Fats and oils are group of organic substances that are integral part of human diet as well are widely used for range of industrial purposes. Fats are usually solid in nature and oils are liquid at ordinary room temperatures. Chemically fats and oils are either simple or mixed glyceryl esters of various organic acids that belong to the fatty acid series. Fats and oils are derived either from plants or animal sources. Fats belong to the wide group of compounds which are generally soluble in organic solvents however, they are insoluble in water. Chemically, fats are trimesters of glycerols, triglycerides and other fatty acids. Fats can be either solid or liquid depending on their structure and composition. Oils are referred to various fats that are liquid at room temperature. Fats belong to the category of lipids however; they are easily distinguished from other lipids by their chemical and physical properties. Lipids form an important part of the diet of most of the heterotrophs which mainly includes humans. Fats are usually broken down by the body by enzymes called as lipase which is produced in the pancreas.
Fats and oils are widely used throughout the world for both food applications and several industrial uses. Fats and oils are usually consumed in the butter, cooking oils, salad, animal feeds, fatty acids, biodiesel, paints, personal care products, greases and lubricants. Fats and oils are mainly consumed in various food applications. Thus, growing population coupled with changing lifestyles has boosted the overall growth in the consumption of junk foods that in-turn uses fats and oils in large quantities. There has been a continuous increase in the market share of industrial applications as far as consumption of fats and oils are concerned. Biodiesel is widely used in various industrial applications. Growing industries has boosted the overall demand for lubricants especially in the machineries. Thus, growing demand for lubricants is expected to augment the overall growth of fats and oils market. However, increasing consumer preference towards low fat diet is expected to hamper the overall growth of the fats and oil market. The market for fats and oil is also affected with the growing health consciousness among the individuals. China is the major consumer as well as producer of fats ad oil market. Owing to the presence of large number of industries there is a huge demand for fats and oils especially as lubricants in the market. Rest of Asia Pacific is the next largest consumer of fats and oils. Countries such as India are among the major consumers of the fats and oils market. Rest of Asia Pacific is followed by Europe which is the major consumer of fats and oils market. Presence of large number of automobile manufacturers has boosted the demand for lubricants which in turn has augmented the overall market growth. Thus, the growing automobile industry is expected to augment overall demand for fats and oil market. Rest of the world and North America are expected to exhibit sluggish growth in the overall demand for fats and oils market.
IFFCO FATS & OILS, AYMAR FATS - OILS & FOOD INC., TAKEMOTO OIL & FATS Co. Ltd., Archer Daniels Midland Company and The Seydel Companies Inc. are some of the participants of the fats and oils market.
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