Increased awareness of the demand for healthy cooking oil fuels in the global fortified edible oils market – The Food Beverage News
Fortification of edible oil is the process in which the amount of essential micronutrients is deliberately increased to improve nutritional content and help reduce risk to human health. The process is carried out by adding minerals and vitamins. Almost all types of oils can be fortified, such as mustard, peanut, palm olein, cottonseed, and soybeans. According to FSSAI research, the fortified edible oil market provides about 25-30% of a person’s daily intake of vitamin D and A.
The surge in health awareness coupled with supporting government initiatives is expected to fuel the global fortified edible oils market in the coming years. The process will likely experience its maximum penetration attributed to the increased use of cooking oils. In addition, key companies in collaboration with the FSSAI and the government are also exploring new avenues of growth in the market by investing in new innovations. The FSSAI has made fortification of edible oil mandatory in some countries like Morocco, Bolivia, Mozambique, India, Nigeria and Tanzania, which is driving the global market.
In addition, increasing vitamin A deficiency (VAD) has led to the birth of fortification programs in the form of public health initiatives. Thus, several players are engaged in a fortification which increases the demand on the world market for enriched edible oils.
However, there are some restraining factors believed to affect the growth of the market in the future. Chief among a few is the increase in the cost of fortified edible oils. In addition, the enrichment process is a complicated process which is expected to dampen demand in the market.
The global fortified edible oils market is broadly divided into product type, micronutrients, distribution channel, and region. Based on the type of product, the global market is segmented into soybean oil, palm oil, sunflower oil, corn oil, olive oil, rice bran oil, canola oil, etc. On the basis of micronutrients, the market is separated into vitamin D, vitamin A, vitamin E, etc. In terms of distribution channel, the global market is separated into B2B, supermarkets, specialty retail, e-commerce and others.
Geographically, Latin America, Middle East and Africa are expected to become the major regions of the global fortified edible oils market during the forecast period. This is attributed to the increasing use of these oils in several regional foods. The regions will likely be further followed by North America and Europe, which are expected to register significant growth rates attributed to the growing preference for consuming organic and healthy foods for overall health benefits.
The major players operating in the global fortified edible oils market are Archer Daniels Midland Company, Adani Wilmar, Conagra Brands, Inc., Bunge Limited, BASF SE, Cargill Incorporated, Nestle SA, Liberty Oil Mills, Ruchi Soya Industries Limited, Borges International Group, Lam Soon Group and Lam Soon Group, to name a few.
To quote, some time ago, Global Alliance for Improved Nutrition aka GAIN worked with NGOs and private stakeholders to improve the sale of fortified edible oils. It has successfully partnered in Indonesia for fortified vegetable oil rich in vitamin A.
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