Global Vegetable Fats Market
Global Vegetable Fats Market was valued US$ xx Bn in 2019 and is expected to grow US$ xx Bn by 2027, at a CAGR of 5.2% during the forecast period.
Global Vegetable Fats Market
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The report has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Vegetable fats that are extracted from seeds, and other parts of fruits. The fats from seeds of soybean oil, rapeseed oil, and cocoa butter are the example of vegetable fats from grains. Olive oil, palm oil, and rice bran oil are examples of fats from other parts of fruits. Vegetable oils are generally edible oils, while non-edible oils derived mostly from petroleum are named mineral oils. The edible oil processing process includes the extraction and processing of oils and fats from vegetable sources. Demand for rich and high-grade oils and fats, variable consumption habits of consumers, and increasing health awareness among consumers about the disadvantages related to the consumption of animal oil are driving the market growth in the future.
The fast growth of key businesses with the development of new market strategies together with increasing demand for numerous food products across the globe will boost the market share. Major growth in the consumers’ income levels in numerous developing economies, like India, South Africa, Saudi Arabia, and Turkey has encouraged the use of different oils in food, fuel, and industrial applications. Also, advancements in production technology have increased the product supply via productive land growths and yield enhancements, which will further augment the industry growth.
Continuous shifts in competing oil usage have contributed to significant changes in relative prices and the availability of several products. Increasing health concerns among consumers about veracious illnesses, such as high cholesterol, obesity, cardiovascular ailments, and high blood sugar levels, will foster opportunities for business growth.
Strict government policies & guidelines about the proper & adequate intake of fats & oils in the daily diet plan will thrive business growth. For example, as per American health guidelines, the daily intake of 2 tablespoons of oil from nuts, olives, or avocadoes is considered healthy for the human body.
Nevertheless, shifting raw material prices together with enormous capital investments will hamper the overall vegetable fats price trend. Though the demand for vegetable fats is high, they are produced at a lesser rate when associated with animal fats. As a result, there is a reduced number of factories and hence, the production is the law, and raw materials prices are high. This would result in higher selling prices of vegetable prices.
By type, unsaturated vegetable fats held the largest share of the vegetable fats market in 2019. This is mainly because unsaturated fats are considered healthy fats, these fats help decrease the risk of high blood cholesterol levels and have other health benefits when they substitute saturated fats in the diet. Unsaturated fats consist of polyunsaturated fatty acids and monounsaturated fats. Both mono and polyunsaturated fats, when consumed in control and used to substitute saturated or trans fats, can help lower cholesterol levels and decrease the risk of heart disease.
Saturated vegetable fats are expected to register the highest CAGR during the forecast period, because of recommendations by health organizations about the globe for saturated fat intake and substituting with vastly processed vegetable oils, like canola oil, to decrease heart disease risk and encourage overall health.
By region, the European vegetable fats market holds a revenue share above 40% in 2019 followed by North America. This is mainly because of increasing awareness about the health benefits obtainable by vegetable fats, and growing consumer demand for traditional food recipes in some parts of the region. North American market is the second-largest market, because of the emerging eating habits of the people, growing consciousness about the benefits of vegetable fats and oils, shifting consumer lifestyle towards a healthier diet, and the existence of key market players in the North America region.
Asia-Pacific is expected to grow at the highest CAGR during the forecast period. This is because of the quickly increasing market of the food & beverage industry, and growing consciousness about the benefits of vegetable fats.
Global Vegetable Fats Market Industry Advancement
In May 2020, an international sustainable food investor, Blue Horizon Ventures joined MOIRA CAPITAL PARTNERS on a leading healthy fats project with Cubiq Foods, completing the financing round amid the COVID crisis. The objective is to replace animal fats in processed meat products, dairy derivatives, and saturated vegetable fats (such as coconut oil) in vegan food products.
In March 2020, Kite Hill broadcasted about its growing vegan products into a new category with a plant-based butter alternative featuring almond milk as the key ingredient.
The objective of the report is to present a comprehensive analysis of the Global Vegetable Fats Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Vegetable Fats Market dynamics, structure by analyzing the market segments and project the Global Vegetable Fats Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Vegetable Fats Market make the report investor’s guide.
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Global Vegetable Fats Market, By Type
- Saturated
- Unsaturated
- Trans
Global Vegetable Fats Market, By Product
- Sunflower
- Coconut
- Saturated
- Palm Oil
- Canola
- Groundnut
- Palm Kernel
- Others
Global Vegetable Fats Market, By Application
- Food
- Industrial
- Others
Global Vegetable Fats Market, By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Key players operating in the Global Vegetable Fats Market
- Archer Daniels Midland Company
- Unilever PLC
- Kite Hill
- Cubiq Foods
- Carapelli Firenze S.P.A.
- Richardson Oilseed Ltd.
- J-Oil Mills Inc.
- CHS Inc.
- United Plantation Berhad
- Ajinomoto.co
- IFFCO
- Conagra Foods
- The J.M. Smucker Company
- Wilmar International Ltd.
- Cargill, Incorporated
- Nestle SA
- AAK AB
- Others
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