Edible Oils and Fats Market Size, Future Trends, Growth Scenario, Industry Research and Global Analysis by 2030

The scope of our recent study, titled "Edible Oils and Fats Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type [Oil (Soybean Oil, Sunflower Oil, Palm Oil, Canola Oil/Rapeseed Oil, and Others) and Fats (Butter, Margarine, Palm Oil Based Shortening, and Vegetable Oil Based Shortening, and Others)] and Application [Food and Beverages (Bakery and Confectionery, Dairy and Frozen Desserts, RTE and RTC Meals, Snacks, and Others), Animal Nutrition, and Pharmaceuticals and Nutraceuticals]" includes the description of factors fueling the edible oils and fats market growth, estimation and forecast of revenue, and identification of significant market players and their key developments, along with market share analysis.

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The edible oils and fats market is expected to grow from US$ 52,920.00 million in 2022 to US$ 78,686.61 million by 2030; it is expected to record a CAGR of 5.1% from 2023 to 2030.

The edible oils and fats and ester of glycerol's and carboxylic acid. Oil are liquid at room temperature while fats are partially solid at room temperature. Edible oils are mainly sourced from soybean, coconut, rapeseed, palm, sunflower, cottonseed. Oils and fats are used in cooking to improve taste and give good texture to the final product. Edible oils are commonly used in industrial food manufacturing and home cooking across the world and are the primary source of unsaturated fats and vitamin E in human diets. The rising importance of the product as a key source of numerous nutritional constituents including vitamin E, selenium, phytosterols, and magnesium in the food and beverage industry is expected to remain a favorable factor over the coming years. These factors expected to drive the market growth in the forecast period in the globe.

Based on type, the edible oils and fats market is segmented into oils and fats. The oil segment held a significant market share in 2022; however, it is also projected to register the highest CAGR during the forecast period. Soybean oil is mainly used for frying and baking and as a condiment for salads. In pharmaceutical applications, soybean oil is indicated for parenteral nutrition as a source of essential fatty acids and calories. The residue of soybean oil is used in animal feed. Thus, such broad application of soyabean oil attracts manufacturers to invest in soyabean oil processing to cater to the increasing demand. In May 2021, ADM announced the expansion of a soybean crushing plant and refinery in the US. This facility aims to increase the production of soyabean oil. Strategies by manufacturers augment the global edible fats and oils market growth for the soybean oil segment.

Based on geography, the edible oils and fats market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific accounted for the largest share of the market. The edible oils and fats market in Asia Pacific is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The market growth is attributed to increasing demand for bakery products, especially breads, cakes, pastries, and muffins, coupled with the growing influence of Western culture on the millennial and Gen-z population in the region.  The bakery sector in China witnessed tremendous growth, with retail sales of bakery products accounting for US$ 34 billion in 2020, according to the United States Department of Agriculture (USDA). Moreover, manufacturers of edible oils and fats actively operate across the region and offer edible oils and fats made with fine-quality oil or its fractions. Distinct melting profiles of butter and margarines, packaging types, and the expansion of antifoaming or antioxidant agents of edible oils and fats are available across the region and widely applicable in many end-use industries such as confectionery, bakery, dairy, and infant nutrition.

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The report segments the edible oils and fats market as follows:

The edible oils and fats market is segmented into type, and application. Based on type, the market is segmented into oil and fats. Based on application, the edible oils and fats market is segmented into food and beverages, animal nutrition, and pharmaceuticals and nutraceuticals. By geography, the edible oils and fats market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

Edible Oils and Fats Market: Competitive Landscape

Bunge Ltd, Archer-Daniels-Midland Co., Fuji Oil Co Ltd, Kao Corp, AAK AB, J-Oil Mills Inc, Cargill Inc, Olam Group Ltd, ConnOils LLC, and Louis Dreyfus Co BV. are a few leading players operating in the edible oils and fats market. These players focus on developing innovative products to meet the changing requirements of consumers.

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