Pune, India -- (SBWIRE) -- 04/20/2018 -- Market Overview:
Increasing demand of healthy edible oil is driving the market growth globally. Palm oil and soybean oil together holds more than 45% of market share in the year 2017. Corn oil will witness higher growth rate during the forecast period due to increasing demand of corn oil from industrial application. The plant source edible oils and fats hold more than two-third of market in 2017 as majority of edible oils and fats are made from plant sources across the world. Animal source fats will witness steady growth rate during the forecast period. There are many types of oils and fats available in market as each one has its unique characteristics which attracts huge number of consumers across the globe. Industrial uses of edible oils and fats such as bio-fuel has boosted the market and will continue to contribute towards market growth during forecast period.
Table consumption of edible oils and fats holds major market share in 2017. APAC holds major market share in table consumption due to presence of large population in Asian Countries especially in China and India. Europe will witness higher growth rate in table consumption of oils and fats during the forecast period. APAC holds major market share in bakery and confectionery application and it is projected to grow with a significant CAGR. Europe will witness higher growth rate in bakery and confectionery of oils and fats during the forecast period.
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Latest Industry Updates:
Dec 2016 ADM introduced Onavita, a new, fully refined, non-GMO flaxseed oil that provides a cost-effective solution for customers looking to add an on-trend, heart-healthy ingredient to their latest food innovations.
Nov 2016 Adani Wilmar Limited (Adani Wilmar), a joint venture between Adani Enterprises (Adani) and Wilmar and Ruchi Soya Industries (Ruchi Soya), agreed to combine their respective procurement, marketing, distribution and sales businesses, for the products.
Aug 2016 Bunge to acquire two oilseed processing plants and businesses in the Netherlands and France from Cargill.
March 2016 ADM reached an agreement to purchase a controlling stake in Harvest Innovations, an industry leader in minimally processed, expeller-pressed soy proteins, oils and gluten-free ingredients
Competitive Analysis:
Key players are focusing majorly on acquisitions of small players to expand their business and penetrate the global edible oils and fats market. Expansion and R & D investments are also the major strategies followed by the players. Expansion will help in capturing the major market and increasing the production capacity to meet the rising demand from consumer's end thereby further contributing to increasing revenue.
The leading market players in the global edible oils and fats market primarily are Archer-Daniels-Midland Co. (U.S.), Associated British Foods Plc. (U.K.), Wilmar International Ltd (Singapore), Bunge limited (U.S.), Adani Wilmar Ltd (India), Cargill, Inc.(U.S.) and Ajinomoto Co., Inc.(Japan) among many others.
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Market Segments:
The global edible oil and fats market has been divided into type, source, processing, fatty acid contents, appplication and region.
On The Basis Of Type: Corn oil, Sesame oil, Olive oil, Palm oil, Coconut oil, Cottonseed oil, Peanut oil, Soybean oil, Safflower oil, Margarine, Butter, Lard, Tallow, and Others
On The Basis Of Source: Plant, Animal, and Others
On The Basis Of Application: Table Consumption, Bakery & Confectionery, Savory Snacks, RTE foods/Convenience foods, Bio-diesel, Animal feed and other
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
Regional Analysis:
Asia Pacific region is expected to maintain its dominant position in upcoming years due to the growing demand, rising awareness, and increasing adoption of innovative edible oils and fats in various applications. Indonesia will witness higher growth in edible oils and fats market during the forecast period (2017 to 2023) due to increasing production of palm oil and its huge demand across the globe. Mexico, and Germany are one of the fastest growing countries in edible oils and fats market in the world due to increasing demand for high quality edible oils playing in the key role.