The Asia-Pacific oil and fats market is expected to register a CAGR of 5.3%, during the forecast period (2018–2023), and projected to reach USD 1.7 billion by 2023.
The growing affluence of China's middle-class is allowing consumers to purchase high-priced packaged oils and fats. The ban on loose oils and fats in some Chinese cities has led to growth in the demand for packaged oils.
Vegetable and seed oils are perceived to be healthier and preferred by consumers. Olive oil, in particular, has had the highest growth rate due to its perceived health benefits. Retail sales of olive oil has increased tremendously over the years. The growing consumer preference for health products is expected to boost the market of olive oils.
The primary driver of fats and oils market in the Asia-Pacific region is its use in cooking and food processing. On the production front, Southeast Asian countries, such as Indonesia and Malaysia, lead with an 85% share of the global production. Moreover, rising demand for alternative biodiesel fuel in the transportation sector and increasing overall population worldwide are witnessing the growth opportunity for fats & oils market.
However, increasing health concern, such as heart related disease and obesity owing to excessive consumption of fats & oils rising quality standards, stringent government regulations for food safety and increasing environmental concern may hamper the growth of fats & oils market in near future.
The rising income, purchasing power, rapid growth of the middle-class population, and consumer demand for processed products provide promising prospects for growth and diversification in the region's specialty fats & oils sector.
Asia-Pacific’s oil and fats market has been segmented by source type, application, and geography. Asia-Pacific occupies the largest share in the oil and fats sector in terms of production, as well as consumption. The highest production is that of palm oil and a majority of it is produced in Indonesia and Malaysia.
Asia-Pacific has emerged as a dominant market for fish oil consumption, owing to the huge concentration of the aquaculture industry in China, India, Vietnam, and Indonesia. Moreover, the rising health concerns among consumers have led to the usage of fish oil as nutritional supplement in developed countries, such as Japan and Australia.
March 2018 - Fuji Vegetable Oil planned to invest $70 million to launch a new processing facility adjacent to the former Avondale Shipyard in Jefferson Parish, LA. The specialty oils producer will create 39 new direct jobs for the project, with an average annual salary of $77,000, plus benefits. Louisiana Economic Development (LED) estimates the project will result in another 48 new indirect jobs, for a total of 87 new jobs in Southeast Louisiana
Key Players of Asia-Pacific oil and fats market include - Adani Group, Astra Agro Lestari, Bakels Group, Cargill Inc., ConAgra Foods Limited, Fuji oil, GEF India, International Foodstuff Company Holdings Limited (IFFCO), Oleo-fats Inc., Peerless foods, PT Astra Agro Lestari Terbuka, Ruchi soya, SSD oil Mills, United Plantations Berhad and Wilmar Group, among others.
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- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.2 Research Design
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modeling
2.4.4 Expert Validation
3. Market Overview
3.1 Market Dynamics
22.214.171.124 Increase in Consumption of Processed foods
126.96.36.199 Shift towards Usage of Unsaturated Fats in Cooking
188.8.131.52 Demand for Biodiesel
184.108.40.206 Health related issues
220.127.116.11 Adulteration of Fats & Oil Products
18.104.22.168 Emerging Applications of Fats and Oils as Substitutes of Trans-fats
22.214.171.124 Biotechnological Intervention
3.1.4 Porter's Five Forces Analysis
126.96.36.199 Bargaining Power of Suppliers
188.8.131.52 Bargaining Power of Buyers
184.108.40.206 Threat of New Entrants
220.127.116.11 Threat of Substitute Products and Services
18.104.22.168 Degree of Competition
4. Market Segmentation
4.1 By Type
4.1.1 Chemical Structure
22.214.171.124 Saturated fats
126.96.36.199 Unsaturated fats
4.1.2 Dietary Requirement
188.8.131.52 Essential fats
184.108.40.206 Non-essential fats
4.2 By Source
4.2.1 Vegetable oil
220.127.116.11 Palm oil
18.104.22.168 Soybean oil
22.214.171.124 Sunflower oil
126.96.36.199 Cotton oil
4.2.2 Oilseed oil
188.8.131.52 Linseed oil
184.108.40.206 Sesame oil
4.3 By Application
4.3.1 Animal oil
220.127.116.11 Bakery and Confectionary
18.104.22.168 Processed foods
22.214.171.124 Lubricants and greases
4.4 By Geography
126.96.36.199 Rest of Asia-Pacific
5. Competitive Landscape
5.1 Strategy adopted by Key players
5.2 Most Active Companies in the past Five years
5.3 Market Share Analysis
6. Company Profiles
6.1 Adani Group
6.2 Astra Agro Lestari
6.3 Bakels Group
6.4 Cargill Inc.
6.5 ConAgra Foods Limited
6.6 Fuji oil
6.7 GEF India
6.8 International Foodstuff Company Holdings Limited (IFFCO)
6.9 Oleo-fats Inc.
6.10 Peerless foods
6.11 PT Astra Agro Lestari Terbuka
6.12 Ruchi Soya Co.
6.13 SSD oil Mills
6.14 United Plantations Berhad
6.15 Wilmar Group