OCTOBER 20236EDITORIALOctober - 25 - 2023, Vol - 03, Issue - 18 ISSN 2836-1989WPublished by ValleyMedia, Inc. Editorial StaffAva GarciaDavies MedowsJohnson Heller Joshua Parkersales@foodbusinessreview.comeditor@foodbusinessreview.commarketing@foodbusinessreview.comEmailVisualizerManaging EditorFood Business Review Visit www.foodbusinessreview.comCopyright © 2023 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.TO SUBSCRIBE TOVian IsaacStanley MartinStanley MartinManaging Editoreditor@ foodbusinessreview.comDisclaimer: *Some of the Insights are based on our interviews with CIOs and CXOsInnovations and Trends in the Global Fats and Oils IndustryThe fats and oils industry has come a long way from its humble origins as a simple cooking staple. Today, it stands at the forefront of innovation and adaptation, responding to evolving consumer demands and the urgent need for sustainable practices. Consumers' choices reshape the fats and oils market as they become more health-conscious and environmentally aware. Clean labels, health, wellness, and sustainability influence consumer preferences. People actively check for healthier fats and oils in packaged goods to reduce heart disease and cholesterol risks.The global fats and oils industry, valued at $179.31 billion in 2022, is projected to reach $240.69 billion by 2027, driven by a CAGR of 6.1 percent. Several driving factors contribute to the industry's growth. The expanding global population and evolving lifestyles foster increased consumption of edible oils and processed foods, elevating the demand for fats and oils. Consumers' growing health consciousness has prompted manufacturers to position their products as healthy oils, aligning with the trend toward wholesome eating. Manufacturers are investing in advanced processing technologies and diversifying their product portfolios to meet this demand. The sector is witnessing a notable shift from trans-fats replaced by healthier alternatives like unsaturated liquid vegetable oils. As the industry continues to evolve, driven by consumer preferences for healthy oils and cutting-edge processing techniques, it is poised for sustained growth and innovation in the global market.This edition of Food Business Review brings to readers the key developments in the fats and oils space and how firms are leveraging the latest technologies to offer top-notch services. It features thought leadership articles from Kimberley Sundy, Senior Director, Sustainability, Kellogg Company, and Tanja Dinic, Director of Internal Audit for Food Safety, Fortenova grupa. Kimberley Sundy talks about sustainable food availability and responsible production. Addressing climate change's impact on food access and nutrition is crucial, especially for marginalized communities facing disproportionate challenges, including undernutrition and obesity due to reduced crop yields and increased food insecurity. Achieving sustainability and equity in food access is essential for global well-being. Tanja Dinic highlights the importance of food safety and accomplishing this in manufacturing. Food safety culture is established by management's attitudes and actions, impacting the entire food chain. Companies must prioritize food safety through processes, exceeding standards, and leading by example, fostering a culture aligned with their vision and values.This edition features other stories from fats and oils companies who provide valuable insights about innovative solutions shaping this space.In this edition featuring the Top Fats and Oils Companies in 2023, we hope you find the appropriate company suited to your business requirements.Let us know your thoughts.Henry Smith
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