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Fats & Oils Market worth 247.78 Billion USD by 2021
The report "Fats & Oils Market by Type (Palm, Soybean, Rapeseed, Sunflower, and Olive), Animal Fat (Butter, Tallow, and Lard), Application (Food & Industrial), Source (Vegetable & Animal), Form (Liquid & Solid), Brand, and Region - Global Forecast to 2021", The fats & oils market is projected to grow at a CAGR of 4.4%, in terms of value, from 2016 to reach a projected value of USD 247.78 billion by 2021.
Browse 117 market data Tables and 74 Figures spread through 206 Pages and in-depth TOC on "Fats & Oils Market by Type (Palm, Soybean, Rapeseed, Sunflower, and Olive), Animal Fat (Butter, Tallow, and Lard), Application (Food & Industrial), Source (Vegetable & Animal), Form (Liquid & Solid), Brand, and Region - Global Forecast to 2021"
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Fats & oils are widely accepted in food applications due to their functional properties. They play an important role in determining the desired physiochemical and sensory attributes such as smooth, creamy, and rich texture; milky and creamy appearance; and desirable flavors. Fats & oils are used in oleochemical industries and for the production of biodiesel. Hence, fats & oils as a raw material will be viewed as a business opportunity in the next five years for the growth of the oleochemicals and biodiesel industries.
The palm oil segment, with respect to type of oil, is projected to dominate the fats & oils market.
Malaysia is a leading producer of palm oil and a major exporter of processed palm oil products. The demand for palm oil is increasing in bakery & confectionery and processed foods, due to its neutral taste and low cost as compared to other vegetable oils. The demand for fuels from renewable sources is growing; hence, there is an increase in demand for palm oil, which is preferred for biodiesel production.
Vegetable oils: The most widely consumed type of fats & oils.
The vegetable oils segment accounted for the largest share in the fats & oils market, in terms of value and volume, in 2015. Vegetable oils from sources such as sunflower, rapeseed, soybean, palm, cotton seed, and coconut find applications in foods and other industrial applications. Increase in health concerns among consumers and the wide range of products with different tastes and textures fuel the demand for vegetable cooking oils. Vegetable oils with qualities such as low-fat, low-cholesterol, and low-calorie content are registering growth in the fats & oils market.
Asia-Pacific is projected to be the most lucrative market for fats & oils.
In 2015, the Asia-Pacific region accounted for the largest share of the global fats & oils market, in terms of volume, and is projected to grow at the highest CAGR during the forecast period. Increase in population, change in consumer eating habits, and demand for high-quality fats & oils are the drivers for the fats & oils market in the Asia-Pacific region.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as Cargill, Inc. (U.S.), International Foodstuff Company Limited (UAE), Wilmar International Limited (Singapore), Archer Daniels Midland Company (U.S.), and Bunge Limited (U.S.).
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