Global Specialty Fats and Oils Market Will Surpass USD 16, 610 Million by 2026

Findings from Facts and Factors report "Specialty Fats and Oils Market By Type (Specialty Oil (Sunflower Oil, Palm Oil, Soya Oil, Rapeseed, Olive Oil, and Others), and Specialty Fat (Bakery Fats, Ice Cream Fats, Confectionary Fats, Frying Fat, and Others) and By Application (Restaurant, Household, Industry, and Others), and By End-User (Chocolate, Confectionaries, Bakery, Infant Food, Culinary, Functional Fats, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020-2026" states that the global Specialty Fats and Oils market in 2019 was approximately USD 10,620 Million. The market is expected to grow at a CAGR of 7% and is anticipated to reach around USD 16, 610 Million by 2026.

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Specialty fats & oils are established for customized use of product processing. Specialty fats are vegetable fats. Specialty oils are the class of oils that find application in food supplements, while specialty fats are consumed as alternatives for conventional fats. Use of the product as a cocoa butter substitute, partnerships, and collaborations in the food & beverage industry, rising foreign investments, etc. are some of the major factors trending the global specialty fats & oils market over the forecast period.

An increase in the consumption of processed foods and confectionery has increased the target market growth. However, the several health risks associated with excessive consumption of fats & oils are expected to hamper the growth target market. The consumption of trans-fatty acids is intensely related to an augmented risk of cancer and cardiovascular diseases. Nevertheless, the need for improving the nutritive value of the item along with increasing health consciousness among the consumers for reducing levels of cholesterols is anticipated to create lucrative growth opportunities for the target market growth.

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In terms of type, the target market is categorized as specialty oil and specialty fat. Specialty oil is further sub-categorized as sunflower oil, palm oil, soya oil, rapeseed, olive oil, and others. Whereas, specialty fat is sub-categorized as bakery fats, ice cream fats, confectionary fats, frying fat, and others. Among these categories, specialty oil is expected to be the dominating category owing to the growing gap between cocoa butter demand & supply. Also, palm oil is anticipated to be the dominating sub-category because it is the most versatile of all vegetable oils.

In terms of application, the target market is categorized as the restaurant, household, industry, and others. Among these, the industry category is expected to lead the application segment owing to the maximum usage of specialty fats and oils in industries.

In terms of end-users, the target market is categorized as chocolate, functional fats, culinary, infant food, bakery, confectioneries, and others. Among these, the chocolate category is anticipated to lead the end-user category due to the increasing demand for chocolate.

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In terms of region, the target market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, Europe is anticipated to dominate owing to an increase in the consumption of confectionery and processed foods in the region.

Some of the key players operating in the target market are Wilmar International, Cargill Incorporated, IOI Group, Fuji Oil Co., Ltd, ADM (Archer Daniels Midland Company), IFFCO, Premium Vegetable Oils SdnBhd, Musim Mas Holdings Pte. Ltd, Intercontinental Specialty Fats Sdn. Bhd., Liberty, Batory Foods, Inc, AAK AB, Mewah International Inc., Rotel, Bunge, and Virgoz.

This report segments the Specialty Fats and Oils market as follows:

Global Specialty Fats and Oils Market: By Type Segmentation Analysis

Speciality Oil
Sunflower Oil
Palm Oil
Soya Oil
Rapeseed
Olive Oil
Others
Speciality Fat
Bakery Fats
Ice Cream Fats
Confectionary Fats
Frying Fat
Others

Global Specialty Fats and Oils Market: By Application Segmentation Analysis

Restaurant
Household
Industry
Other

Global Specialty Fats and Oils Market: By End-User Segmentation Analysis

Chocolate
Confectionaries
Bakery
Infant Food
Culinary
Functional Fats
Others

Global Specialty Fats and Oils Market: Regional Segmentation Analysis

North America
The U.S.
Canada
Europe
Germany
The UK
France
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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