Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- According to the report, the global cooking oils and fats market is expected to rise from a value of US$59,782.3 million in 2014 to US$65,270.6 million by 2021, registering a 1.2% CAGR over the period. In terms of volume, the cooking oils and fats market is projected to grow from 21,204.5 kg/million in 2014 to 22,333.1 kg/million by 2021 at a 0.7% CAGR from 2015 to 2021.
The global cooking oils and fats market is primarily driven by the growing use of high quality edible oil. The rise in consumption of processed and ready-to-eat foods has also fueled the demand for cooking oils and fats. Emerging markets such as Argentina, India, and Indonesia have reported rising demand for cooking oils and fats and this is projected to boost the global market over the next few years. However, high cost of raw materials and adverse health effects resulting from excess consumption of oils and fats is likely to impede the growth of the cooking oils and fats market.
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By product type, the cooking oils and fats market is segmented into spreadable oils and fats, vegetable and seed oil, margarine, butter, cooking fats, and olive oil. Vegetable and seed oil dominates the overall cooking oils and fats market and analysts indicate that this segment is likely to retain its lead throughout the forecast period.
On the basis of geography, the global cooking oils and fats market is divided into North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific, followed by Europe, formed the largest market for cooking oils and fats and accounted for over 50% of the global market in 2014. The Rest of the World region, followed by Asia Pacific, is the most rapidly developing regional segment of the cooking oils and fats market. The RoW region is likely to register a 1.6% CAGR from 2015 to 2021.
The most prominent players functioning in the global cooking oils and fats market include Cargill Incorporated, Unilever plc, ConAgra Foods Inc., Wilmar International Ltd., CHS Inc., Associated British Food plc, Bunge Ltd., Ajinomoto Co. Inc., United Plantations Berhad, and Archer Daniels Midland Co. These players are profiled in the cooking oils and fats market report on the basis of attributes such as company and financial overview, product portfolio, recent developments, key business strategies, strengths, weaknesses, opportunities, and threats.
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Global Cooking Oils and Fats Market, by Product Type
- Vegetable and Seed Oil
- Spreadable Oils and Fats
- Olive Oil
Global Cooking Oils and Fats Market, by Geography
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
Rest of the World (RoW)
- South Africa
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