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The global specialty fats and oils market considered for US$ 15,202 Mn in 2017, growing at a CAGR of 6.3% from 2018 to 2026.Market Insights
The global market for specialty fats and oils was pegged at US$ 15,202 Mn in 2017 rising with a CAGR of 6.3% throughout the projection period from 2018 to 2026. Specialty fats and oils are designed to meet the need of various end-use industries such as bakery, food and beverages etc. Specialty fats and oils are manufactured under extensive hygienic food safety and selective process conditions. Specialty fats and oils provide excellent elasticity, gloss retention, and fat crystallization at lower viscosities and used as an alternative to saturated fats. Rising concern over the use of healthy fats and oils as an ingredient has stimulated the bakery and confectionery product manufacturers to search for healthy alternatives to integrate it into their products. Also, changing tastes and preferences of consumers in developing nations has led manufacturers to increase their product portfolio and provide innovative products at lesser prices.
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Rising demand for specialty fats in confectionary and bakery products owing to factors such as increasing consumption of chocolate products, the rising popularity of dark chocolates, as well as fluctuating prices of cocoa due to the volatilizing production cost has led to the development of cocoa alternatives. Increasing prices of cocoa butter has significantly driven the demand for its alternatives such as cocoa butter substitutes (CBS). Cocoa butter alternatives such as CBS are fats mixed with cocoa butter in limited concentrations and does not alter its melting, rheological, and processing properties. Specialty fats developed from the palm and palm kernel fractions such as cocoa butter substitutes (CBS) provides a creamy, smooth caramel texture to confectionery products such as fillings of cookies that provides significant opportunities for the development of cocoa butter substitutes over its counterparts. Also, increased acceptance of liquid shortenings owing to its property of retaining moisture in baked products supplement the growth of liquid form in the near future.
Cocoa butter substitutes & palm oil projected to dominate the specialty fats and oils market respectively
In 2017, palm oil accounted for the major market volume share and expected to maintain its dominance over the forecast period. Palm oil is largely produced and consumed vegetable oil surpassing soybean oil. Wide availability of palm oil and its rising application is the significant factor for the market growth. Moreover, its neutral taste and flavor enhancing characteristics propelling its demand in confectionery industry, thus driving the overall market. Also, low cost of production as compared to its counterparts and the fact that palm oil is the only naturally available solid vegetable oil are few other factors contributing to market growth.
On the other hand, cocoa butter substitutes dominates the specialty fats market by type, as they contain fatty acids and physical properties similar to cocoa butter. Essential food product texture characteristics, extreme softness, and shelf life enhanced by the gloss and snap features provided by cocoa butter equivalents are other factors supporting the growth for specialty fats throughout the forecast period.
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ToC:
Chapter 5. Global Specialty Fats and Oils Market, by Form, 2016 – 2026 (Kilo Ton, US$ Mn)
5.1. Overview
5.1.1. Specialty Fats and Oils Market Share Analysis (Value, %), by Form, 2017 vs. 2026
5.1.2. Global Specialty Fats and Oils Market Volume, by Form, 2016-2026 (Kilo Ton)
5.1.3. Global Specialty Fats and Oils Market Value, by Form, 2016-2026 (US$ Mn)
5.2. Dry
5.3. Liquid
Chapter 6. Global Specialty Fats and Oils Market, by Application, 2016 – 2026 (Kilo Ton, US$ Mn)
6.1. Overview
6.1.1. Specialty Fats and Oils Market Share Analysis (Value, %), by Application, 2017 vs. 2026
6.1.2. Global Specialty Fats and Oils Market Volume, by Application, 2016-2026 (Kilo Ton)
6.1.3. Global Specialty Fats and Oils Market Value, by Application, 2016-2026 (US$ Mn)
6.2. Chocolates and Confectioneries
6.3. Bakery Products
6.4. Processed Foods
6.5. Dairy Products
6.6. Others (cosmetic products, ointments etc.)
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Chapter 8. Company Profiles
8.1. Wilmar International Limited
8.1.1. Business Description
8.1.2. Financial Information (Subject to data availability)
8.1.3. Product Portfolio
8.1.4. Business Strategies/Recent Developments
8.2. Bunge Limited
8.3. Cargill Inc.
8.4. IOI Group
8.5. International Foodstuff Company Holdings Limited (IFFCO)
8.6. Intercontinental Specialty Fats Sdn Bhd
8.7. Musim Mas Holdings
8.8. Mewah Group
8.9. Olenex
8.10. AAK - The Co-Development Company
8.11. Other Notable Players
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List of table
TABLE 1 Market Snapshot: Global Specialty Fats and Oils Market Volume (Kilo Ton)
TABLE 2 Market Snapshot: Global Specialty Fats and Oils Market Value (US$ Mn)
TABLE 3 Global Specialty Fats Market Volume, by Type, 2016 – 2026 (Kilo Ton)
TABLE 4 Global Specialty Fats Market Value, by Type, 2016 – 2026 (US$ Mn)
TABLE 5 Global Specialty Oils Market Volume, by Type, 2016 – 2026 (Kilo Ton)
TABLE 6 Global Specialty Oils Market Value, by Type, 2016 – 2026 (US$ Mn)
TABLE 7 Global Specialty Fats and Oils Market Volume, by Form, 2016 – 2026 (Kilo Ton)
TABLE 8 Global Specialty Fats and Oils Market Value, by Form, 2016 – 2026 (US$ Mn)
TABLE 9 Global Specialty Fats and Oils Market Volume, by Application, 2016 – 2026 (Kilo Ton)
TABLE 10 Global Specialty Fats and Oils Market Value, by Application, 2016 – 2026 (US$ Mn)
TABLE 11 Global Specialty Fats Market Volume, by Geography, 2016 – 2026 (Kilo Ton)
TABLE 12 Global Specialty Fats Market Value, by Geography, 2016 – 2026 (US$ Mn)
TABLE 13 Global Specialty Oils Market Volume, by Geography, 2016 – 2026 (Kilo Ton)
TABLE 14 Global Specialty Oils Market Value, by Geography, 2016 – 2026 (US$ Mn)
TABLE 15 North America Specialty Fats Market Volume, by Type, 2016 – 2026 (Kilo Ton)
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