The growth of the Fats and Oils market is driven by rising consumer awareness of health benefits associated with unsaturated fats, increasing demand for biodiesel, and expanding food processing industries. However, market growth is restrained by health concerns related to trans fats, stringent regulations, and the fluctuating prices of raw materials like palm and soybean oil. The shift towards plant-based diets and alternative protein sources also presents both opportunities and challenges for the market.
Lewes, Delaware, July 10, 2024 (GLOBE NEWSWIRE) — The Global Fats and Oils Market Size is projected to grow at a CAGR of 4.26% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 271.5 Billion in 2024 and is expected to reach USD 367.64 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Fats and Oils Market Size”
202 – Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAIL |
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Archer Daniels Midland Company (ADM), Bunge Limited, Cargill Incorporated, Wilmar International Limited, Olam International Limited, AAK AB, Fuji Oil Holding Inc., Musim Mas Group, Associated British Foods PLC, Unilever Plc. |
| SEGMENTS COVERED | By Source, By Type, By Application, and By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
Fats and Oils Market Overview
Health Benefits Awareness: The Fats and Oils Market is driven by the growing consumer recognition of the health advantages associated with unsaturated fats, such as olive oil and avocado oil. The increasing preference for healthier food options is leading to a higher demand, which in turn is creating more market opportunities and stimulating innovation in product offers.
Biodiesel Demand: The increasing demand for biodiesel is a major driving force behind the growth of the Fats and Oils Market. Governments and industry are actively pursuing sustainable fuel options, which has led to an increased demand for oils such as soybean and palm. This trend promotes the growth of the market and encourages investment in improving manufacturing capacities.
Food Processing Industry Growth: The growth of the food processing industry has a direct influence on the Fats and Oils Market. The increasing popularity of processed and convenience meals has led to a higher demand for different types of fats and oils, which are vital ingredients in these products. This has resulted in market growth and the expansion of product applications.
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Health Concerns Over Trans Fats: The presence of health risks related to trans fats significantly limits the growth of the Fats and Oils Market. Regulatory restrictions and changing consumer preferences for trans-fat free products are forcing manufacturers to modify their formulations, which could restrict certain market sectors and raise production costs.
Stringent Regulations: Rigorous restrictions for food safety and quality management in the Fats and Oils Market can hinder its expansion. Adhering to these requirements necessitates a substantial investment in procedures and technology, which presents a difficulty for producers and may limit their chances of entering the market.
Price Volatility of Raw Materials: The Fats and Oils Market encounters difficulties due to the unpredictable fluctuations in the prices of raw materials such as palm and soybean oil. Variable expenses affect the profitability and market stability, prompting firms to implement risk management tactics and potentially resulting in increased consumer prices.
Geographic Dominance:
The Fats and Oils Market demonstrates notable regional domination, with Asia-Pacific taking the lead as a result of substantial production and consumption in countries such as China, India, and Indonesia. The market expansion is propelled by this dominance, which is facilitated by strong demand and supply chains, favourable climatic conditions, and reduced production costs. North America and Europe make substantial contributions, mostly due to their modern food processing businesses and increasing awareness of health. Geographical diversity improves market stability and promotes global trade opportunities.
Fats and Oils Market Key Players Shaping the Future
Major players, including Archer Daniels Midland Company (ADM), Bunge Limited, Cargill Incorporated, Wilmar International Limited, Olam International Limited, AAK AB, Fuji Oil Holding Inc., Musim Mas Group, Associated British Foods PLC, Unilever Plc. and more, play a pivotal role in shaping the future of the Fats and Oils Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.
Fats and Oils Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Fats and Oils Market into Source, Type, Application, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Fats and Oils Market, please Contact Verified Market Research®.
- Fats and Oils Market, by Source
- Plant-based
- Animal-based
- Fats and Oils Market, by Type
- Saturated Fats
- Unsaturated Fats
- Trans Fats
- Fats and Oils Market, by Application
- Food Industry
- Industrial Use
- Feed Industry
- Fats and Oils Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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