Cooking Oils & Fats Market Research and Development, Demand, Regions, Analysis of Key Players to 2027
The Global Cooking Oils & Fats Market is
estimated to be valued at USD 74,865.82 Million by 2024 and is
expected to register a CAGR of 1.77% during the forecast
period. The global cooking oils and fats market is expected to
register a prominent growth during the forecast period. Increasing consumption
of oils and fats in the foodservice industry, rising global population, and
increasing demand for bakery & confectionery, and processed &
convenience foods are expected to boost the market growth.
However, increasing health concerns and stringent legislation
for cooking oils and fats are hampering the growth of the market. Increasing
investment in R&D along with technological advancements offer opportunities
for market growth while the major challenge faced by manufacturers of cooking
oils and fats is the fluctuating prices of raw materials in the global market.
Cooking
Oils and Fats Market Analysis
Segmental Analysis
The global cooking oils & fats market has been segmented
on the basis of type, source, application, and region.
By type, the market has been divided into oils and fats. The
oils segment is estimated to retain its dominance throughout the forecast
period of 2019 to 2024. The oils segment is projected to be valued
at USD 49,145.87 Million by the end of 2024. The oils segment has
been further divided into palm oil, soybean oil, sunflower oil, rapeseed oil,
olive oil, and others. Among the oils segment, the palm oil segment accounted
for the largest market share of 22.66% in 2018, and the segment is
projected to expand at a moderate growth rate of 1.15% during
the forecast period. The fats segment is projected to witness a stupendous
growth rate of 2.09% during the forecast period. The fats
segment has been further divided into butter, margarine, lard & tallow, and
others. Among the fats segment, the butter segment accounted for 33.19%
in 2018 and is projected to expand at a below average growth rate
during the forecast period. However, the lard & tallow segment is projected
to exhibit a significant growth rate during the review period.
Based on application, the global cooking oils & fats
market has been classified as bakery & confectionery, convenience foods,
sauces, spreads & dressings, and others. The bakery & confectionery
segment has accounted for the largest market share of 35.44% in
2018, and it is projected to be valued at USD 25,278.66 Million by the
end of 2024 and register a CAGR of 0.94% during the
forecast period. However, the sauces, spreads & dressings segment is
projected to witness the highest growth rate of 2.26% during
the forecast period.
Regional Analysis
Geographically, the global cooking oils & fats market has
been segmented into North America, Europe, Asia-Pacific, and the rest of the
world (RoW). As per the MRFR analysis, Asia-Pacific dominated the market,
accounting for the largest share in 2018. Moreover, Asia-Pacific is expected to
register the highest CAGR of 2.54% during the assessment period. The European
market accounted for the second-largest market share in 2018. The market in
Europe is estimated to reach USD 17,556.22 Million by the end of 2024, with
Germany being the leading domestic market.
Key Findings of the Study:
The global cooking oils & fats market is projected to reach
USD 74,865.82 Million by 2024 at a 77% CAGR during the review period of 2019 to
2024.
Asia-Pacific accounted for the largest market share in 2018,
with China being the major contributor to the growth of the regional market.
The plant segment is projected to dominate the global cooking
oils & fats market, by source, during the forecast
The bakery & confectionery segment accounted for the
global cooking oils & fats market, by application in 2018 and, it is
estimated to retain its dominance throughout the forecast period.
Complete Report Details @ https://www.marketresearchfuture.com/reports/cooking-oils-fats-market-8076
About Market Research Future
At Market Research Future (MRFR), we enable our customers to
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MRFR team have supreme objective to provide the optimum
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and market players for global, regional, and country level market segments,
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In order to stay updated with technology and work process of
the industry, MRFR often plans & conducts meet with the industry experts
and industrial visits for its research analyst members.
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