Thanks
to the increased awareness among consumers regarding the benefits of
edible oils across the world, the global market for edible oils is
registering a tremendous rise. With its cost efficiency, the global
market is likely to remain lucrative in the years to come. According
to Transparency Market Research (TMR), the opportunity in this market
is anticipated to rise at a significant CAGR over the next few years.
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Here
is a snapshot of how the global edible oil market is performing:
Rise
in Number of Restaurants and Eateries to Support Global Metal
Packaging Market
The
global market of edible oil is primarily driven by the
continued mushrooming of restaurants, eateries, and fast food joints
across the world. The ongoing expansion in various finished food
product industries is also reflecting positively on the demand for
edible oil. In addition to this, the rise in research and development
activities to produce low fat oil with added nutrients, such as rice
bran oil, is projected to boost this market substantially, over the
forthcoming years. Besides, the growing preference for refined oil,
on account of the increasing awareness level among consumers
pertaining to health and fitness, is also anticipated to impact this
market positively in the long run.
Rapeseed
to Continue Witnessing High Demand
Sunflower,
soybean, and rapeseed palm are the key products available in the
global market for edible oil. Among these, rapeseed palm oil has been
registering the most prominent demand. In 2015, the rapeseed palm
segment accounted for a share of around 30% in the overall market,
acquiring the lead in the global market, and is expected to remain
dominant over the next few years.
Asia
Pacific to Dominate Global Edible Oil Market
In
terms of the geography, the global market for edible
oil is mainly
spread across Latin America, North America, Asia Pacific excluding
Japan, Western and Eastern Europe, Japan, and the Middle East and
Africa. Thanks to the growing consumption of edible oil, Asia Pacific
has been leading the global market. This regional market is likely to
acquire the leading position in this market over the forecast period.
The rising population base in China and India is likely to present
new growth opportunities for edible oil producers in Asia Pacific.
The edible oil markets in Europe and North America are also expected
to register a steady progression in the near future.
Strategic
Partnerships for Regional Expansion
The
business landscape in the global market for metal packaging is highly
competitive, thanks to the presence of established players in a large
number. Archer Daniels Midland Co., Beidahuang Group, Bunge Alimentos
SA, Ach Food Companies Inc., Ruchi Soya, and Adani Group are some of
the key players in the global market. These players are focusing on
regional expansion through mergers, acquisitions, and strategic
partnerships.
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