Fats and Oils Market

Fats & Oils Market Size by Type (Fats (Butter, Lard, Tallow, and Specialty Fats) and Oils (Soybean Oil, Vegetable Oil, Palm Oil, Rapeseed Oil, Coconut Oil, Cotton Seed Oil, Olive Oil, Sunflower Seed Oil, and Others)), Applications (Industrial, Food, and Animal Feed), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2030

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12639
  • Published Date: Dec, 2021
  • Pages: 110
  • Category: Food & Beverages
  • Format: PDF
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Global Fats & Oils market is expected to reach USD 320.4 billion by 2030, at a CAGR of4% from 2021 to 2030. Many reasons are contributing to the market's significant growth potential, including greater consumer awareness of healthier options such as vegetable oils, rising health concerns about traditional fats, and higher consumption of baked and processed foods. Furthermore, government policies that encourage the use of biodiesel and reduce the environmental impact of fossil fuels have a favorable impact on market growth. Growing interest in using oleochemicals instead of petrochemicals to make soaps, paints, detergents, varnishes, and lubricants play a role in market expansion as well.

Market Overview:

Fats are organic molecules that are soluble in organic solvents but mostly insoluble in water. At room temperature, they are solid. At room temperature, there are two types of fats that are solid. Saturated and trans fats are the two types of fats. Solid fat is another name for saturated fat. When compared to animal fat or red meat, fish and poultry contain less saturated fat. This fat has the potential to raise the cholesterol levels. Saturated fats can also be found in tropical oils such cocoa butter, coconut oil, and palm oil. It's usually found in considerable amounts in non-dairy products and snacks. Cakes, butter, and cookies are examples of foods high in saturated fats. Fats are made up of the same basic elements as carbohydrates: carbon, hydrogen, and oxygen. However, the smallest units of fats (called fat molecules) are larger than carbohydrates molecules, and the proportions of carbon, hydrogen, and oxygen in fats differ from those in carbohydrates. Oils are fats that are liquid at normal temperature.

This group includes unsaturated fats. Unsaturated fat-rich foods can aid to lower cholesterol levels. Unsaturated fats are divided into two categories. Polyunsaturated fats and monounsaturated fats are two types of unsaturated fats. Nuts, vegetable oils, and avocado all contain monounsaturated fat. Monounsaturated fats are found in foods that help manage cholesterol levels by keeping good HDL cholesterol high and bad LDL cholesterol low. Oils including sunflower, corn, and soybean contain polyunsaturated fat. These fats are abundant in seafood.

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Market Dynamics:

Drivers:
  • Increased global consumption of vegetable oils is fueled by rising food demand

To generate uniformity in high-quality crude, edible oilseeds such as sunflower oil, palm oil, canola oil, soybean oil among others, are purified using various processes like degumming, neutralization, bleaching, and deodorization. Minor components are chemically or physically removed during the purification process since they are considered contaminants. Refined fats are a term used to describe high-quality edible fats. Monounsaturated fats are abundant in refined fats. High-fat fats are produced utilising cutting-edge technology and are regarded a nutrient-rich food. As a result, their consumption increases year after year because of increased use and population.

Restraints:
  • Increase in health problems

The global fats and oils market is expected to be hampered by the rise in health problems caused by excessive intake of fats and oils. Regulations governing food safety and labelling issues are expected to impede industry expansion even more. High raw material prices are projected to have a negative impact on the market's growth prospects.

Opportunities:
  • Supportive policies for the use of vegetable oil in a variety of countries

A significant number of initiatives have been developed by the governments of numerous countries to encourage the production and use of vegetable oils, resulting in market growth. The Renewable Energy Directive has had a major impact on the European Union's use of vegetable oil for biofuel (RED). This directive, which was created in 2009, calls for renewable energy to account for 10% of total energy consumption in road and rail transportation by 2020. This aim must be implemented by EU member states (countries), as well as their national regulations and incentives, such as blending mandates.Palm oil accounts for roughly 20% of biodiesel (fatty acid methyl ester) and renewable diesel (hydro-treated vegetable oil) production in the European Union. Rapeseed, which is also used in cooking oils, and animal fats are two other important feedstocks for producing diesel alternatives. Furthermore, because of the RFS and the biodiesel and renewable diesel tax credits, the volume of soybean oil utilised in biofuel production in the United States has been continuously increasing, and this trend is expected to continue soon.

