Deep Dive on the Oils Market
1- Definition and key figures
“Fats and oils are being used extensively in food applications such as confectioners in the production of candies, and for polishing of confectionery products. “ Mordor Intelligence
“Based on product type, the cooking oils and fats market is segmented into vegetable & seed oils, spreadable oils & fats, butter, margarine, olive oil, and other oils & fats.” Allied Market Research
In 2019, worldwide Oils & Fats Market sales amounted to US$ 176 billion. The worldwide revenue will increase at an Average Growth Rate of 3.7% by 2025.
In 2021, the vegetable oil production worldwide amounted to 210 million metric tons.
The biggest segments in terms of production are : palm oil (around 75 million), soybean oil (around 60 million) and rapeseed oil (around 27 million).
In 2021, Indonesia and Malaysia were the leading countries for the palm oil’s exports worldwide. Argentina and Brazil were the leading countries for the soybean oil’s exports worldwide. Ukraine and Russia were the leading countries for rapeseed oil’s exports worldwide.
The olive oil is mainly consumed in Europe with 1,595 metric tons in 2021.
2- Trends
Because of the rise of awareness about heart disease, cholesterol, diabet, obesity linked to edible oils and saturated fats, consumers are claiming for healthier alternatives in vegetable or nut oils. This has led the industry to invest in R&D and innovate to lower “Trans Fatty Acids” and “Saturated Fatty Acids” contained in oils and fats.
So, there is a rise of consumption of healthy edible oils and nutritional products, such as extra virgin olive oil, and nut butter and pastes, for boosting the immune system.
Source : Allied Market Research
3- Benefits & cooking
Fats like butter and margarine had been avoided in many diets because of their negative impacts on health. But for several years, nutritionists and scientists have started to claim their benefits on health when moderately consumed.
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Butter for instance is consumed to improve immunity, regulate hormones, protect vision, boost metabolism, increase brain function, reduce chances of heart disease and blood pressure, protect against cancer, act as a powerful antioxidant, and protect against gastrointestinal issues and conditions. (Research and Market)
The vegetable and plant oils market is growing and driven by the rise of consumption in the kitchen. Many oils are consumed for their health benefits :
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Coconut oil is a rich source of a fatty acid, Lauric acid, that lowers cholesterol and kills bacteria.
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Olive oil raises good cholesterol and lowers the amount of oxidized LDl cholesterol.
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Avocado oil contains an antioxidant that improves eye health.
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Palm oil contains a carotenoid that can be converted to vitamin A, which is used to promote eye, bone, and immune health.
