The cooking oils and fats market segments are on the basis of product type, form, distribution channel, and region.
PORTLAND, OR, US, November 6, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Cooking Oils and Fats Market by Product Type, Form, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022–2031” the global cooking oils and fats market size was valued at $63,342.0 million in 2020, and is projected to reach $104,660.2 million by 2031, registering a CAGR of 4.5% from 2022 to 2031. In 2020, the vegetable & seed oil segment accounted for approximately 45% of the global market in terms of value.
𝐀𝐬𝐤 𝐟𝐨𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/request-sample/1809
Increase in awareness of fat and oil fortification, rise in relevance of vegetable oil as a crucial element in lowering the risk of cardiovascular disease & breast cancer, increase in demand in confectionery & bakery, processed & ready-to-eat foods, and the expansion of hotels, cafés, & restaurants drive the growth of the global cooking oils & fats market. Moreover, governments of various countries have established a slew of policies to encourage the production and use of vegetable oils, which present new opportunities in the upcoming years.
𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
The key players profiled in this report include Ajinomoto Co. Inc., Archer-Daniels-Midland Company, Associated British Foods Plc., Bunge Ltd., Cargill Incorporated, CHS Inc., Conagra Brands, Inc., Fuji Oil Holdings Inc., Ghananuts Company Limited, and Wilmar International Ltd
Increase inrelevance of vegetable oil as a crucial element in lowering the risk of cardiovascular disease and breast cancer is expected to function as a positive factor for the growth of the global cooking oils & fats market. Another key element driving the growth of the global cooking oils and fats market is the growing awareness of fat and oil fortification. In addition, increase in demand in confectionery & bakery, processed & ready-to-eat foods, and the expansion of hotels, cafés (HORECA), & restaurants is expected to have a significant influence on the global cooking oils and fats market opportunities for growth.
Based on form, the liquid segment held the highest market share in 2020, holding nearly 87% of the total market share, and is expected to continue its leadership status during the forecast period. However, the solid segment is estimated to register the highest CAGR of 5.6% from 2022 to 2031.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding nearly one-third of the total market share, and is estimated to continue its dominant share by 2030. Moreover, North America is projected to manifest the fastest CAGR of 5.9% during the forecast period.
By value, Asia-Pacific and LAMEA collectively contributed approximately half share of the global market in 2020.The developing countries such as Brazil, India, and China display a huge growth potential for this market on account of high disposable income, decent number of millennial population shifting toward consumption of food from food service outlets, and surge in the number of food serviceoutlets in these countries.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞 : https://www.alliedmarketresearch.com/purchase-enquiry/1809
Several governments of various countries have established a slew of policies to encourage the production and use of vegetable oils, causing the industry to expand. The Renewable Energy Directive has largely pushed the European Union’s usage of vegetable oil for biofuel (RED). The directive, enacted in 2009, calls for renewable energy to account for 10% of road and rail transportation energy consumption by 2020.
𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲
On the basis of cooking oils and fats market analysis for region, Asia-Pacific accounted for the largest revenue share of the global market, registering a significant CAGR from 2022 to 2031, followed by North America.
On the basis of cooking oils and fats market trends in 2021, the hypermarkets/supermarkets distribution channel segment accounted for approximately 38% share, in terms of value, and is expected to grow at the highest CAGR of 3.8%.
North America is anticipated to grow at the highest CAGR of 5.9% from 2022 to 2031 in the cooking oils and fats market forecast period.
In 2021, the U.S. generated the highest revenue, accounting for approximately 20% share of the global market.
Brazil is anticipated to grow at a significant CAGR of 3.1% during the forecast period.
𝗧𝗿𝗲𝗻𝗱𝗶𝗻𝗴 𝗥𝗲𝗽𝗼𝗿𝘁𝘀 𝗶𝗻 𝗙𝗼𝗼𝗱 𝗮𝗻𝗱 𝗕𝗲𝘃𝗲𝗿𝗮𝗴𝗲𝘀 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆
Animal and Marine Fats and Oils Market – https://www.alliedmarketresearch.com/animal-and-marine-fats-and-oils-market-A12447
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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