Specialty Fats And Oils Market Analysis: Major Players, Lucrative Segments And Top Geographies
26 Jun, 2023
The global specialty fats and oils market size is expected to grow from $10.75 billion in 2022 to $11.70 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global specialty fats and oils market is expected to grow to $16.34 billion in 2027 at a CAGR of 8.7%.
Global Specialty Fats And Oils Market Key Driver
The speciality fats and oils industry is predicted to develop in response to rising packaged food consumption. Packaged food is food that has had its entire floor coated to protect it from direct contact with the environment, using porous or impermeable wrapping. Consumers prefer low-fat food with healthier options and ready-to-eat packed food because they are easily available, tasty, and healthy. Specialty oils and fats used in packed food have nutritional values as well as functional benefits; as a result, rising packaged food consumption increases demand for the specialty fats and oils market.
Get a sample of the global specialty fats and oils market reportGlobal Specialty Fats And Oils Market Segments
The global specialty fats and oils market is segmented:
1) By Type: Specialty Oil, Specialty Fat
2) By Form: Solid, Semi-Solid, Liquid
3) By Application: Confectionery, Bakery, Dairy, Cosmetics, Other Applications
4) By Geography: The regions covered in the specialty fats and oils market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global specialty fats and oils market.
Major Specialty Fats And Oils Industry Players
AAK AB, Cargill Incorporated, Fuji Oil Co. Ltd., IOI Loders Croklaan, Mewah Group, Wilmar International, Bunge Limited, D&L Industries, IFFCO Group, Archer Daniels Midland Company, The Hain Celestial Group Inc., Ventura Foods, Apical Group Ltd., Liberty Oil Mills Ltd., Adams Group, PRESCO PLC., Intercontinental Specialty Fats, MOI International Pte Ltd
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Specialty Fats And Oils Market Overview
Specialty oils and fats refer to the oils that are derived from various natural sources, such as coconuts, sunflower, soybeans, rapeseed, palm, and other sources, such as peanut and olive oil.
Specialty Fats And Oils Global Market Report 2023 provides data on the global specialty fats and oils market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The specialty fats and oils market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.