2020 Insights on the Specialty Fats and Oil Market - Key Growth Opportunities

Global Specialty Fats and Oil Market is expected to be USD 6.28 billion by 2026 from USD 3.2 billion in 2019, at a CAGR of 10.10% from 2020 to 2026. The growth of the market over the estimated period is attributed to an increasing gap between demand and supply of cocoa butter (a substitute for Specialty Fats and Oil). Apart from this, a noticeable surge in the intake of treated diet and confectionery will steer the development of specialty fats & oils industry over the forecast period. Besides, rise in the overseas funding and alliances observed in the food industry will enlarge the market scope during the forthcoming period. Moreover, the use of specialty fats & oils as a cocoa butter substitute will multiply the request for specialty fats & oils.