HOME Top Market Reports Specialty Fats & Oils Market by Oil Type (Palm, Soybean, Rapeseed, Coconut, Cottonseed), Fat Type (CBE, CBR, CBS, CBI, Dairy Fat Replacers), Application (Chocolate & Confectionery, Bakery, Dairy), Form, and Region - Global Forecast to 2022

Specialty Fats & Oils Market by Oil Type (Palm, Soybean, Rapeseed, Coconut, Cottonseed), Fat Type (CBE, CBR, CBS, CBI, Dairy Fat Replacers), Application (Chocolate & Confectionery, Bakery, Dairy), Form, and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: January 2017
Report Code: FB 4946

 

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The global specialty oils market is projected to grow at a CAGR of 6.4% to reach USD 20.15 Billion by 2022 in terms of value, whereas the global specialty fats market is projected to grow at a CAGR of 9.7% to reach USD 3.45 Billion by 2022. The objective of this study is to define, segment, and project the size of the specialty fats & oils market on the basis of specialty oil type, specialty fat type, application, form, brand, and region, and to provide detailed information about the crucial factors influencing market dynamics (drivers, restraints, opportunities, and industry-specific challenges). The market opportunities and competitive landscape of market leaders are also studied for the stakeholders. Competitive developments such as expansions & investments, partnerships, agreements, joint ventures & collaborations, new product launches, and acquisitions, in the specialty fats & oils market are covered in the study.

The years considered for the study are as follows:

  • Base year: 2015
  • Estimated year: 2016 & 2017
  • Projected year: 2022
  • Forecast period: 2017 to 2022

Research Methodology

This report includes estimations of market sizes in terms of value (USD million). Both top-down and bottom-up approaches have been used to estimate and validate the size of the specialty fats & oils market and of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market share in respective regions has been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources, such as reports published by Institute of Shortening and Edible Oils (ISEO), American Oil Chemists' Society (AOCS), and the Argentina Association of Fats and Oils (ASAGA), and have been verified through primary sources.

Specialty Fats & Oils Market

To know about the assumptions considered for the study, download the pdf brochure

Market Ecosystem

The various contributors involved in the value chain of specialty fats & oils include oilseed growers, fats & oils processors, manufacturers, suppliers, distributors, intermediaries, and end-use industries. Various types of oilseed grow in different regions Asia-Pacific countries are major suppliers of palm oil and palm kernel oil-based specialty fats & oils, while European and North American countries are large-scale suppliers of rapeseed oil and soybean oil-based specialty fats & oils, respectively. The leading players in the market prefer a vertically integrated business model, which includes procuring the oilseed, crushing, refining, processing, blending, and byproduct production such as oleochemicals and feed. Maximum value addition is observed in the stages such as oil fractionation process, oil blending, and packaging.

The market is dominated by key players such as Bunge Limited (U.S.), International Foodstuff Company Holdings Limited (UAE), Wilmar International Limited (Singapore), and Cargill, Incorporated (U.S.). Other players in this segment include AarhusKarlshamn (Sweden), IOI Group (Malaysia), Olenex (Switzerland), Musim Mas Holdings Pte. Ltd (Singapore), and Mewah Group (Singapore).

Target Audience:

  • Raw material suppliers/growers
  • Oilseed suppliers/growers
  • Fat and/or oil processors/manufacturers
  • Intermediary suppliers
    • Wholesalers
    • Retailers
    • Dealers
  • Consumers
    • Processed food manufacturers
    • Chocolate & confectionery manufacturers
    • Bakery & dairy manufacturers
    • Feed additive manufacturers
    • Personal care & cosmetics companies
  • Research institutes and organizations
  • Government bodies, venture capitalists, and private equity firms

Scope of the Report

Based on Type, the market has been segmented as follows:

