Ester carboxylic acids and glycerols are edible oils and fats. At room temperature, oils are liquid, while at room temperature, fats are partially solid. Fats and oils are used to improve taste and texture in cooking. A growing demand for frying and processed food, an increasing number of restaurants, rapid food connections and the urbanization and increasing population are attributable to consumable oil and fat.
The report provides analysis of global Edible Oil & Fats market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year. According to Acumen Research and Consulting, the global Edible Oil & Fats market is expected to grow at noteworthy CAGR around 7.1 % throughout the forecast period and reach around US$ 165 billion by 2026.
Vegetable oils are expected to continue as a favorable growth factor in reducing the risk of cardiovascular disorders and decreasing the risk for breast cancer. Moreover, because of the exceptional anti-inflammatory properties of omega 3 as a nutrient in the food industry it is projected that soybean, canola and flax seed oil will become quickly adopted. Over recent years, the production of low cholesterol products has increased spending by cooking oil manufacturers, including Unilever PLC and Cargill, Inc. Furthermore, we plan to change consumers ' preference and increase the demand for sunfloss and cocomb oil from fluctuating diet patterns along with hectic lifestyle among working people. Coconut oil provides immunities to bacteria and other pathogens as a rich source of fatty acid. Olive oil is also able to balance the cholesterol ratio between HDL and LDL, ensuring that the blood circulates properly. Increasing concerns about adverse effects such as high risk of coronary heart disease, type 2 diabetes, and brain stroke, caused by trans-fat consumption, are likely to encourage the use of vegetable oil as cooking alternatives. In addition, edible oils are applied as a good flavoring agent due to the combination of peanut or groundnut oil with an exceptional aroma.
Increasing numbers of hotels and restaurant chains from developing countries, including China and India, are projected to boost the usefulness of edible oils due to supporting government policies aimed at improving urban infrastructure. In addition, the shifting preference of middle-class income groups from countries including Saudi Arabia and the UAE to opt out during weekends is expected to open new market avenues in the food service sector over the next eight years.
Due to rising global food demand, the market is growing rapidly. Increasing oils and fats consumption as a result of growing food outlets, hotels and restaurant chains drives market growth. More busy lifestyles have also increased the demand for processed foodstuffs. This in turn increases the growth of the market. Increased public health and awareness of cardiovascular risks, however, are reducing market growth. However, the focus of major manufacturers on the production of healthier oils and low cholesterol fats in the forecast period is expected to drive the market demand. Another key factor behind Iraq's growth in the market of foods that are edible oils and fats was increasing consumption, mainly on oil basis. Lifestyle changes and changing eating habits fuel demand for ready-to-eat food packaged. This promotes the development of the global market for food oils and fats.
In 2018, edible oils generated revenue of over USD 70 billion. Sunflower oil accounted for more than 30 percent of global market share in the same year among oil products. In the next eight years, a favorable factor will be expected to continue in the product's growing importance as the key source of numerous nutritional ingredients, including vitamin E, selenium, phytosterols, and magnesium. Moreover, the presence of zinc in sunflower oils is tracted as immune boosters. Soybean oils are projected to forecast more than 8% CAGR between 2019 and 2026 as a major source of nuts including omega-6, vitamin E and vitamin K, because of increased penetration of soy. Edible fats generated more than $25 billion in 2019 in revenue. The development of vegetative margarine in the developed markets, including Germany and UK, as a major butter supplement is anticipated that new markets will open. In addition, growing concerns about lactose intolerance and glutamic disorders in the aforementioned countries are projected to force consumers to use margarine in the near future as a vegetable-based fat alternative for direct consumption.
Distribution Channel Insights
In 2019, offline channels generated revenues of over USD 50 billion. Supermarkets and convenience stores sell mainly edible oils. Some of the biggest retail chains include Walmart, Reliance Mart, SPAR, and Carrefour. Online sales revenues are anticipated to be CAGR 8.0% from 2019 to 2026, owing to the growing importance of e-commerce portals as the principal means of sales among buyers due to exceptional VAT services including Cash-on-Delivery (COD) and coupon benefits.
The market leader for Asia Pacific accounted for over 30 percent of the world's share in 2018. As a result of population growth, rising disposable earnings and urbanism in emerging economies such as China, India and Bangladesh, the segment is expected to see the impressive CAGR segment. Furthermore, there are plans to be an increase in the popularity of low-calorie fuel oil in the middle-aged groups of the above-named economies. By the end of 2026 Europe should reach over USD 25 billion. Consumers from Spain, Italy and France are expected to increase their predominant consumption of Mediterranean diet to the demand for specialty oils, including olive oil.
Edible Oil & Fats Market by Product
Edible Oil & Fats Market by Distribution Channel
Global Edible Oil & Fats Market, by Geography
The market research study on “Edible Oil & Fats Market (By Product: Edible Oil [Soybean, Coconut, Olive, Sunflower, Other], Edible Fat; By Distribution Channel: Online, Offline) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Edible Oil & Fats market segments with market dynamics and their impact. The report provides insights on global Edible Oil & Fats market by product, by distribution channel and major geographic regions. The report also covers basic technology development policies.
The report offers an overview of the market and statistical diagrams to support the expected figures. Our analysts predict the market scope and future prospects in an insightful way. The Acumen Research and Consulting report contains a comprehensive analysis of the global market in Edible Oil & Fats segmented by molecular type, test type and region. The report outlines numerous growth strategies implemented by companies as well as the latest market trends. The market share and current position of all leading players are discussed in detail. It analyzes players ' new revenue sources and highlights the different strategies.
Key Players & Strategies
The Edible Oil & Fats market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Avena Nordic Grain Oy; Aceities Borges Pont S.A.; ACH Food Companies, Inc.; ADM; and Cargill Inc., among others. The key market participants in the coming years should be expected to continue to experience strategic partnerships with distributors located in emerging economies with significant buyer bases.
Market leaders expand their geography to obtain a focused market share. Strategies are developed and new products will continue to be critically successful in collaboration with buyers. Oil seed farmers in developing countries like China, India and Indonesia are expected to establish a strategic business unit within the next eight years as a result of their strong foothold.