Lactase Market Growth Opportunities by 2027

The lactase market size is estimated to be valued at USD 247 million in 2022 and is projected to reach USD 336 million by 2027, recording a CAGR of 6.3% during the forecast period in terms of value. Heavy investments are being made in R&D by global giants to manufacture lactase products for the pharmaceutical, dietary supplements and food and beverage industry. The global lactase market has realized opportunities in terms of growing cases of lactose intolerance, increasing health awareness and rising interest in functional foods.

Some of the Prominent Key Players are:

• CHR. Hansen Holdings A/S (Denmark)
• Kerry Group plc. (Ireland)
• Koninklijke DSM N.V. (the Netherlands)
• Novozymes A/S (Denmark)
• Merck KGaA (Denmark)
• IFF (US)
• Amano Enzyme Inc. (Japan)

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Lactase Market Growth Drivers:

• Increasing Lactose Intolerance Awareness: As awareness of lactose intolerance grows globally, more individuals are seeking lactase supplements to aid in the digestion of dairy products. This increased awareness has expanded the consumer base for lactase products.
• Rising Demand for Lactose-Free Products: The demand for lactose-free and dairy-free products is on the rise due to a growing number of individuals with lactose intolerance or those who choose to follow a dairy-free diet. Lactase is a crucial ingredient in the production of these products, driving the market growth.
• Changing Consumer Dietary Preferences: Shifts in dietary preferences, including the adoption of healthier lifestyles and specialized diets, have led consumers to explore alternatives to traditional dairy products. Lactase supplements enable individuals to enjoy dairy without experiencing discomfort, catering to evolving consumer preferences.
• Global Increase in Dairy Consumption: Despite the rise in lactose intolerance awareness, there is still a significant global increase in dairy consumption. Lactase is utilized to enhance the digestibility of dairy products, allowing individuals to enjoy the nutritional benefits of dairy without the discomfort associated with lactose intolerance.
• Growing Health and Wellness Trends: The focus on health and wellness has prompted consumers to seek products that support digestive health. Lactase supplements contribute to improved digestion of lactose, aligning with the broader trend of functional foods and ingredients that promote overall well-being.

By application, the food & beverages segment is estimated to occupy the largest market share in terms of value

By application, the food & beverages segment is estimated to occupy the largest market share in the lactase market. The lactase enzyme is an enzyme that some people are unable to produce in their small intestines. Without it, lactase-deficient people cannot break down the natural disaccharide in milk. Adding lactase to milk hydrolyzes the lactose naturally found in milk, leaving it slightly sweet but digestible. This property of the enzyme increases its wider application in the food & beverages industry.

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Asia Pacific is projected to grow with the highest CAGR in the lactase market during the forecast period

The Asia Pacific region is projected to grow at the highest CAGR during the forecast period and occupies a significant share in the global lactase market. The increasing awareness regarding lactose intolerance in both adults and infants is gaining momentum in the region. Additionally, the demand for lactose-reduced infant formula and lactose-free products for adult nutrition is significantly catering to the growth of the lactase market in the region. Asia Pacific is also witnessing significant expansion in terms of production by key players operating in the market. The regional manufacturers are currently focusing on new product developments and strategic deals such as partnerships, collaborations, and expansions to create more awareness among consumers and cater to the growing demand.

Sustainable Growth Opportunities in the Specialty Fertilizers Market

The global specialty fertilizers market size is projected to reach USD 33.7 billion by 2027, recording a CAGR of 6.8% in terms of value. The global industry was estimated to be valued at USD 24.3 billion in 2022 and The high nutrient use efficiency and precise & localized application associated with the specialty fertilizers help reduce growers’ dependency on commercial fertilizer usage and simultaneously achieve higher quality crops and yields with a lower environmental impact. This trend is expected to drive the market significantly in value sales during the forecast period.

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UAN Provides Prolonged Nutrition to the Plants and has High Application Efficiency

UAN is one of the predominant nitrogen fertilizer sources used on pastures in the US. It provides prolonged nutrition to plants with nitrogen and has high application efficiency in all climatic zones, including dry climates. UAN applications is widely used in liquid fertilizer compared to solid and granular types. The Asia Pacific holds the largest share of the specialty fertilizer market for phosphorus, owing to the high production of cereals & grains and fruits & vegetables in China, India, and Japan.

