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Global Specialty Fats and Oils Market is Segmented by Type (Specialty Fats (Cocoa Butter Equivalents, Cocoa Butter Replacer, Cocoa Butter Substitutes, Cocoa Butter Improvers, Milk Fat Replacers, and Other Specialty Fats) and Specialty Oils (Soybean Oil, Rapeseed Oil, Palm Oil, Coconut Oil, Olive Oil, and Other Oils)), by Application (Bakery, Confectionery, Dairy Products, Infant Nutrition, and Other Applications), and by Geography.
2016 - 2026
Fastest Growing Market:
The global specialty fats and oils market is projected to register a CAGR of 6.5% during the forecast period (2020 - 2025).
The scope of the market is segmented by type into specialty fats and specialty oils. Specialty fats can be further segmented into cocoa butter equivalents (CBE), cocoa butter replacers (CBR), cocoa butter substitutes (CBS), cocoa butter improvers (CBI), milk fat replacers (MFR), and other specialty fats. The specialty oils segment is further divided into soybean oil, rapeseed oil, palm oil, coconut oil, olive oil, and other oils. Based on application bakery, confectionery, dairy products, infant nutrition, and other applications. The study also involves the global level analysis of regions, such as North America, Europe, Asia-Pacific, and Rest of the World.
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Cocoa production has always been fluctuating, and it is a costly ingredient. Hence, confectioners are using alternative ingredients to substitute cocoa butter to maintain profit margins. Earlier, cocoa butter was preferred over cocoa butter equivalent (CBE) as a fat source in chocolate products, but in the coming years, the balance is projected to shift in favor of CBEs. Annual growth in CBE demand is currently estimated to be at 10%, while for chocolate, it is only 3-4%. Reasons for the recent interest in CBEs include their 30-40% reduction in cost, as compared to cocoa butter, their sustainability, and the flexibility of the products. These specialty fats are also predominantly used to produce compound coatings used in bakery and confectionery products, where the coatings form 10% to 30% of the total weight of the enrobed products.
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As chocolate has begun to be used for a wider range of applications, including bread, ice cream, and cookies. Moeover, there has been an increasing demand for highly functional specialty oils and fats for chocolate manufacturing. China ranks second, with about 14% of the total world production of fats and oils in 2015, and the country is a major producer of soybean and canola oils. In China, palm oil is widely being used to replace hydrogenated oils, as the base specialty oil in processed food, bakery, and confectionery. Confectioners are increasingly substituting cocoa butter with CBEs derived from a mix of shea stearin and palm mid fraction, due to reduced cost, improved functionality, and sustainability. Around 90-95% of exported shea butter is used in the production of cocoa butter equivalents in China. This is increasing the growth of the market studied in the region.
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The global specialty fats and oil market is highly competitive. The major players have used various strategies, such as new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions, to increase their footprints in the market studied. The major players in the food industry are investing in R&D activities to expand their specialty fat and oil product portfolios and attract more consumers by providing innovative products. The key players in the market are Cargill, Incorporated, Fuji Oil Co. Ltd, Wilmar International Ltd, and AAK AB.
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Specialty Fats
18.104.22.168 Cocoa Butter Equivalents (CBE)
22.214.171.124 Cocoa Butter Replacers (CBR)
126.96.36.199 Cocoa Butter Substitutes (CBS)
188.8.131.52 Cocoa Butter Improvers (CBI)
184.108.40.206 Milk Fat Replacers (MFR)
220.127.116.11 Other Specialty Fats
5.1.2 Specialty Oils
18.104.22.168 Soybean Oil
22.214.171.124 Rapeseed Oil
126.96.36.199 Palm Oil
188.8.131.52 Coconut Oil
184.108.40.206 Olive Oil
220.127.116.11 Other Oils
5.2 By Application
5.2.3 Dairy Products
5.2.4 Infant Nutrition
5.2.5 Other Applications
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.3.4 Rest of the World
220.127.116.11 South America
18.104.22.168 Middle-East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Cargill Incorporated
6.3.2 Bunge Limited
6.3.3 The Archer Daniels Midland Company
6.3.4 Olam International
6.3.5 Wilmar International Limited
6.3.6 Musim Mas Group
6.3.7 AAK AB
6.3.8 Fuji Oil Holding Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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