Asia Pacific Cooking Oils And Fats Market

Asia Pacific Cooking Oils And Fats Market Size (2024 to 2032)

The Asia Pacific Cooking Oils and Fats market is predicted to grow at a CAGR of 5.55% from 2024 to 2032 and the market size is expected to be valued at USD 25.80 billion by 2032 from USD 16.74 billion in 2024.

MARKET OVERVIEW

Cooking oils and fats are made up of saturated, poly-saturated, and mono-saturated fatty acids. Saturated fats increase the body's cholesterol levels, while mono-saturated and poly-saturated fats tend to lower cholesterol levels in the body. Inordinate consumption of fats and oils poses a significant threat to the market. Processed foods like French Fries, Pizzas, and Doughnuts have a large number of trans-fats that is not healthy if consumed regularly. The consumption of trans-fats increases the LDL in the body. Additionally, consumption of trans fats raises the incidences of numerous heart diseases, type 2 diabetes and cancer. Furthermore, the high price of raw materials makes the entry of a new player in the market extremely difficult.

This research report on the Asia Pacific Cooking Oils And Fats market has been segmented and sub-segmented into the following categories.

Asia Pacific Cooking Oils And Fats Market By Form

• liquid

• solid

The liquid segment dominated the market in 2018, and is projected to be the fastest-growing segment as oils are largely consumed for cooking purposes and in biodiesel, where liquid form is preferred over solid. The crystalline form of the fat has a considerable effect on the melting point and the performance of the fat in different applications in which it is used.

Asia Pacific Cooking Oils And Fats Market By Type

• oil

• fat

Oil is further sub-segmented into palm oil, soybean oil, sunflower oil, rapeseed oil, olive oil, and other oils. Fats are further sub-segmented into Butter & Margarine, Lard, Tallow, and others. By vegetable oil type, the market is projected to be dominated by the palm oil category, followed by soybean oil and rapeseed oil. Palm oil has emerged as the most commonly utilized vegetable oil for edible purposes, especially in China, which is one of the biggest consumers of vegetable oils.  The demand for palm oil is rising, owing to rise in industrial applications like biodiesel and oleo chemicals. By fat type, the butter & margarine segment commanded the largest market share in 2015. The demand for butter is greater in contrast to that for margarine, owing to the growth in preference for natural products like butter. Factors like changes in customer habits and the price differences between butter & margarine also fuel the demand for butter.

Asia Pacific Cooking Oils And Fats Market By Source

• vegetable

• animal

Asia Pacific Cooking Oils And Fats Market By Application

• Bakery & Confectionary

• Processed

Processed Food is further sub-segmented into Snacks & Savoury, R.T.E Foods/Convenience Foods, Sauces, Spreads, and Dressings, and others (Incl. Meat Products).

Asia Pacific Cooking Oils And Fats Market By Country

• India

• China

• Korea

• Japan and others

The Asia-Pacific region commanded the largest share, in terms of both value and volume, in the market, in 2018. An increase in population and growth in consumption of fats & oils, especially in Asian countries such as China and India, are projected to augment the growth of the fats & oils market in the Asia-Pacific region. Growth in population and development of food and non-food industries in the Asia-Pacific region demand more fats & oils than other end-use industries in the world.

KEY MARKET PLAYERS

• Unilever PLC
• Cargill, Inc.
• International Foodstuff Company Limited
• United Plantations Berhad
• Wilmar International Limited
• Archer Daniels Midland Company
• Associated British Foods plc
• Bunge Limited, CHS Inc.
• ConAgra Foods Inc