Fats and Oils Market by Region - North America, Latin America, Europe, Japan, APEJ, MEA; Product Type - Edible vegetable oil, Palm Oil, Animal Fat, Other Types; End User - Industrial, Residential; Source - Vegetable, Animal; Form - Liquid, Solid - Global

In terms of volume, the global market for fats and oils is projected to reflect a moderate expansion during the forecast period 2017 to 2026, according to a recent report published by Fact.MR. Worldwide sales of fats and oils are estimated to bring in roughly US$ 110,000 Mn revenues by 2026-end.

Competition Tracking

On account of the occupancy of numerous regional and international vendors, nature of the global market for fats and oils is fragmented. Vendors in the market are competing in terms of pricing, portfolio, and product differentiation. Leading players in the market, as profiled by Fact.MR’s report, include Associated British Food Plc, Ajinomoto Co. Inc., United Plantations Berhad, Bunge Limited, Archer Daniels Midland Company, Wilmar International Limited, International FoodStuff Company Limited, and Cargill, Inc.

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Key Research Findings from Fact.MR’s Report

Industrial end-users will continue to dominate the market, in terms of value
Revenues from fats & oils sourced from animals will account for a slightly larger revenue share of the market than those sourced from vegetables
Liquid form of fats and oils will witness a relatively faster expansion in sales through 2026

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Consumers Inclining More toward Fats & Oils Providing Health Benefits

Preference for reducing saturated fat and fat from diet has been unrelenting among consumers over the past few years. The Generation Z and Millennial consumers are at present more inclined toward discerning fats and oils not only as permissible, but also as providing positive health benefits. These consumers are exhibiting ready acceptance of specific fats and oils that benefit their health. The food industry is simultaneously witnessing huge availability of certain plant-derived oils & its narratives, which are espousing healthfulness and naturalness thereby peeking consumer interest. Demand for pantry-friendly, simple and clean ingredients from the food industry has witnessed a significant surge, with growing consumer desire to eliminate genetically modified organisms (GMOs) in their food products, and seek organic foods. The rediscovered respect for importance of taste is a resurgent trend observed in the market.

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Vendors in the market have commenced investing in best substitutes to trans-fat, in a bid to cater changing consumer demand, which in turn has proliferated production of functional and fortified food. This has further prompted vendors in developing new formulations of fats & oils. Growing development of manufacturing hubs across new markets has led to a surge in globalization of olive oil production, which is one of the latest trend being witnessed in the market. Demand for fats and oils however is being restrained on account of factors such as growing health concerns including obesity and heart-related diseases, along with rising environmental concern and stringent government regulations associated with food safety.

7 Key Takeaways from Fact.MR’s Report on Fats and Oils Market for Forecast Period 2017-2026

In terms of value, sales of fats and oils in Asia-Pacific excluding Japan (APEJ) is expected to remain relatively larger than those in all the other regional segments combined. Revenues from fats and oils sales in APEJ will account for over half revenue share of the market by 2026-end.

Europe will also account for a large revenue share of the market during 2017 to 2026. In terms of value, the fats and oils market in North America will remain more lucrative than that in Latin America, however Latin America will register a comparatively faster expansion in the market than North America through 2026.

In terms of value, edible vegetable oils will continue to be the most remunerative product in the market, trailed by animal fat. However, sales of palm oil will register a relatively faster expansion in the market through 2026.

Although industrial end-users of fats and oils will continue to account for largest market revenue share, the revenues from residential end-users in the market will reflect a comparatively higher CAGR through 2026.

Animal-sourced fats and oils are anticipated to remain preferred among end-users in the market, with revenues estimated to remain slightly larger than those from vegetable-sourced fats and oils.

Liquid form of fats and oils will be sought-after in the market, with revenues estimated to reach nearly US$ 60,000 Mn by 2026-end. Although solid form of fats and oils dominated the market in 2017, their demand is expected to witness a slight decline during the forecast period.

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This release was published on openPR.