Portland, OR -- (SBWire) -- 09/28/2017 --Global cooking oils and fats market size accounted for $60,399 million in the year 2015, and is expected to grow at a CAGR of 1.12% to reach $65,260 million by 2022. Technological advancements in the manufacturing process of cooking oils and fats drive the cooking oils and fats market.
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The global cooking oils and fats market is expected to witness notable growth in the coming years. Increase in applications of cooking oils and fats in the emerging countries is expected to foster the market growth in the coming years. Moreover, increase in use of high quality edible oils and fats, growth in disposable income of consumers, and high demand for cooking oils and fats in the food services industries and households drive the market. However, high cost of raw materials for cooking oils and fats products and adverse effects due to excess consumption of oils and fats are some of the restraints for the growth of the cooking oils and fats market. Market players intend to launch healthier cooking oils and fats to cater to the high demand from health-conscious consumers.
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Key Findings of Cooking Oils & Fats Market Study
- The vegetable and seed oil segment occupied the highest share in 2015, and is expected to grow at a significant CAGR of 0.92%, in terms of value, during the forecast period.
- Asia-Pacific is the leading market for cooking oils and fats, followed by Europe.
- The butter segment is expected to grow at the highest CAGR of 1.63%, in terms of value, from 2016 to 2022.
- The U.S. is the leading market for cooking oils and fats in the North American region, growing at a CAGR of 0.70%, in terms of value.
The prominent players profiled in this report include Unilever PLC, Cargill, Inc., International Foodstuff Company Limited, United Plantations Berhad, Wilmar International Limited, Archer Daniels Midland Company, Associated British Foods plc, Bunge Limited, CHS Inc., and ConAgra Foods Inc.
Cooking Oils and Fats Market - Global Opportunity Analysis and Industry Forecast, 2014-2022