Global Fats & Oil Industry Market Demand & Forecast Analysis, 2018-2034

Description

The global fats and oils industry continues to play a vital role in food, pharmaceuticals, cosmetics, and industrial sectors. As global populations continues to grow and dietary patterns shift, the demand for edible oils and fats has witnessed strong growth, particularly in developing regions. The period from 2018 to 2023 witnessed steady market evolution, with moderate disruptions caused by COVID-19. However, the industry quickly rebounded by 2022, and is projected to grow consistently through the forecast period of 2025-2034.

Fats and oils are broadly classified into vegetable oils, animal fats, and industrial oils. Among these, vegetable oils dominate global consumption, largely driven by their widespread use in cooking, processed foods, cosmetics, and biofuels. Popular oils such as palm, soybean, sunflower, and canola continue to lead the segment. Animal fats also hold a significant share, particularly in traditional and industrial uses, while industrial oils are gaining momentum due to their use in biodiesel and lubricants.

In terms of market by applications, the food & beverage industry dominates fats and oils globally. These ingredients are central to both staple and processed foods, particularly in Asia-Pacific and North America. Meanwhile, pharmaceutical and cosmetic applications are growing rapidly, supported by rising health awareness and personal care trends. Emerging markets are seeing increased consumption of fats and oils in soaps, creams, and medicinal formulations.

Regionally, Asia-Pacific leads the global fats and oils market, driven by population growth, expanding food production, and rising income levels in countries such as China, India, and Indonesia. North America and Western Europe follow, with high per capita consumption and established processing industries. Latin America and the Middle East & Africa are emerging as growth hotspots, with increasing investments in processing infrastructure and growing demand for processed and packaged food products.

Despite strong demand, the industry faces a number of strategic challenges, including concerns over sustainability, price volatility, and regulatory pressures regarding trans fats and saturated fats. Environmental issues associated with palm oil production and growing consumer preference for clean-label and organic alternatives are reshaping the market landscape. In response, companies are investing in sustainable sourcing, supply chain transparency, and healthier oil formulations.

Major players such as Cargill, Wilmar International, Archer Daniels Midland (ADM), Bunge, and International Foodstuff Company (IFFCO) dominate the global market.

In the forecast period the fats and oils industry is expected to benefit from advances in food technology, growth in plant-based diets, and increasing industrial applications. While regulatory and environmental hurdles remain, innovation and strategic investments will be key to long-term resilience and market leadership.

1. Introduction

Scope
Market Coverage
- Types
- Applications
- Regions
- Countries
Years Considered
- Historical - 2018 - 2023
- Base - 2024
- Forecast Period - 2025 - 2034
Research Methodology
- Approach
- Research Methodology
- Prismane Consulting Market Models
- Assumptions & Limitations
- Abbreviations & Definitions
- Conversion Factors
- Data Sources

2. Market Synopsis

Market Evolution
Demand Overview
Industry Structure
Strategic Issues
End-use Trends
Growth Forecast

3. Economic & Energy Outlook

GDP and Demographics
Monetary & Fiscal Policies
Crude Oil Production and prices
Natural Gas
Electricity Prices

4. End-use Sector Performance

Food & Beverages
Industrial
Others

5. Introduction to Fats & Oil Industry and Market Overview

Product Description
Grades & Properties
Raw Material
Manufacturing Process
Environmental Issues
Value Chain
Applications

6. Market Dynamics and Industry Trends

Market Dynamics
- Drivers
- Restraints
- Opportunities
- Challenges

7. Global Fats & Oil Industry Demand Analysis, By Types, By Applications (Volume, Value) (2018-2034)

Strategic Issues and COVID-19 Impact
Demand Analysis and Forecast (2018- 2034)
- Demand
- Demand Growth Rate (%)
- Driving Force Analysis
- Global Fats & Oil Industry Market, By Types
Palm Oils
Industrial Oils
Animal Fats
Marine Oils
- Global Fats & Oil Industry Market, By Applications
Food & Beverages
Industrial
Others

8. Demand Analysis and Market Review, By Region, By Country (Volume, Value), (2018- 2034)

Strategic Issues and COVID-19 Impact
Demand Analysis and Forecast (2018 - 2034)
Demand
Demand Growth Rate (%)
Fats & Oil Industry Market, By Types
Fats & Oil Industry Market, By Applications

Note: Demand Analysis has been provided for all major Regions / Countries as mentioned below. The demand (consumption) split by types and applications have been provided for each of the countries / regions in Volume (Kilo tons) and Value (USD Million).

North America
USA
Canada
Mexico
Western Europe
Germany
France
Italy
United Kingdom
Spain
Rest of Western Europe
Central & Eastern Europe
Russia
Poland
Rest of Central & Eastern Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Central & South America
Middle East & Africa

Note: CAGR will be calculated for all types and applications to arrive at the regional / global demand growth for the forecast period (2025 - 2034)

9. Pricing Analysis

10. Key Strategic Issues and Business Opportunity Assessment

Market Attractiveness Assessment
Prospective & Target Market Study

11. Strategic Recommendation & Suggestions

12. Company Analysis

Fats & Oil Industry Manufacturers Profiles/ Company Analysis
- Basic Details
- Headquarter, Key Markets
- Ownership
- Company Financial
- Manufacturing Bases
- Global Turnover
- Total Employee
- Product Portfolio / Services / Solutions
- Key Business Strategies adopted and Prismane Consulting Overview
- Recent Developments
- Companies Covered -
Cargill
International Foodstuff Company Limited
Wilmar International Limited
Archer Daniels Midland Company
Bunge Limited
Other Manufacturers

Note: This section includes company information, company financials, manufacturing bases and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.

13. Appendices

Demand - Regions
Demand - Countries