Plant-based Fats Market Trends And Segments Forecast To 2029

The global plant-based fats market size was valued at USD 60.3 billion in 2022 and is grow poised to growing at a CAGR of 18.3% during the forecast period 2023 to 2029. The primary factors that drive the market are the growing of plant-based products such as vegetable oil, plant fat products, rising awareness in health consciousness, and increasing demand for plant-based fat products.

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Saturated Fats to Dominate the Plant-based Fats Market:
Based on type, saturated fats hold the highest market share. The major factor for the rise of this segment is that the use of saturated fat for manufacturing of various edible oils like palm oils, coconut oils, eradicates the need of animal-based fats by replacing with vegetable oils to increase the health awareness to the people. For most people, saturated fats are a real solution to use without any health harm, saturated fats contain in saturated oils which increase the demand for plant-based fats in the market. These factors can drive the Plant-based Fats Market growth.

Asia Pacific Plant-based Fats Market:
Asia Pacific region is expected to grow significantly in the global Plant-based Fats size over the forecast period. Obesity and cardiovascular disease are rapidly growing across the globe, the change in lifestyle in the Asia Pacific region which leads increase in the vegetable edible oils in the region, increasing awareness about the benefits of vegetable oil will leads to increase in the demand for many purposes.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The Plant-based Fats Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share., In February 2022. Givaudan has launched primelock+Tm, a patent-pending, vegan- friendly integrated solutions that mimic animal fat cells, enabling food companies to take plant-based development and consumer satisfaction into new level.

The Plant-based Fats market is segmented based on type, product, application, and geography.
Based on the type, the market is segmented into the following:
• Saturated
• Unsaturated
• Trans

Based on the product type, the market is segmented into the following:
• Soybean
• Canola
• Palm Oil
• Palm Kernel
• Groundnut
• Sunflower
• Coconut

Based on the application, the market is segmented into the following:
• Food
• Industrial
• Others

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key players' profiles in the plant-based fats market report are Archer Daniels Midland Company, Unilever PLC, Kite Hill, Cubiq Foods, Carapelli Firenze S.P.A., Richardson Oilseed Ltd., J-Oil Mills Inc., CHS Inc., United Plantation Berhad and Ajinomoto.co among others.

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This release was published on openPR.