PUBLISHER: MarketLine | PRODUCT CODE: 1956082
PUBLISHER: MarketLine | PRODUCT CODE: 1956082
Global Oils & Fats industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume , and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
The oils & fats market includes retail sales of edible oils and solid fats. The oils segment covers cooking sprays, corn oil, olive oil, sunflower oil, vegetable oil, etc. The solid fats segment includes compound cooking fats (CCF), ghee, lard, shortening, and other solid fats.
By distribution channel, the market is segmented into food & drinks specialists, supermarkets, independent stores, hypermarkets, and others. The scope of others includes e-commerce, convenience stores, discounters, etc.
All market data and forecasts are based on nominal prices and all currency conversions used in the creation of this report have been calculated using annual average exchange rates. The USD values may show a declining trend for few countries such as Argentina, Turkey, Nigeria, Egypt, and Russia. This is primarily because of the impact of exchange rates considered.
The global oils & fats market recorded revenues of $157,763.6 million in 2024, representing a compound annual growth rate (CAGR) of 5.0% between 2019-24.
Market consumption volume increased with a CAGR of 3.4% between 2019-24, reaching a total of 51,311.4 million kilograms in 2024.
The healthy growth of the global oils & fats market during 2019-24 can be attributed to higher household spending on food, which increases demand for packaged foods and ready-to-cook meals, which use oils & fats as key ingredients.