Vegetable Fats and Oil Industry Procurement Intelligence Day One Analysis Report, 2020 – 2027
Procurement Outlook Vegetable oils and fats are extracted from a wide range of plant sources. Whilst many seeds and nuts are a source of oils, approximately 30 vegetable oils and fats are commercially available. Vegetable oils are usually edible oils, while non-edible oils derived mainly from petroleum are termed mineral oils. Vegetable fats are mixtures of triglycerides. Soybean oil, rapeseed oil, olive oil, palm oil, rice bran oil, and cocoa butter are some of the major fats used globally. In common usage, vegetable oil refers exclusively to vegetable fats which are liquid at room temperature. Fats can be segmented into three major types: saturated fats, unsaturated fats, and Trans fat. Demand Outlook The global vegetable fats and the oil market was valued at ~USD 235 billion in 2020 and it is expected to grow at a CAGR of 4% from 2020 to 2027 due to rising awareness to use healthier alternatives among consumers and favorable policies implemented by many regions to support the ...