  • Specialty oil type
    • Palm oil
    • Soybean oil
    • Coconut oil
    • Cottonseed oil
    • Rapeseed oil
    • Others (olive oil and peanut oil)
  • Specialty fat type
    • Cocoa butter equivalents
    • Cocoa butter substitutes
    • Cocoa butter replacers
    • Cocoa butter improvers
    • Dairy fats replacers
    • Exotic fats (sal, kokum butter, mango kernel butter)

Based on Application, the market has been segmented as follows:

  • Chocolate & confectionery
  • Bakery
  • Dairy
  • Processed foods
  • Other (personal care, cosmetics, and animal feed)

Based on Form, the market has been segmented as follows:

  • Dry
  • Liquid

Based on Region, the market has been segmented as follows:

  • North America
  • Europe
  • Asia-Pacific
  • RoW

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the client-specific needs.

The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Application Analysis

  • Application analysis, which gives a detailed analysis of personal care and cosmetics application in specialty fats & oils

Regional Analysis

  • Further breakdown of the Rest of European specialty fats & oils market into Denmark, Finland, Sweden, Belgium, and Western European countries
  • Further breakdown of the Rest of Asia-Pacific specialty fats & oils market into Pakistan, Philippines, Thailand, and Japan
  • Further breakdown of the RoW specialty fats & oils market

Company Information

  • Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Market Definition
           1.2.1 Specialty Oils (Vegetable)
           1.2.2 Specialty Fats
    1.3 Study Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries By Company Type, Designation & Region
    2.2 Macro Economic Indicators 
           2.2.1 Developing Economies With Emerging Middle-Income Population and Increasing Per Capita Income & Consumption
    2.3 Market Size Estimation
    2.4 Bottom-Up Approach
    2.5 Top Down Approach
    2.6 Market Breakdown & Data Triangulation
    2.7 Research Assumptions & Limitations
           2.7.1 Assumptions
           2.7.2 Limitations

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 34)
    4.1 Attractive Marketing Opportunities in Specialty Oils Market
    4.2 Specialty Fats Market Size, By Type
    4.3 North America Specialty Oils Market: By Country and By Type
    4.4 Specialty Oils Market: Major Countries
    4.5 Specialty Fats Market Life Cycle Analysis, By Region

5 Industry Trends (Page No. - 39)
    5.1 Introduction
    5.2 Value Chain Analysis
    5.3 Supply Chain Analysis
    5.4 Industry Trends

6 Market Overview (Page No. - 43)
    6.1 Introduction
    6.2 Market Segmentation
    6.3 Market Dynamics
           6.3.1 Drivers
                    6.3.1.1 Increasing Demand of Cocoa Butter Alternative Fats
                    6.3.1.2 Increase in the Consumption of Bakery & Confectionery and Processed Foods
                    6.3.1.3 Rising Demand of Viennoiseries and Patisserie Products to Fuel the Demand of Bakery Fats for Filling Applications
           6.3.2 Restraints
                    6.3.2.1 Health Concerns Related to Excessive Consumption of Fats and Oils
           6.3.3 Opportunities
                    6.3.3.1 Demand for Clean Label Products From Consumers
           6.3.4 Challenges
                    6.3.4.1 Consumer Perception Towards “Chocolate Flavoured Products”, Chocolate Products and Labelling of Products

7 Specialty Fats & Oils Market, By Type (Page No. - 50)
    7.1 Introduction
    7.2 Specialty Fats
           7.2.1 Cocoa Butter Equivalents
           7.2.2 Cocoa Butter Substitutes
           7.2.3 Cocoa Butter Replacers
           7.2.4 Cocoa Butter Improvers
           7.2.5 Dairy Fat Replacers
           7.2.6 Exotic Fats
    7.3 Specialty Oils
           7.3.1 Palm Oil
           7.3.2 Soybean Oil
           7.3.3 Coconut Oil
           7.3.4 Cottonseed Oil
           7.3.5 Rapeseed Oil
           7.3.6 Others (Olive Oil, Peanut Oil)

