Edible Oils And Fats Market is projected to reach US$248.386 billion by 2029 at a significant CAGR of 5.53%
07/03/2024 (EIN News), The edible oils and fats market is anticipated to grow at a CAGR of 5.53% from US$170.362 billion in 2022 to US$248.386 billion by 2029.
NOIDA, UTTAR PARDESH, INDIA, March 7, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the edible oils and fats market is projected to grow at a CAGR of 5.53% between 2022 and 2029 to reach US$248.386 billion by 2029.
Edible fats and oils are foods that contain glycerides of fatty acids. Edible oil products are purified using a range of techniques, including degumming, bleaching, neutralizing, and deodorizing, to ensure uniformity in high-quality oil.
Minor components, or impurities, are physically or chemically separated during the purification process. Animal fats must be sourced from animals that were in good health at the time of slaughter and fit for human consumption, as determined by a competent body recognized in national legislation if they come from slain animals.
The expanding vegan population, health concerns, and industrial uses are driving up demand for edible fats and oils. Consumers are looking for healthier options, which are driving up demand for high-quality oils. To accommodate this demand, manufacturers are enhancing processing technologies and extending their product catalogs.
For instance, Cargill introduced Gemini PureitTM in Karnataka in February 2023, reiterating its commitment to diversifying its edible oil portfolio and expanding as far south as feasible. The Gemini PureitTM brand will be offered in retailers in Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu.
There are many product launches and developments that are taking place in the edible oils and fats market during the forecast period. For instance, In December 2021, Fuji Specialties, Inc. and ITOCHU International Inc., a group business of ITOCHU Corporation with its headquarters in New York, agreed to form a new joint venture firm, Fuji Oil International Inc.
Access sample report or view details: https://www.knowledge-sourcing.com/report/edible-oils-and-fats-market
The global edible oils and fats market, based on different types is categorized into- vegetable oil and edible fats. Vegetable oils, obtained from plants and seeds, are used in cooking, frying, salad dressings, and food processing because of their high lipid content, neutral flavor, and versatility. Soybean, palm, canola, sunflower, corn, olive, coconut, peanut, and sesame oils are among the most common, each having its own set of properties and nutritional profiles.
Edible fats from animal and plant sources are used in food preparation, baking, confectionery, and manufacturing to improve texture, structure, mouth feel, and flavor. Butter, lard, tallow, shortening, margarine, and specialized fats are all examples of common forms. They improve sensory characteristics, palatability, and indulgence, making foods more enticing to consumers.
The global edible oils and fats market, based on different forms is categorized into- liquid and powder. Liquid edible oils, primarily plant-derived, are utilized in cooking, frying, salad dressings, and food processing. Common types include soybean, palm, canola, sunflower, corn, olive, coconut, peanut, and sesame oil, providing essential fatty acids, vitamins, and antioxidants.
Powdered edible fats are lipid-based components derived from animals and plants that have been ground or granulated for ease of use, storage, and inclusion into food compositions. They provide benefits such as better dispersibility, shelf stability, less oxidation, and greater usefulness in dry mixes, instant goods, and powdered drinks.
The global edible oils and fats market, based on different applications is categorized into- food and industrial. Edible oils and fats are necessary for the food industry for cooking, baking, frying, flavoring, and formulation. They improve the flavor, texture, fragrance, and nutritional profile of food items and are prized for their nutritional content, which includes important fatty acids, fat-soluble vitamins, and antioxidants.
Edible oils and fats are used in a variety of industries, including cosmetics, personal care, medicines, animal feed, biofuels, lubricants, and oleochemicals, due to their functional qualities, lubricating abilities, emulsifying skills, and chemical reactivity. They act as both raw materials and functional components.
As a part of the report, the edible oils and fats market that have been covered are AAK International, Archer Daniels Midland Company, Bunge Limited, Cargill, Incorporated, Fuji Oil Co., Ltd., Mewah International Inc., Oleo Fats, Inc. (D&L Industries), Richardson International Limited, Unilever Plc, Vega Foods, and Wilmar International Limited.