Specialty fats & oils are designed to meet the specific requirements of end-use applications such as in the production of confectionery, bakery items, dairy products, chocolates, fillings, and spreads. It provides excellent elasticity, gloss retention and fat crystallization at a lower viscosity and used as an alternative to saturated fats. The Global Specialty Fats & Oils Market is expected to have a significant market share due to an increase in the consumption of confectionery and processed food. Growing concern over the use of healthy fats and the gap between the demand and supply of cocoa butter is expected to drive the market growth. However, the side effects of excessive consumption can be a restraint for market growth. By type, Palm Oil is estimated to have a considerable market share due to its wide availability. By application, bakery products segment is expected to have a significant market share due to high demand for these products particularly in North America and European nations. By geography, the Asia Pacific region is expected to have a significant market growth due to an increase in demand for processed food products.
The global specialty fats & oils market has been analyzed through the following segments: