ASIA PACIFIC
With growing middle-class incomes in countries like India and China, there is an increased demand for higher-quality edible oils, contributing to market expansion and product diversification.
* As urbanization increases, there is greater adoption of Western diets and convenience foods, boosting the consumption of edible oils in the region, especially in fast food and ready-to-eat meals.
* Collaborations and the introduction of new products are expected to present profitable prospects for industry participants in the next five years.
* Asia Pacific's expanding population fuels the demand for edible oils, particularly in emerging markets like India and China, where consumer spending on processed foods is increasing.
* Government initiatives and subsidies in several Asia Pacific countries are supporting edible oil production and importation, ensuring affordable pricing, and encouraging consumption among a broader demographic.
Source: Online/OFA
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