Fats that are originated from plant-based sources rather than animal-based sources are known to as vegetable fats. Vegetable fats are available in both saturated as well as unsaturated forms. They are often solid at room temperature. They are beneficial for the human body, as they exhibit many health benefits. They help in improving the health of the heart and improve the level of cholesterol. Doctors worldwide recommend the consumption of vegetable fats as an essential ingredient of a heart-healthy diet.
Vegetable oil is extracted from vegetable seeds or vegetable leaves by different processes such as grinding and rendering. A few examples of food items that are rich in vegetable fats are olives, nuts & seeds, avocados, peanut butter, and vegetable shortening. Certain oils are rich in vegetable fats, which include sunflower oil, coconut oil, palm oil, olive oil, and safflower oil.
As per the ongoing trends in the global vegetable fat market, projections can be made that the market will grow extensively during the forecast period.
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Market scope and structure analysis
|Market size available for years||2020–2027|
|Base year considered||2019|
|Forecast unit||Value ($USD)|
|Segments covered||Type, Product, Source, Application, and Region|
|Regions covered||North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy, Spain,and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and the Rest of Asia-Pacific), and LAMEA (Middle East, Brazil, and the Rest of LAMEA)|
|Companies covered||Cargill Incorporated, ConAgra Foods Inc., Carapelli Firenze S.P.A, The J.M. Smucker Company, Wilmar International Ltd., Richardson Oilseed Ltd, Unilever Group, Archer Daniels Midland Company, J-Oil Mills Inc., United Plantation Berhad, Ajinomoto Co. Inc., and IFFCO|
COVID-19 scenario analysis
- The COVID-19 outbreak is likely to have a positive impact on the vegetable fat market.
- This market will witness an upward surge as consumers are inclining toward healthy, nutrition-rich, and organic products, during the pandemic situation.
- Furthermore, a decline in the meat, poultry, and seafood product is shifting consumers from animal fat consumption to vegetable fat consumption.
- However, meeting consumer demand has become a major concern for manufacturers, due to the implementation of lockdown.
- Disruption in the supply chain, logistics slowdowns, and halt on import–export activities during the COVID-19 pandemic are a few challenges hampering the production and supply.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Vegetable fats are rich in omega-3 and omega-6 fatty acids, which help in building nerve covering and cell membranes, thus driving the growth of the global vegetable fats market. Along with this, rapid expansion of the agribusiness, shift in consumer eating habits toward a healthy diet, increase in product usage in numerous food items, and increase in spending of consumers propel the market growth the global vegetable fats market. Furthermore, surge in awareness related to the disadvantages of animal fat fuels the demand for vegetable fats, globally.
The key players operating in this market are implementing marketing strategies, including new product launches, investments in research & development, geographical expansions, and mergers & acquisitions, which are creating lucrative opportunities for the vegetable fats market.
The global vegetable fats market trends are as follows:
Strengthening market position of key players operating in the vegetable fats market
Key players operating in the vegetable fats market are focusing on strategies such as product innovation & developments, collaborations, partnerships, acquisitions & mergers, and joint ventures to enhance their market position globally. For instance, in January 2020, Archer Daniels Midland, to strengthen its position in the market, acquired Yerba latina Phyto actives, which is a natural plant-based extracts and ingredients manufacturing company. Another such example is Wilmar International Ltd., which in November 2017, got into an agreement with Cargill to purchase edible oil facilities in Kuantan to expand its business operations across that region.
Palm oil segment dominates the vegetable fats market
The palm oil segment leads the vegetable fats market, as it is an economic and versatile product, and is useful in the preparation of both food and non-food products. Increase in use of palm oil in numerous applications such as cereals, cosmetics, sweets, and margarine positively impact the market growth. Along with this, palm oil vegetable fats have several health benefits such as they reduce oxidative stress, slow the progression of cardiac diseases, improve skin & hair, and enhance vitamin A level in the body, thereby boosting the market growth.
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The unsaturated segment led the vegetable fats market
The unsaturated segment holds the largest share in the global vegetable fats market. This is attributed to rise in consumer awareness coupled with increase in demand for fruits, seeds, and nuts containing a high quantity of monounsaturated & polyunsaturated fats. Moreover, unsaturated fats help in lowering triglyceride levels and bad cholesterol, which significantly contributes toward its increased adoption, thereby augmenting the global market growth.
Key segments covered
Key benefits of the report
- This study presents the analytical depiction of the global vegetable fats industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global vegetable fats market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global vegetable fats market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global vegetable fats market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global vegetable fats market research report:
- Which are the leading players active in the global vegetable fats market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
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