The global fats
& oils market is foreseen to grow at 4.1%, from USD 228.90 Billion in 2021
to USD 315.68 Billion in 2029. Increasing demand for food boosting global
consumption of vegetable oils increased consumption of bakery &
confectionery and processed food products, growing demand for biodiesel are the
factors driving the growth of the global fats & oils market. However, labeling
of fat & oil products and the safety issues have seen restraint in the
market growth for the estimated period.
Market Definition
What is Fats & oils?
Oils and fats
form an important part of a healthy diet.
Structurally they are esters of glycerol with three fatty acids (called
either triacylglycerols or triglycerides).
It is these fatty acids that give functionality to fats.
Market Overview
The fats &
oils market research study helps to thoroughly understand the current trend in
the market, competitive analysis of the players in the emerging market.
Moreover, the DRO in the Fats & oils market offers valuable perspicuity and
a current scenario for making the right decision. The research study covers the
eminent players in the market with a detailed analysis of the company and a
financial overview containing their net sales, business mix and geographical
reach. It mainly focuses on the key developments of the products/services
offered by the company in recent years. Besides, we at Zettabyte have the
expertise to analyse the global Fats & oils market player's competitive
landscape, helping the client comprehend their specific strategic growth
approaches.
Fats & oils
Market study by "Zettabyte Analytics" offers details about the market
scope, market segmentation, technological advancement in the Fats & oils
market and highlights the optimistic, competitive landscape and trends enduring
over the years.
Major players in
the fats & oils market include Associated British Foods Plc, Archer Daniels
Midland Company, Bunge Limited, Wilmar International Limited, United
Plantations Berhad, Unilever Plc, Ajinomoto Co., Inc., Mewah International
Inc., Cargill, Incorporated, Richardson International Limited, International
Foodstuff Company Holdings Limited (Iffco), Goodhope Asia Holdings Ltd., Vega
Foods, Welch, Holme & Clark Co., Inc., Oleo Fats, Inc., Csm Ingredients,
Aak International, Fuji Oil Co., Ltd., Gemini Edibles & Fats India Pvt.
Ltd., K S Oils.
COVID-19 Impact on Global Fats
& oils Market
The global impact
of COVID-19 has lost millions of lives with a massive cost to the healthcare
system. Moreover, the treatment cost for patients with COVID-19 has also had a
financial impact globally. The impact of COVID-19 on the Fats & oils Market
has forced the companies to change their sourcing, pricing, and promotion
strategies. The Fats & oils Market players are seen focusing more on
optimizing the E-commerce networks with the rising innovations in the digital
sector, which are creating new business models for the food and beverage
industry player.
Research Scope
The report
provides market value for the base year 2021 and a yearly forecast from 2022 to
2029 in revenue (USD Million/ Billion). The market for each segment is present
in North America, Europe, Asia Pacific, Latin America, Middle East &
Africa, and the regional basis for the forecast mentioned above.
Key industry
dynamics, regulatory scenarios, major material dynamics and Fats & oils'
future markets are analyzed to understand their impact on demand for the
forecast period. Growth rates have been estimated using correlation, regression
and time-series analysis.
Market Segmentation
For the purpose
of this report, the global fats & oils market is segmented on the basis of type,
source, application, distribution channel and region:
Type
|
Fat Type
|
|
Butter
|
|
Lard
|
|
Shortenings and Margarine
|
|
Tallow
|
|
Others
|
Oil Type
|
|
Olive Oil
|
|
Palm Oil
|
|
Rapeseed Oil
|
|
Soybean Oil
|
|
Sunflower Oil
|
|
Others
|
|
|
Source
|
Vegetable
|
Animal
|
|
|
Application
|
Food
|
|
Confectionary
|
|
Bakery
|
|
Dairy Products
|
|
Others
|
Industrial
|
Animal Feed
|
|
|
Distribution Channel
|
Direct Sales
|
Supermarkets and
Hypermarkets
|
Retail Stores
|
Online Stores
|
Others
|
Type Outlook:
On the basis of
type, the market is segmented into fat type, oil type. Further, fat type is
segmented into butter, lard, shortenings and margarine, tallow, others. Further,
oil type is segmented into olive oil, palm oil, rapeseed oil, soybean oil,
sunflower oil , others.
Figure 1 - Fats & oils Market, By Type (Market
Size And Forecast By Value - USD Million, 2021 & 2029)