Other Oils and Fats Market Size and Export, Import Analysis 2022-2028
- by marketherald
The Other Oils and Fats Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.
The global other oils and fats market size is expected to reach USD 46.13 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 4.8% from 2021 to 2028. The growing health consciousness among consumers and rising inclination towards consuming essential nutrients are accelerating the market growth. Furthermore, animal fats offer various health benefits as they are rich in fatty acids and vitamins, which is expected to propel the industry demand over the forecast period.
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The increasing demand for multi-functional ingredients for making delicious food is projected to accelerate the market growth over the forecast period. Moreover, the growing consumption of bakery and confectionery products and processed food products is facilitating the growth of the market. However, excessive consumption of fats and oils may affect human health and lead to high blood pressure, heart attack, and stroke, which may hinder the market growth.
The COVID-19 pandemic had suspended the transportation services of other oils and fats for a short duration in many countries. Closure of restaurants and commercial activities and various restrictions on the movement of people have disrupted or stopped the supply chain of essential products by measures arising from COVID-19 restrictions. The increasing demand for animal fat after the COVID-19 pandemic has created opportunities for the market players. Thus, the market is expected to witness healthy growth in the upcoming years.
The lard product segment is expected to exhibit the fastest CAGR of 5.1% from 2021 to 2028. The increasing consumption of lard by developed economies for frying applications and as an alternative to shortening is propelling the growth of this segment over the last few years. Moreover, the rising popularity of lard fats in central European, Chinese, Mexican, and British cuisines, such as lardy cake and Christmas puddings, is accelerating the market growth.
List of Key Players of Other Oils and Fats Market
- Saria Se & Co. KG
- Baker Commodities Inc.
- Darling Ingredients Inc.
- Ten Kate Holding B.V.
- Cargill, Incorporated
- York Foods Pty Ltd.
- Aceities Borges Pont S.A.
- Avena Nordic Grain Oy
Other Oils and Fats Market Report Highlights
- Europe held the largest share of more than 35.0% in 2020 owing to the changing eating behavior of consumers
- The lard product segment is expected to exhibit the fastest CAGR of 5.1% from 2021 to 2028 due to the rising demand for cooking and frying applications
- The offline distribution channel segment held the largest share of more than 80.0% in 2020 due to a well-established distribution network across the globe
- Asia Pacific is expected to register the fastest CAGR of 5.3% from 2021 to 2028 owing to the changing lifestyles and rising urbanization
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Key questions answered in the report include:
- What will be the market size in 2028?
- What are the growth opportunities of Other Oils and Fats market in upcoming period?
- What strategies are the market players adopting to ensure sustainability?
- Which region or country driving the demand of Other Oils and Fats market?
- How and where market players should focus to gain maximum ROI?
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The Other Oils and Fats Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive…
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