Global Specialty Oils Market – Overview
Increasing cardiac health issues associated with the consumption of conventional oils has uplifted the consumption of specialty oils owing to health benefits associated with the consumption which is driving the growth of specialty oils market. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Specialty Oils Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR % while achieving million dollar growth readily in the forecast period.
Leading edible oil companies are focusing more on R&D in terms of product innovations and introducing active key ingredients to edible oil having better functionality. Specialty oils are alternative to conventional edible oils which have extra fat and lipid content. Innovations and upgrading technology have been principle of the research wing. Through extensive research and techniques, the companies are developing functional oils with aided health benefits.
Extensive investments are made in research and advanced technologies to enhance product range, and simultaneously provide new hybrids to meet the expanding market needs. Increasing popularity of functional food and specialty ingredients in diet among the population is likely to surge the global specialty oils market owing to high consumption of low-fat oil in diet. Additionally, high acceptance of natural ingredients and green label products in oil processing is supporting the growth of specialty oils market.
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The amount of obese population and diseases such as hypertension, high blood cholesterol and other heart diseases due to high fat intake is increasing rapidly, which is a great concern among the growing population. This has intensified the demand for specialty oils and low-fat alternatives from several industries such as dairy, bakery, snacks & beverages and others. Moreover, rising demand for specialty food and innovative food ingredients is projected to drive the growth of specialty oils market over the review period.
Latest Industry Updates
Nov-2017 NutriGold launched its new product fish oil plant gels. The product is vegan soft gel made of tapioca to the VMS aisle. Strategic product launches will help in strengthening company’s base and also bring up with new products.
Mar 2017 Landec Corporation a leading innovator of diversified health and wellness solutions within the packaged food and biomaterial markets went through a definitive agreement to purchase O Olive Oil, Inc. This merger will help the company to foster its business segment in specialty oils segment.
Nov 2017 BASF Newtrition Launched accelon Omega-3 Absorption Technology. The company is highly inclined towards R&D activities. This step by the company will help to improve the quality of product line. Additionally, it is also supporting the company to come up with high quality specialized oils.
May 2017 Catalent Pharma Solutions, the leading global provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products, announced its new product launch, fish oil thin shell Easy Burst Chewables. This product is rich in omega-3 fatty acids. The company is targeting more towards new product launch in near future to expand its business segment.
Global Specialty Oils Market - Competitive Analysis
Market players in oil industry have been investing on product development and continuous product improvement to cater the consumer needs. Specialty oils contain ingredients which support improved human health. Omega-3 and Omega-6 fatty acids are common ingredients used in preparation of specialty oils. Manufacturers also rely on palm, soybean, coconut, cottonseed, and rapeseed oils to prepare specialty oils owing to better heart health benefits associated with consumption. The strategic sales plan of specialty oil manufacturers include use of online channels for marketing and distributing the products along with product promotion in exhibitions and other platforms and choosing right marketing strategies which gives out a clear to target audience. Specialty oil manufacturers have collaborated with healthcare and medical advisors to arrange consumer awareness campaigns to help them choose healthier products.
The key players profiled in specialty oils are as La Tourangelle (France), Roland Food (U.S.), Bunge Limited (U.S.), Dr. Adorable (U.S), AFRUE (Spain), Corilanga (Italy), BST International (Turkey), Agro International ltd (Banladesh), Shiv sales corporation (India), Silverline Chemical Ltd (India), Naturalist, LLC (Russia), Cargill (U.S.), BEIDAHUANG GROUP (China), J-OIL MILLS INC.(Japan), The Savola Group (Saudi Arabia )
Global Specialty Oils Market – Segments
The global specialty oils market has been divided into type, process type, application, and region.
On the Basis of Type: Soybean oil, Cottonseed oil, Palm oil, Coconut oil, Rapeseed oil, Others On the Basis of Process Type: Hot pressed, Cold pressed and others On the Basis of Application: Food, Pharmaceuticals, Cosmetics & Personal Care, and others On the Basis of Region: North America, Europe, Asia Pacific and ROW.
Global Specialty Oils Market - Regional Analysis
The global specialty oils market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Among the entire region, Asia Pacific is estimated to retain its dominance throughout the forecast period. The Asia-Pacific region comprises developing countries such as India, China, Malaysia, and Indonesia. India is found to be a major consumer of palm oil. Increasing consumption of oils and the demand for palm and soybean oils is driving the market growth in the region. Also, increasing cardiac diseases among the consumers in European countries is also positively influencing the overall sales specialty oils in the review period. Additionally, Europe is also an attractive destination for the specialty oils manufacturers during the forecast period.
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Research Report Insights (RRI) has published a new market report titled “Specialty fats and oilsmarket by 2025.”According to the report, the specialty fats and oilsmarket is estimated to be US$ $ 38,482.1 Mn in 2017 and is forecast to surpass US$ 57,627.0 Mn by 2025, registering a CAGR of 5.2% between 2017 and 2025.
