The Global Oils and Fats market is poised to reach $177.2 billion in 2014 growing at a CAGR of 5.87% to reach $279.7 billion by 2022. Financial rise in the upcoming markets, low oil prices due to intensified competition, High-class Oils and End user knowledge in fitness are the important drivers for the enlargement of the market. Health causes due to overload expenditure, Security issues in case of food, Cost of materials are the key factors restraining the market growth. The demand lies in growth of disposable income of the consumers.
Global oils and fats market is segmented by type, by application and by geography. Based on type, market is segregated into animal fats and vegetable oils. Animal fats are further categorized into tallow, butter, lard and other animal fats. Vegetable oils are further categorized into olive, palm, sunflower, canola, soybean and other vegetable oils. Based on application, market is classified into bakery, snacks & savory, spreads, confectionery, salad dressing and other applications. Market by geography is segmented into North America, Europe, Asia Pacific and rest of the world. Asia-pacific is about to witness the fastest growth during the forecast period.
The Key players in the market include, Cargill, Incorporated, Archer Daniels Midland Company, Unilever PLC, Conagra Foods, Inc., Associated British Foods PLC, United Plantations Berhad, Ajinomoto Co., Inc., Wilmar International Limited and Bunge Limited.
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