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Specialty Fats and Oils Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

Global Specialty Fats and Oils Market: By Product Type (Fats and Oils); By Application (Bakery, Confectionery, Cosmetics, Dairy Products, Home Cooking, Pharmaceutical Products); By End User (F&B, Pharma, Hospitality, Residential, Others); By Distribution Channel (Online and Offline); and By Country)—Industry Dynamics, Market Size, Opportunity and Forecast till 2030

  • Published Date: 07-Dec-2022  |   Format: pdfpowerpointexcel  |  Report ID: AA1222335  | Delivery: 2 to 4 Hours
Specialty Fats and Oils Market

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Report AttributeDetails
Market Size Value in 2021US$ 13,156.2 Million
Expected Revenue in 2030US$ 25,970.3 Million
Historic Data2017-2020
Base Year2021
Forecast Period2022-2030
UnitValue (USD Mn)
Segments coveredBy Product Type, By Application, By End-User, By Distribution Channel, By Region
Key Companies                                                                        AAK AB, BASF SE, Bunge Limited, Cargill, D&L Industries, Fuji Oil Co. Ltd, IOI Corporation, Mewah International Inc, Wilmar International, Dulzer, IFFCO, Intercontinental Specialty Fats Sdn. Bhd, Musim Mas, Other Prominent Players
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The Specialty Fats and Oils Market was valued at US$ 13,156.2 Million in 2021.

The Specialty Fats and Oils Market has been estimated to grow with a compound annual growth rate of 7.8% during the forecast year 2030.

The parameters which are boosting the market include fluctuations in cocoa production across the world and a rise in the adoption and consumption of healthier versions of foods.

There are numerous applications of specialty fats and oils such as cosmetics, dairy, bakery, home cooking, and pharmaceutical products. Confectionary industries are dominating the market as these are rapidly shifting towards clean labels and healthier choice ingredients.

The largest user of specialty fats and oils is the food and beverages industry dealing with numerous products including bakery, confectionery, and dairy products.

In the foreseeable future, the Asia Pacific region is most likely to offer the highest profit margins.

In terms of distribution channels, the offline segment holds 80.8% of the global market share in 2021.

On the basis of type, the specialty oils segment occupies a major share of 78% in the market in 2021. 

As a result of the coronavirus crisis, there was a change in both supply and demand for specialized fats and oils on the international market, along with rising price uncertainty. Numerous nations were making efforts to keep the market stable. Despite the lockdowns, governments from nations including India, China, and the US granted exemptions to the sector, allowing them to operate at a reduced capacity.

The rising health concerns pertaining to excessive consumption of fats & oils are hindering the market growth.

Consumption of specialty fats & oils has been increasing in several industrial applications owing to the growing demand for value-added ingredients across various industrial sectors.

Key players in the specialty fats & oils market are Cargill, Incorporated, Wilmar International, Bunge Limited, AAK AB, Mehwah International, IOI Loders Croklaan among others.