  • Increased health awareness

Because the Millennium age and young customers tend to avoid highly processed goods and foods, demand for unrefined natural oils is increasing. As people become more aware of their health, they are more willing to adapt and seek out animal and vegetable fats, such as butter, eggs, olive oil, and avocado fat. Butter-based fats are recovering their popularity due to their superior performance in supporting clean and straightforward ingredient labelling. This is because for Gen Z and Millennial consumers, clean, simple labelling are the new standard.A surge in research and development to develop innovative uses such as trans-fat substitutes and biodiesel production promises plenty of potential for local and oil market participants.

Challenges:
  • High intensity competition

High-intensity competition is an issue for the industry, and it poses a challenge to the fats and oil market.

Segmentation Analysis:

The global fats & oils market has been segmented based on type, application, and regions.

  • The type segment is divided into fats and oils. The fats segment includes lard, butter, tallow, and specialty fats. The butter sub-segment is expected to account for the largest market share in the fats and oils market over the forecast period. Butter has been shown to improve immunity, regulate hormones, protect vision, boost metabolism, increase brain function, lower the risk of heart disease and blood pressure, protect against cancer, act as a powerful antioxidant, and protect against gastrointestinal issues and conditions, among other things. Furthermore, butter is made up of around 80% fat and 15% water, whereas margarine is a common butter substitute created primarily from animal fats. The oils segment is subdivided into soybean oil, palm oil, vegetable oil, rapeseed oil, coconut oil, cotton seed oil, olive oil, sunflower seed oil, and others. Because of the easy availability, health benefits, cost-effectiveness that have pushed the market for fats and oils, palm oil is expected to be the largest segment throughout the forecast period. The application segment is divided into industrial, food, and animal feed. The food segment is projected to observe the fastest CAGR of around 4.7% in the fats and oils market over the forecast period. Fats and oils are used in a variety of items in the food industry, including chocolates and confectioneries, bakery products, processed foods, and dairy products. They impart desirable characteristics to a variety of dishes and contribute to the tenderness of the shortened cake. Fats also help to build texture in cakes by aerating the dough. As a result, they are expected to have a larger market share than industrial applications.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia Pacific region emerged as the largest market for the global fats & oils market with a 36.1% share of the market revenue in 2020.

  • The Asia-Pacific fats and oils market is expected to rise due to rising population and rising fats and oil consumption, particularly in Asian nations such as China and India.
  • Over the forecast period, the European fats and oil market is estimated to increase at a significant CAGR. Due to its health benefits and practicality, European sales of virgin coconut oil for industrial purposes have surged in the last decade. Europe, specifically Germany, the Netherlands, the United Kingdom, Belgium, and Sweden, are the key importing markets. During the forecast period, the South American fats and oil market is estimated to grow at a higher CAGR.

Asia Pacific region Fats & Oils Market Share in 2020 - 36.1%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global fats & oils industry.

ADM plans to open its first soybean mill and refinery in the United States in May 2021, to address rapidly increasing demand from animal feed, food, biofuel and industrial consumers, including renewable diesel producers.

Richardson International acquired Conagra Food Inc.'s Wesson Oil brand, an iconic edible oil brand in the United States, in December 2018. Canola oils, corn oils, vegetable oils, and blended oils are among the product offerings, which will help Richardson maintain a strong presence in the North American market.

