Global Cooking Oils and Fats Market to Reach US$65.2 bn by 2021, Driven by Increasing Demand from RoW

Transparency Market Research has published a new report on the global cooking oils and fats market. As per the report, the global cooking oils and fats market is expected to progress from US$59.8 bn in 2014 to US$65.2 bn by 2021. The report, titled ‘Cooking Oils and Fats Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021’, states that the global cooking oils and fats market is expected to expand at a 0.7% CAGR during the period from 2015 to 2021.

Cooking fats and oils form an essential part of a healthy diet. Dietary fats are essential for human health. Whereas saturated fats increase the level of low-density cholesterol in the human body, polyunsaturated and monounsaturated fats help lower the levels of harmful cholesterol in the body and in fact may enhance the levels of beneficial high-density cholesterol. Drinks and food products contain various nutrients essential for the growth of the human body. Dietary fats are essential for various processes such as for making hormones and for circulating essential vitamins in the human body. The increasing demand for cooking fats and oils in developing and developed nations is expected to propel the global market for cooking oils and fats during the forecast period.

The global cooking oils and fats market is segmented on the basis of region and product type. Based on region, the global cooking oils and fats market is divided into Europe, North America, Asia Pacific, and Rest of the World. In 2014, in terms of revenue, Rest of the World dominated the global cooking oils and fats market. Increasing disposable income and changing lifestyle trends are expected to propel the Rest of the World cooking oils and fats market in the years to come. The Rest of the World cooking oils and fats market is predicted to expand at a 1.60% CAGR during the period from 2015 to 2021, a rate more than twice as much as that of the global market. The Asia Pacific cooking oils and fats market is predicted to be the second largest market in the coming few years.

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Wilmar International Ltd, Associated British Foods plc, Ajinomoto Co. Inc., Unilever plc, and CHS Inc. are some of the leading companies in the global cooking oils and fats market. The introduction of new products by new entrants is expected to increase the level of competition for the leading players in the global cooking oils and fats market in the coming five years. By product type, the global cooking oils and fats market is classified into vegetable and seed oil, butter, olive oil, cooking fats, spreadable oils and fats, margarine, and others. In 2014, in terms of revenue, the global cooking oils and fats market was dominated by the vegetable and seed oil segment.

Excessive consumption of oils and fats pose various health issues, thus hampering the growth of the global cooking oils and fats market. Processed foods such as doughnuts, pizza, and French fries contain high amount of trans fats, which affect the human health adversely if consumed regularly. However, the use of high-quality oils and edible oils is predicted to propel the global cooking oils and fats market in the years to come. Suitable replacements for trans fats will create new growth opportunities for the global cooking oils and fats market in the next few years.

Key Segments of Global Cooking Oils and Fats Market

Global Cooking Oils and Fats Market, by Product Type

• Vegetable and Seed Oil
• Spreadable Oils and Fats
• Butter
• Margarine
• Olive Oil
• Cooking Fats

Global Cooking Oils and Fats Market, by Geography

North America

• U.S.
• Rest of North America

Europe

• Germany
• U.K.
• France
• Italy
• Rest of Europe

Asia Pacific

• China
• India
• Rest of Asia Pacific

Rest of the World (RoW)

• Brazil
• A.E.
• South Africa
• Others