Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “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”.
LOS ANGELES, April 25, 2019 (GLOBE NEWSWIRE) -- The global Edible Oil and Fats Market size is estimated to grow at CAGR above 7.1 % over the forecast time frame and reach the market value around USD 165 billion by 2026. Oils and fats are used to enhance the taste and texture in cooking. The demand for edible oils and fats is due to increasing demand for fried or processed foods, an increased number of restaurants and rapid food joints, urban development and the growing population.
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The popularity of edible oil as a major nutrient component is projected to boost demand because of its various advantages, such as improving the immune system and preventing cardiovascular disorder. The scoping of the oilseed products for vegan alternatives to animal fats should be promoted by growing concerns about glutamic disorders in developed countries, including the U.S. and Germany. Moreover, changing lifestyles combined with purchasers ' preferences for diet enriched food products are projected to increase the consumption of edible oils in the next eight years among the middle class revenue groups in developing economies, such as China, Indian and Thailand.
It is expected that offline channels will lead, accounting for over 50% of the total revenue share on the market. Increased levels of supermarkets are projected to be providing consumers with a range of options in terms of editional oils and edible fats in emerging economies such as China, India, Mexico, Brazil and South Africa.
In addition, oils and fats like obesity and cardiovascular diseases pose a major challenge for an edible oil and fat industries. Different innovative, free of vitamins and antioxidants, free cholesterol, low fat, low calorie oils are launched onto the market. The demand for oil and fate on the global market rises with these innovative products.
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Market Snapshots
In 2018, revenues exceeding USD 60 billion in the oil product sector were generated. The increasing importance of calorie-free products including olives and sunflower is projected to continue to be an advantageous factor during the predicted period compared with animal-based fats.
A CAGR of over 7 percent between 2019 and 2026 will be expected in the coconut segment. Due to the effective supply of aminos, vitamins and minerals, the product should gain in importance.
Asia Pacific was the world leader in sales in 2018 with over 30 percent of the global market share. The region is expected to continue in the near future to be dominated by the high concentration of median-aged groups on key markets, such as China, India, Bangladesh and Thailand.
It is expected that by the end of 2026 Europe will reach more than USD 25 billion. Consumer requirements for specialty oils, including olive oil, are projected to increase overall in consumption of Mediterranean diets among consumers in Spain, Italy and France.
The market for Edible Oil and fats is very competitive. Aceities Borges Pont S.A.;; ADM; Avena Nordic Grain Oy; ACH Food Companies, Inc., and Cargill Inc. are key players.
The main success factors for major market participants in the coming years are expected to continue to be strategic partnerships with emergent distributors with significant buyer base.
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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 developing countries 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.
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