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Increased packaged food consumption is likely to drive innovation in speciality fats and oils manufacturing, propelling the market during the forecast period.

The global specialty fats and oils market is expected to grow from $10.75 billion in 2022 to $11.70 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The global specialty fats and oils market is expected to grow to $16.34 billion in 2027 at a CAGR of 8.7%.

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Global Specialty Fats And Oils Market Segments Include:

• By Type: Specialty Oil, Specialty Fat
• By Form: Solid, Semi-Solid, Liquid
• By Application: Confectionery, Bakery, Dairy, Cosmetics, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global specialty fats and oils market in 2021.

Major Market Players in the specialty fats and oils market include AAK AB, Cargill Incorporated, Fuji Oil Co. Ltd., IOI Loders Croklaan, Mewah Group, Wilmar International, Bunge Limited, D&L Industries, IFFCO Group, Archer Daniels Midland Company.

Product innovation is a significant trend in obtaining traction in the specialty oils and food markets. Major players in the speciality oils and food markets are focusing on finding novel solutions to increase their market position. Bunge Loders Croklaan, a Dutch company that specialises in specialty fats and oils, for example, will unveil Sweetolin, a patent-pending complete fat system, in May 2020. This is a one-of-a-kind complete fat system solution that allows for guilt-free pleasure while using up to 50% less sugar in confectionery coatings and fillings.

The Specialty Fats And Oils Global Market Report 2023  provides a specialty fats and oils market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The specialty fats and oils market forecast analyzes specialty fats and oils market size, specialty fats and oils market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Speciality oils and fats are derived from a variety of natural sources, including coconuts, sunflower, soybeans, rapeseed, palm and other sources, such as peanut and olive oil.

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