The global Normal & Specialty Fats market size is expected to be worth around US$ 51.3 billion by 2027, according to a new report by Vision Research Reports.
The global Normal & Specialty Fats market size was valued at US$ 29.0 billion in 2019 and is anticipated to grow at a CAGR of 7.3% during forecast period 2020 to 2027.
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Normal & Specialty Fats Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 – 2027 – Breakdown Data by Regions, Type, Manufacturers and Applications
The growth can be attributed to the ascending demand for bakery and confectionery products. Growth in the food processing sector along with increasing consumption of specialty fats is projected to drive the market.
Consumption of various bakery products such as bread, rolls, cookies, pies, pastries, and muffins is expected to play an important role in rising demand for fats in various bakery formulations. Dairy foods are expected to register steady rise in demand. Rapid urbanization and improving consumer lifestyle have led to increased consumption of dairy products such as cheese, ice creams, yogurt, and dips among others. This is expected to fuel the demand for fats in dairy products.
- In 2019, cocoa butter equivalent was estimated to be the fastest growing type segment due to rising demand for the product type in chocolate sector, owing to its unique property of completely melting at mouth temperature while remaining brittle, moldable, and hard at room temperature
- In 2019, Confectionery is expected to be the fastest growing application segment owing to use of fats with improved rheological characteristics including viscosity that facilitates effectual production of several confectionery products
- In 2019, B2B is expected to be the fastest growing distribution channel segment as key bakery manufacturers that are engaged in developing unique products in line with fat producers.
- In 2019, industrial is expected to be the fastest growing end-use segment owing to its growing usage in other than food sector especially in petrochemical sector to carry active elements including phosphorus, sulfur, and chlorine, with a purpose to provide resistance to oxidation, prevent wear during use, and inhibit corrosiveness
- Cargill, Incorporated
- Intercontinental Specialty Fats Sdn. Bhd.
- Musim Mas Holdings Pte. Ltd.
Normal & Specialty Fats Type Outlook
- Cocoa Butter Equivalent
- Cocoa Butter Replacer
- Cocoa Butter Substitute
- Filling Fats
- Milk-Fat Replacers
- Spread Fat
- Frying Fats
Normal & Specialty Fats Application Outlook
- Convenience Food
Normal & Specialty Fats Distribution Channel Outlook
Normal & Specialty Fats End-use Outlook
Normal & Specialty Fats Regional Outlook
- North America
- Asia Pacific
- Central and South America
- Middle East & Africa
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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