This report describes and explains the fats and oils market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.
The global fats and oils market reached a value of nearly $179.31 billion in 2022, having grown at a compound annual growth rate (CAGR) of 3.3% since 2017. The market is expected to grow from $179.31 billion in 2022 to $240.69 billion in 2027 at a rate of 6.1%. The market is then expected to grow at a CAGR of 6.2% from 2027 and reach $325.80 billion in 2032.
Growth in the historic period resulted from strong economic growth in emerging markets, growth in world population and increase in changing dietary patterns.
Going forward, government support, increasing demand for vegetable oil in the energy and cosmetic industries, increase in demand from health-conscious consumers, growing demand in the food service and retail industries will drive the growth. Factors that could hinder the growth of the fats and oils market in the future include Russia-Ukraine war impact, government regulations and volatile raw material prices.
The fats and oils market is segmented by type into fats and oils. The oils market was the largest segment of the fats and oils market segmented by type accounting for 50.0% of the total in 2022. Going forward, the fats market is expected to be the fastest growing segment in the fats and oils market segmented by type, at a CAGR of 6.3% during 2022-2027.
The fats and oils market is segmented by product type into palm oil, sunflower oil, olive oil, soybean oil, rapeseed oil and other product types. The palm oil market was the largest segment of the fats and oils market segmented by product type accounting for 38.4% of the total in 2022. Going forward, the other product types market is expected to be the fastest growing segment in the fats and oils market segmented by product type, at a CAGR of 6.5% during 2022-2027.
The fats and oils market is segmented by source into plants and animals. The plants market was the largest segment of the fats and oils market segmented by source accounting for 81.5% of the total in 2022. Going forward, the plants market is expected to be the fastest growing segment in the fats and oils market segmented by source, at a CAGR of 6.2% during 2022-2027.
The fats and oils market is segmented by distribution channel into supermarkets/hypermarkets, convenience stores, e-commerce and other distribution channels. The supermarkets/hypermarkets market was the largest segment of the fats and oils market segmented by distribution channel accounting for 38.8% of the total in 2022. Going forward, the e-commerce market is expected to be the fastest growing segment in the fats and oils market segmented by distribution channel, at a CAGR of 6.4% during 2022-2027.
The fats and oils market is segmented by application into food and beverages, personal care, pharmaceutical, animal feed and other applications. The food and beverages market was the largest segment of the fats and oils market segmented by application accounting for 70.4% of the total in 2022. Going forward, the food and beverages market is expected to be the fastest growing segment in the fats and oils market segmented by application, at a CAGR of 6.2% during 2022-2027.
Asia Pacific was the largest region in the fats and oils market, accounting for 52.1% of the total in 2022. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the fats and oils market will be Africa, and, South America where growth will be at CAGRs of 15.1% and 11.2% respectively. These will be followed by the Middle East and Asia Pacific where the markets are expected to grow at CAGRs of 8.2% and 6.1% respectively.
The global fats and oils market is fairly fragmented, with number of players in the market. The top ten competitors in the market made up to 24.27% of the total market in 2022. Bunge Limited was the largest competitor with 5.64% of the market, followed by Wilmar International Limited with 5.27%, Archer Daniels Midland Company (ADM) with 3.69%, Mewah International Inc. with 2.72%, AAK AB with 1.80%, Cargill, Incorporated with 1.56%, The Nisshin Oillio Group with 1.46%, Musim Mas Group with 0.84%, Fuji Oil Co. Ltd with 0.70% and Associated British Foods PLC with 0.59%.
The top opportunities in the fats and oils market segmented by type will arise in the fats segment, which will gain $32.16 billion of global annual sales by 2027. The top opportunities in segment by product type will arise in the palm oil segment, which will gain $23.18 billion of global annual sales by 2027. The top opportunities in segment by source will arise in the plants segment, which will gain $50.94 billion of global annual sales by 2027. The top opportunities in segment by distribution channel will arise in the supermarkets/hypermarkets segment, which will gain $24.35 billion of global annual sales by 2027. The top opportunities in segment by application will arise in the food and beverages segment, which will gain $44.03 billion of global annual sales by 2027. The fats and oils market size will gain the most in India at $10.31 billion.
