Fats And Oils Market Poised for 6.9 % Growth, Set to Hit $256.35 Billion by 2029

How Are the key drivers contributing to the expansion of the fats and oils market?
The overproduction of crops, causing their prices to plummet, is an issue faced by various countries worldwide. This, in turn, could result in reduced raw material costs for companies manufacturing fats and oils. For instance, in the Frontline report of November 2022, an agro-based national magazine in India, the Cabinet Committee on Economic Affairs announced an $8.4 billion bailout package (Rs 7000 crore) specifically for sugar producing farmers. This package will establish the minimum selling price of refined sugar at $0.35 (Rs 29 per kilogram), which has recently dropped to Rs 23-24 due to overproduction, and encourage the creation of a buffer stockpile of 3 million tons of sugar for the coming year. This surplus production of particular crops is predicted to result in increased profit margins for food and beverage companies. Such higher profit margins will allow fat and oil manufacturers to boost their productivity and propel the market in the future.

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What growth opportunities are expected to drive the fats and oils market's CAGR through 2034?
The market size for fats and oils has experienced significant expansion in the past few years. Predictions show an increase from $182.94 billion in 2024 to $196.61 billion by 2025, with a compound annual growth rate (CAGR) of 7.5%. This upward trend throughout the historical period can be credited to dynamic economic advancement in developing markets, global population growth, and shifts in habits.

Expect a significant rise in the fats and oils market over the coming years, with projections suggesting it will reach a value of $256.35 billion by 2029, expanding at a Compound Annual Growth Rate (CAGR) of 6.9%. Prominent driving factors for this growth during the forecast period include government support, a rising demand for vegetable oil in sectors like energy and cosmetics, demand surge from consumers prioritizing health, and intensifying demand in the food service and retail sectors. Notable trends within this forecasted period encompass the production of cooking oils through fermentation that offer a clean, neutral taste and high smoke point, a strategic focus on leveraging e-commerce platforms, advancements in innovative fat technologies, shifts towards automated cooking oil management systems and the creation of innovative products through cutting-edge technologies.

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What are the emerging trends shaping the future of the fats and oils market?
The surge in demand from those mindful of their health has led to a growing number of manufacturers selling avocado oil. Avocado oil is full of health benefits due to its healthy fat content and vitamin richness. Moreover, the global production of avocado fruit is witnessing a growth, with an increase of five million metric tons and an anticipated annual growth of close to 200,000 metric tons. Mexico contributes significantly to this with its production of approximately 1.8 million metric tons of avocado fruit. This growing fruit production is likely to further boost the demand.

Which growth-oriented segments of the fats and oils market are leading the industry's development?
The fats and oils market covered in this report is segmented -

1) By Type: Fats, Oils
2) By Product Type: Palm Oil, Sunflower Oil, Olive Oil, Soybean Oil, Rapeseed Oil, Other Product Types
3) By Source: Plants, Animals
4) By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
5) By Application: Food And Beverages, Personal Care, Pharmaceutical, Animal Feed, Other Applications

Subsegments:
1) By Fats: Butter, Lard, Tallow, Margarine, Shortening
2) By Oils: Palm Oil, Soybean Oil, Sunflower Oil, Olive Oil, Coconut Oil, Rapeseed Oil (Canola Oil), Corn Oil

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What regions are leading the charge in the fats and oils market?
Asia-Pacific was the largest region in the fats and oils market in 2024. Western Europe was the second-largest region in the fats and oils market. The regions covered in the fats and oils market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What companies are at the forefront of innovation in the fats and oils market?
Major companies operating in the fats and oils market include Bunge Limited, Wilmar International Limited, Archer Daniels Midland Company (ADM), Mewah International Inc, AAK AB, Cargill, Incorporated, The Nisshin Oillio Group, Musim Mas Group, Fuji Oil Co. Ltd, Associated British Foods PLC, Miyoshi Oil & Fat Co Ltd, IOI Group, Fairchem, Australian Chemical Industries Int Co, Jayant Oils And Derivatives Ltd, Atlas Chemicals, Guangdong Jiangmen Chemical Plant, Shanghai Yan'an Grease Chemical Co Ltd, Gysmecol (Guangzhou) Technology Co Ltd, Eastman Chemical Company, BASF SE, Aker BioMarine, Oleon NV, Emery Oleochemicals GmbH, Kao Oleochemical, Ashland Global Specialty Chemicals Inc, Zaplaza Tec, Krasnogorsk Oil Plant Llc, Th Ekobiotek-Uktaine Ltd, Verona Agroexport, Pe Rpc Elitphito, Oliya Voluni, Flp Kasap, Bulk Apothecary, Vigon International, Ingredients Online, Sonneborn LLC, Welch Holme & Clark Co Inc, Amazonian Natural Oils, Copacol foods, Crista Industria E Comercio Ltda, Romero E Jacobucci Ltda, Arab Sudanese Vegetable Oil Company (ASVOC), Emek Yag Sanayii AS, Egenin Kalbi, Balsari Yag Sanayi Ve Ticaret Limited Sirketi, United Foods Company, Abu Dhabi Vegetable Oil Company (ADVOC), AJWA Group Food Industries, Olam Togo SARL.

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What Is Covered In The Fats And Oils Global Market Report?

• Market Size Forecast: Examine the fats and oils market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the fats and oils market for a structured understanding.
• Key Players Overview: Analyze major players in the fats and oils market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fats and oils market.
• Segment Contributions: Evaluate how different segments drive overall growth in the fats and oils market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fats and oils market.
• Industry Challenges: Identify potential risks and obstacles affecting the fats and oils market.
• Competitive Landscape: Review strategic developments in the fats and oils market, including expansions, agreements, and new product launches.

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