Global Specialty Fats and Oils Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Specialty Fats and Oils Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The steady onset of factors such as the rise in consumption of bakery and processed food products, increase in demand for nutritional food products as well as the growth and the rising living standards of wide sections of the population, particularly in emerging and developing markets have triggered a demand for different types edible fats & oils. Growing concern over the use of healthy fats and oils as an ingredient has enthused the dairy-based product manufacturers to search for alternatives. Specialty fats and oils are one such alternative with low-calorie and cholesterol contents, superior gloss retention, and excellent flavor releasing properties. Specialty fats and oils are used as an alternative to saturated fats and exhibit excellent elasticity, and fat crystallization properties at lower. The characteristics of specialty fats products are very different from the fat in general such as margarine, shortening, pastry fat, filling / cream fat, and the others.

Market Overview:

The latest research study on the global Specialty Fats and Oils market finds that the global Specialty Fats and Oils market reached a value of USD 58197.83 million in 2022. It’s expected that the market will achieve USD 73469.05 million by 2028, exhibiting a CAGR of 3.96% during the forecast period.

Factors Challenging the Market

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 affecting the confectionery fats & shortenings market, and in turn, the confectionery ingredients and specialty fats & oils market.
The development of specialty fats and oils industry is not balanced. Some regions have formed a complete industrial chain with a large market share, while some regions do not have mature and perfect operating chains or complete operating ecological chains, which is not conducive to the development of the industry. Some countries have backward economy and low level of science and technology, the standard of living is not high, either, making it difficult for the specialty fats and oils industry to develop.

At the same time, there is a significant gap between the demand and supply of oilseed processed products, such as edible oil, owing to the limited availability of oilseeds in some domestic markets. India and European countries import palm oil on a large scale from Indonesia and Malaysia, which are the leading producers, owing to the favorable climatic conditions of these countries. Palm oil is widely used in the confectionery products sector, which experiences high demand in India and other European countries, but the high dependence on imports, leading to high costs of end products

Besides, the price fluctuation of oil crops resulting from weather, political and economic instability is also expected to hamper the specialty fats & oils market growth.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

Bunge is one of the major players operating in the Specialty Fats and Oils market, holding a share of 17.81% in 2020.

Bunge has more than two centuries of experience, unmatched global scale and deeply rooted relationships everywhere we operate.

Bunge provides ingredients and know-how to some of the world’s biggest brands. Bunge’s products, such as specialty oils and milled grains, are key ingredients for consumer and restaurant brands – and in-home kitchens around the world.

Cargill’s team of 155,000 professionals in 70 countries draws together the worlds of food, agriculture, nutrition and risk management. For more than 155 years, Cargill has helped farmers grow more, connecting them to broader markets. Cargill is continuously developing products that give consumers just what they’re seeking, advancing nutrition, food safety and sustainability. And Cargill help all of the partners innovate and manage risk, so they can nourish the world again tomorrow.

Segmentation Overview:

Among different product types, Specialty Oils segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Commercial (Hotel/Restaurant/Cafe) segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Specialty Fats and Oils market covered in Chapter 3:

Bunge
Apical Group
Musim Mas
Fuji Oil
Liberty Oil Mills
Archer Daniels Midland
IFFCO
Puratos
AAK AB
Wilmar International
Mewah
Cargill
Adams Group
Nisshin OilliO Group
PRESCO
The Hain Celestial Group
Oleo-Fats
Ventura Foods

In Chapter 4 and Chapter 14.2, on the basis of types, the Specialty Fats and Oils market from 2018 to 2029 is primarily split into:

Specialty Oils(Palm Oil/Soya Oil/Peanut Oil)
Specialty Fats(Cocoa Butter Substitutes/Lauric Fats/Creaming Fats)

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Specialty Fats and Oils market from 2018 to 2029 covers:

Food and Beverages Industry
Personal Care and Cosmetics
Commercial (Hotel/Restaurant/Cafe)
Household

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)