Micronutrients are Essential for Plant Growth, Which Drives Demand For Micronutrient Fertilizers

Micronutrients consist of a fine blend of mineral elements comprising zinc (Zn), copper (Cu), manganese (Mn), iron (Fe), boron (B), and molybdenum (Mo). Mineral elements nurture horticultural crops, cereals, pulses, oilseeds, spices, and plantations. Despite their low demand, critical plant functions are hindered if micronutrients are unavailable, which results in plant deformations, lower yields, and diminished growth. Micronutrients are crucial for plant growth and play an important role in balancing crop nutrition. Micronutrient deficiency is easily identified by visual symptoms on crops and by testing soil and plant tissues. To understand these visual symptoms, it is necessary to know the role each micronutrient plays in plant growth and development.

Micronutrients are important in crop nutrition because of the increased demand for higher-yielding crops and intensive cropping. Plants require micronutrients in relatively trace amounts, which play an important role in plant metabolism, chlorophyll synthesis, the production of carbohydrates, and fruit and seed development. Apart from the direct benefits of increased crop production, micronutrients increase the efficiency of macronutrient fertilizers. The most common method of micronutrient application for crops is soil application.

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South America is growing at the fastest CAGR during the forecasted period.

The South American market includes Brazil, Argentina, Chile, and the rest of South America. According to USDA, Brazil is one of the few nations in the world with the ability to boost agricultural yields and area. The rising adoption of agrochemicals, advancements in farming techniques in Brazil & Argentina, and extensive distribution channels of global agrochemical players are projected to drive market growth.

Brazil and Argentina will occupy the major market share for specialty fertilizers in South America in 2021. However, according to FAO, these countries also depend on other nations for fertilizers since domestic production could not meet the rising demand in 2020. The climatic conditions of these countries help in the cultivation of diverse crops. Soybean, sugarcane, corn, rice, fruits, and vegetables are the major crops cultivated in this region.

The key players in this market include Nutrien Ltd. (Canada), Yara (Norway), ICL (Israel), The Mosaic Company (US), CF Industries and Holdings, Inc. (US), Nufarm (Australia), SQM SA (Chile), OCP Group (Morocco), Kingenta (China), K+S Aktiengesellschaft (Germany), OCI Nitrogen (Netherlands), EuroChem (Switzerland), Coromandel International Limited (India), Zuari Agro Chemicals Ltd. (India), and Deepak Fertilizers and Petrochemicals Corporation Limited (India).

Biostimulants Market Industry Overview, Growth Opportunities, and Leading Players

 The global biostimulants market is estimated at USD 3.9 billion in 2023 and is projected to reach USD 6.8 billion by 2028, at a CAGR of 11.8% during the forecast period. The global biostimulants market has witnessed remarkable growth in recent years, driven by increasing awareness of sustainable agricultural practices and the need for enhanced crop productivity. Biostimulants are natural or synthetic substances that stimulate plant growth and development, improving nutrient uptake and stress tolerance. As the demand for organic and environmentally friendly farming practices rises, biostimulants play a pivotal role in optimizing plant health and overall yield. With advancements in biotechnology and research, the biostimulants market is poised for further expansion, offering innovative solutions for farmers to meet the challenges of a growing global population and changing climate conditions.

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By active ingredient type, microbial amendments are estimated to grow at the highest rate in the biostimulants market.

The global biostimulants market is witnessing a significant surge in interest and investment, with microbial amendments emerging as a key driver of this growth. Microbial amendments, which encompass beneficial microorganisms such as bacteria and fungi, are gaining prominence for their pivotal role in enhancing soil health and promoting sustainable agricultural practices. These microscopic allies contribute to improved nutrient uptake, disease resistance, and overall plant performance, making them integral components of modern farming strategies. As awareness of the environmental impact of traditional agricultural practices grows, microbial amendments are increasingly being recognized for their ability to reduce the reliance on synthetic fertilizers and pesticides. This shift aligns with the global trend towards eco-friendly and organic farming methods. The market for microbial amendments is characterized by ongoing research and development initiatives aimed at harnessing the full potential of beneficial microorganisms.

