REPORT SCOPE
INTRODUCTION
STUDY GOALS AND OBJECTIVES
BCC conducted this study to assess recent historical trends in the production and consumption of fats and oils and to develop market projections through 2016. The primary geographical focus of the study is the United States. However, given the global role of some of the fats and oils, the study covers relevant international aspects of the global production and end use of these commodities. The report details the production and applications of fats and oils in various foods and industrial products. Additionally, key factors that influenced past trends and are projected to contribute to future developments in the industry are identified. The report represents a resource for exploring the continuing importance of fats and oils in the U.S. and global economies.
REASONS FOR DOING THE STUDY
The average person has some knowledge about fats and oils and the implications of dietary fat consumption. There is also an abundance, and sometimes shifting, expert opinion on these issues. This study takes an unbiased look at the data in order to focus attention on the fundamental information about what fats are currently being consumed, how much of each, and where we might expect to see shifts in consumption trends over the foreseeable future and by how much. The analysis of consumption covers both food (edible) and industrial (inedible) uses. The information on industrial uses is beneficial in its own right, but it also serves to “balance” the (sometimes sensationalized) information on edible fat consumption.
SCOPE OF REPORT
This report is a complete update of the BCC report on oils and fats published in 2004. The current report covers recent developments in the U.S. and global markets for commercial-grade animal fats and major vegetable oils. The report includes a detailed examination of each type of fat and oil, its production, apparent consumption in foods and industrial products, and related international aspects. Also documented are the technological issues relating to the manufacture of the products, and recent patents awarded for innovations in the industry. For the purpose of the report, the global market comprises the following regions: Asia-Pacific, European Union (the EU), North America, and the rest of the world (ROW). The report includes profiles of major U.S. producers of fats and oils.
INTENDED AUDIENCE
In a fast-paced industrial society, it is easy to forget where key, day-to-day essentials originate. Fats and oils represent one of the unique segments of any economy because it depicts the connection between raw material sourcing and manufacturing, in particular, the connection between farm (agriculture) and factory. This report has put together, in one place, current information on U.S. and international production of fats and oils and their applications in various food and industrial manufacturing. Market projections developed in the study provide a comprehensive context for assessing areas of growth and potential opportunities. The findings of this report should be of interest to producers and manufacturers who are already invested in the fats and oils industry, as well as to anyone interested in understanding the fundamental issues relating to the production and end uses of fats and oils.
METHODOLOGY AND INFORMATION SOURCES
This report reflects the result of extensive research covering primary and secondary information sources. BCC surveyed databases from the U.S. government and, international organizations, as well as publications by industry and relevant professional associations to create a quantitative and qualitative analytical framework for the findings presented in this report. Communications with various experts on oilseeds, related products, and global trade provided supplemental information on various aspects of the study.
ANALYST'S CREDENTIALS
Rachel Agheyisi works as a freelance research analyst for BCC Research. Her professional experience includes more than 20 years in academia and business consulting. She holds a Ph.D. in Economics from McMaster University in Canada.
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DISCLAIMER
The information developed in this report is intended to be as reliable as possible at the time of publication and of a professional nature. This information does not constitute managerial, legal, or accounting advice; nor should it serve as a corporate policy guide, laboratory manual, or an endorsement of any product, as much of the information is of a speculative nature. The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or from its use.
Source: BCC Research
