Press release
Vegetable Fats Market - Emerging Growth Prospects | Unilever, ADM, CHS Inc., Conagra Foodservice
Vegetable Fats Market
Vegetable Fats Market Size By Type (Saturated, Unsaturated [Monosaturated Fat, Polyunsaturated Fat], Trans), By Product (Soybean, Canola, Palm Oil, Palm Kernel, Groundnut, Sunflower, Coconut), By Application (Food [Bakery, Confectionery, Snacks & Savory, RTE/Convenience Food, Sauces, Spreads & Dressings], Industrial [Biodiesel, Oleochemicals, Animal Feed]), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Ukraine, China, India, Japan, Indonesia, Malaysia, Philippines, Brazil, Argentina, Mexico, Saudi Arabia, Iran, Turkey, South Africa, Egypt), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025
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Expansion of the processed foods industry, predominantly in emerging economies is expected to drive vegetable oils consumption over the forthcoming years. Global processed fruits & vegetables market registered over USD 230 billion in 2017. Top players- Unilever PLC, Archer Daniels Midland Company, IFFCO, United Plantation Berhad, Conagra Foods, Wilmar International Ltd., Ajinomoto.co, Carapelli Firenzi S.P.A, Richardson Oilseed Ltd., J-Oil Mills Inc., CHS Inc.
Significant adoptions made by food manufacturers to fulfill the demand for products with high nutritional content has significantly increased the use of soybean oil as a primary ingredient in food as it has zero trans-fat, minimal saturated fat value, and lesser calories content. Additionally, soybean oil is expected to witness increased demand from the healthcare industry as it is a rich source of vitamins, minerals, and omega-3 fatty acids.
The food segment is expected to surpass 270 kilo tons by 2025. Positive application outlook for food applications to enhance the taste and texture in spreads & dressings, snacks & savory, frying, and bakery driving the vegetable fats market growth. Changing consumer preferences and improved standard of living has led the customers to opt for more healthier consumable fat options.
The vegetable fats market is highly competitive in nature owing to the presence of companies including, Archer Daniels Midland Company, Conagra Foods, Unilever PLC, and IFFCO. The other notable industry players include Richardson Oilseed Ltd., Carapelli Firenze S.P.A., J-Oil Mills Inc., United Plantation Berhad, CHS Inc., Wilmar International Ltd., and Ajinomoto Co. Industry players opt for supply chain agreements with suppliers and distributors to ensure the effective flow of their products across all regions.
Positive application outlook across food and industrial sector for culinary works, perfume formulations, biofuel feedstock, and soap manufacturing will drive the vegetable fats market over the forecast timeframe. The tightening of regulatory guidelines pertaining to recycling and disposal of petrochemical-derived lubricants across biofuel industry has provided new growth avenues for vegetable fats market.
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The global vegetable fats market is dominated by palm oil consumption followed by soybean oil. Factors such as low production cost along with its ability to substitute trans-fat will support the overall industry development. The use of palm oil for cooking and other food applications has gained traction in several countries of Asia Pacific along with certain parts of Africa and Latin America.
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