Middle East & Africa Edible Oils and Fats Market Forecast to 2030
Middle East & Africa Edible Oils and Fats Market Forecast to 2030 – Regional Analysis – By Type [Fats (Butter, Margarine, Palm Oil Based Shortening, Vegetable Oil Based Shortening, and Others) and Oils (Soybean Oil, Sunflower Oil, Palm Oil, Canola Oil/Rapeseed Oil, and Others)], and Application [Food and Beverages (Bakery and Confectionery, Dairy and Frozen Desserts, RTE and RTC Meals, Snacks, and Others), Animal Nutrition, and Pharmaceuticals and Nutraceuticals]
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Description
Growing Demand for Plant-based Shortenings and Low-fat Oils Drive Middle East & Africa Edible Oils and Fats Market
Consumers consider plant-based products healthier than conventional products. Rising health consciousness among consumers propels the demand for plant-based and low-fat products. Thus, manufacturers develop plant-based shortenings and low-fat oils to cater to the rising demand. Plant-based shortenings are non-hydrogenated and do not contain cholesterol and trans-fat. Thus, it is considered a healthier alternative to conventional shortenings. Moreover, the increasing prevalence of cardiovascular diseases, obesity, and diabetes over the years is expected to boost the demand for low-fat products such as low-fat oils among various industries, including bakery & confectioneries, dairy & frozen desserts, and snacking. Rising awareness regarding animal protection and environmental sustainability creates the popularity of plant-based products. As per the data published by “Veganuary” (a nonprofit organization encouraging people to go vegan for the whole month of January) in 2021, ~5.8 million people registered for the “Veganuary Campaign.” Thus, owing to the rising inclination toward veganism, growing demand for plant-based shortening and low-fat oils among various end-use industries is expected to create lucrative opportunities in the Middle East & Africa edible oils and fats market during the forecast period.
Middle East & Africa Edible Oils and Fats Market Overview
The Middle East & Africa edible oils and fats market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The burgeoning population across the region propels the demand for edible oils and fats across various applications such as RTE and RTC meals, dairy and frozen desserts, and snacks. According to the US Soybean Export Council (USSEC), countries such as Egypt, Tunisia, Morocco, Saudi Arabia, and Israel imported over 150,000 metric tons of soybean oil from the US in 2022. The rising consumer awareness about health and wellness has shifted preferences toward healthier oil options such as canola oil, low fat-soybean, and sunflower oil, driving growth in these segments. Moreover, the food & beverage industry’s constant innovation and the growing trend of convenience foods have created a robust demand for edible oils and fats, especially in RTE and RTC meals, snacks, and bakery and confectionery products. Another significant factor fueling the Middle East & Africa edible oils and fats market growth in the Middle East & Africa is the economic development and urbanization in the region. As disposable income is on the rise, consumers are willing to spend on premium and high-quality edible oils and fats. This trend is particularly notable in the bakery and confectionery segment, where high-quality fats such as butter and margarine are essential ingredients. Additionally, the awareness of the health benefits associated with specific oils, such as the cardiovascular advantages of using olive oil, has led to an upsurge in its consumption. The pharmaceuticals & nutraceuticals sector extensively incorporates specialized oils and fats into their products due to their nutritional benefits and functional properties, impacting the overall market positively.
Middle East & Africa Edible Oils and Fats Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Edible Oils and Fats Market Segmentation
The Middle East & Africa edible oils and fats market is segmented based on type, application, and country.
Based on type, the Middle East & Africa edible oils and fats market is bifurcated into oils and fats. The oils segment held a larger share in 2023 . The fats segment is further subsegmented into butter, margarine, palm oil based shortening, vegetable oil based shortening, and others. The oils segment is further subsegmented into soybean oil, sunflower oil, palm oil, canola oil/rapeseed oil, and others.
By application, the Middle East & Africa edible oils and fats market is segmented into food and beverages, animal nutrition, pharmaceuticals and nutraceuticals . The food and beverages segment held the largest share in 2023. The food and beverages segment is further subsegmented into bakery and confectionery, Dairy and frozen desserts, RTE and RTC meals, snacks, and others.
