Specialty Fats and Oils Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The global specialty fats and oils market is anticipated to grow substantially, expanding from US$56 billion in 2024 to US$76.3 billion by 2031, at a CAGR of 4.5%. This growth is driven by an increasing emphasis on health-conscious food consumption and the broadening application of specialty fats and oils across industries, including food, cosmetics, and personal care.
Specialty fats and oils, such as coconut oil, olive oil, and cocoa butter substitutes, are vital in various industries. They provide essential nutrients and act as functional ingredients tailored to specific applications. The market’s expansion is further bolstered by a rising demand for clean-label, sustainable, and functional products.
Key Market Drivers
1.Soybean Oil Availability
oSoybean oil leads global edible oil consumption, with North America as a key producer.
oInnovations such as enzymatically inter-esterified (EIE) high oleic soybean oil offer a healthier alternative to partially hydrogenated oils.
2.Demand for Palm-based Fats
oPalm oil and its derivatives, including cocoa butter substitutes, find extensive use across industrial applications.
oResearch into alternatives like mango seed and hump fat oils supports industry growth.
3.Low-fat Dairy Trends
oIncreased demand for low-fat dairy products has driven the adoption of fat replacers in bakery, dairy, and confectionery sectors.
oMilk fat replacers in infant formula further fuel market expansion.
4.Functional Food Preferences
oSpecialty fats and oils enriched with antioxidants, plant sterols, and fatty acids are gaining popularity for their health benefits, such as enhanced immunity and skin health.
Emerging Opportunities
1.Natural Cosmetic Products
oConsumer interest in natural and sustainable products is driving demand for ingredients like shea butter, cocoa butter, and jojoba oil.
oGrowing awareness of eco-friendly products and improved online accessibility support this segment.
2.Processed Food Growth in Emerging Markets
oThe increasing consumption of processed foods in developing regions creates opportunities for specialty fats and oils that enhance texture, flavor, and shelf life.
oCustomization options tailored to local preferences, such as sensory properties and stability, offer further growth prospects.
Regional Analysis
1.Europe
oEurope, valued at US$12.5 billion in 2023, leads the market with a strong preference for natural products like extra virgin olive oil and nut-based specialty oils.
oGermany, Italy, France, and Spain are prominent contributors to regional growth.
2.North America
oAs a significant producer of soybean oil, North America benefits from cost advantages and growing consumer demand.
3.Asia and the Middle East
oThe widespread use of vegetable oils for cooking and household purposes drives rapid growth in these regions.
Challenges to Market Growth
1.Declining Demand for Coconut Oil
oHealth-conscious consumers in North America are reducing coconut oil consumption, affecting regional revenues.
oUnstable oil crop prices due to weather and political instability pose further challenges.
2.Production Barriers
oLimited access to financial resources and outdated farming techniques reduce specialty oil production.
oCrop losses of up to 40% from inadequate pest and disease control remain a pressing concern.
Competitive Analysis
Key players in the market are focusing on partnerships, research, and sustainability to strengthen their market presence.
Prominent companies include:
• Cargill Inc.
• Wilmar International Limited
• Kiril Mischeff
• Riviana Foods Pty Ltd.
• Nestlé S.A.
• The Hain Celestial Group, Inc.
• The Kraft Heinz Co.
• Ariza B.V.
• Newberry International Produce Limited
• Grünewald Fruchtsaft GmbH
• Tree Top Inc.
• Hiltfields Ltd.
• Shimla Hills Offerings Pvt. Ltd.
• Antigua Processors S.A.
• SunOpta Grains and Foods Inc.
• Others
Specialty Fats and Oils Market Segmentation
By Product
• Specialty Oils
oPalm Oil
oSoya Oil
oPeanut Oil
oCoconut Oil
oRapeseed Oil
oSunflower Oil
oOlive Oil
oOthers
• Specialty Fats
oCocoa Butter Substitutes
oCocoa Butter Equivalent (CBE)
oCocoa Butter Improver (CBI)
oCocoa Butter Replacer (CBR)
• Lauric Fats
• Creaming Fats
• Anhydrous Milk Fats
• Butter
• Margarine
• Shortenings
• Others
By End-Use Industry
• Industrial
• Food and Beverages Industry
oBakery
oDairy and Ice Cream
oChocolate & Confectionery
oBreads and Cereals
oOthers
• Personal Care and Cosmetics
• Commercial (Hotel/Restaurant/Café)
• Household
• Others
By Region
• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• The Middle East & Africa
Please note: Delivery Timelines - 5 working days.
