Specialty Fat and Oil Market to Reach $85.94 Billion by 2034, Driven by Clean Label & Functional Food Trends

Major Confectioners Addressing Demand for Healthy Ingredients Using Specialty Fats and Oils for Tradeoff between Taste and Health Benefits: Fact.MR Report

/EIN News/ -- Rockville , March 17, 2025 (GLOBE NEWSWIRE) -- According to a recently released research report by Fact.MR, global sales of specialty fats and oils reached US$ 54.81 billion in 2024 and thereafter increase at a CAGR of 4.6% from 2024 to 2034.

Specialty fats and oils are anti-inflammatory, making them ideal for cosmetics and personal hygiene products. Cosmetic companies constantly seek high-quality, consistently available specialty oils with added benefits. The antioxidants in these fats fight against free radicals, promoting skin renewal and supporting the growing popularity of natural cosmetics. Manufacturers of food and cosmetic products in developed countries are drawn to specialty oils and fats with authentic and trustworthy certifications.

Leading confectioners and bakeries are meeting consumers’ demand for healthy ingredients by incorporating specialty fats and oils and balancing taste with health benefits in processed foods. Increasing investments in research and development efforts lead to the development of new and healthier substitutes for traditional fats and oils, driving innovation in the market.

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Key Takeaways from the Market Study

• The global specialty fat and oil market is evaluated to reach US$ 85.94 billion by the end of 2034.
• The market in Japan is poised to reach US$ 3.55 billion in 2024.
• Demand for specialty fats and oils in the United States is forecasted to rise at a CAGR of 5% from 2024 to 2034.
• China is set to capture a market share of 48.9% in the East Asian region in 2024.
• Revenue from the butter segment is expected to reach US$ 7.56 billion in 2024.

“Specialty fats and oils derived from nuts, seeds, and avocados are in increased demand as more people switch to plant-based diets. Specialty fats and oils with genuine certifications appeal to food and cosmetic manufacturers,” says a Fact.MR analyst.

Key Market Players Driving the Specialty Fat and Oil Market

The key businesses driving the Specialty Fat and Oil Market include Cargill Inc.; Kiril Mischeff; Nestle S.A.; Ariza B.V.; Tree Top Inc.; Shimla Hills Offerings Pvt. Ltd.; SunOpta Grains and Foods Inc.; The Kraft Heinz Co.; Nestle S.A.; Newberry International Produce Limited; Grunewald Fruchtsaft GmbH.   

Expansion of Global Production of Oils and Fats Ensuring Steady Supply of Raw Materials

Demand for healthier ingredients in the food and beverage industry, along with the rise in global production of oils and fats, is projected to drive the growth of the specialty fat and oil market during the forecast period. Specialty fats and oils are becoming more and more popular in various industrial applications.

Research into creating specialty fats and oils has significantly increased as a result of the food and beverage industry's growing demand for ingredients with added value. Shea butter and palm oil derivatives are widely used as cocoa butter substitutes. Researchers and manufacturers in the food industry are striving to create ingredients that offer a balance of taste and nutritional value.

Global Competition in the Specialty Fat and Oil Market

Leading companies in the specialty fat and oil industry focus on extensive research and development, making substantial investments in innovation. Major players adopt strategies such as mergers, acquisitions, and geographic expansion to strengthen their market presence.

In November 2021, Cargill Incorporated invested approximately $35 million to expand its production facility in Port Klang, Malaysia, addressing the rising consumer demand for specialty fats. This marks the initial phase of a multi-year global investment plan, which is projected to surpass $100 million and significantly enhance the company’s specialty fats portfolio worldwide.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the specialty fat and oil market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges insights into the market based on product (specialty oils, specialty fats, lauric fats, creaming fats, anhydrous milk fats, butter, margarine, shortenings) and end use (industrial, food & beverages, personal care & cosmetics, commercial, households), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).

Discover Additional Market Insights from Fact.MR Research

The global fats and oils market, valued at US$ 246 billion in 2022 with a 3.8% year-over-year increase, is projected to grow at a 4% CAGR, reaching US$ 364.12 billion by 2032.

The global interesterified fat market, valued at US$ 184.2 million in 2024, is projected to reach US$ 284.2 million by 2034, driven by the growing replacement of trans fats with interesterified fats in shortening and margarine bases to address rising cardiovascular health concerns.

The global canola oil market, valued at US$ 415 million in 2022, is projected to reach US$ 625 million by 2032-end, growing at a CAGR of 3.6%, with leading manufacturers Bunge, ADM, and Louis Dreyfus Company collectively expected to hold a 31% market share.

The global bergamot oil market, valued at US$ 21.2 billion in 2022, is projected to reach US$ 31.5 billion by 2027, expanding at a CAGR of 8.2%, with organic bergamot oil expected to dominate nearly 64% of the market share due to rising consumer preference for natural ingredients.

The global bulgur market is valued at US$ 1.26 billion in 2024 and is projected to grow at a 5.4% CAGR to reach US$ 2.14 billion by 2034, with fine bulgur demand expected to rise at a 6%.

The global food-grade xanthan gum market is projected to grow at a 4.8% CAGR, reaching a valuation of US$ 689.2 million by 2034, up from US$ 431.2 million in 2024.

The global mascarpone cheese market, valued at US$ 3,104.2 million in 2024, is projected to grow at a CAGR of 7.30%, reaching US$ 6,295.8 million by 2034.

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