Specialty Fats and Oils Market by Type and Geography - Forecast and Analysis 2022-2026
- Published: Jan 2022
- Pages: 120
- SKU: IRTNTR72054
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The specialty fats and oils market share is expected to increase by USD 6.06 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.52%.
This specialty fats and oils market research report provide valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers specialty fats and oils market segmentation by type (specialty oils and specialty fats) and geography (North America, Europe, APAC, MEA, and South America). The specialty fats and oils market report also offers information on several market vendors, including 3F Industries Ltd., Cargill Inc., De Wit Speciality Oils, Fuji Vegetable Oil Inc., IFFCO Group, Musim Mas Group, Nisshin OilliO Group Ltd., Olea Fats Inc., Puratos NV/SA, and Wilmar International Ltd. among others.
What will the Specialty Fats and Oils Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the Specialty Fats and Oils Market Size for the Forecast Period and Other Important Statistics
Specialty Fats and Oils Market: Key Drivers, Trends, and Challenges
The fluctuations in global cocoa production is notably driving the specialty fats and oils market growth, although factors such as fluctuation in oil crop prices due to lack of land may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the specialty fats and oils industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Specialty Fats and Oils Market Driver
One of the key factors driving the global specialty fats and oils market growth is the fluctuations in global cocoa production. The unpredictable adverse weather conditions, including droughts, floods, frost, and earthquakes in top cocoa-producing countries have hampered the production of cocoa beans. Africa, especially the Ivory Coast and Ghana, is the world's greatest cocoa producer, accounting for over 70% of worldwide production. Factors such as excessive human intervention, in the form of animal husbandry and agriculture, have also put the habitat under pressure, thereby impacting the production. Therefore, the demand and supply gap of cocoa in the market will result in a high price of cocoa, which will result in increased demand for substitute products such as specialized fats. Such factors are expected to positively impact the market in focus during the forecast period.
Key Specialty Fats and Oils Market Trend
Rise in the demand for natural cosmetic products is another factor that is expected to drive the global specialty fats and oils market growth during the forecast period. Over the years, there has been a growing preference for natural products over artificial chemicals in the beauty and personal care industries. Factors such as the increase in the number of the millennial population, especially in APAC, a sharp increase in the online presence and Internet usage, the increase in per capita income, and a growing awareness of sustainable and environmentally friendly products have all together dominated the market for organic cosmetics and personal care products. This has increased the demand for specialty ingredients such as palm and olive oils in the beauty and personal care industries in the recent past and is expected to positively impact the market during the forecast period.
Key Specialty Fats and Oils Market Challenge
One of the major challenges to the global specialty fats and oils market growth is the fluctuation in oil crop prices due to lack of land. Oil crop prices are rising due to factors such as variable weather conditions, decreasing specialty oil production levels across the world, lack of funding and information about contemporary agricultural practices and farm management skills, and political instability affecting oil crop producers' output, which is limiting oil supply to manufacturers. It is estimated that 30% of crops in key countries are lost due to ineffective insect and crop disease management techniques. Such factors are expected to impede the growth of the market in focus during the forecast period.
This specialty fats and oils market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the global specialty fats and oils market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the specialty fats and oils market during the forecast period.
Who are the Major Specialty Fats and Oils Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- 3F Industries Ltd.
- Cargill Inc.
- De Wit Speciality Oils
- Fuji Vegetable Oil Inc.
- IFFCO Group
- Musim Mas Group
- Nisshin OilliO Group Ltd.
- Olea Fats Inc.
- Puratos NV/SA
- Wilmar International Ltd.
This statistical study of the specialty fats and oils market encompasses successful business strategies deployed by the key vendors. The specialty fats and oils market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Cargill Inc. - The company offers specialty fats and oils that include edible oils, palm oil, palm kernel oil, coconut oil products, refined oils, packaged palm fats, oils, and many more, under the brand name of Cargill Inc.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The specialty fats and oils market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Specialty Fats and Oils Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the specialty fats and oils market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the packaged foods and meats market includes the following core components:
- Inbound logistics
- Primary processing
- Secondary and tertiary processing
- Outbound logistics
- Marketing and sales
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Specialty Fats and Oils Market?
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32% of the market’s growth will originate from North America during the forecast period. The US is the key market for specialty fats and oils in North America. However, the market growth rate in this region will be slower than the growth of the market in Europe and APAC.
