Global Fats & Oils Market: Snapshot
Edible fats and oils are either used as staples in diets while inedible ones have a wide variety of industrial applications. Diet fats and oils are considered as highly concentrated forms of energy and occupy a vital role in promoting growth of cells. In addition, they are consumed to protect various body organs, apart from their functions in regulating hormones and vitamins in the body. In additions, edible oils and fats are source of various essential fatty acids (EFA), such as linoleic acid and a-linolenic acid. Depending on whether oils are monounsaturated or polyunsaturated, they have a significant effect on the cholesterol levels of the body. Recent advances in production processes of edible fats and oils have led to the advent of high-grade products. The growing consumption of animal products also bodes well for the market for edible fats and oils. The growing prevalence of cardiovascular diseases in emerging and developed nations is expected to boost the uptake of diet fats and oils.
Inedible oils are holding great promise in the transport sector for developing alternative biodiesel fuels for automobiles. Oils such as those made from palm, coconut, rapeseed, and corn are extensively used in manufacturing soaps to facilitate saponification. Emerging quality standards and more exacting environmental requirements are expected to open up numerous exciting opportunities for the production of vegetable oils. For instance, this has led to the construction of new oil production plants in various developing markets.
Fats & oils are the organic substances which are an essential part of the diet and also used in many industries. Generally, fats are in solid and oils are in liquid form at normal room temperature owing to their chemical properties which includes quantity of saturation present in the ester. The method of obtaining oils are processed in such a way that it will obtain a highest grade of edible oil. Inedible oils are suitable for manufacturing soaps and other industrial purposes. Fats & oils are the high energy foods substances which provide 9 calories per gram of fat and has a high energy density compare to carbohydrates and proteins. Fats & oils have a lubricating, emulsifying, and whipping properties along with high caloric value. Majority of fats and oils are made up of fatty acid esters. Various foods and beverages contain nutrients includes proteins, carbohydrates, vitamins, fats and minerals. Dietary fats are important to support cell growth in the body and also protect body organs. Moreover, dietary fats are significant for many body processes such as developing hormones and regulate vitamins in the body. Thus, the dietary fats are classified as various groups which includes saturated, monounsaturated, trans, and polyunsaturated which has a different effect on cholesterol level.
Fats & Oils Market: Drivers and Restraints
Rising consumption of animal products which in turn driving demand for high quality edible fats & oils product and processed food, and changing in consumer eating habits are the factors which is expecting to boost the demand of fats & oils market over the forecast period. Moreover, rising demand for alternative biodiesel fuel in the transportation sector and increasing overall population worldwide are witnessing the growth opportunity for fats & oils market. However, increasing health concern such as heart related disease and obesity owing to excessive consumption of fats & oils rising quality standards, stringent government regulations for food safety and increasing environmental concern may hamper the growth of fats & oils market in near future.
Fats & Oils Market: Segmentation
The fats & oils market has been classified on the basis of range of product type, application, animal fats, form, and source.
Based on product type, the fats & oils market is segmented into the following:
Based on application, the fats & oils market is segmented into the following:
- Personal care
- Animal feed
Based on animal fats, the fats & oils market is segmented into the following:
Based on form, the fats & oils market is segmented into the following:
Based on sources, the fats & oils market is segmented into the following:
Fats & Oils Market: Overview
Based on product type, palm oil is the most lucrative segment among others in fats & oils market owing to low cost, neutral taste compared to other oils and high demand in bakery and processed foods sector. Shifting in the consumption of edible oils owing to use of hydrogenated fats for baking products. In Europe fats & oils market, there has been continues shifting of oil consumption food to industrial purpose mainly owing to rising in the demand for rapeseed oils for the production of biodiesel. In Latin America fats & oils market, the use of soybean oil has also increased for biodiesel production owing to government mandates for biofuel. According to IHS Inc., in 2015, Asia Pacific fats & oils market accounts for the maximum revenue growth in the global production of fats and oils market, of this Indonesia account for 18% of global production followed by 14% by China.
Fats & Oils Market: Region-wise Outlook
Depending on geographic region, fats & oils market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. Asia Pacific dominates the fats & oils market followed by Europe, Japan and North America owing to high living standard of people, high consumption of animal products in these regions. Asia Pacific, Middle East and Africa fats & oils market hold huge potential and shows substantial growth owing to rising population base, increasing disposable income coupled with consumption of fast foods and growing health awareness among population are the factors that can drive the market in near future in these regions.
Fats & Oils Market: Key Players
few players of fats & oils market are Cargill, Incorporated, Associated British Food Plc., Unilever Plc., Archer Daniels Midland Company, Wilmar International Limited, United Plantations Berhad, Ajinomoto Co. Inc., International Foodstuff Company Holdings Ltd., and Bunge Limited.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.