New York, Oct. 09, 2019 (GLOBE NEWSWIRE) -- Market Size – USD 2.30 Billion in 2018 for Specialty Fats and USD 15.33 Billion for Specialty Oils, Growth - CAGR of 9.1% for Specialty Fats and CAGR of 6.1% for Specialty Oils
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.
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.
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Further key findings from the report suggest
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Segments covered in the report:
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)
Form (Revenue, USD Million; 2016–2026)
Functionality (Revenue, USD Million; 2016–2026)
Application (Revenue, USD Million; 2016–2026)
End Use (Revenue, USD Million; 2016–2026)
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Regional Outlook (Revenue in USD Million; 2016–2026)
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