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An exhaustive analysis and geographic assessment demonstrates that the growth of global specialty fats and oils market is attributed to the factors such as, increasing demand for specialty fats and oils in bakery, confectionery, dairy and ice-cream industry. Specialty fats and oils impart unique characteristics to the final food products in a cost effective manner thus, resulting in escalating market revenues in the overall market for specialty fats and oils over the forecast period. Increasing demand for non-partially hydrogenated oil (PHO) due to the growing need of improved functionality and diversity in the product offerings which is further expected to push the manufacturers of food products to incorporate the specialty ingredients in their product offerings.
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The global specialty fats and oils market is segmented on the basis of product type, end use and region. By product type the global specialty fats and oils market is segmented into, specialty oils and specialty fats. Specialty oil product type segment is estimated to account for a value share of 57,627.0 by 2025, thus positioning itself as the largest product type segment in the global specialty fats and oils market. Specialty oils segment is further sub-segmented into, palm oil, soya oil, peanut oil, coconut oil, rapeseed oil, sunflower oil, olive oil and other oils. Palm oil sub-segment accounted for the highest market share among all oil types. The specialty fats segment is further sub-segmented into, cocoa butter substitutes, lauric fats, creaming fats, anhydrous milk fat, butter, margarine, shortenings and others. By end use the global specialty fats and oils market segment is segmented into, industrial, commercial and household segment. The industrial segment is sub-segmented into, food and beverages industry, personal care and cosmetic industry and other segment. The food and beverages industry segment accounted for the largest revenue share in the global specialty fats and oils market. The segment is forecasted to reach US$ 10,484Mn by 2025 end. The food and beverages segment is further sub-segmented into, bakery, dairy and ice-cream, chocolate and confectionery, breads and cereals and others.
By region, the global specialty fats and oils market is segmented into, North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Asia pacific is the largest market for specialty fats and oils in value and volume terms due to increasing consumption of bakery and confectionery products. Europe accounted for the revenue share of 23.8% in 2016 positioning itself as the second largest markets for specialty fats and oils. Major companies operating in the globalspecialty fats and oils market are Cargill Inc., Wilmar International Limited, Intercontinental Specialty Fats, Puratos Group NV (Coprem Nv), IFFCO Group, 3F GROUP, Musim Mas Group, Fuji Oil USA, Oleo-Fats Inc. (D&L Industries Inc.), De Wit Specialty Oils, Mewah Group,IOI Corporation Berhad, Archer Daniels Midland Company, Bunge Limited, AAK AB, The Hain Celestial Group Inc., Ventura Foods, Apical Group Ltd., Liberty Oil Mills Ltd, Adams Group, PRESCO PLC.
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Global Specialty fats and oils market – By Product Type
• Specialty Oils
• Palm Oil
• Soya Oil
• Peanut Oil
• Coconut Oil
• Rapeseed Oil
• Sunflower Oil
• Olive Oil
• Others
• Specialty Fats
• Cocoa Butter Substitute
• Cocoa Butter Equivalent
• Cocoa Butter Improver
• Cocoa Butter Replacer
• Lauric Fats
• Creaming Fats
• Anhydrous Milk Fat
• Butter
• Margarine
• Others
Global Specialty fats and oils market – By End Use
• Industrial
• Food and Beverages Industry
• Bakery
• Dairy and Icecream
• Chocolate and Confectionary
• Breads and Cereals
• Others
• Personal Care and Cosmetics Industry
• Others
• Commercial (HoReCa)
• Household
Global Specialty fats and oils market – By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Specialty Fats and Oils Market 2018-2023:Global Specialty Fats & Oils market size will grow from USD 15.98 Billion in 2017 to USD 25.51 Billion by 2023, at an estimated CAGR of 8.1%.
The factors such as increasing demand for cocoa butter alternatives, and rising demand for bakery fats for filling application has fueled the growth in the market.
By Market Players: Cargill , Wilmar International Limited , Bunge Limited , AAK AB , IoI Group , International Foodstuff Company Holdings Limited (IFFCO) , Olenex , Musim Mas Holdings , Mewah Group , Intercontinental Specialty Fats SND.
BHD Get Sample Copy of Global Specialty Fats and Oils Market @ http://www.orbisresearch.com/contacts/request-sample/2107769 By Type Specialty Fats , Specialty Oils By Application Chocolate & Confectionery , Bakery , Processed Foods , Dairy , Others By Form Liquid , Dry (Crystalline) By Functionality Molding , Fillings , Coating The prime objective of this report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing.
Points Covered in The Report: The points that are discussed within the report are the major market players that are involved in the market such as manufacturers, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report.
The Specialty Mint Oils Market 2021 research report gives emerging industry data, global segments and regional outlook.
This report covers up all details such as size, share, value, growth, restraints, and opportunities for the year 2020 to 2027.
The report generated using various analysis tools like porter’s five forces model, market attractiveness and value chain.
The report gives comprehensive review of the global market helping to club revenue generation and profitable business to transform client’s success.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
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