Global
Fats & Oils Market: Snapshot
Edible
fats and oils are either used as staples in diets while inedible ones
have a wide variety of industrial applications. Diet fats and oils
are considered as highly concentrated forms of energy and occupy a
vital role in promoting growth of cells. In addition, they are
consumed to protect various body organs, apart from their functions
in regulating hormones and vitamins in the body. In additions, edible
oils and fats are source of various essential fatty acids (EFA), such
as linoleic acid and a-linolenic acid. Depending on whether oils are
monounsaturated or polyunsaturated, they have a significant effect on
the cholesterol levels of the body. Recent advances in production
processes of edible fats and oils have led to the advent of
high-grade products. The growing consumption of animal products also
bodes well for the market for edible fats and oils. The growing
prevalence of cardiovascular diseases in emerging and developed
nations is expected to boost the uptake of diet fats and oils.
Inedible
oils are holding great promise in the transport sector for developing
alternative biodiesel fuels for automobiles. Oils such as those made
from palm, coconut, rapeseed, and corn are extensively used in
manufacturing soaps to facilitate saponification. Emerging quality
standards and more exacting environmental requirements are expected
to open up numerous exciting opportunities for the production of
vegetable oils. For instance, this has led to the construction of new
oil production plants in various developing markets.
Fats
& oils are the organic substances which are an essential
part of the diet and also used in many industries. Generally, fats
are in solid and oils are in liquid form at normal room temperature
owing to their chemical properties which includes quantity of
saturation present in the ester. The method of obtaining oils are
processed in such a way that it will obtain a highest grade of edible
oil. Inedible oils are suitable for manufacturing soaps and other
industrial purposes. Fats & oils are the high energy foods
substances which provide 9 calories per gram of fat and has a high
energy density compare to carbohydrates and proteins. Fats &
oils have a lubricating, emulsifying, and whipping properties along
with high caloric value. Majority of fats and oils are made up of
fatty acid esters. Various foods and beverages contain nutrients
includes proteins, carbohydrates, vitamins, fats and minerals.
Dietary fats are important to support cell growth in the body and
also protect body organs. Moreover, dietary fats are significant for
many body processes such as developing hormones and regulate vitamins
in the body. Thus, the dietary fats are classified as various groups
which includes saturated, monounsaturated, trans, and polyunsaturated
which has a different effect on cholesterol level.
Fats
& Oils Market: Drivers and Restraints
Rising
consumption of animal products which in turn driving demand for high
quality edible fats & oils product and processed food, and
changing in consumer eating habits are the factors which is expecting
to boost the demand of fats & oils market over the forecast
period. Moreover, rising demand for alternative biodiesel fuel in the
transportation sector and increasing overall population worldwide are
witnessing the growth opportunity for fats & oils market.
However, increasing health concern such as heart related disease and
obesity owing to excessive consumption of fats & oils rising
quality standards, stringent government regulations for food safety
and increasing environmental concern may hamper the growth of fats &
oils market in near future.
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Fats
& Oils Market: Segmentation
The
fats & oils market has been classified on the basis of range of
product type, application, animal fats, form, and source.
Based
on product type, the fats & oils market is segmented into the
following:
- Palm
- Sunflower
- Olive
- Soybean
- Rapeseed
Based
on application, the fats & oils market is segmented into the
following:
- Food
- Industrial
- Personal care
- Animal feed
- Pharmaceutical
Based
on animal fats, the fats & oils market is segmented into the
following:
- Butter
- Ghee
- Lard
- Suet
Based
on form, the fats & oils market is segmented into the following:
- Liquid
- Solid
Based
on sources, the fats & oils market is segmented into the
following:
- Plants
- Animals
Fats
& Oils Market: Overview
Based
on product type, palm oil is the most lucrative segment among others
in fats & oils market owing to low cost, neutral taste compared
to other oils and high demand in bakery and processed foods sector.
Shifting in the consumption of edible oils owing to use of
hydrogenated fats for baking products. In Europe fats & oils
market, there has been continues shifting of oil consumption food to
industrial purpose mainly owing to rising in the demand for rapeseed
oils for the production of biodiesel. In Latin America fats &
oils market, the use of soybean oil has also increased for biodiesel
production owing to government mandates for biofuel. According to IHS
Inc., in 2015, Asia Pacific fats & oils market accounts for the
maximum revenue growth in the global production of fats and oils
market, of this Indonesia account for 18% of global production
followed by 14% by China.
Fats
& Oils Market: Region-wise Outlook
Depending
on geographic region, fats & oils market is segmented into seven
key regions: North America, Latin America, Eastern Europe, Western
Europe, Asia Pacific, Japan, and Middle East & Africa. Asia
Pacific dominates the fats & oils market followed by Europe,
Japan and North America owing to high living standard of people, high
consumption of animal products in these regions. Asia Pacific, Middle
East and Africa fats & oils market hold huge potential and shows
substantial growth owing to rising population base, increasing
disposable income coupled with consumption of fast foods and growing
health awareness among population are the factors that can drive the
market in near future in these regions.
Fats
& Oils Market: Key Players
few
players of fats & oils market are Cargill, Incorporated,
Associated British Food Plc., Unilever Plc., Archer Daniels Midland
Company, Wilmar International Limited, United Plantations Berhad,
Ajinomoto Co. Inc., International Foodstuff Company Holdings Ltd.,
and Bunge Limited.
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