Global Specialty Fats and Oils Market was valued US$ 86.52 Bn in 2019 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX % during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Increasing health awareness by consumer to reduce body cholesterol level, enhancing nutritive value of product, customers is started following strict health norms in order to enhance the quality of their life are major driving factor for the expansion of the specialty fats and oils market. Additionally, global specialty fats & oils market is projected to reach highest CAGR of XX% during forecast period, because of rising income, growing purchasing power, growing demand for processed food and growing middle class population.
However, the major restraining factor for global specialty fats & oils market are rising health concerns related to excessive consumption of fats & oils, consumption of trans-fatty acids is strongly associated with an increased risk of cardiovascular diseases and cancer. More regulations on the usage of liquid oils used directly in sweet goods and icings. These factors are expected to hamper the growth of the specialty fats & oils market.
Based on application, bakery products segment dominated the market attributable to increasing production and consumption of ultra-processed food, mainly bakery products such as bread, pastries, cakes, and cookies.
On the basis of product types, the specialty fats & oils market is segmented into specialty oils, and specialty fats. Specialty oils is further sub-divided into corn oil, sun flower oil, blend oil, soybean oil, palm oil, cottonseed oil, coconut oil, rapeseed oil, and others and specialty fats is classified into cocoa butter substitute, cocoa butter equivalent, cocoa butter replacers, synthetic cocoa butter fat, human milk butter substitute, butter oil substitute, spray oil, dairy fat replacers, and others. The palm oil segment accounted for the largest share, followed by the soybean segment because of their compositions and wide availability. Palm oil is refined, bleached, and deodorized to obtain specialty fat.
In terms of form, dry segment accounted for a larger market share followed by the liquid segment. Dry oils provide optimum fat content and maintain the palatability & quality of food product, thereby stimulating the market demand for dry oil.
Region-wise, Asia Pacific region is expectable to the fastest-growing market, and it also accounted for the largest share in market thanks to rising purchasing power, rapid growth of the middle-class population, and consumer demand for processed products.
The objective of the report is to present a comprehensive analysis of the Global Specialty Fats and Oils Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Specialty Fats and Oils Market dynamics, structure by analyzing the market segments and project the Global Specialty Fats and Oils Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Specialty Fats and Oils Market make the report investor’s guide.
Scope of Global Specialty Fats & Oils Market:
Global Specialty Fats & Oils Market, by Product Type:
• Specialty Oils
• Specialty Fats
Global Specialty Fats & Oils Market, by Form:
Global Specialty Fats & Oils Market, by Functionality:
Global Specialty Fats & Oils Market, by Application:
• Chocolates & Confectioneries
• Processed Foods
• Bakery Products
• Dairy Products
Global Specialty Fats & Oils Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• Latin America
Key player’s operating in Global Specialty Fats & Oils Market:
• Cargill Inc.
• Wilmar International Limited
• Intercontinental Specialty Fats
• Puratos Group NV
• IFFCO Group
• 3F GROUP
• Musim Mas Group
• Fuji Oil USA
• Oleo-Fats Inc
• De Wit Specialty Oils
• Mewah Group
• IOI Corporation Berhad
• Archer Daniels Midland Company
• Bunge Limited
• AAK AB
• The Hain Celestial Group Inc.
• Ventura Foods
• Apical Group Ltd
• Liberty Oil Mills Ltd
• Adams Group
• PRESCO PLC
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