8 Global Specialty Fats and Oils Market, By Application (Page No. - 67)
    8.1 Introduction
    8.2 Chocolate & Confectionery
    8.3 Bakery
    8.4 Processed Foods
    8.5 Dairy
    8.6 Others

9 Specialty Fats & Oils Market, By Form (Page No. - 79)
    9.1 Introduction
    9.2 Liquid
    9.3 Dry (Crystalline)

10 Specialty Fats & Oils Market, By Function (Page No. - 84)
     10.1 Introduction
     10.2 Molding
     10.3 Fillings
     10.4 Coating

11 Specialty Fats & Oils Market, By Brand (Page No. - 86)
     11.1 Introduction
     11.2 Cargill, Incorporated: Socolate, Hysoc, and Cocolate
            11.2.1 Socolate
            11.2.2 Hysoc
            11.2.3 Cocolate
     11.3 Wilmar International Limited: Wilchoc, Besschoc, and Wilflakes
            11.3.1 Wilchoc
            11.3.2 Besschoc
            11.3.3 Wilflakes
     11.4 Musim Mas Holdings
            11.4.1 Cbe Choco
            11.4.2 Goldfiller
            11.4.3 Chocoxan

12 Specialty Fats & Oils Market, By Region (Page No. - 89)
     12.1 Introduction
             12.1.1 U.S.
             12.1.2 Canada
             12.1.3 Mexico
     12.2 Europe
             12.2.1 The Netherlands
             12.2.2 Germany
             12.2.3 Italy
             12.2.4 U.K.
             12.2.5 Spain
             12.2.6 Rest of Europe
     12.3 Asia-Pacific
             12.3.1 China
             12.3.2 India
             12.3.3 Malaysia
             12.3.4 Indonesia
             12.3.5 Rest of Asia-Pacific
     12.4 Rest of the World
             12.4.1 Latin America
             12.4.2 Middle East & Africa

13 Competitive Landscape (Page No. - 122)
     13.1 Overview
     13.2 Ranking Analysis
     13.3 Competitive Situations & Trends
             13.3.1 New Product Launches
             13.3.2 Acquisitions
             13.3.3 Joint Ventures
             13.3.4 Expansions
             13.3.5 Collaborations &Partnerships
             13.3.6 Agreements &Investments

14 Company Profiles (Page No. - 129)
     14.1 Introduction
     14.2 Cargill
             14.2.1 Business Overview
             14.2.2 Products Offered
             14.2.3 Recent Developments
             14.2.4 MnM View
                        14.2.4.1 SWOT Analysis
             14.2.5 Key Strategies
     14.3 Wilmar International Limited
             14.3.1 Business Overview
             14.3.2 Products Offered
             14.3.3 Recent Developments
             14.3.4 MnM View
                        14.3.4.1 SWOT Analysis
             14.3.5 Key Strategies
     14.4 Bunge Limited
             14.4.1 Business Overview
             14.4.2 Products Offered
             14.4.3 Recent Developments
             14.4.4 MnM View
                        14.4.4.1 SWOT Analysis
             14.4.5 Key Strategies
     14.5 AAK AB
             14.5.1 Business Overview
             14.5.2 Products Offered
             14.5.3 Recent Developments
             14.5.4 MnM View
                        14.5.4.1 SWOT Analysis
             14.5.5 Key Strategies
     14.6 IOI Group
             14.6.1 Business Overview
             14.6.2 Products Offered
             14.6.3 Recent Developments
             14.6.4 MnM View
                        14.6.4.1 SWOT Analysis
             14.6.5 Key Strategies
     14.7 International Foodstuff Company Holdings Limited (Iffco)
             14.7.1 Business Overview
             14.7.2 Products Offered
     14.8 Olenex
             14.8.1 Business Overview
             14.8.2 Products Offered
     14.9 Musim Mas Holdings
             14.9.1 Business Overview
             14.9.2 Products Offered
             14.9.3 Recent Developments
     14.10 Mewah Group
             14.10.1 Business Overview
             14.10.2 Products Offered
     14.11 Intercontinental Specialty Fats SDN. BHD
             14.11.1 Business Overview
             14.11.2 Products Offered

