Enriched Edible Oils Market | In-depth analysis by leader
Enriched Edible Oils Market
Increased vitamin A deficiency issues, changing dietary habits of consumers, growing awareness of healthy eating are major factors in the growth of the global fortified edible oils market. The global fortified edible oils market was valued at USD 12.2 billion in 2018 and is expected to reach USD 16.4 billion in 2026, with a CAGR of 3.8% during the forecast period.
Fortified edible oils are used to maintain vitamin levels in the human body as they are fortified with micronutrients. Fortified edible oils are considered a simple and inexpensive solution to micronutrient deficiencies. The increase in vitamin deficiency problems such as vitamin A deficiency (CVA) due to busy lifestyles is driving the demand for fortified edible oils. As a result, most companies started fortifications, which increased the demand for fortified edible oils in the world market. According to statistical research, edible oils fortified with vitamin A have effectively reduced xerophthalmia and VAW by 74-90% worldwide. In developed countries of Europe and North America, the use of minimally processed foods and the market for safe fortified edible oils, such as fortified olive oil, have increased significantly with the increased use of olive oil in the preparation of meat and salads, because olive oil contains more vitamin A and other phytonutrients.
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The major players operating in the global fortified edible oils market are Bunge Limited (US), Ruchi Soya Industries (India), Conagra Brands (US), Archer Daniels Midland (US), Adani Wilmar (Singapore) , Nestlé (Switzerland), Allanasons Private (India), Lam Soon (Malaysia), Liberty Oil Mills (India) and King Rice Oil (Bangkok) among others.
Changing standard of living and increasing disposable income are also contributing to the growth of the global fortified edible oils market. Due to the rapid urbanization, people are adopting a healthier lifestyle and consuming edible oil fortified with vitamins, which helps to increase the demand for fortified edible oils in the global market. In addition, the growing number of partnerships between public and private companies to fight against malnutrition by launching different fortified oils is also stimulating the demand for fortified edible oils. Advancing technologies and new product development strategies are expected to create new opportunities for fortified edible oils in the global market. With the growth of the online market, retailers are moving towards adopting innovative technologies, including big data analytics, cloud computing, digital stores and social media networks, in order to effectively connect with consumers and expand their customer base.
However, the high price of fortified edible oils and the lack of awareness of the benefits of fortified edible oils among consumers may hamper the growth of the global fortified edible oils market.
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Segmentation of the enriched edible oils market:
By product type:
1. Palm oil
2. Soybean oil
3. Rice bran oil
4. Sunflower oil
1. Vitamin A
2. Vitamin D
3. Vitamin E
By distribution channel:
1. Supermarkets / Hypermarkets
2. Grocery stores
3. Electronic commerce
1.North America (United States and Canada)
2. Europe (UK, Germany, France and rest of Europe)
3.Asia-Pacific (China, Japan, India and rest of Asia-Pacific)
4.Latin America (Brazil, Argentina and the rest of Latin America)
5.Middle East & Africa (GCC & Rest of Middle East & Africa)
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