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Press Release:

Global Fats and Oils Market to Grow at 4.1% During 2022-2027, Bolstered by Growing Consumption of Processed Foods

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Fats and Oils Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global fats and oils market size reached US$ 214.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 273.2 Billion by 2027, exhibiting a growth rate (CAGR) of 4.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Fats and oil are esters of glycerol with three fatty acids, also known as triacylglycerols, and found naturally in both plants and animals. They form a vital part of a healthy diet as they are a rich source of essential fatty acids (EFAs) that provide energy, insulate organs and transport A, D, E and K vitamins through the blood. Consequently, they are employed in the food and beverages (F&B) industry extensively to enhance the flavor and texture of various food items. Besides this, they are also utilized in the production of animal feed, pharmaceuticals, biodiesel and oleochemicals.

Fats and Oils Market Trends:

The increasing consumption of processed food products represents one of the key factors impelling the global fats and oils market growth. Apart from this, favorable government policies to support the utilization of biodiesel and minimize the environmental impact of fossil fuels is positively influencing the market growth. Furthermore, the growing preference for oleochemicals over petrochemicals in the production of soaps, paints, detergents, varnishes and lubricants is also contributing to the market growth. At present, due to the spread of the coronavirus disease (COVID-19), there is a rise in the consumption of healthy edible oils and nutritional products, such as extra virgin olive oil, and nut butter and pastes, for boosting the immune system. Due to lockdowns imposed by governments of numerous countries and temporary shutdowns of various manufacturing units, the production and distribution of these products were also impacted, however, the market is anticipated to recover in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global fats and oils market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, application, source and sales channel.

Breakup by Type:

  • Oil Type
    • Palm Oil
    • Soybean Oil
    • Rapeseed Oil
    • Sunflower Oil
    • Olive Oil
    • Others
  • Fat Type
    • Butter
    • Shortenings and Margarine
    • Lard
    • Tallow
    • Others
       

Breakup by Application:

  • Food Applications
  • Industrial Applications
     

Breakup by Source:

  • Vegetable
  • Animal
     

Breakup by Sales Channel:

