Vegetable Fats Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, Italy, Russia, Poland, China, India, Japan, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, Qatar, Kuwait, UAE), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI2161
Vegetable Fats Market size will witness a substantial growth, the vegetables fat is considered a fat, which is originated from plant based sources rather than animal based sources. Vegetable fats are used in bakery application, ice cream manufacturing, meat products, dairy products, frying fats and deep, confectionery and infant nutrition. These fats are considered healthy as they are available as unsaturated fat. The food which contains vegetable oil is good for heart and cholesterol. Rise in health concern is one of the major driver contributing the growth in the industry. The initiative taken from government to enhance electronic health care adoption is another factor for the rise in the market.
Vegetable fats is healthy for preventing different diseases and stroke, it helps in reduction of blood pressure, all the benefits vegetable fat drives the market. The demand for rich and high-quality oil have increased which has changed the consumption habits of the consumers which has helped the vegetable fats market to grow. The consumers are shifting from animal oil to vegetable oil, as it provides less fat in comparison of animal oil. However, the vegetable fats market is subsequently facing challenges due to lack of skilled professionals, high cost of analytics solutions and operational gap between the providers and payers.
Vegetable fats market is bifurcated in monounsaturated fat and polyunsaturated fats. Polyunsaturated fat is rich with omega 3 and omega 6 fatty acids. Polyunsaturated fat more dominant than monounsaturated fat because of its rich quality and it helps in growth and repair and makes other fatty acids. The global vegetable fats market includes bakery, savory, dairy, snacks. Whereas monounsaturated fat includes olive oil, peanut oil, and few others. Majority of the vegetable fat is derived from seeds, by different processes.
North America will be dominating the global market. It is the fastest growing economy in vegetable fats market. The factors including federal health care mandates to provide quality health, the government initiative to maintain Electronic Health Record, population health management, personalized medicine is rising the North American market.
Asia Pacific has abundance of rich vegetable oil which makes it the leader of the vegetable fats market. Grain mill products, meat products, fats and oils are the rich vegetable oils which are found in Asia Pacific. The rising demand for processed foods, ready to drink beverages is escalating the Asia Pacific Market. According to the forecast Asia Pacific will become the second largest market for vegetable fats industry.
Europe is responsible for a significant part of demand as Europe is a region which imports major vegetable oils from all over the globe. Europe is also a significant gateway to global distribution network. These factors are driving the growth of European region in vegetable fats market.
High price of vegetable fat attracts a good deal of media attention. The variation in the pricing of vegetable fats market depends on the mismatch of the demand and supply. The growing demand from a rising population with increasing wealth, the rise in the cost of agricultural production, storage and transportation has impacted the price of the Market.
The supply chain of vegetable fats market originates from the agricultural land, followed by transportation of the raw material to the place of its refining, then the innovation in the product is added by the vegetable fat manufacturing company, after all the processes and refining the vegetable fats is used in different food items for different purposes and then it is made available to the end consumers with the help of supermarkets, wholesalers, retailers etc. In this market, packaging plays a major role. The companies differentiate their products by its design and packaging which attracts the consumers.
The key players in this market include AAK Kamani Pvt. Ltd., IFFCO, Archer Daniels Midland Company, Unilever PLC, Conagra Foods, United Plantation Berhad, Ajinomoto.co, Wilmar International Ltd, Bunge Ltd, Arla Foods and Gujarat Cooperative Milk Marketing Federation. These are the companies with maximum market share. Key players in the vegetable fats Market focuses on the quality and varieties in the product.
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