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The Future of Cooking Oils and Fats Market

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Ajit More
The Future of Cooking Oils and Fats Market

Market Forecast

The global cooking oils & fats market is likely to touch USD 74,865.82 million at a 1.77% CAGR between 2018-2024, as per the recent Market Research Future (MRFR) report. Cooking oils & fats are made of monosaturated, polyunsaturated, and saturated fatty acids. It has wide applications, including spreads and dressings, sauces, convenience foods, bakery and confectionery, and others. 


Numerous factors are adding to the cooking oils & fats market growth. These factors, according to the recent MRFR report, include increasing use in bakery & dairy industries, hectic lifestyles, rapid urbanization, product variety, and demand for ready-to-eat products such as pastries, doughnuts, breakfast cereals, biscuits, cakes, rolls, and bread. 

On the contrary, strict food safety regulations, especially in developed economies, may limit the global cooking oils & fats market growth over the forecast period. 


Access Report Full Report Below Click links @: https://www.marketresearchfuture.com/reports/cooking-oils-fats-market-8076

Market Segmentation 

The Market Research Future report provides an all-inclusive segmental analysis of the global cooking oils & fats market based on application, source, and type.

By type, the cooking oils & fats market is segmented into fats and oils. Of these, the oils segment will dominate the market over the forecast period and it's predicted to touch USD 49, 145.87 million by 2024. The oils segment is again segmented into olive oil, rapeseed oil, sunflower oil, soybean oil, palm oil, and others. Of these, palm oil will dominate the market. The fats segment meanwhile, is likely to have healthy growth over the forecast period. The fats segment is again segmented into lard and tallow, margarine, butter, and others. Of these, the butter segment will have a major share in the market over the forecast period, and the lard & tallow segment will have a notable growth over the forecast period.


By source, the cooking oils & fats market is segmented into animals and plants. Of these, the plant segment will have the largest share during the forecast period. It is predicted to grow at a 1.63% CAGR. Sunflower, soybean, sesame, peanut, palm, olive, and coconut are the most widely used plant sources to produce oils and fats. Presently, the demand for rice bran oil is on the rise for rising health awareness among consumers. 


By application, the cooking oils & fats market is segmented into spreads and dressings, sauces, convenience foods, bakery and confectionery, and others. Among these, bakery and confectionery will have a major share in the market during the forecast period. It is predicted to touch USD 25,278.66 million at a 0.94% CAGR. 

Regional Analysis

By region, the global cooking oils & fats market report covers the recent trends and growth opportunities across North America, Europe, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will dominate the market during the forecast period for the growing demand for convenience food & bakery and confectionery products. It is predicted to grow at a 2.54% CAGR. China is a key contributor in this region. 

The global cooking oils & fats market in the RoW is predicted to have significant growth over the forecast period. 

Key Players 


Notable players profiled in the global cooking oils & fats market report include Wilmar International Ltd (Singapore), James Richardson & Sons, Limited (Canada), Cargill, Incorporated (US), AAK AB (Sweden), IFFCO (UAE), United Plantations Berhad (Malaysia), Archer Daniels Midland Company (US), Conagra Brands, Inc. (the US), Associated British Foods PLC (UK), and Bunge Limited (US). 

Industry News

February 2020: Hannon Oil Factory has launched five new cooking oil brands- Kaizoot, Zuhur, Al Nakhi, Wazha, and Hawa to offer healthy cooking oils to consumers that will be fit for their modern and active lifestyle. 


NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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