List of Key Market Players:

  • AAK International
  • Bunge Limited
  • Ajinomoto Co., Inc.
  • Gemini Edibles & Fats India Pvt. Ltd.
  • Archer Daniels Midland Company
  • International Foodstuff Company Holdings Limited (IFFCO)
  • Associated British Foods Plc
  • Cargill, Incorporated
  • CSM Ingredients
  • Fuji Oil Co., Ltd.
  • Goodhope Asia Holdings Ltd.
  • United Plantations Berhad
  • K S Oils
  • Mewah International Inc.
  • Oleo Fats, Inc.
  • Wilmar International Limited
  • Richardson International Limited
  • Unilever Plc
  • Vega Foods
  • Welch, Holme& Clark Co., Inc.

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm
  • Key Consulting Companies & Advisors
  • Venture capitalists
  • Third-party knowledge providers

Report Description:

  • Global Fats & Oils Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2030 are the forecast years. The global fats & oils market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global fats & oils market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East &Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of fats & oils based on type, application and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global fats & oils market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global fats & oils market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market related i.e., global fats & oils market) is covered to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the fats & oils market was valued at USD 216.45 Billion in 2020 to USD 320.4 Billion by 2030.

Global fats & oils market is growing at a CAGR of 4% during the forecast period 2021-2030.

The global fats & oils market has been segmented based on type, application, and regions. The butter sub-segment is expected to account for the largest market share in the fats and oils market over the forecast period.

Asia Pacific region emerged as the largest market for the fats & oils.

The market's growth will be influenced by increased global consumption of vegetable oils which is fuelled by rising food demand.

Increase in health problems could hamper the market growth.

Supportive policies for the use of vegetable oil in a variety of countries will provide huge opportunities to the market.

Key players AAK International, Bunge Limited, Ajinomoto Co., Inc., Gemini Edibles & Fats India Pvt. Ltd., Archer Daniels Midland Company, International Foodstuff Company Holdings Limited (IFFCO), Associated British Foods Plc, Cargill

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis ByType
          4.3.2. Market Attractiveness Analysis ByApplication
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increased global consumption of vegetable oils is fuelled by rising food demand
    5.3. Restraints
          5.3.1. Increase in health problems
    5.4. Opportunities
          5.4.1. Supportive policies for the use of vegetable oil in a variety of countries
          5.4.2. Increased health awareness
    5.5. Challenges
          5.5.1. High intensity competition

6. Global Fats & Oils Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Fats
    6.3. Oils

7. Global Fats & Oils Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Industrial
    7.3. Food
    7.4. Animal Feed

8. Global Fats & Oils MarketAnalysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Fats & Oils Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Fats & Oils Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Component Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. AAK International
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Component Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Bunge Limited
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Component Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Ajinomoto Co., Inc.
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Component Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Gemini Edibles & Fats India Pvt. Ltd.
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Component Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Archer Daniels Midland Company
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Component Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. International Foodstuff Company Holdings Limited (IFFCO)
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Component Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Associated British Foods Plc
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Component Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Cargill, Incorporated
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Component Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. CSM Ingredients
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Component Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Fuji Oil Co., Ltd.
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Component Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. Goodhope Asia Holdings Ltd.
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company Component Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis
    10.12. United Plantations Berhad
          10.12.1. Business Overview
          10.12.2. Company Snapshot
          10.12.3. Company Market Share Analysis
          10.12.4. Company Component Portfolio
          10.12.5. Recent Developments
          10.12.6. SWOT Analysis
    10.13. K S Oils
          10.13.1. Business Overview
          10.13.2. Company Snapshot
          10.13.3. Company Market Share Analysis
          10.13.4. Company Component Portfolio
          10.13.5. Recent Developments
          10.13.6. SWOT Analysis
    10.14. Mewah International Inc.
          10.14.1. Business Overview
          10.14.2. Company Snapshot
          10.14.3. Company Market Share Analysis
          10.14.4. Company Component Portfolio
          10.14.5. Recent Developments
          10.14.6. SWOT Analysis
    10.15. Oleo Fats, Inc.
          10.15.1. Business Overview
          10.15.2. Company Snapshot
          10.15.3. Company Market Share Analysis
          10.15.4. Company Component Portfolio
          10.15.5. Recent Developments
          10.15.6. SWOT Analysis
    10.16. Wilmar International Limited
          10.16.1. Business Overview
          10.16.2. Company Snapshot
          10.16.3. Company Market Share Analysis
          10.16.4. Company Component Portfolio
          10.16.5. Recent Developments
          10.16.6. SWOT Analysis
    10.17. Richardson International Limited
          10.17.1. Business Overview
          10.17.2. Company Snapshot
          10.17.3. Company Market Share Analysis
          10.17.4. Company Component Portfolio
          10.17.5. Recent Developments
          10.17.6. SWOT Analysis
    10.18. Unilever Plc
          10.18.1. Business Overview
          10.18.2. Company Snapshot
          10.18.3. Company Market Share Analysis
          10.18.4. Company Component Portfolio
          10.18.5. Recent Developments
          10.18.6. SWOT Analysis
    10.19. Vega Foods
          10.19.1. Business Overview
          10.19.2. Company Snapshot
          10.19.3. Company Market Share Analysis
          10.19.4. Company Component Portfolio
          10.19.5. Recent Developments
          10.19.6. SWOT Analysis
    10.20. Welch, Holme & Clark Co., Inc.
          10.20.1. Business Overview
          10.20.2. Company Snapshot
          10.20.3. Company Market Share Analysis
          10.20.4. Company Component Portfolio
          10.20.5. Recent Developments
          10.20.6. SWOT Analysis
 

