Global Cooking Oils and Fats Market Overview:
cooking oils & fats are an essential part of the modern diet. These oils & fats play a role as an energy source and offer a diet with various beneficial micronutrients. Oils and fats are used in cooking to improve taste and give good texture. The demand for cooking oils and fats is attributed to the growing demand for fried and processed food, a growing number of restaurants and fast-food joints, urbanization and increasing population. The inclination towards healthy products due to a change in societal attitudes of consumers is likely to induce the demand for healthy cooking oils. According to AMA, the Global Cooking Oils and Fats market is expected to see growth rate of 4.5%
- The Growth in the Consumption of Cooking Oils and Fats in Households Globally
- Increase in Usage and Consumption of High-Quality Edible Oils/Cooking Oils
- Growing Consumption of Bakery & Confectionery and Processed Foods
- Increasing Demand for Biodiesel
- Changing Lifestyles of Consumers Combined with Increasing Per Capita Disposable Income
- Health Concerns Related to Excessive Consumption of Fats and Oils
- Legislations Related to Labeling of Fats & Oil Products and Its Safety Issues
- Growing Demand from Health-Conscious Population
- Rapid Growth in Raw Material Cultivation and Production
- High Capital Investments in Extraction
Some of the key players profiled in the report are Cargill, Inc. (United States), International Foodstuff Company Limited (United Arab Emirates), Wilmar International Limited (Singapore), Unilever PLC (United Kingdom), Archer Daniels Midland Company (United States), Bunge Limited (United States), Associated British Foods PLC (United Kingdom), Ajinomoto Co. Inc. (Japan), ConAgra Foods Inc. (United States) and United Plantations Berhad (Malaysia). Analyst at AdvanceMarketAnalytics see Global Vendors to retain maximum share of Global Cooking Oils and Fats market by 2024. Considering Market by Distribution Channel, the sub-segment i.e. Supermarket will boost the Cooking Oils and Fats market. Considering Market by Source Type, the sub-segment i.e. Plant will boost the Cooking Oils and Fats market. Considering Market by Form Type, the sub-segment i.e. Liquid will boost the Cooking Oils and Fats market.
In August 2018, Archer Daniels Midland Company purchased certain assets of Brazil-based Algar Agro, including oilseeds processing facilities in Uberlândia in the state of Minas Gerais and Porto Franco in Maranhão. This will enhance the company’s position in important Brazilian bottled oil markets.
Animal fats and vegetable oils are regulated under 40 CFR 112, which has identical requirements for petroleum and non-petroleum oils. Petroleum oils, vegetable oils, and animal fats share common physical properties and produce similar environmental effects. The revision clarifies that the rule applies to facilities that handle, store, or transport mainly animal fats and vegetable oils.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Cooking Oils and Fats market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Cooking Oils and Fats market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Raw material suppliers/growers, Oilseed suppliers/growers, Fat and/or oil processors/manufacturers, Intermediary suppliers, End Users and Government bodies, venture capitalists, and private equity firms.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.