Fats & oils are the organic substances which are an essential part of the diet and also used in many industries. Generally, fats are in solid and oils are in liquid form at normal room temperature owing to their chemical properties which include quantity of saturation present in the ester. The method of obtaining oils are processed in such a way that it will obtain the highest grade of edible oil. Inedible oils are suitable for manufacturing soaps and other industrial purposes. Fats & oils are the high energy foods substances which provide 9 calories per gram of fat and has a high energy density as compared to carbohydrates and proteins. Fats & oils have a lubricating, emulsifying, and whipping properties along with high caloric value. The majority of fats and oils are made up of fatty acid esters. Various foods and beverages contain nutrients includes proteins, carbohydrates, vitamins, fats, and minerals. Dietary fats are important to support cell growth in the body and also protect body organs. Moreover, dietary fats are significant for many body processes such as developing hormones and regulate vitamins in the body. Thus, the dietary fats are classified as various groups which include saturated, monounsaturated, trans, and polyunsaturated which has a different effect on cholesterol level.
Fats & Oils Market:Drivers and Restraints
Rising consumption of animal products which in turn driving demand for high-quality edible fats & oils product and processed food, and changing consumer eating habits are the factors which are expecting to boost the demand of fats &oils market over the forecast period. Moreover, rising demand for alternative biodiesel fuel in the transportation sector and increasing overall population worldwide are witnessing the growth opportunity for fats & oils market. However, increasing health concern such as heart-related disease and obesity owing to excessive consumption of fats & oils, rising quality standards, stringent government regulations for food safety and increasing environmental concern may hamper the growth of fats & oils market in near future.
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Fats & Oils Market:Segmentation
The fats & oils market has been classified on the basis of the range of product type, application, animal fats, form, and source.
Based on product type, the fats & oils market is segmented into the following : Palm, Sunflower, Olive, Soybean & Rapeseed. Based on application, the fats & oils market is segmented into the following: Food, Industrial, Personal care, Animal feed & Pharmaceutical. Based on animal fats, the fats & oils market is segmented into the following: Butter, Ghee, Lard & Suet. Based on form, the fats & oils market is segmented into the following: Liquid & Solid. Based on sources, the fats & oils market is segmented into the following: Plants & Animals.
Fats & Oils Market:Overview
Based on product type, palm oil is the most lucrative segment among others owing to low cost, neutral taste as compared to other oils and high demand in the bakery and processed foods sector. Shifting in the consumption of edible oils owing to use of hydrogenated fats for baking products. In Europe, there has been a continuous shift in oil consumption from food to industrial purpose mainly because of the rising demand for rapeseed oils for the production of biodiesel. In Latin America, the use of soybean oil has also increased for biodiesel production owing to government mandates for biofuel. According to IHS Inc., in 2015, Asia account for the maximum revenue growth in the global production of fats and oils market, of this Indonesia account for 18% of global production followed by 14% by China.
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Fats & Oils Market: Region-wise Outlook
Depending on the geographic region, fats & oils market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. North America dominates the fats & oils market owing to the high living standard of people, high consumption of animal products in these regions. Asia Pacific, Middle East and Africa hold huge potential and shows substantial growth owing to rising population base, increasing disposable income coupled with consumption of fast foods and growing health awareness among population are the factors that can drive the market in near future in these regions.
Fats & Oils Market:Key Players
Key players of fats & oils market are Cargill, Incorporated, Associated British Food Plc., Unilever Plc., Archer Daniels Midland Company, Wilmar International Limited, United Plantations Berhad, Ajinomoto Co. Inc., International Foodstuff Company Holdings Ltd., and Bunge Limited.
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