Based on country, the Middle East & Africa edible oils and fats market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa edible oils and fats market in 2023.
AAK AB, Archer-Daniels-Midland Co, Bunge Ltd, Cargill Inc, ConnOils LLC, Kao Corp, Louis Dreyfus Co BV, and Olam Group Ltd are some of the leading companies operating in the Middle East & Africa edible oils and fats market.
Summary Info
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According to the Research Team’ research, the Middle East & Africa edible oils and fats market was valued at US$ 3,013.48 million in 2023 and is expected to reach US$ 4,484.62 million by 2030, registering a CAGR of 5.8% from 2023 to 2030. Strategic development initiatives by manufacturers and growing demand for plant-based shortenings and low-fat oils are among the critical factors attributed to the Middle East & Africa edible oils and fats market expansion.
Manufacturers of edible fats and oils invest significantly in the expansion of business and production capacity to serve their customer base better and meet their consumer requirements. In 2022, IHC Food Holding, a division of International Holding Company (IHC), acquired 75% of Abu Dhabi Vegetable Oil Company (ADVOC). Further, in 2021, Edible Oil Company, LLC (EOCD), a premier multi-seed crushing facility in the Middle East, was acquired by Al Ghurair Investment from Dubai Investments Industries (DUI). Thus, the business expansion strategies of prominent players drive the edible oils and fats market growth. Thus, the business expansion strategies of prominent players drive the Middle East & Africa edible oils and fats market growth.
On the contrary, increasing prices of edible oils hampers the growth of Middle East & Africa edible oils and fats market.
Based on type, the Middle East & Africa edible oils and fats market is bifurcated into oils and fats. The oils segment held 69.9% share of the Middle East & Africa edible oils and fats market in 2023, amassing US$ 2,107.05 million. It is projected to garner US$ 3,183.21 million by 2030 to expand at 6.1% CAGR during 2023–2030. The fats segment is further subsegmented into butter, margarine, palm oil based shortening, vegetable oil based shortening, and others. The oils segment is further subsegmented into soybean oil, sunflower oil, palm oil, canola oil/rapeseed oil, and others.
By application, the Middle East & Africa edible oils and fats market is segmented into food and beverages, animal nutrition, pharmaceuticals and nutraceuticals. The food and beverages segment held 73.1% share of the Middle East & Africa edible oils and fats market in 2023, amassing US$ 2,203.78 million. It is projected to garner US$ 3,295.06 million by 2030 to expand at 5.9% CAGR during 2023–2030.
Based on country, the Middle East & Africa edible oils and fats market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. The Rest of Middle East & Africa held 48.7% share of Middle East & Africa edible oils and fats market in 2023, amassing US$ 1,466.75 million. It is projected to garner US$ 2,048.94 million by 2030 to expand at 4.9% CAGR during 2023–2030.
