Oils and fats are well known for its unique properties as they have high content of carbon and hydrogen and are generally flammable and surface active. Oils may origin from animal, vegetable, or petrochemical, and may be volatile or non-volatile. In the presence of three main macronutrients, along with carbohydrate and protein they are technically known as triglycerides and they are esters of three fatty acid chains and the alcohol glycerol. The increased focus on bio fuels, such as biodiesel from vegetable oils and animal fats will be providing ample opportunities for the demand of fats & oils in coming years.
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The Global Oils and Fats Market is accounted for $198.52 billion in 2017 and is expected to reach $332.56 billion by 2026 growing at a CAGR of 5.9% during the forecast period. Fats & oil in future will witness rapid growth across the world due to the rising disposable incomes, higher processed food & edible oil consumption and growing consumer awareness regarding health & wellness. Production of Biodiesel from fats & oils, along with other chemical and pharmaceutical applications are expanding worldwide and expected to be a humongous across the world. On coming to the product launch, well reputed company named Cargill launched a new line of sunflower oil certified as non-GMO. Whereas, South India Krishna Oil and Fats launched its new brand Goldivia Refined Sunflower Oil with an aim to diversify its product range and acquire maximum profit on the investment.
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In addition to this fats & oils market in Europe, has been continues shifting of oil consumption food to industrial purpose mainly building on the rising demand for rapeseed oils for the production of biodiesel. Throughout the countries like Germany, U.K the use of soybean oil has also increased for biodiesel production owing to government mandates for biofuel. Apart from these, they are perceived to be healthier and preferred by consumers. For instance, Olive oil, in particular, has had the highest growth rate due to its perceived health benefits. On considering all these aspects it is advisable for entrepreneurs to invest their capital.
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