Specialty Fats Oils-Market Analysis Growth Globally During The Forecast Period 2022-2030 |

This report by Astute Analytica documents all the factors affecting the global Specialty Fats Oils-Market. The report encompasses various sections describing the prospects of the market growth or decline. This in-depth analysis includes both qualitative and quantitative analysis based on primary and secondary research. The study also contains a list of innovations and company strategies to maintain a strong foothold in the market.

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The global Specialty Fats Oils-Market size was US$ 13,156.2 Million in 2021. The global Specialty Fats Oils-Marketis forecast to grow to US$ 25,970.3 Million by 2030 by registering a compound annual growth rate (CAGR) of 7.8% during the forecast period from 2022 to 2030.

Factors affecting the global Specialty Fats Oils-Market include rising disposable income, growing demand for packed food products, and changing lifestyles of people. Furthermore, the rising population and increasing demand for food will also be opportunistic for the global market. For instance, according to Department of Agriculture, corn plantation is expected to increase to 93.3 million acres in 2021 from 90.8 million acres in 2020.

COVID-19 Impact Analysis

The COVID-19 pandemic positively affected the global Specialty Fats Oils-Market. The demand for packed food products surged during the COVID-19 pandemic. In addition to that, a sudden change in lifestyle and implementation of work-from-home further escalated the growth of the market. During the pandemic, comfort food emerged as a strong trend, as consumers turn to comfort food in times of stress. Moreover, the pandemic also increased the user base on online shopping platforms, and people started adopting online methods to get groceries. Restaurants began offering online services to abide by the regulations imposed by governments. Thus, it had been opportunistic for the industry players. This report by Astute Analytica thoroughly describes the effect of the COVID-19 pandemic on the Specialty Fats Oils-Market with precise data and statistics.

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Regional Insights

This thorough report discusses the contribution of every region to the global Specialty Fats Oils-Market. Asia-Pacific is forecast to hold the highest market share in the global market, owing to the rising disposable income and changing lifestyles of the people in the region. Moreover, online platforms are gaining wide traction in this region. Thus, it will fuel the growth of this Asia-Pacific Specialty Fats Oils-Market. Further, the growing population and rising demand for packed food products will also be opportunistic for the global market.

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About Astute Analytica:

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This release was published on openPR.