- 1. Executive Summary
- 1.1. Global Specialty Fats and Oils Market Snapshot
- 1.2. Future Projections
- 1.3. Key Market Trends
- 1.4. Regional Snapshot, by Value, 2024
- 1.5. Analyst Recommendations
- 2. Market Overview
- 2.1. Market Definitions and Segmentations
- 2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
- 2.3. Value Chain Analysis
- 2.4. Porter’s Five Forces Analysis
- 2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
- 2.6. Impact of Ukraine-Russia Conflict
- 2.7. Economic Overview
- 2.7.1. World Economic Projections
- 2.8. PESTLE Analysis
- 3. Global Specialty Fats and Oils Market Outlook, 2019 – 2031
- 3.1. Global Specialty Fats and Oils Market Outlook, by Product, Value (US$ Bn), 2019 – 2031
- 3.1.1. Key Highlights
- 3.1.1.1. Specialty Oils
- 3.1.1.2. Specialty Fats
- 3.1.1.3. Lauric Fats
- 3.1.1.4. Creaming Fats
- 3.1.1.5. Anhydrous Milk Fats
- 3.1.1.6. Butter
- 3.1.1.7. Margarine
- 3.1.1.8. Shortenings
- 3.1.1.9. Other
- 3.2. Global Specialty Fats and Oils Market Outlook, by End Use, Value (US$ Bn), 2019 – 2031
- 3.2.1. Key Highlights
- 3.2.1.1. Industrial
- 3.2.1.2. Food and Beverages
- 3.2.1.3. Personal Care and Cosmetics
- 3.2.1.4. Commercial
- 3.2.1.5. Household
- 3.2.1.6. Others
- 3.3. Global Specialty Fats and Oils Market Outlook, by Region, Value (US$ Bn), 2019 – 2031
- 3.3.1. Key Highlights
- 3.3.1.1. North America
- 3.3.1.2. Europe
- 3.3.1.3. Asia Pacific
- 3.3.1.4. Latin America
- 3.3.1.5. Middle East & Africa
- 4. North America Specialty Fats and Oils Market Outlook, 2019 – 2031
- 4.1. North America Specialty Fats and Oils Market Outlook, by Product, Value (US$ Bn), 2019 – 2031
- 4.1.1. Key Highlights
- 4.1.1.1. Specialty Oils
- 4.1.1.2. Specialty Fats
- 4.1.1.3. Lauric Fats
- 4.1.1.4. Creaming Fats
- 4.1.1.5. Anhydrous Milk Fats
- 4.1.1.6. Butter
- 4.1.1.7. Margarine
- 4.1.1.8. Shortenings
- 4.1.1.9. Other
- 4.1.2. BPS Analysis/Market Attractiveness Analysis
- 4.2. North America Specialty Fats and Oils Market Outlook, by End Use, Value (US$ Bn), 2019 – 2031
- 4.2.1. Key Highlights
- 4.2.1.1. Industrial
- 4.2.1.2. Food and Beverages
- 4.2.1.3. Personal Care and Cosmetics
- 4.2.1.4. Commercial
- 4.2.1.5. Household
- 4.2.1.6. Others
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
- 4.3. North America Specialty Fats and Oils Market Outlook, by Country, Value (US$ Bn), 2019 – 2031
- 4.3.1. Key Highlights
- 4.3.1.1. U.S. Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 4.3.1.2. U.S. Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 4.3.1.3. Canada Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 4.3.1.4. Canada Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis
- 5. Europe Specialty Fats and Oils Market Outlook, 2019 – 2031
- 5.1. Europe Specialty Fats and Oils Market Outlook, by Product, Value (US$ Bn), 2019 – 2031
- 5.1.1. Key Highlights
- 5.1.1.1. Specialty Oils
- 5.1.1.2. Specialty Fats
- 5.1.1.3. Lauric Fats
- 5.1.1.4. Creaming Fats
- 5.1.1.5. Anhydrous Milk Fats
- 5.1.1.6. Butter
- 5.1.1.7. Margarine
- 5.1.1.8. Shortenings
- 5.1.1.9. Other
- 5.1.2. BPS Analysis/Market Attractiveness Analysis
- 5.2. Europe Specialty Fats and Oils Market Outlook, by End Use, Value (US$ Bn), 2019 – 2031
- 5.2.1. Key Highlights
- 5.2.1.1. Industrial
- 5.2.1.2. Food and Beverages
- 5.2.1.3. Personal Care and Cosmetics
- 5.2.1.4. Commercial
- 5.2.1.5. Household
- 5.2.1.6. Others
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
- 5.3. Europe Specialty Fats and Oils Market Outlook, by Country, Value (US$ Bn), 2019 – 2031
