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Jul 19, 2021 (Market Insight Reports) —
Selbyville, Delaware, According to a research report titled ‘Global Fortified Edible Oil Market Size study, by Product Type (Palm Oil, Rice Bran Oil, Sunflower Oil and Others), by Micronutrient (Vitamin A, Vitamin D, Vitamin E and Others) and Regional Forecasts 2021-2027′, available with Market Study report LLC, global fortified edible oil market was worth USD 11.47 billion in 2020 and is projected to attain a valuation of USD 14.7 billion by the end of the forecast period 2021-2027, registering a CAGR of over 3.61% throughout.

Report findings claim that rising prevalence of nutritional deficiencies such as vitamin D deficiency is the key factors driving worldwide fortified edible oil industry growth. In fact, the Mercy Medical Center claims that around 42% of the U.S. population was vitamin D deficient in 2018.

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Furthermore, rising health awareness among consumers and increasing incidence of diseases in underdeveloped countries such as Pakistan and Bangladesh are adding substantial traction to overall market demand. Besides, increasing favorable government initiatives and rising disposable income levels are enhancing the industry outlook.

For the record, fortified edible oil is primarily used to artificially increase available essential micronutrients in order to provide better quality nutritional oils.

Elaborating on the negatives, higher price of fortified edible oil as compared to traditional variants, and stringent political and legal regulations may hamper industry development in the upcoming years.

Major contenders in the industry sphere are Lam Soon Edible Oils Sdn. Bhd. (Lam Soon Group), Liberty Oil Mills Ltd., Ruchi Soya Industries Ltd., Nestle S.A., Cargill Inc., BASF SE, Conagra Brands Inc., Bunge Ltd., Archer-Daniels-Midland Company, and Adani Group.

From a regional frame of reference, global fortified edible oil market report elaborates on recent trends and forecasts in Asia Pacific (China, Japan, India, Australia, South Korea), Europe (U.K., Italy, Germany, Spain, France), Latin America (Mexico, Brazil), and North America (U.S., Canada).

Analysts cite that Asia Pacific industry captured a majority market share in the recent past and is anticipated to record remarkable growth during the forecast period 2021-2027. This can be attributed to rising health awareness, accelerated population growth, increased demand and consumption of edible oils, and improving living standards across the region.

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