Specialty Fats and Oils Market, By Product (Specialty Oil and Specialty Fats), By Application (Household, Restaurant, Industrial, and Others), By Form (Dry and Liquid), By End-User (Chocolate, Confectionaries, Bakery, Infant Food, Culinary, Functional Fats, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2029

Fats and oils are composed of molecules known as triglycerides, which are esters composed of three fatty acid units linked to glycerol. An increase in the percentage of shorter-chain fatty acids and/or unsaturated fatty acids lowers the melting point of a fat or oil. Pure fats and oils are colorless, odorless, and tasteless. The characteristic colors, odors, and flavors that we associate with some of them are imparted by foreign substances that are lipid soluble and have been absorbed by these lipids. Vegetable oils and coking fats are inexpensive and people are switching from butter to oils, these factors are driving the global specialty fats and oils market. The global specialty fats and oils market accounted for US$ 13.5 billion in 2020 and is estimated to be US$ 26.0 billion by 2029 and is anticipated to register a CAGR of 7.5%.

COVID-19 Impact on the Market:

With the outbreak of the COVID-19, various businesses are at the forefront to combat this pandemic. The pandemic has hindered the industrial supply chain and also disrupted the production segment. However, the demands increased most of the people are stocking up these products which has been beneficial for the market. This report will quantify the impact of this pandemic on the specialty fats and oils market.

Cocoa beans are among the key ingredients being used in the production of chocolate. With the rising demand for cocoa as an ingredient on the one hand, and a decline in the production rate on the other, specialty fats offer an alternative solution. Specialty fats such as cocoa butter equivalents, cocoa butter replacers possess a similar set of characteristics as that of cocoa. Moreover, specialty fats are less expensive than cocoa butter.  These factors are driving the global specialty fats and oil market.

Restraint:

Excessive consumption of hydrogenated fats & oils increases the level of LDLs (low-density lipoproteins) and decreases the level of HDLs (high-density lipoproteins) in the blood, thereby increasing the risk of the thrombosis. This is because the PUFA in vegetable oils oxidize automatically during food processing, resulting in the production of inflammatory peroxides and hydroperoxides. Thus, awareness about the negative health effects of the inclusion of trans-fatty acids is restraining the global specialty fats and oil market.

The global specialty fats and oils market is segmented based on the product, application, form, end-user, and region.

Depending upon the product, the global specialty fats and oils market is categorized into the specialty oil and specialty fats. In terms of application, the worldwide industry is categorized into household, restaurant, industrial and others. Based on the form, the target market is segmented into dry and liquid. Based on the end-user, the target market is segmented into chocolate, confectionaries, bakery, infant food, culinary, functional fats and others.

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Regionally, the overall industry is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.North America Dominates specialty fats and oils market in terms of revenue as compared to other regions. The region includes highly developed countries such as the US and Canada, with high-income populations and is continuously dominating as the fast-food sector is a growing sector in the region. Hence, industrial food producers are focusing on developing not just quality but healthy food products in the country.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029.  For the purpose of this study, has segmented the global specialty fats and oils market report based on  product, application, form, end-user, and region.

Global Specialty Fats and Oils Market, By  Product:

• Specialty Oil
• Specialty Fats

Global Specialty Fats and Oils Market, By  Application:

• Household
• Restaurant
• Industrial
• Others

Global Specialty Fats and Oils Market, By Form:

• Dry
• Liquid

Global Specialty Fats and Oils Market, By End-user:

• Chocolate
• Confectionaries
• Bakery
• Infant Food
• Culinary

• Global Specialty Fats and Oils Market, By Region:

• North America
• U.S.
• Canada
• Europe
  • • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
• • • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa

The key players operating in the global specialty fats and oils market includes AAK AB, IOI Group, D&L Industries, Wilmar International, Mewah International, Cargill, Bunge, Manildra, Musim Mas, IFFCO. Companies are increasing their investments in R&D to expand its product portfolio and market presence. For instance, in December 2019, Cargill and nine other prominent palm oil producers—Bunge Limited, Golden Agri Resources, Musim Mas, Unilever, Wilmar, Nestlé, PepsiCo, Sime Darby Plantation, and Mondelez International—announced a collaboration to support and fund new radar-based forest monitoring systems, which would not only help detect deforestation but also help companies improve sustainability in commodity supply chains. Further, in February 2019, AAK acquired Dutch company, MaasRefinery B.V, a major oilseeds refinery, to increase its production capacity, and support existing production facilities and enable continued growth.

• AAK AB
• Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Overview
  • Business Strategies

• IOI Group
•  D&L Industries
• Wilmar International
•  Mewah International
• Cargill
•  Bunge
•  Manildra
• Musim Mas
• IFFCO

 “*” marked represents similar segmentation in other categories in the respective section