By crop type, fruits & vegetables accounted for the largest share in 2022 in terms of value

The global biostimulants market is witnessing a significant upswing, particularly within the fruits and vegetables crop segment, as growers increasingly recognize the value of these innovative products in enhancing yield and quality. Biostimulants, comprised of natural compounds and microorganisms, serve as growth enhancers for plants, promoting nutrient uptake and stress tolerance. In the fruits and vegetables sector, where quality and appearance are paramount, biostimulants have emerged as indispensable tools for growers aiming to optimize crop production while adhering to sustainable practices. The demand for biostimulants in fruit and vegetable cultivation is propelled by a growing consumer preference for fresh, high-quality produce and a simultaneous desire for environmentally conscious farming methods. These biostimulants not only improve the overall health of plants but also contribute to the reduction of chemical inputs, aligning with the increasing global focus on sustainable agriculture.

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By Form, the dry segment is estimated to grow at a higher rate in the biostimulants market

One of the primary advantages of dry biostimulants lies in their versatility and compatibility with various cropping systems. The concentrated nature of these formulations allows for precise dosing, ensuring cost-effectiveness for farmers. As agriculture continues to grapple with challenges such as climate change and resource constraints, the dry biostimulants market is poised to address these issues by promoting water-use efficiency, nutrient absorption, and stress tolerance in plants. The dry form of biostimulants has emerged as a key player in the ever-evolving agricultural landscape, offering farmers a convenient and efficient solution to enhance crop productivity. With the increasing demand for sustainable farming practices, the dry biostimulants market has witnessed substantial growth. These formulations, available in powder or granular forms, provide ease of storage, transportation, and application, making them a preferred choice for farmers seeking practical solutions for improved plant growth and development.

By mode of application, the seed treatment segment is estimated to grow at the highest rate in the biostimulants market.

Seed treatment involves the application of biostimulants to seeds before planting, aiming to enhance germination, seedling vigor, and overall crop performance. As sustainability becomes a focal point in agriculture, seed treatment with biostimulants offers a targeted and efficient approach to optimize plant growth while minimizing environmental impact. Biostimulant-infused seed treatments not only improve nutrient uptake and stress tolerance but also contribute to the reduction of chemical inputs, aligning with the global push towards eco-friendly farming practices. This trend is bolstered by continuous research and development efforts, leading to the introduction of innovative seed treatment solutions that cater to diverse crops and environmental conditions.

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The Europe region will account for the largest share in 2022 in terms of value.

The region's agricultural landscape is characterized by a strong commitment to environmental stewardship, with farmers increasingly seeking innovative solutions to enhance productivity without compromising long-term sustainability. The European Union's endorsement of bio-based products, coupled with supportive regulatory frameworks, has provided a conducive environment for the widespread adoption of biostimulants across various crops. Biostimulants, which encompass a diverse range of substances fostering plant growth, have garnered increasing attention as key contributors to optimizing crop yields while minimizing ecological impact. The European market for biostimulants is experiencing robust growth, driven by stringent regulations promoting sustainable farming practices and the increasing preference for organic produce.

Key players operating in this market include BASF SE (Germany), UPL (India), Valagro (Italy), Gowan Group (US), FMC Corporation (US), ILSA S.p.A (Italy), Rallis India Limited (India), Haifa Group (Israel), ADAMA (Israel), Biovert-Manvert (Spain), Koppert (Netherlands), and AgriTecno (Spain). These players in this market are focusing on increasing their presence through expansion and collaboration. These companies have a strong presence in North America, Asia Pacific, and Europe.

Rodenticides Market Growth Opportunities by 2027

 The global rodenticides market is predicted to experience a 5.8% compound annual growth rate, leading to revenue surpassing USD 7.1 billion by 2027. This thriving industry, valued at USD 5.4 billion in 2022, is on a path of substantial growth. The rising concern for environmental pollution and public health hazards posed by vector-borne diseases is fueling the global demand for rodent control services. The growing population, coupled with the overexploitation and degradation of limited resources, is contributing to the degradation of the ecosystem, leading to global warming and temperature rise. These factors, in turn, are indirectly strengthening pests' ability to survive in different seasons, as evidenced by the migration of tropical pests away from the equatorial region due to global warming.

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increase in demand for rodent pest control services from the hospitality and tourism sectors

With the growing interest in recreational activities and aesthetics among consumers, the demand for maintenance services to control rodent pests and their possible damages are the key factors that are projected to drive market growth for rodenticides shortly. The entertainment sector, warehouses, construction companies, the food service segment, pharmaceutical companies, and the hospitality sector play an important role in encouraging the demand for pest control products & services, particularly for rodents. The economic losses due to the damages caused by pests, such as rodents, affect the tourism industry. The growth of the hospitality and entertainment sectors in urban areas due to the high purchasing power among consumers has driven the demand for rodent control products.

