Global Specialty Fats and Oils Market Analysis:
The global Specialty Fats and Oils Market was anticipated at USD 2.17 billion in 2017 and is foreseen to reach over USD 4.67 billion by the end of the assessment period. The market is estimated to experience reasonable progress to reach a CAGR of 10.1% throughout the conjecture period (2020-2025).
Market Drivers and Restraints:
The global specialty fats and oils market growth during the forecast period is due to the widening gap between demand and supply for cocoa butter. Other than that, a sharp increase in consumption of processed foods and confectionery products will drive the growth of the specialty fats and oils industry during the forecast period. Apart from that, the inflation of direct external financing, as well as the observed associations in the food industry, will expand the reach of the market in the coming years
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The global market for specialty fats and oils is segmented by type, application, shape and functionality.
The worldwide market for specialty fats and oils is segmented by type, special fats and oils. Special fats are broken down into cocoa butter equivalents, cocoa butter substitutes, cocoa butter substitutes, cocoa butter improvers, milk fat substitutes, and others. Special oils are further segmented into palm oil, soybean oil, coconut oil, cottonseed oil, rapeseed oil, and others.
The market for specialty fats and oils is segmented by application, in chocolates and confectionery, bakery products, processed foods, dairy products, and others.
The market for specialty fats and oils is segmented based on form into dry and liquid. The global specialty fats and oils market based on the functionality is divided into the molding, filling, coating, stabilizing, texturing, health and others.
The global Speciality Fats and Oils market has been categorized on the basis of geography into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. Asia-Pacific is clearly distinguished by a significant market share due to increased disposable income, purchasing power, growth of the middle-class population and changes in eating habits. Also, growing health and wellness concerns in emerging regions of China and India, as well as increasing per capita consumption of specialty oils and fats, are expected to support the global market.
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The global Speciality Fats and Oils Market is concentrated with well-established players. Key players in the Speciality Fats and Oils Market include Wilmar International Limited, Nisshin OilliO, Intercontinental Specialty Fats SDN BHD, Cargill Inc., IOI Loders Croklaan, and many others.
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