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Cooking Oils and Fats Market Growing Demand, Production Scope, Revenue and Forecast 2022 to 2031

Cooking Oils and Fats Market

Cooking Oils and Fats Market

Cooking Oils and Fats Market by Product Type, Form, and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2022-2031

PORTLAND, OR, UNITES STATES, October 25, 2022 / -- Cooking oils and fats are primarily composed of polyunsaturated, saturated, and monounsaturated fatty acids, which are the fundamental components of every individual's normal diet. Oils and fats are the primary sources of essential fatty acids and are calorie-dense macronutrients. are good transporters of fat-soluble vitamins A, D, E, and K. Oils and fats are important in the baking and confectionery industries.

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Increase in awareness of adverse side effects of transfat in traditional users is expected to hamper the cooking oils and fats market growth.

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.

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.

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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. This aim must be implemented by EU member states (countries), together with national regulations and incentives such as blending requirements. Palm oil accounts for approximately 20% of the European Union's output of biodiesel (fatty acid methyl ester) and renewable diesel (hydro-treated vegetable oil). Rapeseedand animal fats are two additional important feedstock for the production of diesel alternatives.

According to the global cooking oils and fats market, the market players have adopted various developmental strategies to expand their cooking oils and fats market share, increase profitability, and remain competitive in the market. 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.

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.

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