List of Table

1. Global Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

2. Global Fats,Fats & OilsMarket, By Region, 2018-2030 (USD Billion) 

3. Global Oils Fats & OilsMarket, By Region, 2018-2030 (USD Billion) 

4. Global Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

5. Global Industrial Fats & Oils Market, By Region, 2018-2030 (USD Billion) 

6. Global Food Fats & Oils Market, By Region, 2018-2030 (USD Billion) 

7. Global  Animal Feed Fats & Oils Market, By Region, 2018-2030 (USD Billion) 

8. Global Fats & Oils Market, By Region, 2018-2030 (USD Billion) 

9. North America Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

10. North America Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

11. U.S. Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

12. U.S. Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

13. Canada Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

14. Canada Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

15. Mexico Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

16. Mexico Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

17. Europe Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

18. Europe Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

19. Germany Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

20. Germany Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

21. France Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

22. France Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

23. U.K. Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

24. U.K. Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

25. Italy Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

26. Italy Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

27. Spain Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

28. Spain Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

29. Asia Pacific Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

30. Asia Pacific Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

31. Japan Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

32. Japan Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

33. China Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

34. China Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

35. India Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

36. India Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

37. South America Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

38. South America Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

39. Brazil Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

40. Brazil Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

41. Middle East and Africa Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

42. Middle East and Africa Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

43. UAE Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

44. UAE Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

45. South Africa Fats & Oils Market, By Type, 2018-2030 (USD Billion) 

46. South Africa Fats & Oils Market, By Application, 2018-2030 (USD Billion) 

List of Figures

1. Global Fats & Oils Market Segmentation

2. Fats & Oils Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Fats & Oils Market Attractiveness Analysis By Type

9. Global Fats & Oils Market Attractiveness Analysis By Application

10. Global Fats & Oils Market Attractiveness Analysis By Region

11. Global Fats & Oils Market: Dynamics

12. Global Fats & Oils Market Share by Type (2020 & 2030)

13. Global Fats & Oils Market Share by Application (2020 & 2030)

14. Global Fats & Oils Market Share by Regions (2020 & 2030)

15. Global Fats & Oils Market Share by Company (2020)

This study forecasts revenue at global, regional, and country levels from 2018 to 2030. The Brainy Insights has segmented the global fats & oils market based on below mentioned segments:

Global Fats & Oils Market by Type:

  • Fats
  • Oils

Global Fats & Oils Market by Application:

  • Industrial
  • Food
  • Animal Feed

Global Fats & Oils Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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