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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