Rising awareness about sanitation and hygiene among people is driving the demand for rodenticides for residential purposes.

Rodents like rats are mostly found in kitchens due to food and food-related garbage. The increase in health and hygiene concerns among people and the affordability of pest control practices encourage them to adopt such practices for a rodent-free environment. Sewers, open areas, and waste dumps are highly susceptible to rat infestations. Thus, the application of rodenticides becomes essential. Rodenticides are used in and around buildings to control rat infestations. The presence of rodents can result in the transmission of zoonotic diseases, such as plague and leptospirosis. As a result, urban centers stock up on rodenticides to take immediate action on the transmission of diseases and prevent contagious diseases.

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Asia Pacific is expected to be the fastest-growing region with a CAGR of 6.5% during the forecast period.

The Asia Pacific market is completely driven by the country markets of China, India, Japan, Australia, Thailand, Indonesia, and a few other Asian countries. As the world’s largest and most populous region, Asia-Pacific is one of the key markets for rodenticides. Rodents are common pests present in agricultural fields. Annually, extensive volumes of agricultural produce are destroyed and contaminated by rodents. To meet the increase in demand for food products and to reduce the crop damage caused by rodents, the use of rodenticides has increased significantly in the region. The food retail, food manufacturing, pharmaceutical, hospitality, and residential sectors are expected to be major growth verticals in this market.Asia Pacific is expected to be the fastest-growing region during the forecast period due to several reasons. One of the major drivers of the market is the fact that agriculture is one of the most significant revenue-generating sectors in China and India. The growing population within the region is urging the farmers to provide a maximum yield to fulfill the demand of the increasing population. In such cases, the increasing crop damage and decreasing food production due to rodents are expected to leverage this market positively.

Key players operating in this market include BASF SE (Germany), Bayer AG (Germany), Syngenta AG (Switzerland), UPL Limited (India), Rollins, Inc. (US), Liphatech, Inc. (US), JT Eaton & Co., Inc. (US), Pelgar (UK), Bell Laboratories Inc. (US), and Abell Pest Control (Canada).

Modified Starch Market to Record Steady Growth by 2027

The global modified starch market is estimated to be valued at USD 13.7 billion in 2022. It is projected to reach USD 15.9 billion by 2027, recording a CAGR of 3.1% during the forecast period. Modified starches are manufactured from native starches. Various processing methods, such as physical, enzymatic, wet-and-dry chemical processes, drum drying, and extrusion, are used to produce different types of modified starch products. These processes are used to change the properties of native starch, such as its freeze-thaw stability, acid or alkali resistance, and shear stability, to meet industrial requirements. Modified starches are used for functions such as thickening, stabilizing, binding, and emulsification. 

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Restraints: High demand for gum Arabic

The application of starch derivatives is growing in the food & beverages sector. The global beverages sector is witnessing growth as an application of modified starches. However, the growth and preference of gum Arabic over modified starch act as a restraint for the growth of this market. Studies have shown that beverages stabilized with sources of gum Arabic attain better stability than those with modified starches. Apart from beverages, gum Arabic is also rising as a threat to modified starches in confectionery, where it is utilized to prevent sugar crystallization.

Opportunities: Untapped application of modified starch

Modified starch can also act as an excellent fermentation base for the bulk production of a wide variety of biotechnological products, such as organic acids, antibiotics, vitamins, and hormones. As a sole carbon source, providing energy for maintaining biological functions, starch-derived carbohydrates have a very high commercial value. Starch-derived glucose can be fermented to produce lactic acid, which may be polymerized for biodegradable films or bioplastics. Similarly, potato starch wastes may also be used as feedstock in fermentation reactions. Several polymers can be prepared using a variety of starch-based feedstock.

Hence, these untapped applications of starch need to be addressed. Expanding the commodity sources for extracting starch and combining modification processes adds a wider range of probable application fields to the existing exhaustive list. The technological potential and industrial utility of starch increase significantly by suitable modification.

