Global Edible Oils & Fats Market to Post 4.56% CAGR through 2023, Forecasts MRFR in Its In-Demand Report Available at MarketPublishers.com24 Aug 2017 • by Natalie Aster
LONDON – Spurred by stable demand for edible oils and fats across the globe as one of the key ingredient for culinary purpose, the world’s edible oils and fats market is set to exceed 298.5 thousand kilo tonnes in 2023, registering growth at a 4.56% CAGR in the years ahead.
At present, APAC grabs the biggest chunk of the overall market; it is attributed to region’s high resources of crops and livestock. Europe ranks the second. However, Europe is expected to grow at the higher pace over 2017-2023, propelled by the constantly rising demand for animal fats coupled with improved harvesting techniques.
In the current year, the major share (around 45%) of the global edible oils and fats belongs to palm oil and soybean oil. Through 2023, the highest growth is expected to be recorded in the corn oil sector, majorly due to escalating demand for this type of oil for industrial purposes.
Expanding adoption of vegan lifestyle and strong demand for naturally sourced products will likely drive the increase of the plant-sourced edible oils and fats share on the global scale. In the current year, plant sources oils together hold a share of over 80% of the overall edible oils and fats market.
In-demand report “Global Edible Oils and Fats Research Report- Forecast to 2023” elaborated by Market Research Future (MRFR) gives access to updated, reliable data on the market landscape and dynamics at different geographical levels. Moreover, the report touches upon the historical development patterns of the market, describes the current scenario, scrutinises the main market growth influencing forces and also traces light on top trends. Besides, emerging opportunities and major challenges are highlighted in the report along with valuable data on the key competitive pressures. The study includes comprehensive profiles of the top market players. Additionally, future forecasts through 2023 are at hand.
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