Persistence
Market Research (PMR) delivers key insights on the global edible oil
market in its upcoming outlook titled, “Edible Oils Market (2016 –
2024)”. In terms of value, the global edible oils market is
projected to register a healthy CAGR of 5.1% during the forecast
period (2016–2024). This is attributed to various factors,
regarding which PMR offers vital insights in detail.
“Global
Edible
Oils Market: Increasing Demand from Developing Regions and
Increasing Competition in Developed Markets, Major Players are
Shifting Focus towards Markets with Low Per Capita Edible Oil
Consumption, And Entering into Markets in Countries Such As India,
China, And Brazil, And Mexico”
On
the basis of type, the global edible oils market is segmented into
palm oil, soybean oil, sunflower oil, olive oil, corn oil, canola
oil, specialty blended oils, and other oils. Demand for edible oils
has grown significantly owing to increasing consumption of fried
foods. Changing dietary habits, improving living standards, and
increasing consumer preference for healthy edible oils are factors
expected to drive the growth of the global edible oils market during
the forecast period. On the basis of end-users, the global edible
oils market is segmented into foodservice, food processor, and
retail.
An
increasing number of health conscious consumers and growing awareness
about food contents with trans-fats, partially hydrogenated oils
(PHOs), and cholesterol that are responsible for various chronic
diseases are factors fueling demand for edible oils. Edible oils
manufacturers are adapting new processing technique such as cold
pressing and new edible oils products are introduced in the market,
which is healthier and has balanced fatty acid profile. This makes
them preferred choice of health conscious consumers, in turn driving
demand for such products. Increasing disposable income among the
population in Southeast Asia, Latin America, and Eastern Europe is
one of the factors driving growth of the global edible oils market.
Consumer preference for healthy edible oils such as olive oil, canola
oil, and palm oil is attributed to increasing consumer spending on
food products and food services.
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Increasing
global population and spending on foodservice industries such as
restaurants, hotels, motels, bars, casinos, and catering companies
are expected to fuel demand for edible oils consumption. Increasing
global consumption of edible oils is attributed to significantly high
demand for edible oils from processed food providers.
This
report covers trends driving each segment and offers analysis and
insights of the potential of the edible oils market in specific
regions. Asia Pacific (APAC), Europe, and North America are expected
to register high growth rates between 2016 and 2024.The edible oils
market in Latin America is expected to register significant growth
over the forecast period owing to increasing per capita consumptions
of edible oils in this region. Also, the region is characterized by
easy availability of raw materials for edible oils products such as
soybean oil and sunflower oil throughout the year. APAC is expected
to gain substantial market share owing to high demand for edible oils
from India and China, especially in the food and beverages
industries. In term of value, APAC accounted for 41.2% market share
of the global edible oils market in 2015 and is expected to account
for 42.4% by 2024. The market in APAC is expected to gain 120 BPS
during 2016-2024. In terms of volume, Europe and MEA are expected to
witness a decline in market shares over the forecast period,
attributed to consumer preference for high-quality edible oils.
Key
players in the global edible oils market report include edible oils
suppliers and manufacturers such as Adani Wilmar Limited., Cargill,
Incorporated, Associated British Foods plc, Archer Daniels Midland
Company, Bunge Alimentos S.A., Ruchi Soya Industries Ltd., American
Vegetable Oils, Inc., Beidahuang Group, Borges Mediterranean Group
S.L.U., Fuji Vegetable Oil, Inc., The Adams Group, Inc., and Olympic
Oils Limited.
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