About Speciality Fat and Oils
The global Speciality Fat and Oils market is expected to witness high demand in the forecasted period due to the high consumption of dairy and confectionery products. Specialty fats are the distinct category of vegetable fats used as substitutes for other types of fat products that are used as dietary supplements and find exceptionality among commodity oils. Specialty fats - oils are designed in the various applications for molding, coating, filling, and extrusion.
Attributes | Details |
---|
Study Period | 2020-2032 |
Base Year | 2024 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 6.7% |
The global specialty fats and the oil market seems to be highly competitive. The major market players have used various strategies, such as new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions, to increase their footprints in the market studied. The major players in the food industry are investing in R&D activities to expand their specialty fat and oil product portfolios and attract more consumers by providing innovative products. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Speciality Fat and Oils market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bunge Limited (United States), AAK AB (Sweden), Cargill, Incorporated (United States), Wilmar International (Singapore), Mehwah International (Singapore), IOI Loders Croklaan (Malaysia), Manildra (Australia), Fuji Oil (Japan), Musim Mas (Singapore) and IFFCO (UAE) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Speciality Fat and Oils market by Type (Specialty Fats [Cocoa Butter Equivalents, Cocoa Butter Substitutes, Cocoa Butter Replacers, Cocoa Butter Improvers, Dairy Fat Replacers, Others] and Specialty Oils [Palm oil, Coconut oil, Soybean oil, Sunflower oil, Rapeseed oil, Others]), Application (Chocolates & confectionery, Bakery products, Processed foods, Animal nutrition, Dairy products, Infant nutrition and Others) and Region.
On the basis of geography, the market of Speciality Fat and Oils has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2024. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Functionality, the sub-segment i.e. Molding will boost the Speciality Fat and Oils market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Dry will boost the Speciality Fat and Oils market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The increased demand for bakery and confectionery products and The increased demand for alternatives and added-value ingredients
Market Growth Drivers:
The rising demand due to Fluctuations in global cocoa production and High demand due to increasingly used to enhance product performance and ensure higher consumer acceptance
Challenges:
High dependence on imports, leading to high costs of end products
Restraints:
The increasing concern related to the Health pertaining to the excessive consumption of fats and oils and The issue related to uncertain weather conditions
Opportunities:
High adoption from natural cosmetic products and The growing demand from the developing countries due to the expansion of the food industry
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.
Key Target Audience
Speciality Fat and Oils Manufacturer, Distributors, Suppliers, Government Regulatory Bodies, Private Research Organization, Government Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.