Press release
Edible Oils and Fats Market Share, Trends, Demand, Outlook, Opportunities and Market Forecast 2023-2030
The worldwide dietary choices are fundamentally linked to the market's dynamic. Consumption patterns of various edible oils and fats are significantly influenced by the wide variety of dietary customs and culinary traditions that exist across different locations. For instance, palm oil is widely used in Asian cooking customs, but olive oil is a staple of Mediterranean food. Consumer preferences have changed as health and nutrition have become more widely known.
The shift from traditional home-cooked meals to more convenient and processed food options occurs when more people move to urban areas. This change increases the amount of edible oils that are used in packaged foods and foodservice operations. Dietary choices have changed as a result of economic expansion and the corresponding rise in disposable incomes, particularly in emerging economies.
Edible Oils and Fats Market Size and Growth Analysis
The Global Edible Oils and Fats Market reached US$ 469.5 billion in 2022 and is expected to reach US$ 824.8 billion by 2030, growing with a CAGR of 7.3% during the forecast period 2023-2030.
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Edible Oils and Fats Market Dynamics
More and more people who are concerned about their health are closely reading the nutritional labels on food items. They search for oils and fats with labels that say things like "high in unsaturated fats," "low in saturated fats," and "trans fat-free." More manufacturers are being pressured to provide more detailed and clear nutritional information due to greater label scrutiny.
Consumers are now making more informed decisions based on the nutritional properties of edible fats and oils, which drives up demand for healthier solutions. The Food Safety and Standards Authority of India (FSSAI) states that all food items must have less than 2% trans-fat content as of January 2022. Government backing of this kind is pressuring producers to create edible oils and fats devoid of trans fats.
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Edible Oils and Fats Market Segment Analysis
By Type
By Nature
By Distribution Channel
By Application
By End-User
By Region
Major Companies Covered
Wilmar International, Cargill, Incorporated, Bunge Limited, Louis Dreyfus Company B.V., IOI Group, Sime Darby Plantation, United Plantations Berhad, Gemini Edibles & Fats India Limited, AAK AB
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