Cooking oils and fats include necessary fatty acids, which play an important role in human health. Cooking oils and fats include varying amount of saturated, poly-unsaturated, and monounsaturated fatty acids. Saturated fats increases cholesterol levels in the body, whereas monounsaturated and polyunsaturated fatty acids reduce cholesterol levels. Dietary fats serve a significant role in the metabolic processes of the body.
Rise in demand for cooking oils and fats in the emerging economies such as India, Indonesia, and Argentina drives market expansion. Furthermore, increase in consumer disposable and busy lifestyle enhance global demand for processed meals and ready-to-eat food options, which drive market expansion. One of the key driving factors of the market is increase in the usage of high-quality edible oils as a result of the rise in cardiovascular disorders. However, the negative consequences of trans fats induced by excessive intake of oils and fats, and the high cost of raw materials, are impeding market expansion. The rise in demand for low-costandhealthy replacements of trans fats is projected to present market players with profitable prospects in the future.
Many cooking oils and fats have health benefits including olive oil, coconut oil, palm oil, butter, and avocado oil. Coconut oil, for instance, is rich in fatty acid called lauric acid, which can improve cholesterol and help kill bacteria and other pathogens. Olive oil raises HDL (High-Density Lipoprotein) (good) cholesterol and lowers the amount of oxidized LDL (Low-Density Lipoprotein) cholesterol circulating in the bloodstream. Avocado oil contains an antioxidant that improves eye health. Palm oil contains carotenoid called beta-carotene that gets converted to vitamin A, which is used to promote eye, bone, and immune health.
Trans fats have a side effect as a result of excessive consumption of oils and fats.Rigorousfood safety regulations imposed by governments in developed and developing nations may be viewed as a key impediment to the expansion of the global cooking oils and fats industry. Furthermore, high raw material costs are posing additional challenges to the growth of the market throughout the forecast period.
There is an increase in demand for high-quality edible oils and fats in the food sector, as consumers are aware of the negative effects of consuming food prepared with low-quality cooking oil. The growth in global population has increased the food demand, which fuels the expansion of the global cooking oils and fats market. In addition, the rise in awareness about the negative repercussions of obesity including cardiovascular disease and diabetes has altered consumer dietary preferences and forced the consumer to find alternatives that will help to maintain good health. On the other hand, the rise in disposable income has encouraged the adoption of healthy cooking oils and fats, which is expected to fuel the worldwide cooking oils and fats market. Cooking oil and fat manufacturers focus on producing better goods, such as low-cholesterol and low-carb products primarily for health-conscious consumers. Cooking oils, such as olive and soybean oil, are beneficial to health since they can lower the risk of heart disease. The growth of market is being aided by increase in demand for these oils from health-conscious customers.
The cooking oils and fats market is segmented on the basis of product type, form, distribution channel, and region. On the basis of product type, the market is segmented into vegetable &seed oil, spreadable oils &fats, butter, margarine, olive oil, and others. By form, the market is segmented into liquid and solid. On the basis of distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, online channels, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA).
According to the global cooking oils and fats market analysis, the market players have adopted various developmental strategies to expand their cooking oils and fats market size, increase profitability, and remain competitive in the market. The key players profiled in this report include Ajinomoto Co. Inc., Archer-Daniels-Midland Company, Associated British Foods Plc, Bunge Ltd, Cargill Incorporated, CHS Inc., Conagra Brands, Inc., Fuji Oil Holdings Inc., Ghananuts Company Limited, and Wilmar International Ltd.
Rise in demand for cooking oils and fats in the emerging economies such as India, Indonesia, and Argentina drives market expansion. Furthermore, increase in consumer disposable and busy lifestyle enhance global demand for processed meals and ready-to-eat food options, which drive market expansion. One of the key driving factors of the market is increase in the usage of high-quality edible oils as a result of the rise in cardiovascular disorders. However, the negative consequences of trans fats induced by excessive intake of oils and fats, and the high cost of raw materials, are impeding market expansion. The rise in demand for low-costandhealthy replacements of trans fats is projected to present market players with profitable prospects in the future.
Many cooking oils and fats have health benefits including olive oil, coconut oil, palm oil, butter, and avocado oil. Coconut oil, for instance, is rich in fatty acid called lauric acid, which can improve cholesterol and help kill bacteria and other pathogens. Olive oil raises HDL (High-Density Lipoprotein) (good) cholesterol and lowers the amount of oxidized LDL (Low-Density Lipoprotein) cholesterol circulating in the bloodstream. Avocado oil contains an antioxidant that improves eye health. Palm oil contains carotenoid called beta-carotene that gets converted to vitamin A, which is used to promote eye, bone, and immune health.
Trans fats have a side effect as a result of excessive consumption of oils and fats.Rigorousfood safety regulations imposed by governments in developed and developing nations may be viewed as a key impediment to the expansion of the global cooking oils and fats industry. Furthermore, high raw material costs are posing additional challenges to the growth of the market throughout the forecast period.
There is an increase in demand for high-quality edible oils and fats in the food sector, as consumers are aware of the negative effects of consuming food prepared with low-quality cooking oil. The growth in global population has increased the food demand, which fuels the expansion of the global cooking oils and fats market. In addition, the rise in awareness about the negative repercussions of obesity including cardiovascular disease and diabetes has altered consumer dietary preferences and forced the consumer to find alternatives that will help to maintain good health. On the other hand, the rise in disposable income has encouraged the adoption of healthy cooking oils and fats, which is expected to fuel the worldwide cooking oils and fats market. Cooking oil and fat manufacturers focus on producing better goods, such as low-cholesterol and low-carb products primarily for health-conscious consumers. Cooking oils, such as olive and soybean oil, are beneficial to health since they can lower the risk of heart disease. The growth of market is being aided by increase in demand for these oils from health-conscious customers.
