Market Research Reports - Ken Research G8 Nations Exploring New Prospects Market Outlook

G8 Nations Exploring New Prospects Market Outlook: Ken Research
The G8 countries are among the most industrialized nations. There strong progress extends to
their food and beverage industry as well which is made up of many segments like groceries, oils
and fats, additives, packaged foods, canned foods, energy drinks and soft drinks among others.
According to the study, ‘Oils & Fats Global Group Of Eight (G8) Industry Guide 2013-2022’,
these countries immensely contribute to this already fledgling sector that is estimated to be
worth trillions of US dollars. Contributing to this industry are the markets for specialty fats and
oils which were recently valued at billions of US dollars with the oil industries worth being
several times that of specialty fats.
Bakery products have been reported to account for the largest market share in the specialty
fats sector. High income countries such as UK, US, Canada and Germany have experienced a
growth in the production and consumption of ultra-processed food mainly bakery products
such as breads, pastries, cakes and cookies. Creaming fats and specialty oils such as cake oils
are increasingly used to enhance the product performance and ensure higher consumer
satisfaction.
Despite the progress made, the G8 countries are not the absolute leaders in the oil and fats
market. World consumption of oils and fats is driven mainly by Asia which accounts for half of
the world total. China and India together make up one-third of the world total. Chinese
demand, which is the greatest globally, is mainly for soya bean oil, followed by canola and palm
oils. India follows next and is a major consumer of canola oils as well as palm oils and butter.
From the G8 nations only the US is comparable to India and China as it is third, after the two
giants with a one-tenth consumption of the world’s fats and oils mainly in food uses such as
salads and cooking oils. Europe as a whole is responsible for a significant one-fifth part of the
demand for the world’s oils and fats but the end use pattern has been found to vary from
country to country. For example, France continues to consume fats and oils primarily for food
use while Germany’s growth is driven by biodiesel use.
Even in the production sector, Asia appears far ahead of the G8 nations with Indonesia being
the world’s largest producer with more than one-fifth production share and harboring more
than half of the global production of palm oil. Indonesia is followed by China, Malaysia and
India as global leaders. All this has led to Asia becoming the largest global producer of oils and
fats accounting for more than half of the global produce.
The leading companies from G8 nations that make a global impact are mainly from the United
States and Japan. The companies from the former nation are Cargill and Bunge while those
from the latter one are Fuji Oil and The Nisshin Oillio Group.