- 5.3.1. Key Highlights
- 5.3.1.1. Germany Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 5.3.1.2. Germany Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 5.3.1.3. U.K. Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 5.3.1.4. U.K. Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 5.3.1.5. France Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 5.3.1.6. France Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 5.3.1.7. Italy Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 5.3.1.8. Italy Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 5.3.1.9. Turkey Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 5.3.1.10. Turkey Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 5.3.1.11. Russia Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 5.3.1.12. Russia Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 5.3.1.13. Rest of Europe Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 5.3.1.14. Rest of Europe Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
- 6. Asia Pacific Specialty Fats and Oils Market Outlook, 2019 – 2031
- 6.1. Asia Pacific Specialty Fats and Oils Market Outlook, by Product, Value (US$ Bn), 2019 – 2031
- 6.1.1. Key Highlights
- 6.1.1.1. Specialty Oils
- 6.1.1.2. Specialty Fats
- 6.1.1.3. Lauric Fats
- 6.1.1.4. Creaming Fats
- 6.1.1.5. Anhydrous Milk Fats
- 6.1.1.6. Butter
- 6.1.1.7. Margarine
- 6.1.1.8. Shortenings
- 6.1.1.9. Other
- 6.1.2. BPS Analysis/Market Attractiveness Analysis
- 6.2. Asia Pacific Specialty Fats and Oils Market Outlook, by End Use, Value (US$ Bn), 2019 – 2031
- 6.2.1. Key Highlights
- 6.2.1.1. Industrial
- 6.2.1.2. Food and Beverages
- 6.2.1.3. Personal Care and Cosmetics
- 6.2.1.4. Commercial
- 6.2.1.5. Household
- 6.2.1.6. Others
- 6.2.2. BPS Analysis/Market Attractiveness Analysis
- 6.3. Asia Pacific Specialty Fats and Oils Market Outlook, by Country, Value (US$ Bn), 2019 – 2031
- 6.3.1. Key Highlights
- 6.3.1.1. China Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 6.3.1.2. China Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 6.3.1.3. Japan Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 6.3.1.4. Japan Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 6.3.1.5. South Korea Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 6.3.1.6. South Korea Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 6.3.1.7. India Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 6.3.1.8. India Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 6.3.1.9. Southeast Asia Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 6.3.1.10. Southeast Asia Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 6.3.1.11. Rest of Asia Pacific Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 6.3.1.12. Rest of Asia Pacific Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
- 7. Latin America Specialty Fats and Oils Market Outlook, 2019 – 2031
- 7.1. Latin America Specialty Fats and Oils Market Outlook, by Product, Value (US$ Bn), 2019 – 2031
- 7.1.1. Key Highlights
- 7.1.1.1. Specialty Oils
- 7.1.1.2. Specialty Fats
- 7.1.1.3. Lauric Fats
- 7.1.1.4. Creaming Fats
- 7.1.1.5. Anhydrous Milk Fats
- 7.1.1.6. Butter
- 7.1.1.7. Margarine
- 7.1.1.8. Shortenings
- 7.1.1.9. Other
- 7.1.2. BPS Analysis/Market Attractiveness Analysis
- 7.2. Latin America Specialty Fats and Oils Market Outlook, by End Use, Value (US$ Bn), 2019 – 2031
- 7.2.1. Key Highlights
- 7.2.1.1. Industrial
- 7.2.1.2. Food and Beverages
- 7.2.1.3. Personal Care and Cosmetics
