Fats And Oils Market Share, Analysis, Revenue, Growth and Future Opportunities 2034
Fats and Oils Market Growth, Size, Trends Analysis - By Type, By Application, By Source, By Sales Channel - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Apr-2025 | Report ID: FMCG2577 | Pages: 1 - 284 | Formats*: |
| Category : Consumer & Retail | |||
Fats And Oils Market Introduction and Overview
According to SPER Market Research, the Global Fats and Oils Market is estimated to reach USD 396.95 billion by 2034 with a CAGR of 3.86%.
The report includes an in-depth analysis of the Global Fats and Oils Market, including market size and trends, Interface mix, Applications, and supplier analysis.
Fats and oils are essential components in food, pharmaceuticals, cosmetics, and industrial applications, serving as key sources of energy and functional ingredients. They are derived from animal, plant, and synthetic sources, with vegetable oils like soybean, palm, and sunflower oil dominating the market. The demand for fats and oils is growing due to the expanding food processing industry, rising health-conscious consumers seeking healthier oil alternatives, and increasing applications in biodiesel production. However, the industry faces challenges such as fluctuating raw material prices, environmental concerns over palm oil cultivation, and regulatory restrictions on trans fats. Additionally, the shift toward sustainable and plant-based alternatives is pushing manufacturers to innovate and reformulate products to meet evolving consumer preferences.
By Type Insights: Based on Type the market is divided into two segments: Oil Type and Fat Type. The oil type accounted for the largest portion, owing to its widespread use in both food and non-food applications. This market is dominated by edible oils such palm, soybean, sunflower, and olive oil because of their extensive use in baking, cooking, and food processing. Furthermore, the market is expanding due to rising knowledge of the health advantages of particular oils, like avocado and olive oils. Additionally, the market for fats and oils is growing due to the extensive need for non-edible oils in sectors including biofuels, personal care, and cosmetics.
By Application Insights: Based on Application the market is divided into four segments: Food Applications and Industrial Applications. The biggest market share was accounted for by food applications. Their crucial function in food processing, cooking, and preparation is the reason for their domination. In the kitchen, fats and oils are essential for frying, baking, sautéing, and as salad dressings to improve the taste, consistency, and nutritional content of food. The market expansion is also being driven by the processed food industry's increasing reliance on oils such palm, soybean, sunflower, and canola oil for the manufacturing of snacks, baked goods, confections, and ready-to-eat (RTE) meals.
By Source Insights: Based on Source the market is divided into two segments: Vegetable and Animal. The market share of vegetable oil was the highest among fats and oils due to its wide availability and variety of uses. These oils, which come from a variety of plant sources such soybeans, palm fruit, sunflowers, and canola, are prized for their adaptability in industrial, cosmetic, and culinary settings. The demand for fats and oils in this industry is also being increased by the widespread use of vegetable oils in biofuels, which act as sustainable and biodegradable substitutes for petroleum-based products.
By Sales Channel Insights: Based on Sales Channel the market is divided into four segments: Direct Sales, Supermarkets and Hypermarkets, Retail Stores, Online Stores and Others. Direct sales dominated the market. Selling goods straight from producers to customers or companies without the use of middlemen is known as a direct sales channel. Large amounts of fats and oils are delivered to food makers, restaurants, and industrial customers in bulk and wholesale transactions. Additionally, direct sales provide manufacturers more authority over distribution, price, and customer relations, enabling them to customize their products to meet the demands of particular customers and bargain for advantageous conditions.
By Regional Insights: The Asia Pacific region's large population, fast urbanization, and substantial economic expansion are expected to fuel a boom in the fats and oils market. Furthermore, the market is expanding due to the region's diverse culinary habits, which depend on cooking oils, and the rising need for a wide range of oils, including palm, soybean, and coconut oil. Furthermore, the industry is expanding due to rising disposable income, shifting eating patterns, and rising consumer health consciousness, which encourages the use of better oil options like avocado and olive oils.
Market Competitive Landscape
The market for Fats and Oils is very competitive. To create oil products that are healthier and more sustainable, they are spending money on research and development (R&D). These efforts include improving the nutritional characteristics of their products and creating trans-fat-free and non-genetically modified organism (GMO) choices. Some of the prominent players in Global Fats and Oils Market are 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.
Recent Developments:
- In March 2024, Archer-Daniels-Midland Company (ADM) has announced that it will provide fully verified, segregated, traceable soybean meal and oil to suit the demands of European clients when EU deforestation restrictions go into force on December 30. In keeping with this, the business developed a completely traceable North American soybean program, enrolling nearly 5,300 farmers across more than 4.6 million acres in 15 states for the 2024 season. The program uses cutting-edge technology, such as the FBN Gradable digital platform and ADM's origination and transportation capabilities, to verify, trace, and separate participating beans from farmers to their final destination.
