Low fat? Or No fat? Despite its poor appearance, fat has multiple vital functions in our bodies. We all need some fats in our diet. Maintaining the correct balance of the various types of fats helps keep your cholesterol and triglyceride levels and your heart healthy. The global edible oil & fats market was valued at USD 247.90 billion in 2022 and is expected to grow to USD 361.68 billion at a CAGR of 3.8% during the forecast period by 2032.
Fats and oils make a noteworthy contribution to adequate nutrition; they are important for the following reasons:
- Source of energy
- Absorbs some vitamins from food. These are the fat-soluble vitamins A, D, E, and K
- Healthy immune system
- Brains to function
In this blog, let’s see who’s leading the top in the edible oil & fats market.
Edible Oil & Fats Market Key Players
#1 Cargill
Cargill is an American multinational corporation for over 150 years dealing in food processing, agriculture, and financial services. It creates animal nutrition, bakery fats, margarine, shortenings, chocolate, edible oil, starches, and sweeteners. The company also makes creative and sustainable items to diversify its product offering and draw in customers who care about the environment.
#2 Adani Wilmar Ltd
Adani Wilmar Limited is a joint venture enterprise between the Adani Group and Wilmar International Limited, incorporated in 1999. They are one of the few significant FMCG food firms in India to provide the most basic kitchen necessities, such as sugar, wheat flour, rice, rice legumes, and edible oil, to Indian consumers. Their goods are sold under numerous labels, span a wide price range, and target various customer demographics.
#3 Bunge Limited
Bunge is an Amsterdam-based company founded in 1818. It is an upstream and downstream player in the food value chain and an agribusiness and food firm. The company’s product offerings include specialty fats, wheat flour, rice, animal feed, pulses, and edible oils like soybean, sunflower, canola, and palm oil. The company has numerous collaborations with top businesses and research institutions that help it diversify its supply chain, create environmentally friendly manufacturing processes, and increase its market share.
#4 Aceites Borges Pont S.A.
Borges is of Mediterranean descent, a family-run business with 125 years of history and a significant global presence. They are leaders in the industrial processing, packaging, commercialization, and management of agricultural farms for producing olive oils, seed oils, vinegar, nuts, olives, pasta, and nut beverages.
#5 Kaneka Corporation
Kaneka is a Japanese company established in 1949. Along with other food businesses, it enters the edible oil market with various oils and fats created for particular applications, including cooking and frying. Products for ice cream and liquids with strong oxidation stability fall under this category.
#6 The Nisshin Oillio Group
Kihachiro Okura and Kyujiro Matsushita founded the Nisshin Oillio Group in 1907 under the name Nisshin Soybean Crushing Co. They offer a Diverse Offering of Products Built on Reliable Customs and Technologies. In many different industries, they are using the technologies we developed in our oils and fats businesses.
#7 GrainCorp
GrainCorp is a renowned Australian agribusiness and processing enterprise of more than 100 years that has partnered with growers and producers to connect them with domestic and foreign consumers. They oversee a variety of grains, pulses, and oilseeds and create animal feed, oils, and shortenings for the food production business, as well as edible oils and biofuel components.
#8 Sime Darby Plantation Berhad
Sime Darby Plantation, a Malaysian agricultural products company, produces palm oil and fats in addition to other agricultural goods. Sime Darby is no new to controversy; most recently, it has been charged with using forced labor in its operations. Palm oil industries are frequently overlooked for sustainable difficulties and push labor concerns.
#9 Agro Tech Foods Ltd
Agro Tech Foods Ltd., established in 1986, is a publicly-traded company that processes and markets food. Its product line includes ready-to-eat meals, peanut butter, mayonnaise, margarine, snacks, and edible oils. The business is also concentrating on growing throughout India. It has consequently built some manufacturing and processing facilities across the nation. Additionally, it is creating new and inventive products to remain competitive in the market and satisfy growing consumer expectations.
#10 N.K Proteins Pvt Ltd
A manufacturer specializing in creating and distributing edible oils and biodiesel is N.K Proteins Pvt Ltd., founded in 1992. It provides its clients with packaging, trash management, and consulting services. Additionally, it has collaborated with several institutions and groups to create environmentally friendly goods, lessen its influence on the environment, and draw in new clients.
Above All
These are the major global companies in the edible oil & fats market. They will likely increase nutritional importance globally, generating strong growth possibilities for the oil market.