Edible Oils & Fats Market to surpass $916 Bn by 2032, Says Global Market Insights Inc.

Major edible oils & fats market participants include Avena Foods Limited, Archer Daniels Midland Company (ADM), The Nisshin Oillio Group, Ltd, Agropur Cooperative, IOI Corporation Berhad, Cargill Inc., Conagra Brands, Inc, Apetit Kasviöljy Oy.

Selbyville, Delaware, March 05, 2024 (GLOBE NEWSWIRE) --

The edible oils & fats market valuation is anticipated to cross USD 916 billion by 2032, as reported in a research study by Global Market Insights Inc.

Relentless innovations and research and development efforts are leading to the industry uprise. In November 2023, in a new collaboration between UK-based Clean Food Group and Roberts Bakery, the former employed its fermentation technology to convert the surplus materials of the latter into oils and fats usable as ingredients in various products. Clean Food Group, a biotech firm, utilized Roberts Bakery's excess as raw material for its specialized fermentation tech, generating oil and fat components.

Notably, bread waste serves as an optimal feedstock for fermentation, and their yeast, tailored for a palm oil alternative, efficiently utilizes all bread waste components post-hydrolysis. Shifts in dietary habits and culinary preferences influence demand, further propelling the edible oils & fats market expansion.

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Synthetic edible oils & fats industry could exhibit a decent growth rate over 2024-2032, claims the report. Synthetic oils, derived from lab-based processes, offer alternatives to traditional plant-based oils. These sources provide consistency, purity, and reduced environmental impact. With innovations in biotechnology and engineering, synthetic oils cater to specific dietary needs, driving market growth. While still emerging, the demand for synthetic edible oils reflects a growing trend toward novel, sustainable, and versatile alternatives in the market.

Salad oils and dressings segment will register a noteworthy CAGR from 2024 to 2032, as per the report. These oils, like olive, avocado, and sesame, are key components in salad dressings, offering distinct flavors and health benefits. With a focus on healthier eating habits, consumers seek oils rich in monounsaturated fats for salads. The versatile nature of these oils, in combination with the increasing preference for homemade dressings, drives market growth as consumers seek flavorful, health-conscious options for their salads and culinary creations.

North America edible oils & fats market will register a robust CAGR between 2024 and 2032, owing to evolving consumer preferences and culinary trends. With a growing focus on healthier diets, there's an upsurge in demand for oils like olive, avocado, and canola, known for their health benefits. The region's diverse food culture, including the popularity of fried foods and baked goods, sustains the demand for a variety of edible oils and fats. This robust market reflects the region's inclination towards healthier options while embracing a wide range of culinary practices.

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Key players operating in the edible oils & fats market include Avena Foods Limited, Archer Daniels Midland Company (ADM), The Nisshin Oillio Group, Ltd, Agropur Cooperative, IOI Corporation Berhad, Cargill Inc., Conagra Brands, Inc, Apetit Kasviöljy Oy, Kaneka Corporation, Wilmar International Limited, Louis Dreyfus Company B.V, Fuji Oil Co., Ltd, GrainCorp, ACH Food Companies, Inc, Bunge Limited

Companies in the edible oils & fats market are employing various strategies to enhance their market presence by participating in launching products at several expos and events that are aimed at showcasing potential in the construction industry. 

In March 2022, Cargill dove into 'smart' fats to enhance plant-based choices in Europe, teaming up with Spanish food tech start-up Cubiq Foods. Their goal is to expedite the creation of healthier, more sustainable, and tastier plant-based food solutions. Through product co-development and commercial go-to-market pacts, they aim to fast-track the widespread adoption of Cubiq's innovative fat technologies. While eyeing global expansion, the collaboration kicked-off with specialized teams focused on Europe and North America.

Partial chapters of report table of contents (TOC):         

Chapter 1   Methodology & Scope
1.1    Industry coverage
1.2    Market scope & definition
1.3    Base estimates & calculations
1.3.1    Data collection
1.4    Forecast parameters
1.5    COVID-19 impact analysis at global level
1.6    Data validation
1.7    Data Sources
1.7.1    Primary
1.7.2    Secondary   Paid sources   Unpaid sources
Chapter 2   Executive Summary
2.1    Edible Oils & Fats market 3600 synopsis, 2018 – 2032
2.2    Business trends
2.3    Source trends
2.4    Type trends
2.5    Application trends
2.6    Distribution channel trends
2.7    Regional trends
Chapter 3   Edible Oils & Fats Market Insights
3.1    Industry ecosystem analysis
3.2    Industry impact forces
3.2.1    Growth drivers
3.2.2    Industry pitfalls & challenges
3.3    Growth potential analysis
3.3.1    By Source
3.3.2    By Type
3.3.3    By Application
3.3.4    By Distribution channel
3.4    COVID- 19 impact analysis
3.5    Regulatory landscape
3.5.1    U.S.
3.5.2    Europe
3.6    Pricing analysis, 2022
3.7    Reimbursement scenario
3.8    Technology landscape
3.9    Future market trends
3.10    GAP analysis
3.11    Porter's analysis
3.12    PESTEL analysis
3.13   Impact of the Russia-Ukraine War

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.