- In October 2023, Bunge Limited signed a formal asset purchase agreement with Fuji Oil New Orleans, LLC (Fuji Oil) to acquire its newly constructed port-based refinery at International-Matex Tank Terminals' (IMTT) Avondale Terminal in Louisiana. Bunge will be able to increase its existing client base thanks to the state-of-the-art facility, which can refine multiple oils.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Type, By Application, By Source, By Sales Channel. |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa. |
| 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, Wilmar International Limited. |
Key Topics Covered in the Report
- Global Fats and Oils Market Size (FY’2021-FY’2034)
- Overview of Global Fats and Oils Market
- Segmentation of Global Fats and Oils Market By Type (Oil Type and Fat Type)
- Segmentation of Global Fats and Oils Market By Application (Food Applications and Industrial Applications)
- Segmentation of Global Fats and Oils Market By Source (Vegetable and Animal)
- Segmentation of Global Fats and Oils Market By Sales Channel (Direct Sales, Supermarkets and Hypermarkets, Retail Stores, Online Stores and Others)
- Statistical Snap of Global Fats and Oils Market
- Expansion Analysis of Global Fats and Oils Market
- Problems and Obstacles in Global Fats and Oils Market
- Competitive Landscape in the Global Fats and Oils Market
- Details on Current Investment in Global Fats and Oils Market
- Competitive Analysis of Global Fats and Oils Market
- Prominent Players in the Global Fats and Oils Market
- SWOT Analysis of Global Fats and Oils Market
- Global Fats and Oils Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Fats and Oils Market Manufacturing Base Distribution, Sales Area, Interface Type6.2. Mergers & Acquisitions, Partnerships, Interface Launch, and Collaboration in Global Fats and Oils Market
7. Global Fats and Oils Market, By Type 2021-2034 (USD Million)
7.1. Oil Type7.2. Fat Type
8. Global Fats and Oils Market, By Application 2021-2034 (USD Million)
8.1. Food Applications8.2. Industrial Applications
9. Global Fats and Oils Market, By Source 2021-2034 (USD Million)
9.1. Vegetable9.2. Animal
10. Global Fats and Oils Market, By Sales Channel 2021-2034 (USD Million)
10.1. Direct Sales10.2. Supermarkets and Hypermarkets10.3. Retail Stores10.4. Online Stores10.5. Others
11. Global Fats and Oils Market, 2021-2034 (USD Million)
11.1. Global Fats and Oils Market Size and Market Share
12. Global Fats and Oils Market, By Region, 2021-2034 (USD Million)
12.1. Asia-Pacific
12.1.1. Australia12.1.2. China12.1.3. India12.1.4. Japan12.1.5. South Korea12.1.6. Rest of Asia-Pacific
12.2. Europe
12.2.1. France12.2.2. Germany12.2.3. Italy12.2.4. Spain12.2.5. United Kingdom12.2.6. Rest of Europe
12.3. Middle East and Africa
12.3.1. Kingdom of Saudi Arabia12.3.2. United Arab Emirates12.3.3. Qatar12.3.4. South Africa12.3.5. Egypt12.3.6. Morocco12.3.7. Nigeria12.3.8. Rest of Middle-East and Africa
12.4. North America
12.4.1. Canada12.4.2. Mexico12.4.3. United States
12.5. Latin America
12.5.1. Argentina12.5.2. Brazil12.5.3. Rest of Latin America
13. Company Profile
13.1. Ajinomoto Co. Inc.
13.1.1. Company details13.1.2. Financial outlook13.1.3. Interface summary13.1.4. Recent developments
13.2. Archer-Daniels-Midland Company
13.2.1. Company details13.2.2. Financial outlook13.2.3. Interface summary13.2.4. Recent developments
13.3. Associated British Foods plc
13.3.1. Company details13.3.2. Financial outlook13.3.3. Interface summary13.3.4. Recent developments
13.4. Bunge Limited
13.4.1. Company details13.4.2. Financial outlook13.4.3. Interface summary13.4.4. Recent developments
13.5. Cargill Incorporated
13.5.1. Company details13.5.2. Financial outlook13.5.3. Interface summary13.5.4. Recent developments
13.6. Conagra Brands Inc.
13.6.1. Company details13.6.2. Financial outlook13.6.3. Interface summary13.6.4. Recent developments
13.7. Fuji Oil Holding Inc.
13.7.1. Company details13.7.2. Financial outlook13.7.3. Interface summary13.7.4. Recent developments
13.8. Unilever
13.8.1. Company details13.8.2. Financial outlook13.8.3. Interface summary13.8.4. Recent developments
13.9. United Plantations Berhad
13.9.1. Company details13.9.2. Financial outlook13.9.3. Interface summary13.9.4. Recent developments
13.10. Wilmar International Limited
13.10.1. Company details13.10.2. Financial outlook13.10.3. Interface summary13.10.4. Recent developments
14. Conclusion
15. List of Abbreviations
16. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Fats And Oils Market is projected to reach USD 396.95 billion by 2034, growing at a CAGR of 3.86% during the forecast period.
Fats And Oils Market grew in Market size from 2025. The Market is expected to reach USD 396.95 billion by 2034, at a CAGR of 3.86% during the forecast period.
Fats And Oils Market CAGR of 3.86% during the forecast period.
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Fats And Oils Market size is USD 396.95 billion from 2025 to 2034.
Fats And Oils Market is covered By Product, By Function, By Application, By End-User.
The North America is anticipated to have the highest Market share in the Fats And Oils Market.
The key players in the Market include 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, Wilmar International Limited.
Fats and oils are essential dietary components derived from plant, animal, and synthetic sources, widely used in food, pharmaceuticals, cosmetics, and industrial applications. They play a crucial role in providing energy, enhancing texture and flavor, and serving as emulsifiers and preservatives. Common edible oils include palm, soybean, sunflower, and olive oil, while animal fats like butter and lard remain significant in various cuisines.
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