Cassava is the fastest growing raw material segment in the global modified starch market

Cassava is one of the world’s major starch crops. It has a long tuberous starchy root that finds its place as an essential ingredient in many Latin American and Caribbean cuisines. Cassava is a widely grown tuber in most African and Asian countries, and it is also the most economical source of starch at a global level. It was, hence, prudent that in the wake of the forecasted shortage of corn and wheat as sources of starch, cassava (tapioca) starch would gain attention. Tapioca is the starch extracted from the storage roots of the cassava plant. The similarity of the functional properties of tapioca and corn starch has added to its advantages.

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Asia Pacific is the largest and fastest-growing region in the modified starch market and anticipated to maintain its dominance over the forecast period

The modified starch market in the Asia-Pacific region is the largest. The market is estimated to grow at a significant rate, owing to the rising demand in large economies such as China, India, Japan, and other Southeast Asian countries. The industrial organization and technology of starch processing are changing rapidly in the region. Unlike other regions where starch is processed almost entirely by large companies, in Asia Pacific, starch processing is done by small and medium-sized firms. Historically, native starch has been largely used for food products in the region. The industrial applications and technologies involved in starch processing are changing rapidly in the Asia Pacific countries. Modified starch is increasingly being demanded by many industries in the region. Various industries are incorporating modified starches in their manufacturing processes and products.

Probiotics in Animal Feed Market: Growth Opportunities and Recent Developments

The Probiotics in Animal Feed market is projected to reach USD 7.1 billion by 2028 from USD 4.6 billion by 2023, at a CAGR of 9.1% during the forecast period in terms of value. The demand for probiotics in animal feed is primarily driven by increase in production and demand of compound feed along with rising consumption of feed additives in emerging markets such as Asia Pacific and South America.

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The key players in this market include ADM (US), International Flavors & Fragrances Inc. (US), CHR. HANSEN HOLDING A/S (Denmark), Evonik Industries AG (Germany), Land O'Lakes (US), DSM (Netherlands), Ohly (Germany), Novozymes (Denmark), Alltech (US), Kemin Industries, Inc. (US), Provita Animal Health (UK), Orffa (Netherlands), Lesaffre (France), Lallemand Inc. (Canada). These players have adopted various growth strategies such as partnerships, agreements, collaborations, and new product launches to increase their global market presence.

ADM (US), ADM primarily produces food & feed ingredients. It is one of the key players in the agricultural processing and food ingredient sectors. The company is also involved in the trade, transport, storage, and processing of various grains and commodities. The company engages in the production, sale, and supply of specialty products, including emulsifiers, natural flavor ingredients, natural health and nutrition products, natural colors, flavor systems, proteins, polyols, soluble fiber, hydrocolloids, and other specialty food & feed ingredients. The company’s network spans across more than 190 countries around the world. The company has four business segments, namely Ag Services and Oilseeds, Carbohydrate Solutions, Nutrition, and Other Business. It provides probiotics through the Nutrition segment for animal consumption and other food applications. ADM’s manufacturing facilities are certified SEDEX, HACCP, by SGS North America, Organic by Ecocert ICO, and APHIS. In August 2018, ADM acquired Probiotics International Limited (PIL) (UK) that operates under its umbrella brand Protexin, which accounts for a deal of USD 235 million. It will be named ADM Protexin Limited, which produces research-based probiotics, including its Bio-Kult and Lepicol brands. Protexin also offers a variety of natural products and probiotic supplements for the veterinary, agriculture, and equine healthcare markets . This acquisition will help ADM in enhancing its product portfolio for probiotics in animal feed as it will offer supplements for equine livestock.

International Flavors & Fragrances Inc. (US), International Flavors & Fragrances Inc. (IFF) is one of the global multinational corporations that provide a range of products such as animal health solutions, extracts and flavorings, carob protein, cellulose gum, and cultures for food, among others. The company is active across various industries such as animal nutrition, antimicrobial fabric protection, biorefinery, brewing, dietary supplements, fabric & home care, food & beverage and hygiene, and odor control. The company operates through its major business segments: Nourish, Health and Biosciences, Scent, Pharma Solutions. It offers probiotics for animal feed under its Health & Biosciences Segment. Since its inception, the company has a strong focus on research and development and invests a significant amount in R&D activities every year. Through its numerous subsidiaries, IFF has significantly marked its presence in more than 200 countries. In February 2021, International Flavors & Fragrances Inc. merged with DuPont’s Nutrition & Biosciences business to deliver consumer-oriented products for food & beverage, personal care and health & wellness markets. This strategic initiative was undertaken to strengthen the product portfolios and R&D capabilities in probiotics ingredient and multiple other segments such as enzymes, culture, soy proteins, nutrition, scent among others.

