The major challenge for edible oil and fat industry is the growing health problems caused by oils and fats such as obesity and cardiovascular diseases. Various innovative cholesterol free, low fat, low calorie oils enriched with vitamins and antioxidants are introduced in the market. These innovative products are increasing the demand of oils and fats in the global market.
Global Edible Oils and Fats -Market Taxonomy
Based on product type, global edible oils and fats is segmented into:
Vegetable and Seed oil
Spreadable oils and fats
Based on source, global edible oils and fats is segmented into:
Based on End use industries, global edible oils and fats is segmented into:
Based on Processing, global edible oils and fats is segmented into:
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Various vegetable oils such as soya bean, sunflower, cotton seed, groundnut, coconut oil are commonly used. Edible animal fats utilized are tallow and lard. Oils and fats are extracted using Expeller pressed and cold pressed techniques. In expeller pressed, the pressure and friction results in extraction of oil while in cold-pressed technique low temperatures are used.
Global Edible Oils and Fats Market Outlook
In North America, the edible oils and fats market is driven by advanced manufacturing procedures, high capita per income and increasing demand for fast food by public.
In Europe, there is a shift of consumers to high quality edible oils and fats due increased awareness about health. Low calorie, low fat and cholesterol free oils and fats are majorly preferred in this region, which in turn has anticipated the growth of global edible oils and fats market.
Asia pacific is the largest market for edible oils and fats owing to increasing population especially in India and China.
In South America, Middle East and Africa, the burgeoning growth in the commercial sector have boosted the market for edible oils and fats.
The companies are adopting various organic and inorganic growth strategies to sustain their market positions such as new product launch, geographical expansion, merger and acquisition. An example of such strategy is the acquisition of Dalmia olive oil business by Cargill Inc in 2014. The important players in the market for edible oils and fats are Adani Wilmar Ltd., Ruchi Borges Mediterranean Group, Archer Daniels Midland Company, Cargill Inc., American Vegetable Oils, Inc., Beidahuang Group, Fuji Vegetable Oil, Inc., ConAgra Foods Inc., International Foodstuff Company Limited, Ajinomoto Co., Inc., United Plantations Berhad, Associated British Foods plc, CHS Inc., Unilever plc, Bunge Limited, Mother Diary and Wilmar International Limited.
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