Cooking Oils and Fats Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Product Type (Vegetable & Seed Oil, Spreadable Oils & Fats, Butter, Margarine, Olive Oil, and Others); Form (Liquid and Solid); Distribution Channel (Online and Offline); Application (Food Services, Household, and Others); and Region/Country
The cooking oils and fats market is expected to register a robust CAGR of 5% over the period of 2022-2028. This is mostly a result of the rising demand for prepared foods and the expansion of hotels, restaurants, and cafes. People lack the time to cook their own meals and are more impatient now because of changing lifestyles and expanding urban work culture. As a result, fast-food restaurants and shops are growing in popularity. Hence the demand for cooking oils is growing.
The Rising awareness about the developments in fortifying fat and oil with additional minerals, as well as how vegetable oil is healthier than its counterpart, which reduces the risk of breast cancer and cardiovascular disease. The rise of the hospitality industry’s food sector, which includes hotels, restaurants, and cafes, as well as the rising demand for ready-to-eat foods, will all play a part in this development. According to the World Bank, 55% of the world’s population – 4.2 billion inhabitants – live in cities. This trend is expected to continue. By 2050, with the urban population more than doubling its current size, nearly 7 of 10 people in the world will live in cities. Factors like urbanization, economic expansion, and an increase in the middle-class population will keep contributing to the expansion of the cooking oils and fats market.
Cargill Inc., Archer Daniels Midland Company, Bunge Limited, Wilmar International Ltd., Fuji Oil Company Ltd., ConAgra Brands Inc., IFFCO Group, Ottogi Co. Ltd., Associated British Foods Plc, and CJ Cheiljedang Corporation are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product type, the vegetable & seed oil category accounted for the majority share in the market”
Based on product type, the market is divided into vegetable & seed oil, spreadable oils & fats, butter, margarine, olive oil, and others. The vegetable & seed oil category accounted for a significant share of the market among product categories. This is primarily owing to the fact that it is less expensive and vegetable oils are preferred by restaurants and cafes to reduce their expenditure. Furthermore, the proliferation of food outlets due to the rising fast food consumer base is also contributing factor to the market growth of cooking oils and fats.
“Amongst form, the liquid segment market share is substantially larger”
Based on form, the market is divided into liquid and solid segments. Among these, the liquid segment has a significant share. The reason for that is that liquid oils are easier to heat and process and have less water content. Furthermore, liquid fats are considered healthier than their alternative because they include less saturated and trans fats.
“APAC to witness significant growth during the forecast period”
Asia-Pacific is expected to show significant growth in the cooking oils and fats market. The major contributors to the growth of this market are countries like India and China. The increase in infrastructure development in emerging economies, as well as urbanization and an increase in the middle-class population, has contributed to the growth of the APAC market. Additionally, the market is expanding due to a rise in customers looking for sustainable and nutritious food options as well as a rise in sports and fitness lovers in the region. Additionally, the edible oil industry is positively impacted by changes in lifestyle, the rising middle-class population, and increased consumer knowledge of the advantages of a healthy diet.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Cooking Oils and Fats Market|
|2.2.||Research Methodology of the Cooking Oils and Fats Market|
|5||IMPACT OF COVID-19 ON THE COOKING OILS AND FATS MARKET|
|6||COOKING OILS AND FATS MARKET REVENUE (USD BN), 2020-2028F|
|7.1.||Vegetable & Seed Oil|
|7.2.||Spreadable Oils & Fats|
|11.1.1.||The United States|
|11.1.3.||Rest of North America|
|11.2.2.||The United Kingdom|
|11.2.6.||Rest of Europe|
|11.3.4.||Rest of Asia-Pacific|
|11.4.||Rest of World|
|13||COOKING OILS AND FATS MARKET OPPORTUNITIES|
|14||COOKING OILS AND FATS MARKET TRENDS|
|15.1.||Demand Side Analysis|
|15.2.||Supply Side Analysis|
|16||VALUE CHAIN ANALYSIS|
|17.1.1.||Porters Fiver Forces Analysis|
|18.2.||Archer Daniels Midland Company|
|18.4.||Wilmar International Ltd.|
|18.5.||Fuji Oil Company Ltd.|
|18.6.||ConAgra Brands Inc.|
|18.8.||Ottogi Co. Ltd.|
|18.9.||Associated British Foods Plc|
|18.10.||CJ Cheiljedang Corporation|
Research Methodology for the Global Cooking Oils and Fats Market Analysis (2022-2028)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global cooking oils and fats market were the three major steps undertaken to create and analyze the adoption of cooking oils and fats in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global cooking oils and fats market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of cooking oils and fats market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the cooking oils and fats market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product type, form, distribution channel, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of cooking oils and fats market. Further, we conducted factor analysis using dependent and independent variables such as various product type, form, distribution channel, and application of cooking oils and fats. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the cooking oils and fats market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global cooking oils and fats market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of cooking oils and fats market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global cooking oils and fats market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global cooking oils and fats market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, form, distribution channel, and application in the global cooking oils and fats market.
The main objective of the Global Cooking Oils and Fats Market Study
The current & future market trends of global cooking oils and fats market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of cooking oils and fats market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, form, distribution channel, and application.
- Define and analysis of the regulatory framework for the cooking oils and fats market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the cooking oils and fats market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the cooking oils and fats market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry