Middle East & Africa Edible Oils and Fats Market Forecast to 2030 - Regional Analysis - By Type

The Middle East & Africa edible oils and fats market was valued at US$3.01 billion in 2023 and is expected to reach US$4.48 billion by 2030; it is estimated to grow at a CAGR of 5.8% from 2023 to 2030.

Growing Demand for Plant-based Shortenings and Low-fat Oils Drive Middle East & Africa Edible Oils and Fats Market

Consumers consider plant-based products healthier than conventional products. Rising health consciousness among consumers propels the demand for plant-based and low-fat products. Thus, manufacturers develop plant-based shortenings and low-fat oils to cater to the rising demand. Plant-based shortenings are non-hydrogenated and do not contain cholesterol and trans-fat. Thus, it is considered a healthier alternative to conventional shortenings. Moreover, the increasing prevalence of cardiovascular diseases, obesity, and diabetes over the years is expected to boost the demand for low-fat products such as low-fat oils among various industries, including bakery & confectioneries, dairy & frozen desserts, and snacking. Rising awareness regarding animal protection and environmental sustainability creates the popularity of plant-based products. As per the data published by “Veganuary” (a nonprofit organization encouraging people to go vegan for the whole month of January) in 2021, ~5.8 million people registered for the “Veganuary Campaign.” Thus, owing to the rising inclination toward veganism, growing demand for plant-based shortening and low-fat oils among various end-use industries is expected to create lucrative opportunities in the Middle East & Africa edible oils and fats market during the forecast period.

Middle East & Africa Edible Oils and Fats Market Overview

The Middle East & Africa edible oils and fats market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The burgeoning population across the region propels the demand for edible oils and fats across various applications such as RTE and RTC meals, dairy and frozen desserts, and snacks. According to the US Soybean Export Council (USSEC), countries such as Egypt, Tunisia, Morocco, Saudi Arabia, and Israel imported over 150,000 metric tons of soybean oil from the US in 2022. The rising consumer awareness about health and wellness has shifted preferences toward healthier oil options such as canola oil, low fat-soybean, and sunflower oil, driving growth in these segments. Moreover, the food & beverage industry’s constant innovation and the growing trend of convenience foods have created a robust demand for edible oils and fats, especially in RTE and RTC meals, snacks, and bakery and confectionery products. Another significant factor fueling the Middle East & Africa edible oils and fats market growth in the Middle East & Africa is the economic development and urbanization in the region. As disposable income is on the rise, consumers are willing to spend on premium and high-quality edible oils and fats. This trend is particularly notable in the bakery and confectionery segment, where high-quality fats such as butter and margarine are essential ingredients. Additionally, the awareness of the health benefits associated with specific oils, such as the cardiovascular advantages of using olive oil, has led to an upsurge in its consumption. The pharmaceuticals & nutraceuticals sector extensively incorporates specialized oils and fats into their products due to their nutritional benefits and functional properties, impacting the overall market positively.

Middle East & Africa Edible Oils and Fats Market Segmentation

The Middle East & Africa edible oils and fats market is segmented based on type, application, and country.

Based on type, the Middle East & Africa edible oils and fats market is bifurcated into oils and fats. The oils segment held a larger share in 2023 . The fats segment is further subsegmented into butter, margarine, palm oil based shortening, vegetable oil based shortening, and others. The oils segment is further subsegmented into soybean oil, sunflower oil, palm oil, canola oil/rapeseed oil, and others.

By application, the Middle East & Africa edible oils and fats market is segmented into food and beverages, animal nutrition, pharmaceuticals and nutraceuticals . The food and beverages segment held the largest share in 2023. The food and beverages segment is further subsegmented into bakery and confectionery, Dairy and frozen desserts, RTE and RTC meals, snacks, and others.

Based on country, the Middle East & Africa edible oils and fats market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa edible oils and fats market in 2023.

AAK AB, Archer-Daniels-Midland Co, Bunge Ltd, Cargill Inc, ConnOils LLC, Kao Corp, Louis Dreyfus Co BV, and Olam Group Ltd are some of the leading companies operating in the Middle East & Africa edible oils and fats market.