April 14, 2020
According to the research report titled ‘Vegetable Fats Market Size By Type, By Product, By Application, Industrial, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, vegetable fats market is set to record a remunerative growth rate through the year 2025.
Increasing popularity of vegetable fats across soap manufacturing, biofuel feedstock, perfume formulations and culinary industry is driving the market growth. Strict government regulations regarding disposal and recycling of petrochemicals based lubricants in biofuel industry has bolstered the demand for vegetable fats.
Growing processed food industry in emerging countries along with shifting preference for products with low-cholesterol, low-calorie and low fat are also stimulating the vegetable fats industry outlook. However, scarcity of arable land for oil crops and oilseeds and price volatility are acting as market restraints.
As per type, unsaturated vegetable fats market segment held 60% share in 2018 and is expected to register continuous growth in the ensuing years. Poly and monounsaturated fats can minimize the risk of heart disease. Rising health awareness has increased the consumption of unsaturated fats, in turn boosting the segmental share.
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By product terrain, the report states that palm oil segment is presumed to expand significantly during the estimated timeframe. Palm oil is extensively used as an alternative to trans-fat. Low production cost and rising utilization of palm oil for cooking applications are fueling the segmental growth.
Alternatively, soybean oil segment is poised to witness lucrative growth in the forthcoming years, owing to upsurge in demand for product in healthcare sector since it is a rich source of omega-3 fatty acids, mineral and vitamins. Growing preference for soybean oil due to its low calorie-minimal saturated fat and zero trans-fat content is positively influencing the segmental growth.
Based on the application spectrum, vegetable fats market share from food segment is predicted to exceed 270 kilo tons by the year 2025 as the product helps to improve the texture and taste of baked & fried products, snacks & savory, and spreads & dressings.
As per regional analysis, Asia-Pacific vegetable fats industry is poised to acquire admirable returns in the ensuing years. Rapid expansion of convenience food sector, evolving lifestyle and growing biofuel industry are promoting the business scenario in Asia-Pacific.
Ajinomoto Co., Wilmar International Ltd., CHS Inc., United Plantation Berhad, J-Oil Mills Inc., Carapelli Firenze S.p.A., Richardson Oilseed Ltd., IFFCO, Unilever Plc., Conagra Foods and Archer Daniels Midland Co. are some stakeholders operating in global vegetable fats industry.
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