Global Infant Formula Oil And Fat Ingredients Market Is 1291.4 K Tonnes In 2019
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The human infant was designed to consume a high-fat diet. Roughly 50% of the calories in breast milk come from fat. All baby formulas provide roughly that much fat as well. Fat consists of smaller components known as fatty acids. Baby formulas all contain a blend of different fats and oils to provide the infant with a fatty acid composition similar to that of breast milk. The most common oils could be seen in baby formula ingredients are: palm olein oil, soy oil, coconut oil, high oleic sunflower oil and high oleic safflower oil, in various combinations.
Global sales of Infant Formula Oil and Fat Ingredients has been increasing during the past three years with a CAGR of 2.46%. Compared to 2017, Infant Formula Oil and Fat Ingredients market managed to increase revenue by 0.80 percent to $ 5287.23 million worldwide in 2018 from $ 5245.42 million in 2017. Overall, the Infant Formula Oil and Fat Ingredients market performance is positive, despite the historical fluctuations and weak economic environment.
The penetration of Infant Formula Oil and Fat Ingredients has risen over the past few years in applications for baby formula. Furthermore, in developing economies such as China, the impact of these factors is expected to be high owing to increased demand across the industries. In the near future, the global Infant Formula Oil and Fat Ingredients market is expected to reach 1449.6 K Tonnes by 2025 from 1291.4 K Tonnes in 2019, growing at a CAGR of 1.94% from 2019 to 2025.
Infant Formula Oil and Fat Ingredients market is relatively fragmented with fierce competition. AAK is the world leading player in global Infant Formula Oil and Fat Ingredients market with the market share of 16.96% in 2018, in terms of revenue, followed by Bunge Loders Croklaan, Advanced Lipids, Wilmar(Yihai Kerry), GrainCorp Foods, Danisco/DuPont, Fuji Oil Holdings and Stepan International. The top 8 listed companies accounted for 47% of the revenue market share in 2018.
Asia Pacific is the largest downstream regions, occupied about 51% of market share, in terms of volume. While Asia Pacific market will continue to be at the forefront of global demand with market share of 65.76% in 2023, with the market in the region expanding at a CAGR of 2.61% through 2023.