Global Specialty Fats and Oils Market to be Worth US$ 142.1 Billion by 2026

Transparency Market Research

ALBANY, New York, March 7, 2018 /PRNewswire/ --

Global Specialty fats and Oils Market  expected to reach a value of US$ 142.1 Bn by 2026. The market projected to grow at a CAGR of 6.6 % in terms of revenue during the forecast period from 2018 to 2026, according to a new research report by Transparency Market Research (TMR). The product manufactured may vary according to the end use application of processing by specialty fats and oils. On the basis of by form type, a semi-solid segment has the major growth rate in forecast period with a CAGR of 7.3% among the others type of by form in global specialty fats and oils market. Considering all these factors, the specialty fats and oils market are likely to grow at a significant rate during the forecast period 2018 to 2026.

The factors such as increasing awareness of health issue to avoid cholesterol, preference for natural origin, and rise in demand for bakery and confectionery products are driving the growth of the specialty fats and oils market. However, increasing raw material prices required for processing of specialty fats and oil production has been a major restraint for the specialty fats and oils market. The industrial sector and individual user are likely to try out the healthy product of specialty fats and oils product has it provides benefit by fortifying of nutritive value which directly benefits for better quality of life which enhances by research and development for manufacturing innovative products is an opportunity in the market. Nevertheless, it has threats from regional regulatory bodies to promote the regional agro and processed products of specialty fats and oils.

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According to the report, the most commonly used product for end-use application in the global market are corn oil, palm oil, soya bean oil, and blend oil in specialty oil and cocoa butter substitute, cocoa butter equivalent, cocoa butter replacers, and butter oil substitute of specialty fats. Specialty oils are now within the reach of an individual application segment. The product of specialty fats has high usage in the industrial sector. The report offers detailed segmentation based on product type, application type, form type, and region.  According to the report, specialty oils have demand with a gradual growth rate in terms of revenue. The report state that the product such as corn oil and soya bean oil will contribute approximately 7.2% of CAGR in a forecast period. However, the demand for the product of specialty fats will be rise at a brisk rate as it has a high demand for use in industrial application sector. The product such as cocoa butter equivalent (CBR) will contribute the highest growth in the forecast period. The report projects sub-segment of application segments such as bakery and cosmetics will display a significant growth rate of all specialty fats in the forecast period both in terms of revenue and Volume. The report also forecasted the segmentation of form type to grow at a CAGR of 7.3% based on revenue for the semi-solid type.