Key players operating in the Middle East & Africa edible oils and fats market are AAK AB, Archer-Daniels-Midland Co, Bunge Ltd, Cargill Inc, ConnOils LLC, Kao Corp, Louis Dreyfus Co BV, and Olam Group Ltd, among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Middle East & Africa edible oils and fats market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the edible oils and fats market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Limitations and Assumptions
4. Middle East & Africa Edible Oils and Fats Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturing Process
4.3.3 Distributors or Suppliers
4.3.4 End Users
5. Middle East & Africa Edible Oils and Fats Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Edible Oils and Fats from Food & Beverage Processing Industry
5.1.2 Strategic Development Initiatives by Manufacturers
5.2 Market Restraints
5.2.1 Increasing Prices of Edible Oils
5.3 Market Opportunity
5.3.1 Growing Demand for Plant-based Shortenings and Low-fat Oils
5.4 Future Trend
5.4.1 Adoption of Microencapsulation Technology
5.5 Impact Analysis
6. Edible Oils and Fats Market – Middle East & Africa Market Analysis
6.1 Middle East & Africa Edible Oils and Fats Market Revenue (US$ Million)
6.2 Middle East & Africa Edible Oils and Fats Market Forecast and Analysis
7. Middle East & Africa Edible Oils and Fats Market Analysis – Type
7.1 Oils
7.1.1 Overview
7.1.2 Oils Market Revenue and Forecast to 2030 (US$ Million)
7.1.3 Soybean Oil
7.1.3.1 Overview
7.1.3.2 Soybean Oil Market Revenue and Forecast to 2030 (US$ Million)
7.1.4 Sunflower Oil
7.1.4.1 Overview
7.1.4.2 Sunflower Oil Market Revenue and Forecast to 2030 (US$ Million)
7.1.5 Palm Oil
7.1.5.1 Overview
7.1.5.2 Palm Oil Market Revenue and Forecast to 2030 (US$ Million)
7.1.6 Canola Oil/Rapeseed Oil
7.1.6.1 Overview
7.1.6.2 Canola Oil/Rapeseed Oil Market Revenue and Forecast to 2030 (US$ Million)
7.1.7 Others
7.1.7.1 Overview
7.1.7.2 Others Market Revenue and Forecast to 2030 (US$ Million)
7.2 Fats
7.2.1 Overview
7.2.2 Fats Market Revenue and Forecast to 2030 (US$ Million)
7.2.3 Butter
7.2.3.1 Overview
7.2.3.2 Butter Market Revenue and Forecast to 2030 (US$ Million)
7.2.4 Margarine
7.2.4.1 Overview
7.2.4.2 Margarine Market Revenue and Forecast to 2030 (US$ Million)
7.2.5 Palm Oil Based Shortening
7.2.5.1 Overview
7.2.5.2 Palm Oil Based Shortening Market Revenue and Forecast to 2030 (US$ Million)
7.2.6 Vegetable Oil Based Shortening
7.2.6.1 Overview
7.2.6.2 Vegetable Oil Based Shortening Market Revenue and Forecast to 2030 (US$ Million)
7.2.7 Others
7.2.7.1 Overview
7.2.7.2 Others Market Revenue and Forecast to 2030 (US$ Million)
8. Middle East & Africa Edible Oils and Fats Market Analysis – Application
8.1 Food and Beverages
8.1.1 Overview
8.1.2 Food and Beverages Market Revenue, and Forecast to 2030 (US$ Million)
8.1.3 Bakery and Confectionery
8.1.3.1 Overview
8.1.3.2 Bakery and Confectionery Market Revenue, and Forecast to 2030 (US$ Million)
8.1.4 Dairy and Frozen Desserts
8.1.4.1 Overview
8.1.4.2 Dairy and Frozen Desserts Market Revenue, and Forecast to 2030 (US$ Million)
8.1.5 RTE and RTC Meals
8.1.5.1 Overview
8.1.5.2 RTE and RTC Meals Market Revenue, and Forecast to 2030 (US$ Million)
8.1.6 Snacks
8.1.6.1 Overview
8.1.6.2 Snacks Market Revenue, and Forecast to 2030 (US$ Million)
8.1.7 Others
8.1.7.1 Overview
8.1.7.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Animal Nutrition
8.2.1 Overview
8.2.2 Animal Nutrition Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Pharmaceuticals and Nutraceuticals
8.3.1 Overview
8.3.2 Pharmaceuticals and Nutraceuticals Market Revenue and Forecast to 2030 (US$ Million)
9. Middle East & Africa Edible Oils and Fats Market – Country Analysis
9.1 Middle East & Africa Edible Oils and Fats Market – Country Analysis
9.1.1 Middle East & Africa Edible Oils and Fats Market Revenue and Forecasts and Analysis – By Countries
9.1.1.1 Middle East & Africa Edible Oils and Fats Market Breakdown by Country
9.1.1.2 Saudi Arabia Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.2.1 Saudi Arabia Edible Oils and Fats Market Breakdown by Type
9.1.1.2.2 Saudi Arabia Edible Oils and Fats Market Breakdown by Application
9.1.1.3 UAE Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.3.1 UAE Edible Oils and Fats Market Breakdown by Type
9.1.1.3.2 UAE Edible Oils and Fats Market Breakdown by Application
9.1.1.4 South Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.4.1 South Africa Edible Oils and Fats Market Breakdown by Type
9.1.1.4.2 South Africa Edible Oils and Fats Market Breakdown by Application
