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Edible Oils & Fats Market Trends

Report ID: GMI6877
Published Date: Oct 2023
Report Format: PDF

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Edible Oils & Fats Market Trends

The growing demand from consumers for healthier and more sustainable solutions is a prominent trend in the edible oils & fats industry. This has resulted in an increase in the production and use of plant-based oils such as avocado oil, olive oil, and coconut oil, as well as an increased interest in specialty oils with alleged health advantages. Furthermore, there is a growing focus on sustainable sourcing and manufacturing processes, with a move toward ecologically friendly and ethically obtained oils being pushed by consumer awareness and legislative actions aimed at decreasing the industry's environmental effect.

Authors: Kiran Pulidindi, Manish Mohanan

Frequently Asked Questions (FAQ) :

The market size of edible oils and fats reached USD 506.1 billion in 2023 and is set to surpass USD 916.2 billion by 2032, led by the growing awareness and emphasis on health-conscious consumer choices.

The natural source segment held over USD 391.8 billion in revenue in 2022, owing to the increasing consumer awareness of health and wellness.

Asia Pacific market was worth over USD 139.9 billion in 2022, driven by the ongoing urbanization, population expansion, changing dietary choices, and expanding food sector.

Some of the top companies in the industry include Cargill Inc., Archer Daniels Midland Company (ADM), Wilmar International Limited, Bunge Limited, IOI Corporation Berhad, ACH Food Companies, Inc., Conagra Brands, Inc., Fuji Oil Co., Ltd., and the Nisshin Oillio Group, Ltd.