SPECIALTY FATS & OILS MARKET TO REACH USD 30.0 BILLION BY 2027 | CAGR 5.7% – FORENCIS RESEARCH

Specialty Fats & Oils MarketΒ - Global Industry Analysis and Forecast 2020 to 2027

Global Specialty Fats & Oils Market: Key Highlights

  • According to the new market research report Specialty Fats & Oils Market by Type (Specialty Fats, Specialty Oils), by Application (Chocolates & Confectioneries, Bakery Products, Processed Foods, Dairy Products, Others), by Form (Dry, Liquid), by Functionality (Molding, Filing, Coating, Stabilizing, Texturing, Health, Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global specialty fats & oils market is estimated to reach USD 30.0 Billion by 2027 at a CAGR of around 5.7% during the review period.
  • Specialty fats and oils are intermediate products with distinct characteristics and superior functional properties such as margarine and shortening
  • Palm oil is one of the leading types of specialty oil used in various applications owing to its wide availability and superior composition 
  • Superior gloss, gloss retention, product temperature resistance, excellent melting profile, extended shelf life, and flavor releasing properties are some of the major benefits offered by the specialty fats and oils

Specialty Fats & Oils Market

Global Specialty Fats & Oils Market: Key Market Dynamics

  • Growing consumption of confectionery and processed foods has expected to fuel the growth of specialty fats and oils market during the forecasted period
  • Rising gap between demand and supply of cocoa butter has expected to drive the growth of market during the forecasted period
  • Growing awareness of health effects due to excessive consumption of fats and oil has expected to hinder the growth of market

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Global Specialty Fats & Oils Market: Regional Overview

  • Europe:

Europe is anticipated to witness prominent growth in specialty fats & oils market during the forecasted period owing to the growing consumption of confectionery food products in the region. The confectionery industry is contributing greatly to Europe’s economy. Savoir-faire and creativity of European manufacturers are globally acknowledged which enable them to export their products all over the world. According to Research Papers in Economics, around 60% of the production was exported to the top three destinations outside the European continent were the USA, Russia and Australia.

  • Asia-Pacific:

The Asia-Pacific is anticipated to witness the largest growth in the specialty fats and oils market during the forecasted period. This has attributed torobust production coupled with strong export potentials emerging from western countries. Moreover, the region has also witnessed huge demand for oils and fats in industry sectors such as dairy, confectionery, and bakery. The growing awareness regarding health benefits of specialty fats and oils such as prevention of risk of high blood pressure, minimizing the risk of developing cognitive health disorder, and amongst other has increased the demand in the region.

Global Specialty Fats & Oils Market: Key Players Overview

  • Bunge Loders Croklaan:

Bunge Loders Croklaan is one of the global leaders in producing and supplying sustainable plant-based specialty oils & fats for the food manufacturing industry. The company operates in confectionery, human nutrition, specialty ingredients, bakery, culinary, non-food product, and animal nutrition market segments. Bunge Loders Croklaan has a strong global network in the Asia Pacific, Middle East & Africa, Europe, and North America. In July 2019, the company announced the opening of a new edible processing facility in China. This will help Bunge Loders Croklaan to expand its ability to deliver plat-based specialty oils and fats ingredients for the foodindustry.

  • AAK AB:

AAK ABis a Swedish-Danish based company engaged in innovating and customizing solution based on vegetable oils and fats. The company has 20 production facilities, sales offices in more than 25 countries, and its products are been sold in more than 100 countries across the globe. AAK AB offers its product range to food, confectionery, and cosmetics industry. In February 2019, the company acquired MaasRefinery B.V., specialized in toll refining of vegetable oils and fats for the food industry with and aims to increase the capacity, and support production facilities.

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Rep Id : FnB 043

Published : 2020-08-25

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