Global specialty fats and oils market is expected to expand beyond USD XXX billion in terms of value and xxx kilo tons in terms of volume by the end of 2023. Specialty fats are special group of vegetable fats that are used as substitutes for other types of fats in a wide variety of products including chocolate, confectionery, compound coatings, fillings and spreads, ice cream, dairy products, infant formula, and cosmetics. Specialty oils on the other hands are the class of oils that are used as dietary supplements or as oils with limited application in cooking and finds exclusivity amidst commodity oils.
Global specialty fats and oils market is expected to grow at a CAGR of 6% over the forecast period from 2017 to 2023. The major driving factor for the specialty fats is the constrained supply of cocoa butter and rising demand of chocolates and confectionary worldwide. The increasing gap between demand and supply of cocoa butter in the confectionery and chocolate industry is met by production of specialty fat. Moreover, rising awareness about the benefits of consumption of good fatty acids is a key driver for growth of specialty fats and oils market. Moreover, growing consumer preferences for products that are natural in origin is also resulting rising demand of specialty fats in application industries.
The report segments the global specialty fats & oils market by ingredients: palm oil, palm kernel oil, soybean oil, nut based oil, exotic fats and oils (majorly tropical tree seed oils), others (as specialty oils or feedstock for specialty fats). On the basis of type: confectionary fats, bakery oil/fat, culinary oil/fat, and functional oil/fat. On the basis of form: liquid, dry (solid/semisolid). On the basis of application: chocolate & confectionary, bakery, dairy, frying/cooking retail consumption, cosmetics, others (baby food etc.)
Figure: Global Specialty Fats & Oils Market by Region
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. Scope for growth of specialty fats is highest in Asia-pacific due to lower affordability of cocoa based products. Moreover the bakery and biscuits market is growing rapidly in such countries as inter cultural foods are getting integrated in daily eating habits. In developed markets such as The U.S. in North America and Germany and United Kingdom in Europe limited supplies of cocoa butter has necessitated rising demand of specialty fats and oils. Globally, the segments such as milk fat replacers, cosmetics and specialty oils are experiencing promising growth in most of the regions of the world; as a result the demand for specialty fats and oils is expected to grow at a substantial rate over the forecast period.
The companies covered in the report include Cargill Inc., Wilmar International Limited, Bunge Limited, AAK AB, IOI Loders Croklaan and Nisshin OilliO, International Foodstuff Company Holdings Limited, Olenex, Musim Mas Holdings, Intercontinental Specialty Fats SDN BHD, 3F Industries.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of specialty fats and oils both globally and regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of eubiotics acids.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the specialty fats and oils market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the specialty fats and oils market to understand the present and future trends in this market and formulate their strategies accordingly.
Get free analyst support for the queries before and post purchasing report.
Be assured of 100% customer satisfaction about the research and get 24X7 customer support.
Infinium has achieved over 400%+ growth in its repository and revenue over the last 2 years. Yes, we are proud to say we are growing at a great pace and becoming a trusted partner among our clients.
sign up for our newsletter