Global Fortified Edible Oils Market Grows Due To Growing Vitamin Deficiency In Adults And Children – The Food Beverage News
Fortification of edible oils includes the process of increasing essential micronutrients in order to improve public health benefits by increasing overall nutritional quality.
The increase in vitamin deficiency globally is estimated to be the driving factor for the growth of the global fortified edible oils market. In particular, vitamin A deficiency is one of the main causes of preventable childhood blindness. Many Americans exceed general caloric requirements, but do not meet nutritional requirements for essential vitamins and minerals. The World Health Organization (WHO) has classified vitamin A deficiency as a public health problem in major regions of the world. WHO has also estimated that more than two billion people suffer from micronutrient deficiency worldwide. The widespread use of cooking oil, coupled with the mandatory fortification requirement imposed by several food authorities in developed countries, as well as in developing and underdeveloped countries, are factors that are significantly fueling the market. world of enriched edible oils.
In addition, the increased awareness of end users and consumers of the importance of following the recommended dietary intake of appropriate amounts of vitamins in the human body has changed the dietary habits of consumers and increased user awareness. Such factors are fueling the fortified edible oils market growth across the globe. On the other hand, the high cost of these products compared to their counterparts remains a brake on the growth of the market. Consumers in many underdeveloped countries may not have reached the affordability factor which may hamper the growth of the market to some extent in the near future.
The global fortified edible oils market is segmented on the basis of type, micronutrient, distribution channel and region. The market, depending on the type, is divided into soybean oil, palm oil, rice bran oil, sunflower oil, canola oil, olive oil, and others. The market for fortified edible oils, based on micronutrients, is fragmented into vitamin A, vitamin D, vitamin E and others. The market, on the basis of the distribution channel, is segmented into supermarkets and hypermarkets, grocery stores, e-commerce and others.
Geographically, the Asia-Pacific region is likely to dominate the global fortified edible oils market and is expected to continue to dominate during the forecast period. Reasons such as growing health concerns among consumers, growing consumer awareness of fortified edible oils and willingness to spend on these products are driving the market growth in this region. France and Germany are the main countries for market growth in the European region. The American region is expected to hold a substantial position in the market due to the increasing demand and awareness campaigns created by the major market players. On the other hand, increasing vitamin deficiencies in the Middle East and Africa are expected to fuel the market growth.
The global fortified edible oils industry is very competitive and is characterized by the presence of many leading players. Major players include Ruchi Soya Industries, Bunge Limited, Conagra Brands, Adani Wilmar, Archer Daniels Midland, Nestlé, Allanasons, Lam Soon, Liberty Oil Mills and King Rice Oil. In February 2020, Adani Wilmar launched a new logo for her edible oil brand “Fortune”. The new logo symbolizes modern aesthetics while maintaining the basic philosophy of the Fortune brand. Such a strategy aims to attract a high target audience.
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With a Masters Degree in Brewing Technology and 6 years of global editorial experience, Jerri has been one of the most workaholic and dedicated members of the thefoodbeveragenews.com portal team. She has been part of this portal for 4 years now. Jerri started a career in writing as a freelance writer and the trip was worth watching and reviewing. She manages the beverage industry area of the portal and, together with her team, provides readers with all the essential and breaking news and reports in an easy and understandable way.