Global Specialty Fats & Oils Market

Specialty Fats & Oils Market Insights

Specialty fats are vegetable fats used in ice creams, infant formula, chocolate, spreads and fillings, and dairy products among others.  Whereas specialty oils are different from commodity oils, used in many applications such as supplements, cosmetics, and unique culinary applications. Specialty fats are categorized into cocoa butter equivalent, CB replacer, and CB substitute. Cocoa butter equivalent fats work by improving shelf life and the value of certain products.  The growing demand for nutritional food products and processed food products among consumers; the increasing consumption of processed food and bakery food products; and changing lifestyle and food habits among consumers in developing nations are driving the market growth. Moreover, these fats and oils are also used as a substitute for cocoa butter in the food industry making it one of the most demanding raw materials.

Specialty Fats & Oils Market: By Form

Based on the form, the market can be bifurcated into liquid and dry. The dry segment will grow rapidly during the forecast period as compared to the liquid segment. The dry oils are made from vegetables, herbs, or seeds. This kind of dry oil includes avocado oils, sunflower oils, and grapeseed oil among others. Given these oil's multitude of uses, their varied application in the cosmetic and food industry would drive the segment growth.

Specialty Fats & Oils Market: By Functionality

Based on functionality, the market is divided into moulding, filling, coating, stabilizing, texturing, and other functions. The coating fats segment will yield maximum revenue in this market, as they tend to safeguard the bakery and confectionery products from damage and loss of moisture. Also, their applications in wafers, biscuits, and bakery coatings make their acceptance and demand rate high in such systems.

Specialty Fats & Oils Market: By Type

Given the type, the market can be bifurcated into specialty oils and fats. The specialty oils segment will grow rapidly in this market due to its wide use as lubricants in the cosmetic industry and cooking oil segment. Specialty oils are extracted from sunflower, palm, rapeseed, coconuts, and soybeans among others. The growing demand for fast foods such as fried snacks and frozen pre-fried food items are driving the market growth.

Specialty Fats & Oils Market: By Application

Based on the application, the market can be divided into bakery products, processed foods, animal nutrition, dairy products, infant nutrition, chocolates & confectionery, and other applications. The infant nutrition segment will be the fastest-growing segment in this market. Infant formula works as a great source of nutrition for infants. Manufacturers delivering high-end lipid ingredients tailor make items for infant’s nutrition which in turn will drive the market growth. The chocolates and confectionery segment would also grow at a high CAGR during the forecast period due to the availability of specialty fats for all confectionery needs, the presence of filling fats for varied applications, and also low trans fatty acids to serve the requirements of clean labeling.

Specialty Fats & Oils Market: By Region

North America will be the fastest-growing region in this market as it is the largest base for the producers of processed foods, have the finest chocolate range, and also has one of the largest consumer bases. The growing preference for processed food in the region is driving the market growth. The Asia-Pacific region will grow rapidly in this market as India’s confectionery market is the fastest-growing market.

Specialty Fats & Oils  Market Share and Competitive analysis

Some of the key players operating in the market include ADM SIO, Besler, Danoil, Sdn Bhd, Premium Group, Nine stars worldwide, Fuji Sunny Foods Corp. Pte.Ltd., Delta Wilmar,  Marvic Vegetable oil, bert& sons agro Industrial Ltd, Fuji Oil, AAK, Cargill, and Usha edible Oil among others.

Please note: This is not an exhaustive list of companies profiled in the report.