The cooking oils and fats market is segmented on the basis of product type, form, distribution channel, and region. On the basis of product type, the market is segmented into vegetable &seed oil, spreadable oils &fats, butter, margarine, olive oil, and others. By form, the market is segmented into liquid and solid. On the basis of distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, online channels, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA).
According to the global cooking oils and fats market analysis, the market players have adopted various developmental strategies to expand their cooking oils and fats market size, increase profitability, and remain competitive in the market. The key players profiled in this report include Ajinomoto Co. Inc., Archer-Daniels-Midland Company, Associated British Foods Plc, Bunge Ltd, Cargill Incorporated, CHS Inc., Conagra Brands, Inc., Fuji Oil Holdings Inc., Ghananuts Company Limited, and Wilmar International Ltd.
KEY MARKET SEGMENTS
By Product Type
- Vegetable &Seed Oil
- Spreadable Oils &Fats
- Butter
- Margarine
- Olive Oil
- Others
By Form
- Liquid
- Solid
By Distribution Channel
- Hypermarkets/Supermarkets
- Convenience Stores
- Online Channels
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Saudi Arabia
- South Africa
- Rest of LAMEA
The prominent players operating in this market are:
- Ajinomoto Co Inc,
- Archer-Daniels-Midland Company
- Associated British Foods Plc
- Bunge Ltd
- Cargill Incorporated
- CHS Inc
- Conagra Brands, Inc
- Fuji Oil Holdings Inc
- Ghananuts Company Limited
- Wilmar International Ltd
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Cooking Oils and Fats Market, by Product Type
Chapter 5: Cooking Oils and Fats Market, by Form
Chapter 6: Cooking Oils and Fats Market, by Distribution Channel
Chapter 7: Cooking Oils and Fats Market, by Region
Chapter 8: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Cooking Oils and Fats Market by Product Type, Form, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022–2031” the global cooking oils and fats market size was valued at $63,342.0 million in 2020, and is projected to reach $104,660.2 million by 2031, registering a CAGR of 4.5% from 2022 to 2031. In 2020, the vegetable & seed oil segment accounted for approximately 45% of the global market in terms of value.Cooking oils and fats are primarily composed of polyunsaturated, saturated, and monounsaturated fatty acids, which are the fundamental components of every individual's normal diet. Oils and fats are the primary sources of essential fatty acids and are calorie-dense macronutrients.They are good transporters of fat-soluble vitamins A, D, E, and K. Oils and fats are important in the baking and confectionery industries.
Increase inrelevance of vegetable oil as a crucial element in lowering the risk of cardiovascular disease and breast cancer is expected to function as a positive factor for the growth of the global cooking oils & fats market. Another key element driving the growth of the global cooking oils and fats market is the growing awareness of fat and oil fortification. In addition, increase in demand in confectionery & bakery, processed & ready-to-eat foods, and the expansion of hotels, cafés (HORECA), & restaurants is expected to have a significant influence on the global cooking oils and fats market opportunities for growth.
Several governments of various countries have established a slew of policies to encourage the production and use of vegetable oils, causing the industry to expand. The Renewable Energy Directive has largely pushed the European Union's usage of vegetable oil for biofuel (RED). The directive, enacted in 2009, calls for renewable energy to account for 10% of road and rail transportation energy consumption by 2020. This aim must be implemented by EU member states (countries), together with national regulations and incentives such as blending requirements. Palm oil accounts for approximately 20% of the European Union's output of biodiesel (fatty acid methyl ester) and renewable diesel (hydro-treated vegetable oil). Rapeseedand animal fats are two additional important feedstock for the production of diesel alternatives..
By value, Asia-Pacific and LAMEA collectively contributed approximately half share of the global market in 2020.The developing countries such as Brazil, India, and China display a huge growth potential for this market on account of high disposable income, decent number of millennial population shifting toward consumption of food from food service outlets, and surge in the number of food serviceoutlets in these countries.
The cooking oils and fats market segments are on the basis of product type, form, distribution channel, and region. On the basis of product type, the market is segmented into vegetable & seed oil, spreadable oils & fats, butter, margarine, olive oil, and others. By form, the market is segmented into liquid and solid. On the basis of distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, online channels, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA).
Key Findings Of The Study
- On the basis of cooking oils and fats market analysis for region, Asia-Pacific accounted for the largest revenue share of the global market, registering a significant CAGR from 2022 to 2031, followed by North America
- On the basis of cooking oils and fats market trends in 2021, the hypermarkets/supermarkets distribution channel segment accounted for approximately 38% share, in terms of value, and is expected to grow at the highest CAGR of 38%
- North America is anticipated to grow at the highest CAGR of 59% from 2022 to 2031 in the cooking oils and fats market forecast period
- In 2021, the U.S generated the highest revenue, accounting for approximately 20% share of the global market
- Brazil is anticipated to grow at a significant CAGR of 31% during the forecast period
- According to the global cooking oils and fats market, the market players have adopted various developmental strategies to expand their cooking oils and fats market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Ajinomoto Co. Inc., Archer-Daniels-Midland Company, Associated British Foods Plc., Bunge Ltd., Cargill Incorporated, CHS Inc., Conagra Brands, Inc, Fuji Oil Holdings Inc, Ghananuts Company Limited, and Wilmar International Ltd
Companies Mentioned
- Ajinomoto Co. Inc.
- Archer-Daniels-Midland Company
- Associated British Foods Plc.
- Bunge Ltd.
- Cargill Incorporated, CHS Inc.
- Conagra Brands, Inc.
- Fuji Oil Holdings Inc.
- Ghananuts Company Limited
- Wilmar International Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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