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(MoneyNewsWire.Net, April 12, 2018 ) The Europe Fats and Oils Market was worth USD 29.99 billion in 2016 and estimated to be growing at a CAGR of 4.01%, to reach USD 36.51 billion by 2021. Fats are derivatives of fatty acids and glycerol. As such most fats are glycerides, triglycerides to be more specific since there are three glycerol groups present. The properties shown by any fat molecule depends on the particular fatty acids that constitute it. Oils are simply a subset of fats, consisting of fats that exist in liquid state at room temperature.
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Fats perform a multitude functions in the human body, they are the sources of essential fatty acids, which is an important part of our diet. They play a vital role in maintaining healthy hair and skin, insulates body organs against shock and maintain body temperature as well. Vitamins such as A, D, E and K are fat-soluble and as a result their absorption by the body depends on fats as well. They also serve as a buffer against a host of diseases.
The major driver of the Europe fats and oils market is the rising disposable incomes, especially in emerging markets. The growing demand for fast food and convenience food is also expected to further bolster the Europe fats and oils market. The increase in population in the region, leading to an increased food consumption, and increased demand for high quality edible oil are other factors promoting the growth of the market. As for the restraints of the market, the increasing health concerns such as heart related diseases and obesity due to the uncontrolled intake of fats and oils as well as the stringent government regulations regarding food safety are the major contributors.
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The Europe Fats and Oils market is broadly classified into Palm, Sunflower, Olive, Soybean, Rapeseed and others based on product type. Based on application, they are classified as Food, Industrial, Personal Care, Animal Feed and Pharmaceutical. They are further classified into butter, ghee, lard and suet on the basis of animal fats. Based on form they are classified into solid and liquid and based on source they are classified into plants and animals. Based on geography, the Europe market is divided into Italy, Germany, UK, Spain and France. The market share of Europe in this market is comparatively low as opposed to other sectors mainly due to the changing lifestyles in the region. The people are becoming more health conscious and as a result the CAGR for the region is less than the global average inspite of the region having the third highest market share.
Some of the major companies dominating the market, by their products and services include Cargill, Archer Daniels Midland Company, Bunge Limited, International Foodstuff Company Holdings Limited, Wilmar International, Associated British Foods, Ajinomoto, ConAgra Foods, Unilever PLC and United Plantations Berhad.
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