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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

11-30-2022 02:30 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

Specialty Fats & Oils Market

Specialty Fats & Oils Market

The Specialty Fats & Oils Market generated a revenue of USD 13.1 billion in 2021 and is expected to reach USD 22.0 billion in 2029, expanding at a CAGR of 6.7% during the forecast period.

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.

Key Developments

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.

Market Segmentation

Segmentation by Type

Specialty Fats
Cocoa Butter Equivalents
Cocoa Butter Substitutes
Cocoa Butter Replacers
Cocoa Butter Improvers
Dairy Fat Replacers
Others
Specialty Oils
Palm Oil
Soybean Oil
Coconut Oil
Rapeseed Oil
Others

Segmentation by Application

Chocolates & Confectionery
Bakery Products
Processed Foods
Animal Nutrition
Dairy products
Infant Nutrition
Others

Segmentation by Form

Dry
Liquid

Segmentation by Functionality

Molding
Filling
Coating
Stabilizing
Texturing
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
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Website: https://www.gmiresearch.com/

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