Published on : Mar 06, 2020
Increased significance of cooking oil and fats is likely to come up as important factor for the expansion of the global cooking oils and fats market in years to come. Of all edible oils, vegetable oil has made garnered substantial significance as an important ingredient that diminishes the risk of chronic diseases like breast cancer, cardiovascular disorders. Such benefits are likely to work in favor of the global cooking oils and fats market over the timeframe of assessment.
In addition to that, increased popularity of omega-3 fatty acid as a nutritional component in the food industry due to its outstanding anti-inflammatory features is likely to offer lucrative growth opportunities for the global cooking oils and fats market in the years to come. In addition, various health benefits associated with oil extracted from flax seeds, canola, and soybean is likely to boost the market over the tenure of assessment.
Archer Daniels Midland Company, Wilmar International Limited, International Foodstuff Company Holdings Limited, Cargill Incorporated, Unilever PLC, and Wilmar Internationals are some of the well-known players in the global cooking oils and fats market.
Asia Pacific is expected to Come Up as a Rapidly Growing Region
The global cooking oils and fats market has been split into the key regions of North America, Middle East and Africa, Europe, Latin America, and Asia Pacific. Region-based divisions offer an all-inclusive view of the market at regional level.
Considering geographical segments, Asia Pacific cooking oils and fats market is estimated to lead the market. The region is likely to hold lion’s share of the global cooking oils and fats market in the years to come. The region is estimated to expand at a sound growth rate over the period of assessment mainly due to increased disposable income. In addition, the growing propensity to spend on premium products such as high quality cooking oils and fats are likely to offer increased scope of expansion for the market in the forthcoming years.
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In countries like Bangladesh, India, and China rapid urbanization owing to massive migration of people from villages to cities is likely to open up new vistas of growth for the global cooking oils and fats market over the tenure of assessment. Increased popularity of cooking oils and fats with low-calorie content among the middle-income sector in developing parts of the world is expected to bolster its demand in the years to come.
Increased Urge for Healthy Living to Spur Demand for the Market
The global cooking oils and fats market is expected to be driven by food industry across the globe. Increased demand for cooking oils and fats are likely to be encouraged by the improvement in the standard of living people. In addition, growing inclination toward spending on premium products such as cooking olive oil are likely to expand the business of the global cooking oils and fats market in years to come.
Increased concern over the growing prevalence of high-risk chronic diseases like type 2 diabetes, coronary heart disease, and cerebral attack are all caused by increased intake of trans fat. Increased risk of such ailments is estimated to work in favor of the global cooking oils and fats market over the assessment timeframe.
In addition to being healthy, these oils also find use as an excellent flavoring agent due to its connection with excellent aroma of groundnut or peanut oil.
Increased importance of the cooking oils and fats is owing to the presence of several nutritional components such as magnesium, phytosterols, selenium, and vitamin E. Presence of such nutrients is likely to bolster its demand in the years to come. Sunflower oil has recently garnered interest of consumers due to presence of substantial amount of zinc in it.