According to the current analysis of Reports and Data, the global Specialty Fats market was valued at USD 2.30 Billion in 2018 and is expected to reach USD 4.63 Billion by year 2026, growing at a CAGR of 9.1%. The global Specialty Oils market was valued at USD 15.33 Billion in 2018 and is expected to reach USD 24.63 Billion by year 2026, at a CAGR of 6.1%.

Specialty fats and oils have witnessed a huge demand growth due to their readily useful properties such as the ability to provide viscosity for filling, coating and moulding purposes in various applications of food industry. While these products help as useful substitutes of cocoa butter and as dairy fat replacer, specialty oils find application in cooking and processing purposes. The market is very well developed in Asia Pacific due to the huge demand for cooking oil and processed foods. Globally, the market is also getting a boost from the growth in the confectionery and dairy segments respectively.

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The benefits of specialty lipids have surpassed owing to their wide scale application as coating agents, cocoa butter substitute, ice cream fats among others. They impart a creamy texture and enhance the flavour of the final processed food products. They enable manufacturer to create quality baked products such as Danish puff pastry, croissant, viennoiseries among others. These products impart bloom-stable properties to chocolates, emulsifying properties, and viscosity to other processed products. These products are majorly preferred than their substitutes mainly due to the associated health benefits. These products also have applications in the manufacturing of personal care products.

For the purpose of this report, Reports and Data has segmented the market on the basis of type, form, functionality, application, end-user, and region:

Type (Revenue, USD Million; 2016–2026)

Specialty Fats
Cocoa Butter Substitutes
Lauric Fats
Creaming Fats
Creaming Fats
Anhydrous Milk Fats
Butter
Margarine
Shortenings
Others
Specialty Oils
Palm Oil
Soybean Oil
Coconut Oil
Cotton Seed Oil
Rapeseed Oil
Sunflower Oil
Olive Oil
Other Specialty Oils
Form (Revenue, USD Million; 2016–2026)

Dry
Liquid
Functionality (Revenue, USD Million; 2016–2026)

Molding
Filling
Coating
Stabilizing
Texturing
Health
Other Functions
Application (Revenue, USD Million; 2016–2026)

Chocolates & Confectioneries
Bakery Products
Processed Foods
Dairy Products
Other Applications
End Use (Revenue, USD Million; 2016–2026)

Industrial
Food and Beverages
Personal and Cosmetic Care
Others
Household Purposes
Regional Outlook (Revenue in USD Million; 2016–2026)

North America
US
Canada
Europe
Germany
France
UK
Spain
Italy
Rest of the Europe
Asia Pacific
China
India
Japan
Rest of Asia-Pacific
Middle East and Africa
Latin America
Brazil
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Further key findings from the report suggest-

By oil type, the palm oil segment holds the largest share in the global market. Despite the huge market share, there are rising concerns about environmental degradation due to palm oil production, in the form of greenhouse gas emissions. This factor is expected to hinder the market growth during the forecast period.
Soybean oil holds the second largest share globally. It is one of the most extensively consumer cooking oils. Its processed counterpart is used for oil paints and printing inks.
Sunflower and olive oil are also expected to register a significant CAGR as these oils have many associated health benefits. While sunflower oil has ample usage in frying applications and cosmetic formulations, olive oil is registering an increasing demand on account of its health benefits.
By end use, the food and beverages segment hold the largest share in the global market. These products are used as ingredients in a vast variety of food applications.
These specialty lipids have an important role as a health additive and fat replacer in various foods. As food manufacturers are embracing healthy fats and oils, these products are witnessing an increased applicability in the food industry.
Coating and texturing are other important functionalities of these products. It is because of such capabilities that these specialty lipids also find ready application in the cosmetic care and other industrial segments.
By region, the Asia Pacific region hold the largest share and are also expected to witness the highest CAGR. The increased consumer spending on food purchases and growing demand for processed foods is the major defining factor behind the growth.
The growing number of health concerns about the amount of fats and oils contained in these products is hampering the growth. Moreover, uncertain weather conditions are degrading the quality of crop yield, which in turn is hitting the supply of these products, ultimately inflating the raw material prices.

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Regional Coverage:
For a detailed understanding of the competitive landscape, a thorough regional analysis covering North America, Europe, Asia Pacific, Latin America, and Middle East & Africa is offered in the report. It studies the market size, market share, revenue contribution, production and consumption patterns, supply and demand ratio, import/export, and the operations of the key players located in those regions. Furthermore, the report also covers a country-wise analysis of the industry.

Industry Trends:
The report offers an extensive analysis of the current and emerging trends in the Specialty Fats market. It offers insights into the trends and their impact on the growth of the industry. Market trends relating to technological developments, product advancements, competitive landscape, and regulatory framework, among others, are covered in the report.

Market Scenario, Size, and Forecast:
The report covers macro and micro-economic factors that are anticipated to affect market growth and dynamics. Along with this, the report also offers insights into the social, political, economic, and legal aspects that are anticipated to influence the growth of the market. Moreover, the report provides a thorough analysis of the size in terms of value and volume and offers an accurate forecast of the market growth and expansion till 2027.

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