Market Trends of Asia-Pacific Fats and Oil Industry
Rise in the Consumption of Bakery, Confectionery, and Processed Foods
The key factor driving the market studied is the increased consumption of processed foods, confectionery, and ready-to-drink beverages. Fats and oils are very important raw materials and functional ingredients for several food products, such as confectionery, bakery, ice creams, emulsions, sauces, and shortenings, among others. In addition, the development of new products, using vegetable oils, can prove beneficial for companies to expand the fats and oils application across the food industry. Evolving consumer preferences for bakery and processed foods, the use of automation, food safety regulations, and foreign direct investment are stirring up the food industry.
Asia-Pacific holds the largest share in the oil and fats sector in terms of Production
Asia-Pacific occupies the largest share in the oil and fats sector in terms of production, as well as consumption. The highest production is that of palm oil and a majority of it is produced in Indonesia and Malaysia. Asia-Pacific has emerged as a dominant market for fish oil consumption, owing to the huge concentration of the aquaculture industry in China, India, Vietnam, and Indonesia. Moreover, the rising health concerns among consumers have led to the usage of fish oil as nutritional supplement in developed countries, such as Japan and Australia.
