The Global Specialty Fats and Oils Market size was USD 12.67 Billion in 2020 and is expected to reach a value of USD 26.06 billion by 2032, and register a CAGR of 7.60% during the forecast period. a panoramic overview of the industry with regards to market size, market share, revenue growth, opportunities, drivers, restraintsThe global market is driven by factors such as growing demand for specialty fats and oils as ingredients for making confectionary and chocolates, and widening gap between demand and supply of cocoa butter and fluctuating cost of coca butter. This gap of demand and supply of cocoa butter is met by specialty fats. Rising awareness regarding health benefits of consuming good fatty acids is another key factor driving growth of the global specialty fats and oils market.
Among the form segments, the dry form of specialty fats and oils segment accounted for major revenue share in the global market in 2020, and is projected to register comparatively higher growth rate during the forecast period. The dry form helps these specialty fats act as a better cocoa and dairy fat replacement, and hence is highly preferred by end users, thereby driving revenue growth of this segment.
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Top Leading Players in Specialty Fats and Oils Market:
Cargill, Wilmar International Ltd., Musin Mas Holdings, Bunge, AAK AB, IOI Group, DL Industries, Manildra, The Nisshin Oillio Group, Mewah International, Fuji Oil, and IFFCO.
Specialty Fats and Oils Market Segmentation:
- By Type Outlook-Specialty Fats
- Cocoa Butter Substitutes
- Lauric Fats
- Creaming Fats
- Creaming Fats
- Anhydrous Milk Fats
- Butter
- Margarine
- Shortenings
- Others
- Specialty Oils
- Palm Oil
- Soybean Oil
- Coconut Oil
- Cotton Seed Oil
- Rapeseed Oil
- Sunflower Oil
- Olive Oil
- Other Specialty Oils
- By Form Outlook -Dry
- Liquid
- By Functionality Outlook -Molding
- Filling
- Coating
- Stabilizing
- Texturing
- Health
- Other Functions
- By Application Outlook-Chocolates Confectioneries
- Bakery Products
- Processed Foods
- Dairy Products
- Other Applications
- By End-Use Outlook-Industrial
- Food and Beverages
- Personal Care and Cosmetic
- Others
- Household Purposes
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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