15 Appendix (Page No. - 167)
     15.1 Discussion Guide
     15.2 Introducing RT: Real-Time Market Intelligence
     15.3 Available Customizations
     15.4 Related Reports


List of Tables (99 Tables)

Table 1 Properties of Majorly Consumed Specialty Fats
Table 2 Global Specialty Fats Market Size, By Type, 2015-2022, (USD Million)
Table 3 Global Specialty Fats Market Size, By Type, 2015-2022, (KT)
Table 4 Cocoa Butter Equivalents: Specialty Fats Market Size, By Application, 2015-2022, (USD Million)
Table 5 Cocoa Butter Equivalents: Specialty Fats Market Size, By Application, 2015-2022, (KT)
Table 6 Cocoa Butter Substitutes: Specialty Fats Market Size, By Application, 2015-2022, (USD Million)
Table 7 Cocoa Butter Substitutes: Specialty Fats Market Size, By Application, 2015-2022, (KT)
Table 8 Cocoa Butter Replacers: Specialty Fats Market Size, By Application, 2015-2022, (USD Million)
Table 9 Cocoa Butter Replacers: Specialty Fats Market Size, By Application, 2015-2022, (KT)
Table 10 Cocoa Butter Improvers: Specialty Fats Market Size, By Application, 2015-2022, (USD Million)
Table 11 Cocoa Butter Improvers: Specialty Fats Market Size, By Application, 2015-2022, (KT)
Table 12 Dairy Fat Replacers: Specialty Fats Market Size, By Application, 2015-2022, (USD Million)
Table 13 Dairy Fat Replacers: Specialty Fats Market Size, By Application, 2015-2022, (KT)
Table 14 Exotic Fats: Specialty Fats Market Size, By Application, 2015-2022, (USD Million)
Table 15 Exotic Fats: Specialty Fats Market Size, By Application, 2015-2022, (KT)
Table 16 Global Specialty Oils Market Size, By Type, 2015-2022, (USD Million)
Table 17 Global Specialty Oils Market Size, By Type, 2015-2022, (KT)
Table 18 Global Specialty Oils Market Size, By Application, 2015-2022, (USD Million)
Table 19 Global Specialty Fats Market Size, By Application, 2015-2022, (USD Million)
Table 20 Chocolates & Confectioneries: Specialty Fats Market Size, By Type, 2015-2022, (USD Million)
Table 21 Chocolate & Confectioneries: Specialty Fats Market Size, By Type, 2015-2022, (KT)
Table 22 Bakery: Specialty Fats Market Size, By Type, 2015-2022, (USD Million)
Table 23 Bakery: Specialty Fats Market Size, By Type, 2015-2022, (KT)
Table 24 Processed Foods: Specialty Fats Market Size, By Type, 2015-2022, (USD Million)
Table 25 Processed Foods: Specialty Fats Market Size, By Type, 2015-2022, (KT)
Table 26 Dairy: Specialty Fats Market Size, By Type, 2015-2022, (USD Million)
Table 27 Dairy: Specialty Fats Market Size, By Type, 2015-2022, (KT)
Table 28 Other Application: Specialty Fats Market Size, By Type, 2015-2022, (USD Million)
Table 29 Others: Specialty Fats Market Size, By Type, 2015-2022, (KT)
Table 30 Specialty Oils Market Size, By Form 2015–2022 (USD Million)
Table 31 Specialty Oils Market Size, By Form 2015–2022 (KT)
Table 32 Specialty Fats Market Size, By Form 2015–2022 (USD Million)
Table 33 Specialty Fats Market Size, By Form 2015–2022 (USD Million)
Table 34 Global Specialty Oils Market Size, By Region, 2015-2022, (USD Million)
Table 35 Global Specialty Oils Market Size, By Type, 2015-2022, (KT)
Table 36 Global Specialty Fats Market Size, By Region, 2015-2022, (USD Million)
Table 37 Global Specialty Fats Market Size, By Type, 2015-2022, (KT)
Table 38 North America: Specialty Oils Market Size, By Country, 2015-2022, (USD Million)
Table 39 North America: Specialty Oils Market Size, By Country, 2015-2022, (KT)
Table 40 North America: Specialty Fats Market Size, By Country, 2015-2022, (USD Million)
Table 41 North America: Specialty Fats Market Size, By Country, 2015-2022, (KT)
Table 42 North America: Specialty Oils Market Size, By Application, 2015-2022, (USD Million)
Table 43 North America: Specialty Oils Market Size, By Application, 2015-2022, (KT)
Table 44 North America: Specialty Fats Market Size, By Application, 2015-2022, (USD Million)
