Specialty Fats & Oils Market Expands with Surge in Demand for Healthy Food, Notes TMR Assessment

• The specialty fats & oils market is expected to be valued at over US$ 23.7 Bn by 2031
• Rise in awareness among people on the advantages of consuming healthy trans-free fats is bolstering the market growth

ALBANY, N.Y., June 21, 2022 /PRNewswire/ -- The global specialty fats & oils market is estimated to register growth at a CAGR of 5.9% during the forecast period from 2022 to 2031, states a review by Transparency Market Research (TMR). The study sheds light on varied facets impacting the growth trajectory of the market. Moreover, it also shares insights on the COVID-19 impact on the global specialty fats & oils market.

The applications of specialty fats and oils are being increasing in bakeries, chocolate & confectioneries, diaries, processed food items, baby food products, and cosmetics products. This factor is resulting into revenue-generation opportunities in the global specialty fats & oils market.

World-leading specialty fats & oils manufacturers are increasing investments in product innovations. Moreover, they are focusing on the development of healthy products that fulfill the regulatory guidelines. This aside, several enterprises are expanding their businesses in newer regions by executing different strategies including acquisitions. Such efforts are prognosticated to help in the rapid growth of the global specialty fats & oils market during the forecast period.

The specialty fats & oils market is projected to gain sizable sales opportunities in Middle East & Africa and Asia Pacific during the forecast period owing to increasing consumption of specialty fats and margarine in several nations such as India, China, and some parts of Middle East & Africa. Moreover, rise in the product application in varied food industry segments including confectionery, bakery, food processing, dairy, and cosmetics is fueling the regional market growth.

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Specialty Fats & Oils Market: Key Findings

• Due to rise in understanding about the importance of healthy lifestyle, people around the world are getting more conscious about the food they eat. Hence, they are increasing inclination toward the consumption of different healthy food products including nuts and seeds, Omega-3 fish, and avocados as a part of balanced diet, state analysts of a TMR report on the specialty fats & oils market. This aside, the popularity of fad varied diet types including paleo and keto is being increasing globally, which in turn, is resulting into rise in awareness about the health advantages of consuming healthy trans-free fats regularly. These factors are boosting the sales growth in the specialty fats & oils market.
• Considering the rising trend of consuming high fat diets, major companies operating in the food industry are focusing on the development of products according to the needs of end-users. As a result, the demand for specialty fats & oils is being increasing in the recent years. Moreover, the market is being driven by rise in the product demand from the chocolate and confectionery industry. Hence, the size of the global specialty fats & oils market is prognosticated to reach a valuation of more than US$ 23.7 Bn by 2031.

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