In terms of value, the worldwide fats and oils market is expected to grow at a CAGR of over 3% over the forecast period (2017-2026), according to Fact.MR. Fats and oils are expected to sell more than 100 million tonnes globally by the end of 2026. Fats and oil suppliers have been attracted by changing consumer buying patterns, leading them to change their product portfolios to reflect prospective demand for variety and extra advantages.
According to a recent study published by Fact.MR, the global market for fats and oils is expected to grow moderately in volume over the forecast period of 2017 to 2026. Fats and oils are expected to generate around US$ 110,000 million in revenue by the end of 2026.
Fats and Oils Market Taxonomy
Fats and Oils Market: Key Takeaways
- In terms of value, fats and oils sales in Asia-Pacific excluding Japan (APEJ) are predicted to remain higher than all other regional segments combined. By the end of 2026, APEJ’s fats and oils sales will account for more than half of the market’s revenue.
- From 2017 to 2026, Europe will account for a sizable revenue portion of the market. The fats and oils market in North America will continue to be more profitable than that in Latin America in terms of value, but Latin America will grow at a quicker rate than North America through 2026.
- In terms of price, edible vegetable oils will remain the most profitable product on the market, followed by animal fat. Palm oil sales, on the other hand, will grow at a quicker rate in the market through 2026.
- Despite the fact that industrial end-users of fats and oils will continue to account for the majority of market revenue, sales from residential end-users will grow at a faster rate through 2026.
- End-users are expected to continue to choose animal-sourced fats and oils, with revenues expected to be somewhat higher than those from vegetable-sourced fats and oils.
- Liquid fats and oils will be in high demand, with revenues expected to reach about US$ 60,000 Mn by the end of 2026.
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