Global Specialty Fats & Oils Market Size, Trends, and Analysis - Forecast To 2026 By Form (Dry, & Liquid), By Functionality (Moulding, Filling, Coating, Stabilizing, Texturing, & Other Functions), By Type (Specialty Oils, Specialty Fats), By Application (Bakery Products, Processed Foods, Animal Nutrition, Dairy Products, Infant Nutrition, Chocolates & Confectionery, & Other Applications), By Region (North America, Asia-Pacific, Middle East & Africa and Europe) End-User Landscape, Company Market Share Analysis & Competitor Analysis
Specialty fats are vegetable fats used in ice creams, infant formula, chocolate, spreads and fillings, and dairy products among others. Whereas specialty oils are different from commodity oils, used in many applications such as supplements, cosmetics, and unique culinary applications. Specialty fats are categorized into cocoa butter equivalent, CB replacer, and CB substitute. Cocoa butter equivalent fats work by improving shelf life and the value of certain products. The growing demand for nutritional food products and processed food products among consumers; the increasing consumption of processed food and bakery food products; and changing lifestyle and food habits among consumers in developing nations are driving the market growth. Moreover, these fats and oils are also used as a substitute for cocoa butter in the food industry making it one of the most demanding raw materials.
Based on the form, the market can be bifurcated into liquid and dry. The dry segment will grow rapidly during the forecast period as compared to the liquid segment. The dry oils are made from vegetables, herbs, or seeds. This kind of dry oil includes avocado oils, sunflower oils, and grapeseed oil among others. Given these oil's multitude of uses, their varied application in the cosmetic and food industry would drive the segment growth.
Based on functionality, the market is divided into moulding, filling, coating, stabilizing, texturing, and other functions. The coating fats segment will yield maximum revenue in this market, as they tend to safeguard the bakery and confectionery products from damage and loss of moisture. Also, their applications in wafers, biscuits, and bakery coatings make their acceptance and demand rate high in such systems.
Given the type, the market can be bifurcated into specialty oils and fats. The specialty oils segment will grow rapidly in this market due to its wide use as lubricants in the cosmetic industry and cooking oil segment. Specialty oils are extracted from sunflower, palm, rapeseed, coconuts, and soybeans among others. The growing demand for fast foods such as fried snacks and frozen pre-fried food items are driving the market growth.
Based on the application, the market can be divided into bakery products, processed foods, animal nutrition, dairy products, infant nutrition, chocolates & confectionery, and other applications. The infant nutrition segment will be the fastest-growing segment in this market. Infant formula works as a great source of nutrition for infants. Manufacturers delivering high-end lipid ingredients tailor make items for infant’s nutrition which in turn will drive the market growth. The chocolates and confectionery segment would also grow at a high CAGR during the forecast period due to the availability of specialty fats for all confectionery needs, the presence of filling fats for varied applications, and also low trans fatty acids to serve the requirements of clean labeling.
North America will be the fastest-growing region in this market as it is the largest base for the producers of processed foods, have the finest chocolate range, and also has one of the largest consumer bases. The growing preference for processed food in the region is driving the market growth. The Asia-Pacific region will grow rapidly in this market as India’s confectionery market is the fastest-growing market.
Some of the key players operating in the market include ADM SIO, Besler, Danoil, Sdn Bhd, Premium Group, Nine stars worldwide, Fuji Sunny Foods Corp. Pte.Ltd., Delta Wilmar, Marvic Vegetable oil, bert& sons agro Industrial Ltd, Fuji Oil, AAK, Cargill, and Usha edible Oil among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Specialty Fats & Oils Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Specialty Fats & Oils Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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