Specialty Fats And Oils Global Market Report 2024 - By Share, Demand, Industry Size, Report, Outlook By 2033

"The new report published by The Business Research Company, titled ""Specialty Fats And Oils Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the specialty fats and oils market size has grown strongly in recent years. It will grow from $11.7 billion in 2023 to $12.76 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The specialty fats and oils market size is expected to see strongly grown in the next few years. It will grow to $17.98 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.

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Growing Consumption Of Packaged Food Drives Specialty Fats And Oils Market Growth
Increasing consumption of packaged food is expected to boost the growth of the specialty fats and oils market. Packaged food refers to food with its entire floor blanketed to save from the direct touch of the food with the environment, with the aid of permeable or impermeable wrapping. Consumers prefer for low-fat food with healthier options and ready-to-eat packed food as they are easily available, tasty, and healthy, specialty oils and fats that are used in packed food have nutritional values along with functional benefits, as a result, increasing consumption of packaged food increases the demand for the specialty fats and oils market. For instance, in 2021, according to Canada.ca, a Canada-based official website of the Canadian government given the statement that South Korea was one of the largest global importers of packaged agri-food and seafood products with US$21.3 billion in 2021 and Canada was South Korea's ninth-largest supplier with US$678.2 million with a growth rate of 11.9% (2017-2021). Further, the retail income of packaged food in South Korea was US$35.3 billion in 2021. The top packaged food categories responsible for increased retail income include blanketed rice, pasta and noodles, dairy, processed meat, and seafood. Therefore, Increasing consumption of packaged foods drives the specialty fats and oils market.

Sustainable And Innovative Addition To The Specialty Oils And Food Market
Product innovations are a key trend in gaining popularity in the specialty oils and food market. Major companies operating in the specialty oils and food market are focused on developing innovative solutions to strengthen their position in the market. For instance, in December 2023, Evonik Industries AG, a Germany-based specialty chemicals company, launched Ecohance Soft Baobab Oil. It is a refined oil from the non-edible seeds of the baobab fruit. It is a natural, sustainable, and fair-trade ingredient that can be used in a wide range of cosmetic formulations, such as hand creams, hair conditioners, and body butters. Ecohance Soft Baobab oil is rich in antioxidants and has moisturizing and conditioning properties. It is also a good source of vitamins A, C, and E

The specialty fats and oils market covered in this report is segmented -
1) By Type: Specialty Oil, Specialty Fat
2) By Form: Solid, Semi-Solid, Liquid
3) By Application: Confectionery, Bakery, Dairy, Cosmetics, Other Applications

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Major companies operating in the specialty fats and oils market report are AAK AB, Cargill Incorporated, Fuji Oil Co. Ltd., Bunge Limited, Mewah International Inc., Wilmar International Limited, D&L Industries Inc., IFFCO Group, Archer Daniels Midland Company, The Hain Celestial Group Inc., Ventura Foods LLC, Apical Group Ltd., Liberty Oil Mills Ltd., Adams Group, PRESCO plc, Intercontinental Specialty Fats Sdn. Bhd., MOI International Pte. Ltd., Golden Agri-Resources Ltd., Kuala Lumpur Kepong Berhad, Sime Darby Plantation Sdn. Bhd., IOI Corporation Berhad, Oleo-Fats, De Wit Speciality Oils, Puratos, Musim Mas Group , Savola Group, The Manildra Group, 3F Industries Ltd., OLENEX C.V., BASF SE

Contents of the report:
1. Executive Summary
2. Specialty Fats And Oils Market Report Structure
3. Specialty Fats And Oils Market Trends And Strategies
4. Specialty Fats And Oils Market - Macro Economic Scenario
5. Specialty Fats And Oils Market Size And Growth
…..
27. Specialty Fats And Oils Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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