Edible oils are finding extensive applications as ingredient and has evolved as an essential in food items preparation. Driven by the health savvy population, edible oils offers a multitude of benefits for health. With the rising prevalence of heart diseases and obesity issues, the demand edible oils has been gaining impetus as people are massively adopting a healthy lifestyle. The demand for oils including omega 3 fatty acids is exponentially increasing by virtue of its capability to minimize risk of chronic ailments. These insights are gleaned from a new report, titled “Global Market Study on Edible Oils: Retail Sector to be the Largest End User during 2017 – 2024,” recently added to the holistic repository of Market Research Reports Search Engine (MRRSE).
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Hence, manufacturers in the edible oils market are also emphasizing extensively on research and development activities. They are focusing on coming up with products which can effectively cut the risk of various diseases & also help fighting issues associated with obesity. A major trend observed in the edible oils market is the increasing consumption of monounsaturated and polyunsaturated edible oils including peanut oil, olive oil, and walnut oil. Majority of the realms have fixed various standards to ensure for validating the authenticity of food & labeling. The major objective of these standards is to avoid adulteration. Various incidents of oil adulteration have already occurred in the past. Hence, governments across various countries have brought into picture uncompromising regulations for production & labeling of edible oils.
Edible Oils Market- Retail Sector to Stand Out as the Largest End User
When in comparison with the food processor and food service industry, retail sector poised to emerge as the largest end user of edible oils. In the light of the dynamic consumer preferences & choices as well as updating the standards of living, consumers are preferably choosing healthier edible oil options. Moreover, the edible oil industry is also witnessing a colossal expansion, in terms of consumption. Some of the highly consumed types include canola oil, mustard oil, olive oil, and soybean oil. Oil is used a chief ingredient for cooking in the countries of Asia Pacific region, especially in India and China, which is fostering the demand for edible oils. Along with production, companies are also emphasizing on different packaging approaches of edible oils to adhere to the idea of ‘zero wastage’.
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Manufacturers are going an extra mile by employing advanced techniques in a bid to provide. Advanced techniques for processing are also being employed by manufacturers to offer edible oil at affordable prices. Market players operating in the edible oils market are relying on strategic mergers and acquisitions to penetrate in the global market & having an eye on areas where the demand is relatively high. Meanwhile, booming popularity for new food items & packaged food products is also triggering the demand for edible oils in the Asia Pacific region. Some of the major companies operating in the edible oils market include Ruchi Soya Industries Ltd, Archer Daniels Midland Company, The Adani Wilmar Ltd., Beidahuang Group, Associated British Foods plc., Bunge Limited, Fuji Vegetable Oil, Inc., Borges Mediterranean Group, Adams Group, & Cargill Incorporated.
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