Low Fat Oil: Market outlook
Increasing awareness in world regarding obesity, diabetes and heart related diseases are liable to change the food habit of the consumers. Increasing demand of healthy food and food products among consumers has tend to increase the demand for low fat oil. Cooking oil manufactures are now mainly focusing on healthier products which are in low carbohydrate and low cholesterol.
Cooking oil are made up of polyunsaturated, monounsaturated and saturated fat. Saturated fat increases the cholesterol level while polyunsaturated and monounsaturated are two type of unsaturated fat which helps in lowering the bad cholesterol. Low fat oils such as canola oil, coconut oil and sunflower oil are beneficial for health. Low fat oil not only decreases the risk of cardiovascular disorders but it also reduces the possibility of breast cancer.
Gaining popularity of OMEGA-3 fatty acid for its extraordinary anti-inflammatory feature as a dietetic essential has made the food industry adopt the process of low fat oil and produce the oil from flax seeds, soybean, and canola.
Another factor which is driving the low fat oil market is increasing global population, leads to consumption of cooking oil. Moreover, busy lifestyle and changing diet pattern among the professionals is predicted to change the taste and preference of consumers and the demand for low fat oil will be propelled.
From last few years some big manufactures like Cargill Inc. and Unilever PLC are investing towards the manufacturing of low fat oil in market.
- For instance, Cargill is investing about R$52 million to increase its production capacity for low fat oil in Mairinque and Itumbiara plants. This expansion is made to meet the rising demand of consumers and leverage the production of healthy food solution for food market. It will help the Cargill to its production capacity of low fat oil by 35%. Cargill will invest in increasing the local storage and shipping area for Mairinque plant because it produces higher output of low fat oil. Cargill had joined hands with Unilever as a strategic partner for low fat oil and food ingredients.
Changing Consumer Preference and Increasing Hotels and Restaurants Driving the Low Fat Oil Market
The prime driver of low fat oil market is the increasing awareness of healthy diet. Changing preference and taste of consumers is expected to promote the usage of low fat oil. Low fat oil not only add healthy nutrients to food but also add good flavor to foods, like groundnut and peanut oil has exceptional aroma which make food exotic.
It has witness in last twenty-year people had increased their visits in restaurants and hotels. Now, hotel and restaurant industry are also moving towards providing healthier food to its customers.
Large hotel international brands are taking active steps to redesign the process and procedure of serving food to its customers. For instance, Marriot International announced to ban trans-fat considering it to be unhealthy from its menu across Europe, U.S and Canada.
Increasing number of restaurant and hotel in developing countries such as India and China, has increased the consumption of low fat oil market. The increase in disposable income and improvement in living standards has increased the number of restaurants and hotels.
It has also increased the consumption of low fat oil. Low fat oil such as rapeseed oil, sunflower, and palm oil is becoming popular in fast food restaurants sector. Now a day’s, consumers are more concern about the ingredients used.
Consumer are showing interest towards ingredients and are ready to pay higher price which avoids animal products, antibiotics, additives etc. Consumer’s preference is rising towards low calorie, low fat, natural and organic products. Moreover, changing preference of dine out during weekends in middle class income of country like UAE and Saudi Arabia is projected to open new market in food service industry in next eight years.
Cargill signed an agreement with DCPL (Dalmia Continental Pvt. Ltd.) to acquire its olive oil brand Leonardo business. Leonardo is one of the leading brands in India and it is innovator in launching use and popularity of olive oil in India.
Cargill being a strong global player in olive oil sector, this acquisition will help to create Cargill value for budding and high growth segment in India. This acquisition will help Cargill amalgate its position in the finest oil segment.
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Low fat oil market: Key players
Some of the key players operating in the global low fat oil are as follows-
- Cargill Inc.
- Unilever PLC
- united plantations Berhad
- International foodstuff company limited
- Associate British foods plc
- Archer Daniels midland company
- ConAgra food Inc.
- CHS Inc.
- Bunge limited and many more.
Many big low fat oil manufactures moving towards producing low fat oil either by acquiring other companies which is already in the same market or they are expanding their geographical area by opening their processing plants. For instance-
- Bunge Loders Croklaan is one of the key producer of low fat oil, in July 2019 has opened its new processing plant in China. It would help the China to meet the demand for special herbal oils for food service industry.
- AAK acquired a Dutch vegetable oil refinery in Feb 2019. This expansion will increase the production capacity, and it will continue to grow for food industry.
Low fat oil market: Regional analysis
The low fat oil in North America is determined by advancement in technology. Health agencies have taken essential effort to promote consumption of low calorie and cholesterol free cooking oils.
Educated and high earning consumers are using this low fat oil to reduce the risk of heart diseases. It has increased the demand for healthy, nutritious and natural foods. It is expected to see growth in low fat oil in North America during forecast period.
The countries included in the LAMEA region are South America, Middle East, and Africa. Speedy developments in the Middle East in terms of technology and infrastructure have enhanced the LAMEA market, which has led to the growth of the low fat oils market forecast in LAMEA.
Asia Pacific is predicted to report remarkable CAGR as a result of increasing disposable income, population growth and urbanization in developing economies such as Bangladesh, China and India.
The above mention economies are estimated to have favourable impact on market because of increasing acceptance of low calorie and low fat oil among middle income group. The prime consumption of diet of Mediterranean among the customers from France, Spain and Italy is estimated to upscale the necessities of specialty oils including olive oil.
The research report presents a comprehensive assessment of the low fat oil market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The research report provides analysis and information according to market segments such as application, product type, form, nature and sales channel.
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The report covers exhaustive analysis on:
- Low fat oil market Segments
- Low fat oil market Dynamics
- Low fat oil market Size
- Low fat oilSupply and Demand
- Current Trends/Issues/Challenges pertaining to low fat oil market
- Competition Landscape and Emerging Market Participants in low fat oil market
- Technology related to Production/Processing of low fat oil.
- Value Chain Analysis of the low fat oil.
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
- Detailed overview of parent market
- Changing dynamics of the low fat oil market in the industry
- In-depth market segmentation and analysis
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments in low fat oil market
- Competitive landscape of the low fat oil market.
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective low fat oil market performance
- Must-have information for low fat oil market players to sustain and enhance their market footprint.
Low fat oil: Market segmentation
On the basis of type, the global low fat oil market can be segmented as:
- Canola oil
- Olive oil
- Sunflower oil
- Coconut oil
- Palm oil
On the basis of End use, the global low fat oil market can be segmented as:
- Food Processing
- Bakery Products
- Confectionary Products
- Processed Food Products
- Food service
- Food Processing
On the basis of nature, the global low fat oil market can be segmented as:
On the basis of distribution channel, the global low fat oil market can be segmented as:
- Convenience Store
- Specialty Store
- Online Retailers
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