than 30% of global market share, in 2018. The region is anticipated to witness significant growth, owing to increasing population, disposable income and urbanization in developing countries such as Bangladesh, India, and China. Additionally, rising demand for low-calorie substance oil among the middle-class consumers will positively impact the market.
Europe market is anticipated to reach USD 25 billion, by 2025. The rising consumption of fruits, nuts, vegetables, whole grains and beans in the developed countries such as Italy, France and Spain is anticipated to increase the requirement for specialized oils which include olive oil.
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