Albany, NY -- (SBWire) -- 02/25/2016 --the market was valued at USD 59,782.3 million in 2014, which is expected to reach USD 65,270.6 million by 2021, growing at a CAGR of 1.2% from 2015 to 2021. The market volume of Global Cooking Oils and Fats was valued at 21,204.5 Kg/Million in 2014, which is expected to reach 22,333.1 Kg/Million by 2021 growing at a CAGR of 0.7% from 2015 to 2021.
The demand for cooking oils and fats market is witnessing an exponential growth owing the increasing high demand for the same in Asia Pacific and Europe.
Asia Pacific dominated the global cooking oils and fats market accounting for more than 35% of the total market and is expected to dominate the market throughout the forecast period. The high demand is attributed to the increasing consumption of cooking oils and fats in the developing countries such as India, China, Indonesia and various others.
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Europe held the second largest market share accounting for more than 20% of the market. However, the cooking oil and fats market is expected to witness a decline by the end of the forecast period, owing to the rising awareness about health and wellness among the consumers in Europe. Products such as margarine and vegetable and seed oils have adverse effects on human health due to which the consumers in Europe are looking to reduce the consumption of such products.
North America held a market share of less than 20%. The cooking oils and fats market is also expected to decline owing to the health issues of the consumers. Excess consumption of vegetable oil and seeds and margarine has shown to increase the risks of coronary heart diseases (CHD) and increases the cholesterol level in the human body.
Rest of the world includes Latin America, Africa and Middle East and it accounted for the lowest market share. However, RoW is the fastest growing market for cooking oils and fats. Due to this, the manufacturers operating in the cooking oils and fats market are looking to penetrate this market for expansion opportunities.
Wilmar International Ltd., ConAgra Foods Inc, Associated British Foods plc, Unilever plc are some of the major players operating in the global cooking oil and fats market.
The report studies the global cooking oils and fats market and provides estimates in terms of revenue (USD Million) and volume (Kg/Million) from 2015 to 2021. Market estimates on the basis of product type have also been provided for each country. The market has been segmented as follows:
Global Cooking Oils and Fats Market, by Product Type
- Vegetable and Seed Oil
- Spreadable Oils and Fats
- Butter
- Margarine
- Olive Oil
- Cooking Fats
Global Cooking Oils and Fats Market, by Geography
- North America
- The U.S.
- Rest of North America
- Europe
- Germany
- The U.K.
- France
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Rest of Asia Pacific
- Rest of the World (RoW)
- Brazil
- U.A.E.
- South Africa
- Rest of RoW
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Cooking Oils and Fats Market Revenue and Volume Is Expected to Reach USD 65,270.6 Million and 22,333.1 Kg/Million Respectively by 2021: Transparency Market Research
Cooking Oils and Fats Market by Type (Vegetable Oil and Seeds, Spreadable Oils and Fats, Butter, Margarine, Olive Oil, Cooking Fats) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2021