Fats & Oils Market to hit US$ 334 Bn & Growing at a CAGR of 4% during forecast period 2022-2030

The Fats & Oils market crossed US$ 245 billion mark in 2022 and is expected to hit US$ 334 billion by 2030, recording a CAGR of 4% during the forecast period.
Fats & oils find application in food, animal feed, biodiesel, pharmaceutical, personal care, etc. Animal fats are highly used in pet food, animal feed, and other industrial purposes. Oils derived from plants are highly used for food-based applications. The food segment is expected to pace up with the growing use of fats & oils in food related applications. Further, other segments such as animal feed, biodiesel, pharmaceutical, and personal care are also expected to gain traction during the forecasted year.

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key companies profiled in this research study are:
• Archer Daniels Midland Company
• Bunge Limited
• Wilmar International Limited
• Plantations Berhad
• Ajinomoto Co., Inc.

In this report, the market has been segmented on the basis of:
Type
• Fat
• Butter
• Lard
• Tallow
• Others
• Oil
Vegetable Oil
• Palm Oil
• Soybean Oil
• Sunflower Oil
• Rapeseed Oil
• Others
Application
• Food
• Animal Feed
• Biodiesel
• Pharmaceutical
• Personal Care
• Others
Region
• North America
• Europe
• Asia Pacific (APAC)
• South & Central America
• Middle East & Africa

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Recent strategic developments in fats & oils market:
The fats & oils market has undergone several significant developments, and a few of these have been mentioned below:
• In 2021, Cargill begun construction of state-of-the-art palm oil refinery in Lampung, Indonesia. Palm oil from the Lampung refinery will be produced according to the principles set out in Cargill's Policy on Sustainable Palm Oil and will help provide greater transparency through increased traceability-to-plantation.
• In 2021, Archer Daniels Midland announced that they will build North Dakota's first-ever dedicated soybean crushing plant and refinery to meet fast-growing demand from food, feed, industrial and biofuel customers, including producers of renewable diesel.

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Fats & Oils market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Fats & Oils market segments and regions.

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The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2020-2027? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Fats & Oils market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Fats & Oils market?
4. What are the prominent market trends influencing the development of the Fats & Oils market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Fats & Oils market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?

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This release was published on openPR.