The global fats and oils market is projected to grow, witnessing a CAGR of 6.42% during the forecast period, 2021-2028.
Fats and oils are being used extensively in food applications such as confectioners in the production of candies, and for polishing of confectionery products. Also, refined olive oil and coconut oil are increasingly being used for various bakery applications as it is bland in taste, thereby, allowing food to maintain its original flavour. Additionally, it does not exhibit any pungency, unlike mustard oil.
The rising awareness to use healthier alternatives such vegetable-derived oils among the consumers, increasing health concerns about traditional fats, and increased consumption of processed and baked food items are some of the factors that have supported long-term expansion for Fats & Oils Market.
The supply and demand for fats & oils in the global market has shifted due to the coronavirus crisis, with an increasing uncertainty related to prices. Palm oil, which is the largest type of oil produced globally, faced the impact as demand dropped across the world, trade was disrupted, and production got hampered in Indonesia and Malaysia, according to the top vegetable oils producers, such as Wilmar International and Mehwah Group, which operate in the region.
The Asia Pacific region is projected to be the fastest-growing market for fats & oils. The region is home to two important palm and palm kernel oil-producing countries namely Malaysia, and Indonesia: and two major fats & oils consuming countries namely China, and India. This is one of the significant factor which ensures that Asia pacific region is the largest as well as the fastest-growing market in fats & oils.
Insights are provided for each region and major countries within the regions
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Report Feature |
Descriptions |
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Growth Rate |
CAGR of 6.42% during the forecasting period, 2021-2028 |
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Historical Data |
2018-2019 |
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Forecast Years |
2021-2028 |
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Base Year |
2020 |
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Units Considered |
Revenue in USD billion and CAGR from 2021 to 2028 |
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Report Segmentation |
Type, application and region. |
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Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
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Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
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Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
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Companies Profiled |
Cargill Inc., Sime Darby Plantation, Bunge Limited, AAK, Olam International Limited, ADM, and Wilmar oil. |
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Available Customization |
In addition to the market data for Fats & Oils Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Fats & Oils Market is segmented into type, application and region.
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