Table 45 North America: Specialty Fats Market Size, By Application, 2015-2022, (KT)
Table 46 North America: Specialty Oils Market Size, By Type, 2015-2022, (USD Million)
Table 47 North America: Specialty Fats Market Size, By Type, 2015-2022, (USD Million)
Table 48 Europe: Specialty Oils Market Size, By Country, 2015-2022, (USD Million)
Table 49 Europe: Specialty Oils Market Size, By Country, 2015-2022, (KT)
Table 50 Europe: Specialty Fats Market Size, By Country, 2015-2022, (USD Million)
Table 51 Europe: Specialty Fats Market Size, By Country, 2015-2022, (KT)
Table 52 Europe: Specialty Oils Market Size, By Application, 2015-2022, (USD Million)
Table 53 Europe: Specialty Oils Market Size, By Application, 2015-2022, (KT)
Table 54 Europe: Specialty Fats Market Size, By Application, 2015-2022, (USD Million)
Table 55 Europe: Specialty Fats Market Size, By Application, 2015-2022, (KT)
Table 56 Europe: Specialty Oils Market Size, By Type, 2015-2022, (USD Million)
Table 57 Europe: Specialty Fats Market Size, By Type, 2015-2022, (USD Million)
Table 58 Asia-Pacific: Specialty Oils Market Size, By Country, 2015-2022, (USD Million)
Table 59 Asia-Pacific: Specialty Oils Market Size, By Country, 2015-2022, (KT)
Table 60 Asia-Pacific: Specialty Fats Market Size, By Country, 2015-2022, (USD Million)
Table 61 Asia-Pacific: Specialty Fats Market Size, By Country, 2015-2022, (KT)
Table 62 Asia-Pacific: Specialty Oils Market Size, By Application, 2015-2022, (USD Million)
Table 63 Asia-Pacific: Specialty Oils Market Size, By Application, 2015-2022, (KT)
Table 64 Asia-Pacific: Specialty Fats Market Size, By Application, 2015-2022, (USD Million)
Table 65 Asia-Pacific: Specialty Fats Market Size, By Application, 2015-2022, (KT)
Table 66 Asia-Pacific: Specialty Oils Market Size, By Type, 2015-2022, (USD Million)
Table 67 Asia-Pacific: Specialty Fats Market Size, By Type, 2015-2022, (USD Million)
Table 68 Rest of the World: Specialty Oils Market Size, By Country, 2015-2022, (USD Million)
Table 69 Rest of the World: Specialty Oils Market Size, By Country, 2015-2022, (KT)
Table 70 Rest of the World: Specialty Fats Market Size, By Country, 2015-2022, (USD Million)
Table 71 Rest of the World: Specialty Fats Market Size, By Country, 2015-2022, (KT)
Table 72 Rest of the World: Specialty Oils Market Size, By Application, 2015-2022, (USD Million)
Table 73 Rest of the World: Specialty Oils Market Size, By Application, 2015-2022, (KT)
Table 74 Rest of the World: Specialty Fats Market Size, By Application, 2015-2022, (USD Million)
Table 75 Rest of the World: Specialty Fats Market Size, By Application, 2015-2022, (KT)
Table 76 Rest of the World: Specialty Oils Market Size, By Type, 2015-2022, (USD Million)
Table 77 Rest of the World: Specialty Fats Market Size, By Type, 2015-2022, (USD Million)
Table 78 New Product Launches, 2012–2016
Table 79 Acquisitions, 2012–2016
Table 80 Joint Ventures 2012–2016
Table 81 Expansions, 2012–2016
Table 82 Collaborations and Partnerships 2012– 2016
Table 83 Agreement, and Investment, 2012– 2016
Table 84 Cargill: Products Offered
Table 85 Cargill: Recent Developments
Table 86 Wilmar International Limited: Products Offered
Table 87 Wilmar International Limited: Recent Developments
Table 88 Bunge Limited: Products Offered
Table 89 Bunge Limited: Recent Developments
Table 90 AAK AB: Products Offered
Table 91 AAK AB : Recent Developments
Table 92 IOI Group : Products Offered
Table 93 IOI Group : Recent Developments
Table 94 International Foodstuff Company Limited: Products Offered
Table 95 Olenex : Products Offered
Table 96 Musim Mas Holdings: Products Offered
Table 97 Musim Mas Holdings: Recent Developments
Table 98 Mewah Group: Products Offered
Table 99 Intercontinental Specialty Fats SDN. BHD: Products Offered


