"Market Intelligence that Adds Flavour to Your Success"
The global fortified edible oil market is projected to witness significant growth during the forecast years, owing to the increasing awareness regarding the health benefits associated with the product. Growing demand for premium edible products and ingredients, coupled with increasing government support to functional and fortified food products is expected to aid the growth of global fortified edible oil market during the forecast period.
Key companies operating in the global fortified edible oil market are focusing on the launch of innovative products for multiple industrial applications to maintain their market prominence. Archer Daniels Midland Company (U.S.), Cargill Incorporated (U.S.), BASF SE (Germany), and Bunge Limited (U.S.) are some of the key companies performing in the global fortified edible oil market.
Oil fortification is similar to any other food fortification in which micronutrients are added to improve its quality and make it more nutritious. The main ingredients used to fortify edible oils are various types of vitamins such as vitamins A, D, and E. Fortified oil has potentials to aid an individual’s health by offering the required amount of micronutrients required to stay healthy and prevent diseases.
Key Market Driver -
Key Market Driver – Growing demand for nutrient-rich diet due to increasing prevalence of malnutrition among individuals is expected to propel the market growth
Key Market Restraint -
Key Market Restraint – High price of the product is expected to hinder the market growth
Rising prevalence of nutrition deficiency among individuals, which results in various types of diseases is expected to propel the growth of fortified edible oil during the forecast period. Increased focus of key players on launching innovative and affordable fortified edible oil is anticipated to aid the market growth during the forecast years. Furthermore, rapid urbanization and an increasing number of health-conscious population is further expected to fuel the growth of fortified edible oil market in the upcoming years.
The high price of fortified edible oil is a major restraining factor for the growth of the market. Furthermore, complicacy associated with the fortification of edible oil is another prominent factor that is expected to hinder the growth of global fortified edible oil market.
Some of the major companies that are present in the global fortified edible oil market are Adani Wilmar, Archer Daniels Midland Company (U.S.), Bunge Limited (U.S.), Conagra Brands, Inc. (U.S.), BASF SE (Germany), Cargill Incorporated (U.S.), Nestle S.A., Ruchi Soya Industries Limited (India), Liberty Oil Mills (India), Lam Soon Group, and Borges International Group among the other players operating in the global fortified edible oil market.
On the basis of product, the global fortified edible market has been segmented into soy oil, palm oil, rice bran oil, sunflower oil, canola oil, Olive oil, and others. Among these, the demand for fortified rice bran oil is projected to grow at a significant pace due to low cholesterol level of the oil type, coupled with numerous health benefits offered by the product. The demand for fortified olive oil is projected to grow especially across developed economies due to the increasing demand for the product for applications in households as well as food service industry. Numerous health benefits associated with olive oil, coupled with high production of olive oil across prominent European economies such as Spain, Greece, and Italy is further expected to escalate the growth of European fortified edible oil market.
Among micronutrients, vitamin A is projected to dominate the market during the forecast years due to the rising prevalence of vitamin A deficiency in people, especially across developing economies. Rising consumer awareness about the health benefits of fortified oil rich in vitamin A is further anticipated to boost the segment’s growth. Vitamin A plays a crucial role in improving the heart, kidney, and eye health, along with improving immunity.
Asia Pacific is projected to dominate the global fortified edible oil market during the forecast years, due to the presence of countries such as India, Malaysia, Indonesia, and China where a number of oilseeds are grown and processed. Asia accounts for a dominant share in the global vegetable oil production. Increased focus on fortification of edible oils in emerging economies of Asia, coupled with edible oil fortification mandate in countries like India due to the high prevalence of malnutrition within the countries is projected to further boost the growth of Asian edible oil market during the forthcoming years.
To gain extensive insights into the market, Request for Customization
The demand for fortified edible oils is projected to grow in North America and Europe during the foreseeable years, due to an anticipated decrease in consumption of processed food across the region, which in turn will contribute to the growth of healthy and fortified edible oils (the consumption of which is higher across households).
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry