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Edible Oils and Fats Market Analysis, Size, Share, Trends, Report and Forecast 2024-2032
Edible Oils and Fats Market
According to the report by Expert Market Research (EMR), the global edible oils and fats market size reached a value of USD 227.68 billion in 2023. Aided by the increasing demand for healthier, versatile, and sustainable edible oil and fat options, the market is projected to further grow at a CAGR of 5.80% between 2024 and 2032 to reach a value of USD 378.15 billion by 2032.
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Edible oils and fats are essential components of the human diet, providing energy, essential fatty acids, and fat-soluble vitamins. They play a critical role in culinary applications, influencing the flavour, texture, and nutritional profile of food products. The market encompasses a wide array of products, including vegetable oils such as soybean, palm, canola, and olive oil, as well as animal-based fats like butter and lard.
The edible oils and fats market growth is propelled by several key trends. Firstly, the growing health consciousness among consumers worldwide has spurred the demand for oils and fats with beneficial health profiles. Oils rich in unsaturated fatty acids, such as olive oil and flaxseed oil, known for their heart-healthy benefits, have seen increased popularity. Additionally, the demand for organic and non-GMO oils reflects a broader consumer shift towards natural and environmentally friendly products.
Sustainability concerns have also influenced the edible oils and fats market outlook. The production of certain oils, particularly palm oil, has faced scrutiny due to environmental and ethical issues, including deforestation and habitat destruction. This has prompted industry players and consumers alike to seek more sustainable practices and alternatives, such as certified sustainable palm oil and the exploration of underutilised oil crops with lower environmental footprints.
According to the edible oils and fats market analysis, the technological advancements in oil extraction, processing, and packaging have further driven market growth, enhancing efficiency, product quality, and shelf life. Innovations in biotechnology have also enabled the development of oils with improved nutritional profiles and functionality, catering to the needs of specific consumer segments and industrial applications.
Looking ahead, the future of the market appears promising, with significant opportunities for growth and innovation. The increasing global population and rising incomes in emerging economies are expected to drive demand for edible oils and fats across food service, food processing, and retail sectors. Furthermore, the ongoing quest for healthier and more sustainable diets is likely to fuel the development of new products and processing technologies.
Read Full Report with Table of Contents@ https://www.expertmarketresearch.com/reports/edible-oils-and-fats-market
Edible Oils and Fats Market Segmentation
The market can be divided based on product, type, nature, form, source, application, end-use, distribution channel, and region.
Market Breakup by Product
Edible Oil
Soyabean Oil
Sunflower Oil
Olive Oil
Coconut Oil
Palm Oil
Others
Edible Fats
Cocoa Butter Replacer
Cocoa Butter Substitute
Filling Fats
Milk-Fat Replacers
Spread Fat
Frying Fats
Margarine
Shortenings
Butter
Others
Market Breakup by Type
Natural
Synthetic
Market Breakup by Nature
Organic
Conventional
Market Breakup by Form
Solid
Liquid
Market Breakup by Source
Animal
Plant
Market Breakup by Application
Bakery and Confectionery
Convenience Foods
Sauces
Spreads and Dressings
HORECA
Others
Market Breakup by End Use
Food and Beverage
Personal Care and Cosmetics
Biofuel and Energy
Pharmaceuticals
Chemicals
Others
Market Breakup by Distribution Channel
Online
Offline
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global edible oils and fats market. Some of the major players explored in the report by Expert Market Research are as follows:
Archer Daniels Midland Company
Cargill, Incorporated
Bunge Limited
Wilmar International Limited
IFFCO Group
FUJI OIL CO., LTD.
IOI Corporation Berhad
Richardson International Limited
The Nisshin OilliO Group, Ltd.
Ventura Foods, LLC
Others
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