List of Figures (43 Figures)

Figure 1 Specialty Fats & Oils Market Segmentation
Figure 2 Specialty Fats & Oils Market: Research Design
Figure 3 Top 5 Economies Based on GDP (PPP) are the U.S., China, Japan, Germany and U.K (2015)
Figure 4 Middle-Income Population in Asia-Pacific is Projected to Grow and Account for the Largest Share in the Global Market By 2030
Figure 5 Increase in Global Per Capita Disposable Income , 2010-2014
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 Data Triangulation Methodology
Figure 9 Specialty Fats Market Snapshot, 2017 & 2022
Figure 10 Specialty Oils Market Size, By Type 2017 & 2022
Figure 11 Chocolate & Confectionery: Most Attractive Application of Specialty Fats & Oils for Investment in Next Five Years
Figure 12 North America Projected to Register High Growth Rate, 2017–2022
Figure 13 Specialty Oils Market Size, By Region, 2017–2022 (USD Million)
Figure 14 Specialty Fats Market Size, By Type, 2017–2022
Figure 15 Soybean Accounted for the Largest Share in North America Specialty Oils Market in 2016
Figure 16 China & India to Grow at Highest CAGR in Specialty Oils Market, 2017-2022
Figure 17 Specialty Fats Market in Europe is Experiencing High Growth
Figure 18 Value Chain Analysis : Major Value is Added During Manufacturing and Assembly Sourcing
Figure 19 Increase in Demand of Welness Products is the Leading Trends Among Key Players
Figure 20 Fats & Oils Market Segmentation
Figure 21 Rising Demand for Bakery & Confectionery and Processed Foods is A Key Driver of the Fats & Oils Market
Figure 22 Global Specialty Oils Market Size, By Form, 2017 & 2022 (USD Million)
Figure 23 Bakery Application Segment Dominated the Specialty Fats Market in the North American Region in 2016
Figure 24 Rapeseed Oil Segment Dominated the Fats & Oils Market in the European Region in 2015
Figure 25 China Dominated the Specialty Oils Market in Asia-Pacific in 2015
Figure 26 Key Companies Preferred Strategies Such as New Product Launches & Acquisitions From 2012 to 2016
Figure 27 New Product Launches: the Key Strategy, 2012–2016
Figure 28 2015 to Be the Most Active Year in the Specialty Fats & Oils Market
Figure 29 Cargill: Company Snapshot
Figure 30 Cargill, Incorporated: SWOT Analysis
Figure 31 Wilmar International Limited: Company Snapshot
Figure 32 Wilmar International Limited: SWOT Analysis
Figure 33 Bunge Limited: Company Snapshot
Figure 34 Bunge Limited: SWOT Analysis
Figure 35 AAK AB: Company Snapshot
Figure 36 AAK AB: SWOT Analysis
Figure 37 IOI Group : Company Snapshot
Figure 38 IOI Group: SWOT Analysis
Figure 39 International Foodstuff Company Limited: Company Snapshot
Figure 40 Olenex:Company Snapshot
Figure 41 Musim Mas Holdings: Company Snapshot
Figure 42 Mewah Group: Company Snapshot
Figure 43 Intercontinental Specialty Fats SDN. BHD: Company Snapshot