The rapidly increasing fast-food business in countries with high disposable income such as the US and Canada will facilitate the specialty fats and oils market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, due to the outbreak of COVID-19, nationwide lockdowns were imposed to restrict the spread of the disease that hampered the supply of and demand for specialty fats and oils in the regional market shifted due to the outbreak, with an increasing uncertainty related to prices. The closure of stores and shops disrupted the trade of specialty fats and oils and hampered its production. However, the bakery and confectionery industries observed a spike in sales, with people stocking up on these products during lockdowns. As of early 2021, with the initiation of vaccination drives, the number of COVID-19 cases reduced. This led to the resumption of lockdown restrictions and the reopening of bakery stores. Thus, with the growing need for confectionary products in the region, the market is expected to grow during the forecast period.
What are the Revenue-generating Type Segments in the Specialty Fats and Oils Market?
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The specialty fats and oils market share growth by the specialty oils segment will be significant during the forecast period. The significant increase in the demand for specialty oils owing to their use in supplements, special culinary applications, and cosmetics will drive the growth in this segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the specialty fats and oils market size and actionable market insights on post COVID-19 impact on each segment.
Specialty Fats and Oils Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 6.52%
Market growth 2022-2026
$ 6.06 billion
YoY growth (%)
North America, Europe, APAC, MEA, and South America
Performing market contribution
North America at 32%
Key consumer countries
US, China, Germany, UK, and France
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
3F Industries Ltd., Cargill Inc., De Wit Speciality Oils, Fuji Vegetable Oil Inc., IFFCO Group, Musim Mas Group, Nisshin OilliO Group Ltd., Olea Fats Inc., Puratos NV/SA, and Wilmar International Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Specialty Fats and Oils Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive specialty fats and oils market growth during the next five years
- Precise estimation of the specialty fats and oils market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the specialty fats and oils industry across North America, Europe, APAC, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of specialty fats and oils market vendors
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1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 3
Exhibit 04: Key Finding 5
Exhibit 05: Key Finding 6
Exhibit 06: Key Finding 7
Exhibit 07: Key Finding 8
2. Market Landscape
2.1 Market ecosystem
Exhibit 08: Parent market
Exhibit 09: Market characteristics
2.2 Value chain analysis
Exhibit 10: Value chain analysis
2.2.2 Inbound logistics
2.2.3 Primary processing
2.2.4 Secondary and tertiary processing
2.2.5 Outbound logistics
2.2.7 Marketing and sales
3. Market Sizing
3.1 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
Exhibit 13: Global - Market size and forecast 2021 - 2026 ($ billion)
Exhibit 14: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 15: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 16: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 17: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 18: Threat of new entrants
4.5 Threat of substitutes
Exhibit 19: Threat of substitutes
4.6 Threat of rivalry
Exhibit 20: Threat of rivalry
4.7 Market condition
Exhibit 21: Market condition - Five forces 2021
5. Market Segmentation by Type
5.1 Market segments
The segments covered in this chapter are:
- Specialty oils
- Specialty fats
Exhibit 22: Type - Market share 2021-2026 (%)
5.2 Comparison by Type
Exhibit 20: Comparison by Type
5.3 Specialty oils - Market size and forecast 2021-2026
Exhibit 24: Specialty oils - Market size and forecast 2021-2026 ($ billion)
Exhibit 25: Specialty oils - Year-over-year growth 2021-2026 (%)
5.4 Specialty fats - Market size and forecast 2021-2026
Exhibit 26: Specialty fats - Market size and forecast 2021-2026 ($ billion)
Exhibit 27: Specialty fats - Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Type
Exhibit 28: Market opportunity by Type
6. Customer landscape
Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 29: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