  • Direct Sales
  • Supermarkets and Hypermarkets
  • Retail Stores
  • Online Stores
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Ajinomoto Co. Inc., Archer-Daniels-Midland Company, Associated British Foods plc, Bunge Limited, Cargill Incorporated, Conagra Brands Inc., Fuji Oil Holding Inc., Unilever, United Plantations Berhad and Wilmar International Limited.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Application, Source, Sales Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, China, Japan, India, South Korea, Australia, Indonesia, Germany, France, United Kingdom, Italy, Spain, Russia, Brazil, Mexico
Companies Covered Ajinomoto Co. Inc., Archer-Daniels-Midland Company, Associated British Foods plc, Bunge Limited, Cargill Incorporated, Conagra Brands Inc., Fuji Oil Holding Inc., Unilever, United Plantations Berhad and Wilmar International Limited
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology 
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction
    4.1    Overview
    4.2    Key Industry Trends
5   Global Fats and Oils Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Type
    6.1    Oil Type
        6.1.1 Market Trends
        6.1.2 Market Breakup by Type
            6.1.2.1 Palm Oil
               6.1.2.1.1 Market Trends
               6.1.2.1.2 Market Forecast
            6.1.2.2 Soybean Oil
               6.1.2.2.1 Market Trends
               6.1.2.2.2 Market Forecast
            6.1.2.3 Rapeseed Oil
               6.1.2.3.1 Market Trends
               6.1.2.3.2 Market Forecast
            6.1.2.4 Sunflower Oil
               6.1.2.4.1 Market Trends
               6.1.2.4.2 Market Forecast
            6.1.2.5 Olive Oil
               6.1.2.5.1 Market Trends
               6.1.2.5.2 Market Forecast
            6.1.2.6 Others
               6.1.2.6.1 Market Trends
               6.1.2.6.2 Market Forecast
        6.1.3 Market Forecast
    6.2    Fat Type
        6.2.1 Market Trends
        6.2.2 Market Breakup by Type
            6.2.2.1 Butter
               6.2.2.1.1 Market Trends
               6.2.2.1.2 Market Forecast
            6.2.2.2 Shortenings and Margarine
               6.2.2.2.1 Market Trends
               6.2.2.2.2 Market Forecast
            6.2.2.3 Lard
               6.2.2.3.1 Market Trends
               6.2.2.3.2 Market Forecast
            6.2.2.4 Tallow
               6.2.2.4.1 Market Trends
               6.2.2.4.2 Market Forecast
            6.2.2.5 Others 
               6.2.2.5.1 Market Trends
               6.2.2.5.2 Market Forecast
        6.2.3 Market Forecast
7   Market Breakup by Application
    7.1    Food Applications
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Industrial Applications
        7.2.1 Market Trends
        7.2.2 Market Forecast
8   Market Breakup by Source
    8.1    Vegetable
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Animal
        8.2.1 Market Trends
        8.2.2 Market Forecast
9   Market Breakup by Sales Channel
    9.1    Direct Sales
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Supermarkets and Hypermarkets
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Retail Stores
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Online Stores
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Others
        9.5.1 Market Trends
        9.5.2 Market Forecast
10  Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11  SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12  Value Chain Analysis
13  Porters Five Forces Analysis
    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14  Price Analysis
15  Competitive Landscape
    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Ajinomoto Co. Inc.
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio 
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    Archer-Daniels-Midland Company
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
           15.3.2.3 Financials
           15.3.2.4 SWOT Analysis
        15.3.3    Associated British Foods Plc
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio 
           15.3.3.3 Financials
           15.3.3.4 SWOT Analysis
        15.3.4    Bunge Limited
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio 
        15.3.5    Cargill Incorporated
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio 
           15.3.5.3 SWOT Analysis
        15.3.6    Conagra Brands Inc.
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio 
           15.3.6.3 Financials 
           15.3.6.4 SWOT Analysis
        15.3.7    Fuji Oil Holding Inc.
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
           15.3.7.3 Financials 
        15.3.8    Unilever
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio 
           15.3.8.3 Financials 
        15.3.9    United Plantations Berhad
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
           15.3.9.3 Financials 
        15.3.10    Wilmar International Limited
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio 
           15.3.10.3 Financials 
           15.3.10.4 SWOT Analysis