Market-trend-based strategies for the fats and oils market include focusing on cooking oils produced by fermentation and with a clean, neutral taste and high smoke point, focusing on leverage e-commerce platforms, focusing on novel fat technologies, developing automated cooking oil management systems and developing innovative products by using advanced technologies.
Player-adopted strategies in the fats and oils market include increasing oils and fats refining capabilities, strengthening production plants, increasing comprehensive, integrated capabilities in edible oils and fats, and expanding through strategic acquisitions.
To take advantage of the opportunities, the publisher recommends the fats and oils companies to focus on launch of clean, neutral taste and high smoke point cooking oils, increase focus on novel fat technologies, focus on technological advancements, focus on product innovations, focus on fast-growing product types, increase focus on plant-based fats and oils, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, participate in trade shows and events, focus on online marketing, continue to focus on fast-growing applications and target online consumers.
The global fats and oils market reached a value of nearly $179.31 billion in 2022, having grown at a compound annual growth rate (CAGR) of 3.3% since 2017. The market is expected to grow from $179.31 billion in 2022 to $240.69 billion in 2027 at a rate of 6.1%. The market is then expected to grow at a CAGR of 6.2% from 2027 and reach $325.80 billion in 2032.
Growth in the historic period resulted from strong economic growth in emerging markets, growth in world population and increase in changing dietary patterns.
Going forward, government support, increasing demand for vegetable oil in the energy and cosmetic industries, increase in demand from health-conscious consumers, growing demand in the food service and retail industries will drive the growth. Factors that could hinder the growth of the fats and oils market in the future include Russia-Ukraine war impact, government regulations and volatile raw material prices.
The fats and oils market is segmented by type into fats and oils. The oils market was the largest segment of the fats and oils market segmented by type accounting for 50.0% of the total in 2022. Going forward, the fats market is expected to be the fastest growing segment in the fats and oils market segmented by type, at a CAGR of 6.3% during 2022-2027.
The fats and oils market is segmented by product type into palm oil, sunflower oil, olive oil, soybean oil, rapeseed oil and other product types. The palm oil market was the largest segment of the fats and oils market segmented by product type accounting for 38.4% of the total in 2022. Going forward, the other product types market is expected to be the fastest growing segment in the fats and oils market segmented by product type, at a CAGR of 6.5% during 2022-2027.
The fats and oils market is segmented by source into plants and animals. The plants market was the largest segment of the fats and oils market segmented by source accounting for 81.5% of the total in 2022. Going forward, the plants market is expected to be the fastest growing segment in the fats and oils market segmented by source, at a CAGR of 6.2% during 2022-2027.
The fats and oils market is segmented by distribution channel into supermarkets/hypermarkets, convenience stores, e-commerce and other distribution channels. The supermarkets/hypermarkets market was the largest segment of the fats and oils market segmented by distribution channel accounting for 38.8% of the total in 2022. Going forward, the e-commerce market is expected to be the fastest growing segment in the fats and oils market segmented by distribution channel, at a CAGR of 6.4% during 2022-2027.
The fats and oils market is segmented by application into food and beverages, personal care, pharmaceutical, animal feed and other applications. The food and beverages market was the largest segment of the fats and oils market segmented by application accounting for 70.4% of the total in 2022. Going forward, the food and beverages market is expected to be the fastest growing segment in the fats and oils market segmented by application, at a CAGR of 6.2% during 2022-2027.
Asia Pacific was the largest region in the fats and oils market, accounting for 52.1% of the total in 2022. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the fats and oils market will be Africa, and, South America where growth will be at CAGRs of 15.1% and 11.2% respectively. These will be followed by the Middle East and Asia Pacific where the markets are expected to grow at CAGRs of 8.2% and 6.1% respectively.
The global fats and oils market is fairly fragmented, with number of players in the market. The top ten competitors in the market made up to 24.27% of the total market in 2022. Bunge Limited was the largest competitor with 5.64% of the market, followed by Wilmar International Limited with 5.27%, Archer Daniels Midland Company (ADM) with 3.69%, Mewah International Inc. with 2.72%, AAK AB with 1.80%, Cargill, Incorporated with 1.56%, The Nisshin Oillio Group with 1.46%, Musim Mas Group with 0.84%, Fuji Oil Co. Ltd with 0.70% and Associated British Foods PLC with 0.59%.
