Global Cooking Oils and Fats Market Boosted by High Demand from Asia Pacific, Market to be worth US$65,270.6 bn by 2021

The report is titled “Cooking Oils and Fats Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.” According to the report, the global cooking oils and fats market in terms of volume, is anticipated to grow from 21,204.5 kg million in 2014 to 22,333.1 kg million by 2021, exhibiting a 0.7% CAGR between 2015 and 2021. An overall increase in the usage of edible oil is behind this growth. Based on the information provided in the report regarding the challenges that new entrants face, the marketing strategies implemented by leading companies in the market, and the recent trends, an interested individual or enterprise can effectively make smart decisions regarding investment in the market.

Transparency Market Research (TMR) has announced the addition of a new market study on the cooking oils and fats market. The report analyzes the drivers and restraints of the market and their impact on the demand for cooking oils and fats during the forecast period from 2015 to 2021. As per the findings in the report, the market is expected to be valued at US$65,270.6 bn by 2021, rising from US$59,782.3 bn in 2014 at a 1.2% CAGR from 2015 to 2021.

Cooking oils and fats are essential items in all kitchens and comprise an important part of a healthy human diet. Dietary fats are vital for humans. Polyunsaturated and monounsaturated fats are fats that help in reducing the bad cholesterol level in the human body and saturated fats help increase the level of good cholesterol in the human body.

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The rising demand for cooking oils and fats from emerging markets such as India, Indonesia, and Argentina is expected to push the market for cooking oils and fats. The rising demand for high-quality edible oils is positively affecting the demand for cooking oils and fats across the globe. The rise in the consumption of processed foods and ready to drink beverages is also driving the global cooking oils and fats market. On the other hand, factors that restrain the market include the rising cost of raw materials, which make market expansion difficult, especially for new market players.

Another major challenge for the market is the rise in the prevalence of heart diseases, type 2 diabetes, and several other diseases due to the adverse effects of consuming trans fats.

On the basis of product type, the global cooking oils and fats market is segmented into spreadable oil and fats, vegetable oil and seeds, margarine, butter, olive oil, and cooking fats. Out of these, vegetable oil and seeds accounted for a share of over 50% in the global cooking oils and fats market. Regionally, the global market for cooking oils and fats is segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific accounted for a share of 35% in the global cooking oils and fats market in 2014, followed by Europe. Growth of the cooking oils and fats market in Asia Pacific can be attributed to the high demand from countries such as India, China, Japan, Malaysia, and Indonesia.

Major players operating in the global market that have been profiled in the report include: Associated British Food plc, Cargill Incorporated, Wilmar International Ltd., ConAgra Foods Inc., CHS Inc., Bunge Ltd., Unilever plc, Ajinomoto Co. Inc., Archer Daniels Midland Co., and United Plantations Berhad.

The global cooking oils and fats market is segmented as follows:

Product

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

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