The regions covered in the report are:
- North America
- South America
Exhibit 30: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 31: Geographic comparison
7.3 North America - Market size and forecast 2021-2026
Exhibit 32: North America - Market size and forecast 2021-2026 ($ billion)
Exhibit 33: North America - Year-over-year growth 2021-2026 (%)
7.4 Europe - Market size and forecast 2021-2026
Exhibit 34: Europe - Market size and forecast 2021-2026 ($ billion)
Exhibit 35: Europe - Year-over-year growth 2021-2026 (%)
7.5 APAC - Market size and forecast 2021-2026
Exhibit 36: APAC - Market size and forecast 2021-2026 ($ billion)
Exhibit 37: APAC - Year-over-year growth 2021-2026 (%)
7.6 MEA - Market size and forecast 2021-2026
Exhibit 38: MEA - Market size and forecast 2021-2026 ($ billion)
Exhibit 39: MEA - Year-over-year growth 2021-2026 (%)
7.7 South America - Market size and forecast 2021-2026
Exhibit 40: South America - Market size and forecast 2021-2026 ($ billion)
Exhibit 41: South America - Year-over-year growth 2021-2026 (%)
7.8 Key leading countries
Exhibit 42: Key leading countries
7.9 Market opportunity by geography
Exhibit 43: Market opportunity by geography ($ billion)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Fluctuations in global cocoa production
8.1.2 Rising consumption of confectionery and processed foods
8.1.3 Increased awareness of health concerns
8.2 Market challenges
8.2.1 Fluctuation in oil crop prices due to lack of land
8.2.2 High dependence on imports leading to high costs of end products
8.2.3 Health concerns pertaining to the excessive consumption of fats and oils
8.2.4 Natural disaster risks affecting logistics
Exhibit 44: Impact of drivers and challenges
8.3 Market trends
8.3.1 Rise in the demand for natural cosmetic products
8.3.2 Rising demand for alternatives and added-value ingredients
8.3.3 Increase in microencapsulation of fats and oils to enhance the oxidative stability, thermostability, shelf-life, and biological activity of oils
9. Vendor Landscape
Exhibit 45: Vendor landscape
9.2 Landscape disruption
Exhibit 46: Landscape disruption
Exhibit 47: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 48: Vendors covered
10.2 Market positioning of vendors
Exhibit 49: Market positioning of vendors
10.3 3F Industries Ltd.
Exhibit 50: 3F Industries Ltd. - Overview
Exhibit 51: 3F Industries Ltd. - Product and service
Exhibit 52: 3F Industries Ltd. - Key offerings
10.4 Cargill Inc.
Exhibit 53: Cargill Inc. - Overview
Exhibit 54: Cargill Inc. - Product and service
Exhibit 55: Cargill Inc.- Key news
Exhibit 56: Cargill Inc. - Key offerings
10.5 De Wit Speciality Oils
Exhibit 57: De Wit Speciality Oils - Overview
Exhibit 58: De Wit Speciality Oils - Product and service
Exhibit 59: De Wit Speciality Oils - Key offerings
10.6 Fuji Vegetable Oil Inc.
Exhibit 60: Fuji Vegetable Oil Inc. - Overview
Exhibit 61: Fuji Vegetable Oil Inc. - Product and service
Exhibit 62: Fuji Vegetable Oil Inc. - Key offerings
10.7 IFFCO Group
Exhibit 63: IFFCO Group - Overview
Exhibit 64: IFFCO Group - Product and service
Exhibit 65: IFFCO Group - Key offerings
10.8 Musim Mas Group
Exhibit 66: Musim Mas Group - Overview
Exhibit 67: Musim Mas Group - Business segments
Exhibit 68: Musim Mas Group - Key offerings
10.9 Nisshin OilliO Group Ltd.
Exhibit 69: Nisshin OilliO Group Ltd. - Overview
Exhibit 70: Nisshin OilliO Group Ltd. - Business segments
Exhibit 71: Nisshin OilliO Group Ltd. - Key offerings
Exhibit 72: Nisshin OilliO Group Ltd. - Segment focus
10.10 Olea Fats Inc.
Exhibit 73: Olea Fats Inc. - Overview
Exhibit 74: Olea Fats Inc. - Product and service
Exhibit 75: Olea Fats Inc. - Key offerings
10.11 Puratos NV/SA
Exhibit 76: Puratos NV/SA - Overview
Exhibit 77: Puratos NV/SA - Product and service
Exhibit 78: Puratos NV/SA - Key offerings
10.12 Wilmar International Ltd.
Exhibit 79: Wilmar International Ltd. - Overview
Exhibit 80: Wilmar International Ltd. - Business segments
Exhibit 81: Wilmar International Ltd. - Key offerings
Exhibit 82: Wilmar International Ltd. - Segment focus
11.1 Scope of the report
11.1.1 Market definition
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 83: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 84: Research Methodology
Exhibit 85: Validation techniques employed for market sizing
Exhibit 86: Information sources
11.4 List of abbreviations
Exhibit 87: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Fluctuations in global cocoa production
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