Edible Oils & Fats Market Size - By Type (Vegetable Oils, Animal Fats, Specialty Oils), Application (Cooking and Frying Oils, Salad Oils and Dressings, Baking Fats and Shortenings, Industrial Uses), Source, Distribution Channels & Global Forecast, 2023 -

Edible Oils & Fats Market Size - By Type (Vegetable Oils, Animal Fats, Specialty Oils), Application (Cooking and Frying Oils, Salad Oils and Dressings, Baking Fats and Shortenings, Industrial Uses), Source, Distribution Channels & Global Forecast, 2023 - 2032

Global Edible Oils & Fats Market will witness 6.8% CAGR between 2023 and 2032, bolstered by increased government investments in production. With a focus on food security and economic growth, governments globally invest in modernizing production techniques, supporting farmers, and enhancing infrastructure.

For instance, in March 2023, Godrej Agrovet Ltd announced that it aims to allocate Rs 100 crore towards establishing an edible oil refining plant in Andhra Pradesh. The company revealed its intent through a Memorandum of Understanding (MoU) signed with the state government during the Andhra Pradesh Global Investors Summit (APGIS) 2023. Under this agreement, Godrej Agrovet's oil palm division plans to invest approximately Rs 100 crore in constructing a manufacturing facility focused on edible oil refining and solvent extraction.

These investments aim to boost domestic oilseed cultivation, refine processing methods, and ensure quality standards. As governments prioritize self-sufficiency and healthier oil options, these investments play a pivotal role in meeting burgeoning consumer demands while fostering sustainable edible oils & fats market growth.

The overall Edible Oils & Fats Market is classified based on type, application, and region.

Animal fats segment will undergo significant development from 2023 to 2032. Despite evolving health trends favoring plant-based oils, animal fats maintain significance in food processing, flavor enhancement, and manufacturing. Their unique properties cater to specific cuisines and industrial processes, ensuring continued demand in niche markets. While plant-based oils dominate, the enduring demand for animal fats signifies their irreplaceable role in culinary traditions and industrial applications within the diverse edible oils & fats market outlook.

Salad oils and dressing industry will register a noteworthy CAGR from 2023 to 2032. These oils, like olive, avocado, and specialty blends, dominate the market due to health-conscious choices. Their versatility in salad dressings, marinades, and dips aligns with consumer desires for healthier, flavorful options. As health trends prioritize natural and nutrient-rich food choices, the demand for these oils continues to surge, shaping culinary experiences and driving innovation within the market.

Europe edible oils & fats market will showcase a commendable CAGR from 2023 to 2032. With a penchant for quality and variety, European consumers favor oils like olive, sunflower, and rapeseed, valuing their health benefits and culinary versatility. Embracing healthier lifestyles, the market leans towards organic and cold-pressed varieties. As cooking habits evolve and preferences shift towards natural, nutritious options, the demand for high-quality edible oils and fats in Europe continues to soar, shaping the market landscape.

For instance, in October 2023, ÄIO's, an Estonian company specializing in alternative oils, revealed plans to produce edible oil derived from sawdust. Employing a fermentation process, ÄIO transforms low-value industry organics into sustainable and healthy oils and fats. They blend the red bug with sawdust or similar upcycled organic materials in sizable stainless steel tanks, activating yeast with gentle heat to initiate fermentation. Upon completion, they extract and treat the lipid-rich biomass to craft food-grade oil and fat alternatives, showcasing their commitment to innovative and sustainable solutions.