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Market Leaders – Fats & Oils Market
The key players in the fats & oils market include Cargill, Incorporated (U.S.), International Foodstuff Company Limited (UAE), Wilmar International Limited (Singapore), Archer Daniels Midland Company (U.S.), and Bunge Limited (U.S.). Other players include Associated British Foods plc. (U.K.), Ajinomoto Co., Inc. (Japan), United Plantations Berhad (Malaysia), ConAgra Foods, Inc. (U.S.), and Unilever (U.K.).
Key strategies such as expansions & investments, new product developments, and agreements, joint ventures & collaborations were adopted by the prominent players to meet the increasing demand for fats & oils by the food, feed, and oleochemical industries. The leading players invested in R&D capabilities, to offer diversified product portfolios and strengthen their market position.
Strategic acquisitions, agreements, and new product developments were the core strengths of the leading players of the fats & oils market; these strategies were adopted by the players to increase their market presence. They helped the players diversify their business geographically, strengthen distribution networks, and enhance their product portfolios. Market leaders such as Cargill, International Foodstuff Company Limited, Wilmar International, Archer Daniels Midland Company, and Bunge Limited successfully tapped the potential markets through agreements, expansions & investments, and new product developments.
Wilmar International Limited (Singapore) blends, packs, and markets a wide range of edible oils under its own brand names, to wholesalers and distributors in China, Indonesia, India, Vietnam, Bangladesh, and countries of Africa. The company follows joint ventures, agreements, collaborations, and partnerships as its business strategies to expand its presence and operations in the world. In July 2016, Wilmar entered into a joint venture with Bunge Limited (U.S.), which will increase the presence of both the companies in Asia. In January 2016, Yihai Kerry Investments Co., Ltd. (China), which operated as a subsidiary of Wilmar China Limited, entered into a joint venture with Singapore Food Industries Pte. Ltd. (Singapore).
Bunge Limited is involved in the processing and manufacturing of agricultural commodities and products, worldwide. Bunge intends to focus on growth and expansion strategies, along with key acquisition plans. The company strategizes its expansion and growth plans by increasing the production, packaging, and processing capacities at its main units. As a part of its multi-year elaboration program, it plans to double and upgrade the crushing capacity, in order to cater to the increasing demand of the Canadian market. The company focuses on achieving a leading position in the market by adopting strategies such as agreements, partnerships, and acquisitions. In August 2016, Bunge Limited and Cargill signed an agreement, under which Cargill would sell to Bunge two oilseed processing plants and businesses in the Netherlands and France.
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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