The global market for vegetable fats is primarily driven by the growing demand for high quality oils and fats as well as the changing consumption habits of consumers, finds Transparency Market Research (TMR) in a recent study. The report is titled, “Vegetable Fats Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024.” The key finding of the report is that the awareness among end consumers regarding the benefits of vegetable fats over animal fats is on the rise.
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Moreover, internet retailing is gaining momentum, especially in emerging economies such as China, India, and Brazil. This factor is further fueling the market. The report evaluates the impact of each of these factors, and projects a healthy growth rate in the global market for vegetable fats during the forecast period of 2016 to 2024.
The report notes that vegetable fats are gaining popularity because they are healthy, provided they are available as unsaturated fats. The consumption of foods made with vegetable fats keeps the heart healthy as it improves cholesterol levels. Some of the foods that are rich in vegetable fats are olives, avocados, peanut butter, nuts, and seeds. Oils rich in vegetable fats include olive oils, sunflower oil, and safflower oil.
To offer a clear understanding of the global market for vegetable fats, this TMR report divides it into important segments based on type, application, source, and geography. By type, the market can been segmented into monounsaturated fat, polyunsaturated fats, and trans fats. Since polyunsaturated fats are essential for the human body and yet cannot be self-synthesized, the report notes that the market for this segment has always been most prominent and will continue to dominate the demand during the forecast period.
By application, the market can been segmented into bakery, savory and snacks, confectioneries, spreads, dairy, and animal feed. The report notes that trans fat is primarily used in snacks for its preservative benefits. However, rising awareness among end users about the property of trans fat in increasing harmful low density lipoprotein (LDL) cholesterol in the bloodstream has been highlighted as a restraining factor for this segment as well as the overall vegetable fats market. Sources of vegetable fats include seed oils and leaves. Majority of vegetable fats are derived from seeds via processes of rendering, grinding, and others.
To present a visual outlook of the market valuation and demand, this report divides the global market for vegetable fats into North America, Latin America, Western and Eastern Europe, Asia Pacific, and the Middle East and Africa. The report notes that Asia Pacific, with a vast population, is the leading market for vegetable fats. China, followed by India, is the leading country as far as the consumption of packaged food is concerned.
Some of the key players identified across the value chain of the global vegetable fats market are Cargill, Inc., The J.M. Smucker Company, Wilmar International Ltd., Unilever Group, Archer Daniels Midland Company, ConAgra Foods, Inc., J- Oil Mills Inc., Nestle SA, and AAK AB.
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