Edible Oils and Fats Market - Global Industry Analysis

Table Of Content

Methodology

Free Analysis

Edible oils and fats are used in cooking activities such as frying and baking. Both oils and fats have a similar composition, but fats are partly solid and oils are liquid at room temperature. Edible fats and oils contain esters derived from carboxylic acids and propane-1, 2, 3-triol, known as triglycerides. The traditional method of oil extraction includes various preliminary operations such as dehulling, cracking, and shelling after that paste is formed by grinding crop. Edible fats and oils are refined in order to remove toxic substances and impurities. Refining process of oils involves deodorization, bleaching, and cooling.

There are various uses of edible oils and fats in food preparation, including cooking oils, manufacturing of margarine, processed food products such as potato chips, mayonnaise, french fries, canned fish, and sandwich, which is a major factor driving the edible oils and fats market growth. Growing population, rapid urbanization, increasing choices of consumers towards processed and fried food, rising number of the food chain, restaurants, and hotels are the key factors projected to fuel the growth of the market for edible oils and fats within the forecast period.

On the basis of the product type, the edible oils and fats market is categorized into vegetable & seed oil, spreadable oils & fats, olive oil, cooking fats, and others. Vegetable & seed oil segment is further segmented into soybean oil, sunflower oil, palm oil, canola oil, and others. Spreadable oils & fats segment is further segmented into butter and margarine. Vegetable and seed oil segment dominated the overall market in 2017 with highest revenue market share. The growth is largely due to its high consumption for cooking purpose. Based on the source, the market is categorized into plant and animal. Plant segment accounted for the largest market share in terms of revenue in 2017, owing to its certain health benefits. Based on the form, the edible oils and fats market is categorized into liquid and solid. The liquid segment is growing at the highest CAGR. The solid segment is also anticipated to exhibit significant growth in the near future, owing to the growing number of local food chains of sandwiches and burger. Based on the distribution channel, the edible oils and fats market is categorized into supermarket, hypermarket, convenience stores, departmental stores, and online stores. Supermarket and hypermarket segment are exhibiting the highest CAGR. The online store segment is anticipated to grow at a moderate CAGR over the forecast period owing to evolving consumer buying behavior.

By geography, Asia Pacific is the fastest growing market for edible oils and fats in 2017 with a significant market share in terms of revenue. The growth is due to the rising population in China and India. Europe is the second key market for edible oils and fats and is projected to grow at the highest CAGR within the forecast period. Consumer shift towards healthy edible fats and oil coupled with increasing health awareness is driving the Europe edible oils and fats market. North America edible oils and fats market is mainly driven by high per capita income, rising fast food demand, and advanced manufacturing processes for oils and fats. In Latin America and the Middle East & Africa, increasing application of the edible oils and fats in the commercial sector is driving the market growth.

The key players are focusing on several inorganic and organic growth strategies along with extensive research & development activities in order to sustain the existing market position. Some of the key players included in the global edible oils and fats market report are Unilever Plc, Cargill Inc., International Foodstuff Company Limited, American Vegetable Oils, Inc., Fuji Vegetable Oil, Inc., Beidahuang Group, ConAgra Foods Inc., Ajinomoto Co., Inc., Bunge Limited, United Plantations Berhad, CHS Inc., Mother Dairy, Wilmar International Limited, and Associated British Foods plc.