Specialty Fats & Oils Market is expected to reach USD 22.0 billion in 2029, from USD 13.1 billion in 2021, expanding at a CAGR of 6.7% | Share & Industry Report
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/specialty-fats-andoils-market-analysis-industry-research/
The factors driving the growth of Specialty Fats & Oils Market includes growing demand for natural cosmetic products, rise in the production of cocoa around the world, increasing awareness about the health benefits of dark chocolate products and improvements in the living standards. Moreover, growing consumption of confectionery and processed food products, rising trend of microencapsulation of fats and oils, increase in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Specialty Fats & Oils Market share. In addition, the increasing investments by leading players on research and development, growing adoption of advanced technologies by manufacturers and rising disposable, are further contributing towards the market growth.
However, growth of the Specialty Fats & Oils Market is hindered due to health concerns related to excessive consumption of fats and oils.
The prominent players operating in the market are AAK AB, IFFCO, BASF SE, Cargill, Incorporated, Wilmar International Ltd., Bunge Limited, FUJI OIL CO., LTD., Manildra Group, Mewah Group and BAKO WALES, among others.
Based on Type, the Specialty Oils segment is predicted to grow at a significant CAGR during the forecast period
Increasing application of vegetable oils in the bakery & confectionery products and growing popularity of palm and sunflower oils, are Specialty Fats & Oils Market size
Based on Application, the Infant Nutrition segment is projected to expand at a robust CAGR over the forecast period
Growing demand for infant formulas and infant food lipids across developing countries and rise in the launch of innovative products, are propelling segment's growth.
Based on Region, the Asia-Pacific region is anticipated to grow at a remarkable CAGR during the forecast period
As per the Specialty Fats & Oils Market Report, rise in the consumption of dark chocolate products, presence of the leading players such as FUJI OIL CO., LTD., Manildra Group and Wilmar International Ltd., rapid urbanization and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
In 2019, BASF SE, Cargill, incorporated, Procter & Gamble, and other firms agreed to develop PPP, a program which aims to build a certified coconut oil supply chain and improve the livelihood of coconut farmers in the Philippines and Indonesia.
In 2019, AKK AB acquired Dutch Company, MassRefinery B.V., a major oilseeds refinery to enhance the production capacity and support the existing production facilities and improve continued growth.
Segmentation by Type
Cocoa Butter Equivalents
Cocoa Butter Substitutes
Cocoa Butter Replacers
Cocoa Butter Improvers
Dairy Fat Replacers
Segmentation by Application
Chocolates & Confectionery
Segmentation by Form
Segmentation by Functionality
Segmentation by Region
Rest of APAC
United States of America
Rest of Europe
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