The global fortifiededible oils market is a competitive business landscapecharacterized by several players with a worldwide presence. Some of the keyplayers in the market are Conagra Brands, Inc., Bunge Limited, Ruchi SoyaIndustries Ltd., Adani Wilmar Limited, and Archer Daniels Midland Company.
The fortifiededible oils market is witnessing an intense global competition currently. Majorplayers are competing to grab the largest share of the global pie with newproduct launches and heavy marketing efforts. Many large players are keenlylooking out for new opportunities in emerging market. Availing a wide range ofdistribution channels is proving to be effective for many companies. Thecurrent efforts of most players in the fortified edible oils market are focusedon building a valuable brand.
According tothe latest report by Transparency Market Research, total revenue generated inthe fortified edible oils market in 2018 stood at US$10,207.1 Mn. The globalfortified edible oils market is expected to rise at 3.4% CAGR during 2018 -2026.
Productswith vitamin A are expected to hold the largest market share in the fortifiededible oils market. Increasing deficiencies of vitamin A and growing awarenessabout various disorders associated with it are expected to drive growth of thefortified edible oils market.
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Similarly,the fortified edible oils market in the Middle East and Latin America isexpected to bag the largest share of the global market. Fortified edible oilsare extremely prominent in cuisines in both the regions. Additionally, theexpansion by global players in this region is expected to drive the fortifiededible oils market growth. The region is expected to account for 34.0% of theglobal market share during the forecast period.
GrowingHealth Consciousness Expected to Drive Premium Quality Products and Brands
Prevalenceof malnutrition, vitamin A deficiencies, and health awareness drive the globalfortified edible oils market. As major players in the market increasinglyestablish a presence in the emerging regions, the healthy brand of productswill play a bigger role in driving the demand. These companies spend aconsiderable fortune in gaining high visibility with apt product placements. Asnew channels of distribution like online become more viable, the completion forquality branding is expected to go up significantly. Moreover, consumers areincreasingly turning toward premium products in an effort to avail the bestquality product. Due to considerable demand for quality products, variousmanufacturers are also voluntarily engaging in fortification of edible oilsproducts.
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Trans-fat free soybean oil &canola oil products represent key opportunities
The globalfortified edible oil market companies are moving to new markets and are facedwith new dilemmas related to consumer preferences. In recent times, productswith trans-fat free soybean oil, olive oil, and canola oil are emerging as keyconsumer preferences. Growing health consciousness, changing dietarypreferences, and improving living standards in emerging economies are expectedto drive growth of the global fortified edible oil market. During the forecastperiod, oils with low fat, calories, and cholesterol are expected to drive themarket growth. Additionally, well developed sales network, both online andoffline, represents a major opportunity for players in the fortified edibleoils market.
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