At 5.8% CAGR, the Middle East & Africa Edible Oils and Fats Market is Projected to be Worth US$ 4,484.62 Million by 2030, Says Business Market Insights

According to Business Market Insights' 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.

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