The South America fats and oils market size is expected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the buyers inclined toward natural products.
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Fats and oils are the main part of a healthy diet. These are the natural substances. Fats are esters of glycerol with three unsaturated fats that are soaked, monosaturated, and polysaturated.
There are various prerequisites for various food items like bread shop items require moderate measure of fat, broiling oils need to have oxidative dependability, frozen yogurts need to base on fat which is at 0°C, and chocolate should be founded on cocoa spread. Manufacturers are centered on making better items. Coconut oil and soybean oil are great for wellbeing as it reduces the danger of heart illnesses. . Soaked unsaturated fat builds the cholesterol level in the body while monosaturated and polysaturated fats reduces the cholesterol level.
Oils market in South America enrolled a negative CAGR of - 2.78% during the period 2012 to 2017 with a business worth of USD 5,570.32 Million out of 2017, an expansion of 13.30% more than 2016. The market accomplished its most grounded execution in 2017, when it developed by 13.30% over its earlier year and its most vulnerable presentation in 2015, when it fell by - 20.03% more than 2014.
Market Trends, Drivers, Restraints, and Opportunities
- Growing demand of omega-3 fatty acids is projected to boost the market during the forecast period.
- Rapid growth of the oils and fats market is fueled by the development of the HoReCa sector.
- Increasing per capita income and changing consumer lifestyle are the major factors boosting the market.
- Rapid growth of the bakery and confectionary industry is the major factor fueling the market.
- Rising awareness and high risk of health issues such as obesity and cardiovascular problems are expected to hamper the market growth.
- Government laws for food handling and expanding natural concern act as major factors that can hamper the market growth during the forecast period.
Market Segment Insights
The palm oil segment is projected to represent a major market share
Based on types, the South America fats and oils market is fragmented into fats, specialty fats, and oils. The fats segment is further segregated into butter, tallow, and lard The specialty Fats segment is sub-segmented into cocoa butter equivalents, cocoa butter replacers, cocoa butter substitutes, cocoa butter improver, milk fat replacer, and other specialty fats and the oils segment is further sub-segmented into soybean oil, sunflower seed oil, palm oil, coconut oil, olive oil, and other oils. The palm oil segment is expected to hold a key share of the market during the forecast period.
The bakery products segment is expected to hold a major market share
Based on applications, the South America fats and oils market is segregated into food, industrial and animal feed. The food segment is further segmented into confectionery, bakery products, dairy products, and other foods. The bakery products segment is expected to grow at a rapid pace owing to the rising interest for the pastry shops. Numerous shoppers are utilizing various fats for bread kitchen and confectionary items. However, several ventures like biodiesel are expected to grow at a substantial rate during the forecast period due to rising interest for palm oil.
The market in South America is anticipated to dominate the market
On the basis of geography, the South America fats and oils market is categorized as Brazil, Colombia, Venezuela, and rest of South America. The market of South America is anticipated to dominate the market during the forecast period. Growth of the oil and fats market can be attributed to exclusive requirement of living, rising interest of animal food products, and expanding interest for healthy and processed food.
Competitive Landscape
Key players competing in the fats and oils market include Cargill. Inc., Bunge Limited, Olam International Limited, and Fuji Oil Holdings Inc.
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