Market Size in 2021 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 237 Billion | USD 358 Billion | 4.34% | 2021 |
FrequentlyAsked Questions
The global fats & oils market is projected to grow due to increasing investments in product innovation. Different types of oil & fats have been an integral part of food preparation. They are used for various purposes including frying, cooking, margarine, bakers’ shortenings, or in salad dressing.
According to study, the global fats & oils market size was worth around USD 237 billion in 2021 and is predicted to grow to around USD 358 billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.34% between 2022 and 2030.
The global fats & oils market is projected to be dominated by North America as it did in 2021 owing to the high demand for cooking oil and fats across the regions of Canada, Mexico, and the US. The region is witnessing a surge in the consumption of healthy fats that are derived from plants instead of the ones sourced from animals.
The global fats & oils market is led by players like Fuji Oil Holding Inc., Cargill Incorporated, AAK AB, Richardson International Limited, United Plantations Berhad, Bunge Limited, and Wilmar International Limited.
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