Specialty Fats and Oils Market: Current Analysis and Forecast (2021-2027)
Emphasis on Type (Specialty facts, Specialty Oils); From Type (Dry, Liquid); Application (Bakery Products, Processed Food, Animal Nutrition, Dairy products, Infant Nutrition, Others); Functionality (Molding, Filling, Coating, Stabilizing, Texturing, Others); and Region/Country
Global Specialty Fats and Oils Market was valued at US$ ~12 Billion in 2020 and is anticipated to reach more than US$ 20 Billion by 2027 displaying an elevated CAGR of ~8% over the forecast period (2021-2027). Processed foods occupy a significant share of many diets around the globe as these are widely available, cheap, and intensively marketed. The demand for specialty fats and oil is rising dramatically across the globe owing to the growing consumption of processed food in many high-income countries leading to the increase in sales of processed and packaged food. For instance, the sales of packaged food across the globe were nearly USD 2,339.7 billion in 2015 and was gradually increased to USD 2578.9 billion in 2017 and USD 2,644.1 billion in 2019. Furthermore, advancement in technologies used in the manufacturing of specialty fats and Oil to maintain and prolong the shelf life of products to enhance the quality of the food is also propelling the market growth.
As per the United States Department of Agriculture (USDA), food and beverage manufacturing plants accounted for 15.8% of the value of shipments and 14.7 percent of all employees from all U.S. manufacturing plants in 2019. Growing demand for processed and packaged food in the region acting as a growth catalyst to the industry. 80% of Americans’ total calorie consumption comes from store-bought foods and beverages (packaged and unpackaged).
Global Packaged Food Sales, 2015-2019 (in USD billion)
Cargill Incorporated, Wilmar International, Bunge Limited, Mewah International, Aak Ab International Foodstuff Company Limited (Iffco), Musim Mas, Fuji Oil, Manildra Group, and Bako Wales, etc, are some of the prominent players operating in the Specialty Fats and Oils market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Type, Specialty Oils segment holds the major share”
Based on the Type, the market is fragmented into Speciality facts and Specialty Oils. Further, the Speciality fats are segregated into Cocoa Butter Equivalents, Cocoa Butter Substitute, Cocoa Butter Replacer, Cocoa Butter Improvers, Dairy Fat Replacers, and Other Specialty Fats. Also, the Specialty Oils are segregated into Palm Oil, Soyabean Oil, Coconut Oil, Sunflower Oil, Rapeseed Oil, and Other Specialty oils. The specialty fats grabbed XX% market share and dominated the market in 2020. Moreover, the segment would witness a growth of XX% during the forthcoming years to reach a market valuation of USD XX Bn by 2027.
“Amongst From Type, Liquid segment to dominate the market during the forecast period”
Based on the type, the market is fragmented into Dry and Liquid. The Liquid form grabbed major market share and captured XX% market revenue in 2020. However, the dry form segment would emerge in the forecast period and would witness a considerable CAGR during the forthcoming period as well to reach USD XX Bn by 2027.
“Amongst Application, Infant Nutrition segment to grab the Major Market share in Forthcoming years”
Based on the application, the market is segmented into Bakery Products, Processed Food, Animal Nutrition, Dairy products, Infant Nutrition, and Other Application. The bakery products segment grabbed XX% market share and gathered USD XX Bn in 2027. Moreover, this segment is expected to reach USD XX Bn by 2027 with a growth of XX% CAGR during 2021-2027
Amongst Functionality, Coating segment to Witness Considerable Growth During 2020-27”
Based on the functionality, the market is fragmented into Molding, Filling, Coating, Stabilizing, Texturing, and Other Functions. The molding segment grabbed XX% market share in 2020. Moreover, the segment is expected to witness a growth of XX% during 2021-27 to reach a market valuation of USD XX Bn by 2027. However, the Texturing segment would register a considerable CAGR in the forthcoming years.
“North America represents one of the largest markets of Specialty Fats and Oils market”
For a better understanding of the market dynamics of the Specialty Fats and Oils market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated revenue of US$ XX Billion in 2020 owing to the change in lifestyle and growing demand for processed and packaged food.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
Customization Options:
The Specialty Fats and Oils Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Global Specialty Fats and Oils Market Analysis (2021-2027)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Specialty Fats and Oils Market were the three major steps undertaken to create and analyze the demand for Specialty Fats and Oils across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Specialty Fats and Oils market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Specialty Fats and Oils through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Specialty Fats and Oils market, we conducted a detailed secondary analysis to gather historical market insights and share for types, Forms, Functionality, and applications for major regions. Major segments included in the report are form and application. Further region and country-level analyses were conducted to evaluate the overall adoption of Specialty Fats and Oils across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Specialty Fats and Oils. Further, we conducted factor analysis using dependent and independent variables such as Growing Demand for Processed and Packaged food, rise in disposable income, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Specialty Fats and Oils industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Specialty Fats and Oils market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Specialty Fats and Oils across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Specialty Fats and Oils market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Specialty Fats and Oils market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Type, form, functionality, and application of the Specialty Fats and Oils market.
Main Objective of the Specialty Fats and Oils Market Study
The current & future market trends of Specialty Fats and Oils were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Specialty Fats and Oils in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, form, functionality, and application
- Define and analysis of the regulatory framework for the Specialty Fats and Oils industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Specialty Fats and Oils market for the major countries
- The major region studied in the report includes North America, Europe, Asia- Pacific and Rest of the World.
- Company profiles of the Specialty Fats and Oils market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry
Related Reports
Customers who bought this item also bought
