Global Specialty Fats and Oils Market

Global Specialty Fats and Oils Market (by product type (specialty oils, and specialty fats.), by form (dry, and liquid.), by functionality (molding, texturing, filling, coating, health, and others.), by application (chocolates & confectioneries, processed foods, bakery products, dairy products, and others.) and by region (North America, Europe, Asia pacific, Middle East & Africa and Latin America)) is expected to reach US$ 142.1 bn by 2026, at a CAGR of 7.35 % during a forecast period.

Increasing health awareness by consumer to reduce body cholesterol level, enhancing nutritive value of product, customers is started following strict health norms in order to enhance the quality of their life are major driving factor for the expansion of the specialty fats and oils market. Additionally, global specialty fats & oils market is projected to reach highest CAGR during forecast period, due to rising income, growing purchasing power, growing demand for processed food and growing middle class population.

The major restraining factor for global specialty fats & oils market are rising health concerns related to excessive consumption of fats & oils, consumption of trans-fatty acids is strongly associated with an increased risk of cardiovascular diseases and cancer. More regulations on the usage of liquid oils used directly in sweet goods and icings. These factors are expected to hamper the growth of the specialty fats & oils market.

Cocoa butter substitutes & palm oil projected to dominate the specialty fats and oils market respectively.

Palm oil accounted for the major market volume share and expected to maintain its dominance over the forecast period due to palm oil is largely produced and consumed vegetable oil surpassing soybean oil. Wide availability of palm oil, neutral taste and flavour and its rising application is the significant factor for the market growth.

Alternatively, cocoa butter substitutes dominates the specialty fats market due to essential food product texture characteristics, extreme softness, and shelf life enhanced by the gloss and snap features provided by cocoa butter.

Dry form of specialty fats and oils projected to dominate the global specialty fats and oils market.

Dry form of fats accounted for the maximum share as it accepts similarity in physical properties and chemical properties to dairy butter, cocoa butter and whipping cream that makes it an ideal alternative for these products. Dry oils provide optimum fat content and maintain the palatability & quality of food product, thereby stimulating the market demand for dry oil.

Rapid demand for specialty fats and oils in Asia Pacific projected to project the market growth.

Asia Pacific region is predictable to the fastest-growing market, and it also accounted for the largest share in market due to rising purchasing power, rapid growth of the middle-class population, and consumer demand for processed products. Rising acceptance of western style products such as olive oil, butter, cocoa butter, etc. has underpinned the overall growth of specialty fats and oils market. Also, consumer demand for processed food products provides promising prospects for growth as well as diversification in the region’s specialty fats and oils sector. North America on the other hand is expected to witness moderate growth owing to application of specialty fats and oils for nut salad dressing also for non-food purposes such as biodiesel and fatty acids production.

The key market players of the global Specialty Fats & Oils Market are Cargill Inc., Wilmar International Limited, Intercontinental Specialty Fats, Puratos Group NV, IFFCO Group, 3F GROUP, Musim Mas Group, Fuji Oil USA, Oleo-Fats Inc, De Wit Specialty Oils, Mewah Group, IOI Corporation Berhad, Archer Daniels Midland Company, Bunge Limited, AAK AB, The Hain Celestial Group Inc., Ventura Foods, Apical Group Ltd, Liberty Oil Mills Ltd, Adams Group, and PRESCO PLC.

Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the global specialty fats & oils market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global specialty fats & oils market. The driving forces as well as considerable restraints have been explained in depth. in addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global Specialty Fats & Oils Market positioning of competitors.

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