9.1.1.5 Rest of Middle East & Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.5.1 Rest of Middle East & Africa Edible Oils and Fats Market Breakdown by Type
9.1.1.5.2 Rest of Middle East & Africa Edible Oils and Fats Market Breakdown by Application
10. Competitive Landscape
10.1 Company Positioning & Concentration
10.2 Heat Map Analysis by Key Players
11. Company Profiles
11.1 Bunge Ltd
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Archer-Daniels-Midland Co
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Kao Corp
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 AAK AB
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Cargill Inc
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Olam Group Ltd
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 ConnOils LLC
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Louis Dreyfus Co BV
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
12. Appendix
LIST OF TABLES
Table 1. Middle East & Africa Edible Oils and Fats Market Segmentation
Table 2. Middle East & Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Middle East & Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 4. Middle East & Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 5. Saudi Arabia Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 6. Saudi Arabia Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 7. UAE Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 8. UAE Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 9. South Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 10. South Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 11. Rest of Middle East & Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 12. Rest of Middle East & Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 13. Company Positioning & Concentration
LIST OF FIGURES
Figure 1. Middle East & Africa Edible Oils and Fats Market Segmentation, By Country
Figure 2. Middle East & Africa Edible Oils and Fats Market – Porter’s Analysis
Figure 3. Ecosystem: Middle East & Africa Edible Oils and Fats Market
Figure 4. Market Dynamics: Middle East & Africa Edible Oils and Fats Market
Figure 5. Middle East & Africa Edible Oils and Fats Market Impact Analysis of Drivers and Restraints
Figure 6. Middle East & Africa Edible Oils and Fats Market Revenue (US$ Million), 2020 – 2030
Figure 7. Middle East & Africa Edible Oils and Fats Market Share (%) – Type, 2022 and 2030
Figure 8. Oils Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Soybean Oil Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Sunflower Oil Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Palm Oil Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Canola Oil/Rapeseed Oil Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Fats Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Butter Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Margarine Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Palm Oil Based Shortening Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Vegetable Oil Based Shortening Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Middle East & Africa Edible Oils and Fats Market Share (%) -Application, 2022 and 2030
Figure 21. Food and Beverages Market Revenue and Forecasts to 2030 (US$ Million)
Figure 22. Bakery and Confectionery Market Revenue and Forecasts to 2030 (US$ Million)
Figure 23. Dairy and Frozen Desserts Market Revenue and Forecasts to 2030 (US$ Million)
Figure 24. RTE and RTC Meals Market Revenue and Forecasts to 2030 (US$ Million)
Figure 25. Snacks Market Revenue and Forecasts to 2030 (US$ Million)
Figure 26. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 27. Animal Nutrition Market Revenue and Forecasts to 2030 (US$ Million)
Figure 28. Pharmaceuticals and Nutraceuticals Market Revenue and Forecasts to 2030 (US$ Million)
Figure 29. Middle East & Africa Edible Oils and Fats Market Breakdown by Key Countries – Revenue (2022) (US$ Million)
Figure 30. Middle East & Africa Edible Oils and Fats Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 31. Saudi Arabia Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
Figure 32. UAE Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
Figure 33. South Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
Figure 34. Rest of Middle East & Africa Edible Oils and Fats Market Revenue and Forecasts to 2030 (US$ Million)
Figure 35. Heat Map Analysis by Key Players
The List of Companies – Middle East & Africa Edible Oils and Fats Market
1. AAK AB
2. Archer-Daniels-Midland Co
3. Bunge Ltd
4. Cargill Inc
5. ConnOils LLC
6. Kao Corp
7. Louis Dreyfus Co BV
8. Olam Group Ltd
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