Specialty Fats & Oils Market:
Growth opportunities in the specialty fats & oils market look promising over the next six years. This is mainly due to the increasing preference for natural products as compared to artificial chemicals in the beauty and personal care sector and rising demand for nutritional food products.
Specialty Fats & Oils Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Some of the prominent drivers responsible for the growth of the specialty fats & oils market includes the surging consumption of processed and baker food items accompanied with the growing demand for nourished food products throughout the world. Also, these fats include cocoa butter equivalents or replacers are increasingly used as an alternative for cocoa beans owing to the large-scale impediment in the total production of cocoa led by the consequential shift in the climatic conditions. Furthermore, the growing inclination towards organic products compared to artificial chemicals in beauty and personal care industry further strengthens the specialty fats & oils market size.
The increasing consciousness towards sustainable and environmental products accompanied by the accelerating millennial population has augmented the market growth. However, the rising health awareness concerned with the excess consumption of fats and oils is hindering the specialty fats & oils market share. The outrageous consumption of hydrogenated fats and oils raises the risk of thrombosis led by the increase in the levels of LDLs (low-density lipoproteins) and lowers the level of HDLs (high-density lipoproteins) in the blood.
Application Segment Drivers
Based on the application, the infant nutrition is expected to witness a faster CAGR over the forecast period. This is primarily attributed to the growing focus on feeding infants with infant food lipids and formulas, which are same as mother’s milk. The mother’s milk differs because of the distinct diet patterns across several sectors in world resulting in an obstacle to form optimum level of nourishment. This factor has persuaded manufactures to implement these fats and oils for proper fatty acid composition. One of the major producers of value-adding specialty fats extracted from natural and vegetable sources, AAK AB, is prioritizing infant’s health by offering health specialty fats & oils. For instance, Akonino, a customized designed product range for a baby’s nutrition with natural composition and remarkable benefits.
Specialty Fats & Oils Market’s leading Manufacturers:
- BAKO WALES
- FUJI OIL CO., LTD.
- AAK AB
- Wilmar International Ltd.
- Manildra Group
- BASF SE
- Mewah Group
- Cargill, Incorporated
- Bunge Limited
- IFFCO
Specialty Fats & Oils Market Segmentation:
Segmentation by Type
- Specialty Fats
- Cocoa Butter Equivalents
- Cocoa Butter Substitutes
- Cocoa Butter Replacers
- Cocoa Butter Improvers
- Dairy Fat Replacers
- Others
- Specialty Oils
- Palm Oil
- Soybean Oil
- Coconut Oil
- Rapeseed Oil
- Others
Segmentation by Application
- Chocolates & Confectionery
- Bakery Products
- Processed Foods
- Animal Nutrition
- Dairy products
- Infant Nutrition
- Others
Segmentation by Form
- Dry
- Liquid
Segmentation by Functionality
- Molding
- Filling
- Coating
- Stabilizing
- Texturing
- Others
- Public Cloud
- Private Cloud
- Hybrid Cloud
Segmentation by Component
- Platform
- Services
Segmentation by End-Use Industry
- Retail
- Power & Energy
- Healthcare
- Telecommunications
- BFSI
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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