The specialty oils market is projected to grow at a CAGR of 6.4%, in terms of value, from 2017 to reach a projected value of USD 20.15 Billion by 2022, while the specialty fats market is projected to grow at a CAGR of 9.7%, in terms of value, from 2017 to reach a projected value of USD 3.45 Billion by 2022. The specialty fats & oils find a wide range of applications in chocolate & confectionery, bakery, dairy, processed foods, personal care, cosmetics, and pharmaceutical sectors. The factors such as increasing demand for cocoa butter alternatives, and rising demand for bakery fats for filling application has fueled the growth in the market.

On the basis of specialty oils type, the global oil market is segmented into palm oil, soybean oil, coconut oil, cottonseed oil, and rapeseed oil. The palm oil segment has dominated the market owing to its major use in the production of various products, such as confectionery fillings, and wider availability.

Based on specialty fats type, the global fats market is segmented into cocoa butter equivalents, cocoa butter substitutes, cocoa butter replacers, cocoa butter improvers, dairy fat replacers, and exotic fats. The cocoa butter equivalents segment is estimated to dominate the market in 2016 owing to its use in chocolates and compound coatings, which are used in bakery & confectionery products. Moreover, CBEs enhance the flavors of the ingredients, are non-hydrogenated, and free from trans-fats, which decreases the risk of heart disease.

The specialty fats & oils market is segmented on the basis of application into chocolate & confectionery, bakery, dairy, processed foods, and others includes personal care, cosmetics, and animal feed. The chocolate & confectionery segment accounted for the largest share in the market. The changing consumer preference toward the trans-fat-free products has led the increase in demand for chocolate & confectionery products.

The specialty fats & oils market is segmented on the basis of form into liquid and dry. The liquid segment dominated the market in 2016, and is projected to grow at the highest CAGR followed by dry form. The liquid form of specialty fats & oils are in demand owing to its melting point of saturated fatty acids characteristics.

The Asia-Pacific region dominated the market and accounted for the largest share, in terms of both value and volume, in the global fats & oils market, in 2016. The Asia-Pacific region comprises developing economies such as India, China, Malaysia, and Indonesia. India is a major consumer of palm oil. The rapid expansion of the applications of fats & oils and the demand for palm and soybean oils has resulted in growth of the market in the region.

Specialty Fats & Oils Market

The governments of many countries have fixed the intake level of trans-fatty acids in various food products. The consumption of trans-fatty acids is strongly associated with an increased risk of cardiovascular diseases and cancer.

The leading players that dominated the specialty fats & oils market include Cargill (U.S.), Bunge Ltd. (U.S.), IFFCO (UAE), Wilmar International (Singapore), and AAK AB (Sweden). Other players include Olenex (Switzerland), Musim Mas Holdings (Singapore), IOI Group (Malaysia), Mewah Group (Singapore), and Intercontinental Specialty Fats Sdn. Bhd (ISF) (Malaysia). The key players have adopted strategic developments such as new product launches, acquisitions, joint ventures, expansions, collaborations & partnerships, and agreements & investments in order to explore the market in new geographies.

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