List of Figures

Figure 1: Global: Fats and Oils Market: Major Drivers and Challenges
Figure 2: Global: Fats and Oils Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Fats and Oils Market: Breakup by Type (in %), 2021
Figure 4: Global: Fats and Oils Market: Breakup by Application (in %), 2021
Figure 5: Global: Fats and Oils Market: Breakup by Source (in %), 2021
Figure 6: Global: Fats and Oils Market: Breakup by Sales Channel (in %), 2021
Figure 7: Global: Fats and Oils Market: Breakup by Region (in %), 2021
Figure 8: Global: Fats and Oils Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 9: Global: Fats and Oils (Oil Type) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Fats and Oils (Oil Type) Market Forecast: Sales Value (in Million US$), 2022-2027 
Figure 11: Global: Fats and Oils (Palm Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Fats and Oils (Palm Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Fats and Oils (Soybean Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Fats and Oils (Soybean Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Fats and Oils (Rapeseed Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Fats and Oils (Rapeseed Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Fats and Oils (Sunflower Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Fats and Oils (Sunflower Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Fats and Oils (Olive Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Fats and Oils (Olive Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Fats and Oils (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Fats and Oils (Others) Market Forecast: Sales Value (in Million US$), 2022-2027 
Figure 23: Global: Fats and Oils (Fat Type) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Fats and Oils (Fat Type) Market Forecast: Sales Value (in Million US$), 2022-2027 
Figure 25: Global: Fats and Oils (Butter) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Fats and Oils (Butter) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Fats and Oils (Shortenings and Margarine) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Fats and Oils (Shortenings and Margarine) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Fats and Oils (Lard) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Fats and Oils (Lard) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Fats and Oils (Tallow) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Fats and Oils (Tallow) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Fats and Oils (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Fats and Oils (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Global: Fats and Oils (Food Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Global: Fats and Oils (Food Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Global: Fats and Oils (Industrial Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Global: Fats and Oils (Industrial Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Global: Fats and Oils (Vegetable) Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Global: Fats and Oils (Vegetable) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Global: Fats and Oils (Animal) Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Global: Fats and Oils (Animal) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Global: Fats and Oils (Direct Sales) Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Global: Fats and Oils (Direct Sales) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Global: Fats and Oils (Supermarkets and Hypermarkets) Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Global: Fats and Oils (Supermarkets and Hypermarkets) Market Forecast: Sales Value (in Million US$), 2022-2027 
Figure 47: Global: Fats and Oils (Retail Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Global: Fats and Oils (Retail Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Global: Fats and Oils (Online Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Global: Fats and Oils (Online Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Global: Fats and Oils (Other Sales Channels) Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Global: Fats and Oils (Other Sales Channels) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: North America: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: North America: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: United States: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: United States: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Canada: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Canada: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Asia Pacific: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Asia Pacific: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: China: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: China: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Japan: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Japan: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: India: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: India: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: South Korea: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: South Korea: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Australia: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Australia: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Indonesia: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Indonesia: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Others: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Others: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Europe: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Europe: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Germany: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Germany: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: France: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: France: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: United Kingdom: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 82: United Kingdom: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 83: Italy: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 84: Italy: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 85: Spain: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 86: Spain: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 87: Russia: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 88: Russia: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 89: Others: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 90: Others: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 91: Latin America: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 92: Latin America: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 93: Brazil: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 94: Brazil: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 95: Mexico: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 96: Mexico: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 97: Others: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 98: Others: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 99: Middle East and Africa: Fats and Oils Market: Sales Value (in Million US$), 2016 & 2021
Figure 100: Middle East and Africa: Fats and Oils Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 101: Global: Fats and Oils Industry: SWOT Analysis
Figure 102: Global: Fats and Oils Industry: Value Chain Analysis
Figure 103: Global: Fats and Oils Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Fats and Oils Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Fats and Oils Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Fats and Oils Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: Global: Fats and Oils Market Forecast: Breakup by Source (in Million US$), 2022-2027
Table 5: Global: Fats and Oils Market Forecast: Breakup by Sales Channel (in Million US$), 2022-2027
Table 6: Global: Fats and Oils Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Fats and Oils Market: Competitive Structure
Table 8: Global: Fats and Oils Market: Key Players


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Key Questions Answered in This Report

The global fats and oils market was valued at US$ 214.0 Billion in 2021.

We expect the global fats and oils market to exhibit a CAGR of 4.1% during 2022-2027.

The rising utilization of fats and oils to enhance the flavor and texture of various food items, as well as providing essential fatty acids to the body, is primarily driving the global fats and oils market.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination towards online retail platforms for the purchase of healthy edible oils and nutritional products, such as extra virgin olive oil and nut butter, for boosting the immune system.

Based on the type, the global fats and oils market can be categorized into oil type and fat type. Currently, oil type accounts for the majority of the global market share.

Based on the application, the global fats and oils market has been segregated into food applications and industrial applications, where food applications hold the largest market share.

Based on the source, the global fats and oils market can be bifurcated into vegetable and animal. Currently, vegetable exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.

Some of the major players in the global fats and oils market include Ajinomoto Co. Inc., Archer-Daniels-Midland Company, Associated British Foods plc, Bunge Limited, Cargill Incorporated, Conagra Brands Inc., Fuji Oil Holding Inc., Unilever, United Plantations Berhad, and Wilmar International Limited.

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