The top opportunities in the fats and oils market segmented by type will arise in the fats segment, which will gain $32.16 billion of global annual sales by 2027. The top opportunities in segment by product type will arise in the palm oil segment, which will gain $23.18 billion of global annual sales by 2027. The top opportunities in segment by source will arise in the plants segment, which will gain $50.94 billion of global annual sales by 2027. The top opportunities in segment by distribution channel will arise in the supermarkets/hypermarkets segment, which will gain $24.35 billion of global annual sales by 2027. The top opportunities in segment by application will arise in the food and beverages segment, which will gain $44.03 billion of global annual sales by 2027. The fats and oils market size will gain the most in India at $10.31 billion.
Market-trend-based strategies for the fats and oils market include focusing on cooking oils produced by fermentation and with a clean, neutral taste and high smoke point, focusing on leverage e-commerce platforms, focusing on novel fat technologies, developing automated cooking oil management systems and developing innovative products by using advanced technologies.
Player-adopted strategies in the fats and oils market include increasing oils and fats refining capabilities, strengthening production plants, increasing comprehensive, integrated capabilities in edible oils and fats, and expanding through strategic acquisitions.
To take advantage of the opportunities, the publisher recommends the fats and oils companies to focus on launch of clean, neutral taste and high smoke point cooking oils, increase focus on novel fat technologies, focus on technological advancements, focus on product innovations, focus on fast-growing product types, increase focus on plant-based fats and oils, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, participate in trade shows and events, focus on online marketing, continue to focus on fast-growing applications and target online consumers.
Table of Contents
1. Executive Summary2. Table Of Contents3. List Of Figures4. List Of Tables5. Report Structure7. Product/Service Analysis -Product/Service Examples
6. Introduction And Market Characteristics
8. Supply Chain Analysis
9. Customer Information
10. Major Market Trends
11. Global Fats And Oils Market Size And Growth
12. Fats And Oils Market, Regional Analysis
13. Global Market Segmentation
14. Market Comparison with Macro Economic Factors
15. Asia-Pacific Market
16. Western Europe Market
17. Eastern Europe Market
18. North America Market
19. South America Market
Executive Summary
Fats And Oils Global Market Opportunities And Strategies To 2032 provides the strategists; marketers and senior management with the critical information they need to assess the global fats and oils market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
- Report will be updated with the latest data and delivered to you within 3-5 working days of order.
Description:
Where is the largest and fastest-growing market for fats and oils? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The fats and oils market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider fats and oils market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics
- Product Analysis
- Supply Chain
- Customer Information
- Key Trends
- Global Market Size and Growth
- Regional Analysis
- Market Segmentation
- Regional Market Size and Growth
- Competitive Landscape
- Key Mergers and Acquisitions
- Market Opportunities And Strategies
- Conclusions And Recommendations
- Market Background: Syrup, Seasoning, Oils, And General Food Market
- Appendix
Scope:
Markets Covered:
1) By Type: Fats; Oils2) By Product Type: Palm Oil; Sunflower Oil; Olive Oil; Soybean Oil; Rapeseed Oil; Other Product Types
3) By Source: Plants; Animals
4) By Distribution Channel: Supermarkets/Hypermarkets; Convenience Stores; E-Commerce; Other Distribution Channels
5) By Application: Food And Beverages; Personal Care; Pharmaceutical; Animal Feed; Other Applications
Companies Mentioned: Bunge Limited; Wilmar International Limited; Archer Daniels Midland Company (ADM); Mewah International Inc; AAK AB
Countries: Australia; China; Bangladesh; India; Indonesia; Japan; South Korea; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time-series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; fats and oils indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Bunge Limited
- Wilmar International Limited
- Archer Daniels Midland Company (ADM)
- Mewah International Inc
- AAK AB
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 643 |
| Published | May 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 179.31 Billion |
| Forecasted Market Value ( USD | $ 325.8 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
