Fats & Oils Market Projected to Grow to USD 323.7 Billion by 2029

The keto diet, which prioritizes high-fat, low-carbohydrate consumption to achieve ketosis, has notably increased the demand for fats such as coconut oil, MCT oil, and butter. These oils are integral to the keto diet, providing essential fats and contributing to flavor and preparation methods.

Additionally, versatile products like butter and margarine are experiencing increased demand due to their broad applications in cooking, baking, and spreads, along with growing bakery and confectionery markets. Plant-based oils like olive oil, canola oil, and sunflower oil are favored for their lower saturated fat content and potential health benefits, including improved heart health and reduced cholesterol levels.

In the Asia Pacific region, China remains a major player in the fats and oils market. Despite a 5.5% drop in total oils and fats consumption in 2022, China continues to be a leading consumer of cooking oils, with a preference for soybean oil and emerging trends towards Western oils like olive oil and butter. Health concerns and diverse dietary habits further drive China's significant consumption patterns, reinforcing its dominant position in the regional market.