Chr. Hansen Holding A/S (Denmark), Chr. Hansen Holding A/S is a global, differentiated bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical and agricultural industries. It is serving around its customers for almost 150 years to enable sustainable agriculture, better food and healthier living. It offers products and solutions through two segments namely Food Cultures & Enzymes and Health & Nutrition. It offers probiotics for animal feed derived from plants through Health & Nutrition segment. Chr. Hansen Holding A/S has a regional sales presence in all the world's major markets, including North America, Latin America, Asia Pacific, Europe, Middle East, and Africa, giving the company a strong foothold in the global markets. In May 2021, company launched a product Bovacillus. The product is launched in the Argentinian market, which is a new solution to support dairy and beef cattle health & performance. This will enhance the company’s product portfolio for probiotics in animal feed and the customer reach in the region as well.

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Countries such as China, India, Japan, Australia & New Zealand, and rest of the Asia Pacific have been considered in this study. Some of the factors for the high demand of the market in Asia Pacific region includes growing population, rise in disposable incomes, and rapid urbanization. Increasing demand for meat and animal products among the growing population of the Asia Pacific region along with the rising affluence in the region resulted in high consumption of meat products. This has also resulted in intensified livestock production for meat, which in turn drives the need for improved animal health and performance.

Fats and Oils Market Growth Opportunities by 2026

 The fats and oils market is estimated to be USD 236.7 billion in 2021; it is projected to grow at a CAGR of 3.8% to reach USD 285.2 billion by 2026. The global fats & oils market is being highly driven by robust demand dynamics emanating from both the food and non-food application sectors. Although country-level dietary guidelines advocate a switch to unsaturated fats, the sales of butter and all the other vegetable oils are witnessing decent growth because they are perceived as being more natural. The fats & oils market is also driven by non-food utilization, particularly for the production of oleochemicals and biofuels. Mandatory blending targets for biofuels have encouraged the uptake of these commercially important lipid compounds in Western markets, which were soon adopted by developing countries.

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The fats and oils market has been growing steadily in developed countries and emerging countries, such as the US, Brazil, China, India, and Indonesia. Among vegetable oils, palm oil remained the most popular with around 30% of the market share. Animal fats find major applications in pet food, animal feed, and other industrial purposes such as biodiesel and oleochemicals. Oils of plant origin have been predominantly used for food-based applications. The fats & oils market, by form, is estimated to be dominated by the liquid segment in 2021.

On the basis of type, the vegetable oil is projected to be the largest segment during the forecast period.

The health benefits, easy availability, and cost-effectiveness are some of the factors that has driven the market for fats & oils. Within vegetable oils, the palm oil segment has dominated the market, as it is easily available and is relatively more stable than other oils.

On the basis of source, vegetable segment is expected to retain its dominance in the foreseeable period.

Vegetable oils from sunflower, rapeseed, soybean, palm, cottonseed, and coconut are highly used in food applications, which has driven the market for vegetable-sourced oils. The qualities associated with vegetable oils, such as low-fat, low-cholesterol, and low-calories content, are registering growth in the segment. Also, the variety of uses of vegetable oils in food as well as other industries such as pleo-chemical industries, animal feed, and the energy & biomass industries has also driven the market for vegetable oils.

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Asia Pacific is projected to be the fastest-growing region in the fats and oils market.

The Asia-Pacific region is projected to be the fastest-growing market for fats & oils. The region is home to two important palm and palm kernel oil-producing countries, namely Malaysia and Indonesia, and two major fats and oil-consuming countries, namely China and India. This is one of the significant factors that ensures that the Asia-Pacific region is the largest as well as the fastest-growing market in fats & oils.

Key Market Players:

Key global market players offer wide range of fats & oils products in the retail chain. While prominent palm oil producing companies are present in Asia pacific region. The soybean oil producing companies capture the North American market. The key companies in the fats and oils market are Associated British Foods PLC (UK), Archer Daniels Midland Company (US), Bunge Limited (US), Wilmar International Limited (Singapore). Various strategies, such as expansions, mergers & acquisitions, and new product launches, were adopted by the key companies to remain competitive in the fats and oils market.