What are the growth drivers of Vegetable Fats Market? Unilever, IFFCO Group, CHS Inc., Wilmar International, Ajinomoto Co., Inc., Carapelli SPA, Richardson International

Vegetable Fats Market is estimated to surpass USD 130 billion by 2025. Strong business outlook with versatile applications, including bakery, confectionery, snacks & savory, RTE/convenience food, sauces, spreads & dressings applications, are among the key factors driving vegetable fats market growth. Increased product usage for improving food texture, potential medium for cooking methods, and as a base for flavored content will support product penetration in the industry. Besides, surging consumption of fats & oils in numerous cuisines coupled with an increasing number of product innovations will further fuel the overall product demand.

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Shifting consumer focus toward a healthy diet along with growing nutritive food demands will propel the vegetable fats market share. Key benefits such as enhanced metabolism, reduced risks of cardiovascular diseases, a rich source of omega 3 fatty acids, and reduced breast cancer risks will promulgate the product portfolio. In addition, strengthening the immune system, increased metabolism rates, high cell growth, and prevention of osteoporosis will further drive the business expansion.

Fats obtained from vegetables are majorly extracted from seeds such as soybean, rapeseed, and sunflower or other parts of the fruits. Rapid technological advancements & innovations pertaining to several crop irrigation techniques and seed treatment methods along with significant R&D investments by major players will drive market growth. Regulatory guidelines & policies set by government bodies across the globe will boost industry expansion. For instance, as per The American Heart Association daily intake of the vegetable fats should be 5% to 6% of the total calorie consumption in a day. However, fluctuating raw material costs along with changing agricultural scenarios may pose major threats to the overall product price trend.

Unsaturated type accounted for a share of more than 60% in the overall vegetable fats market in 2018. Increasing consumer demand for nuts, fruits, and seeds containing high amounts of unsaturated vegetable fats owing to the ability to lower bad cholesterol and triglyceride levels in the body will fuel the product demand in the overall industry landscape. For instance, as per the daily dietary guidelines, 25% to 35% of the daily calorie intake should come from fats present in nuts & seeds.

Coconut is anticipated to witness over 6.5% growth in terms of revenue up to 2025. Coconut is widely used for the extraction of oils & fats from tender or dried kernels, which are colorless & tasteless in nature. Increasing product usage in the manufacture of several bakery items coupled with significant additions in various dishes across the globe will propel the vegetable fats market.

Spreads & dressings in the food application are projected to surpass USD 32 billion by 2025. Shifting consumer preferences toward healthy diet regimes owing to rising obesity and cardiovascular diseases across the globe will augment the vegetable fats market. Extensive use of spreads & dressings in the preparation of various salads, sandwiches, and other dishes will fuel the product demand.

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Asia Pacific vegetable fats market accounted for over USD 45 billion in 2018. Increasing demand for alternative biofuels in the transportation industry coupled with rapid population growth in developing nations, such as China, India, and Malaysia, will propel the market share. Growing product demand in several applications, such as snacks & savory, sauces, and spreads & dressings, owing to an upsurge in the fast-food sector will provide a strong outlook for business expansion across Asia Pacific.

Major manufacturers in the Vegetable Fats Market are
• Unilever
• Archer Daniels Midland Company
• IFFCO Group
• United Plantation Berhad
• Conagra Foodservice
• Wilmar International
• Ajinomoto Co., Inc.
• Carapelli SPA
• Richardson International
• J-Oil Mills (Thailand) Co.
• CHS Inc.

The key manufacturers are involved in production capacity expansions, long-term agreements, mergers & acquisitions, and new product launches to gain a competitive edge over other players. For instance, in November 2017, Wilmar International Ltd. entered into an agreement to purchase edible oil facilities in Kuantan from Cargill. This purchase helped the company to expand its business operations further across the region.

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