- 7.2.1.4. Commercial
- 7.2.1.5. Household
- 7.2.1.6. Others
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
- 7.3. Latin America Specialty Fats and Oils Market Outlook, by Country, Value (US$ Bn), 2019 – 2031
- 7.3.1. Key Highlights
- 7.3.1.1. Brazil Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 7.3.1.2. Brazil Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 7.3.1.3. Mexico Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 7.3.1.4. Mexico Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 7.3.1.5. Argentina Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 7.3.1.6. Argentina Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 7.3.1.7. Rest of Latin America Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 7.3.1.8. Rest of Latin America Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
- 8. Middle East & Africa Specialty Fats and Oils Market Outlook, 2019 – 2031
- 8.1. Middle East & Africa Specialty Fats and Oils Market Outlook, by Product, Value (US$ Bn), 2019 – 2031
- 8.1.1. Key Highlights
- 8.1.1.1. Specialty Oils
- 8.1.1.2. Specialty Fats
- 8.1.1.3. Lauric Fats
- 8.1.1.4. Creaming Fats
- 8.1.1.5. Anhydrous Milk Fats
- 8.1.1.6. Butter
- 8.1.1.7. Margarine
- 8.1.1.8. Shortenings
- 8.1.1.9. Other
- 8.1.2. BPS Analysis/Market Attractiveness Analysis
- 8.2. Middle East & Africa Specialty Fats and Oils Market Outlook, by End Use, Value (US$ Bn), 2019 – 2031
- 8.2.1. Key Highlights
- 8.2.1.1. Industrial
- 8.2.1.2. Food and Beverages
- 8.2.1.3. Personal Care and Cosmetics
- 8.2.1.4. Commercial
- 8.2.1.5. Household
- 8.2.1.6. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
- 8.3. Middle East & Africa Specialty Fats and Oils Market Outlook, by Country, Value (US$ Bn), 2019 – 2031
- 8.3.1. Key Highlights
- 8.3.1.1. GCC Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 8.3.1.2. GCC Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 8.3.1.3. South Africa Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 8.3.1.4. South Africa Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 8.3.1.5. Egypt Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 8.3.1.6. Egypt Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 8.3.1.7. Nigeria Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 8.3.1.8. Nigeria Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 8.3.1.9. Rest of Middle East & Africa Specialty Fats and Oils Market by Product, Value (US$ Bn), 2019 – 2031
- 8.3.1.10. Rest of Middle East & Africa Specialty Fats and Oils Market by End Use, Value (US$ Bn), 2019 – 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
- 9. Competitive Landscape
- 9.1. Manufacturer vs by End Use Heatmap
- 9.2. Company Market Share Analysis, 2024
- 9.3. Competitive Dashboard
- 9.4. Company Profiles
- 9.4.1. Cargill Inc
- 9.4.1.1. Company Overview
- 9.4.1.2. Product Portfolio
- 9.4.1.3. Financial Overview
- 9.4.1.4. Business Strategies and Development
- 9.4.2. Wilmar International Ltd
- 9.4.3. Kiril Mischeif
- 9.4.4. Riviana Foods Pty Ltd
- 9.4.5. Nestle S.A.
- 9.4.6. The Hain Celestial Group Inc
- 9.4.7. The Kraft Heinz Co.
- 9.4.8. Ariza B.V.
- 9.4.9. Newberry International Produce Ltd
- 9.4.10. Grunewald Fruchtsaft GmbH
- 9.4.11. Tree Top Inc.
- 9.4.12. Hiltfields Ltd
- 9.4.13. Shimla Hills Pfferings Pvt Ltd
- 9.4.14. Antigua Processors S.A.
- 9.4.15. SunOpta Grains and Food Inc
- 10. Appendix
- 10.1. Research Methodology
- 10.2. Report Assumptions
- 10.3. Acronyms and Abbreviations
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