There is a growing demand for specialty fats & oils in the functional food sector. These products are formulated to provide health benefits beyond basic nutrition, such as improving cardiovascular health, reducing cholesterol levels, and promoting weight management. Specialty fast & oils with specific function properties such as omega-3 – 3 fatty acids or medium chain triglycerides (MCT) s, are in high demand.
According to the UnivDatos Market Insights Analysis, The demand for low-fat and low-calorie food items has increased due to consumers' growing health consciousness will drive the global scenario of the Specialty Fats & Oil market and as per their “Specialty Fats & Oil Market” report, the global market was valued at ~USD 12.6 Billion in the year 2022 and is expected to grow at a CAGR of 7% over the forecast period to reach a market valuation of ~USD Billion by the year 2030.
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Functional foods are food products that contain added nutrients, vitamins, or minerals that can provide health benefits to consumers. Specialty fats and oils are increasingly being used in functional foods due to their unique properties and potential health benefits. For example, omega-3 fatty acids found in fish oil and flaxseed oil have been shown to support heart health and reduce inflammation, while medium-chain triglycerides (MCTs) found in coconut oil have been shown to improve weight loss and support brain function.
The demand for functional foods is driven by a growing awareness of the importance of healthy eating and the desire for convenient and easy-to-use food products that can provide specific health benefits. As a result, the specialty fats and oils market are expected to continue to grow as consumers increasingly seek out products that can help them achieve their health and wellness goals. Additionally, the rising demand for plant-based and vegan products is also driving the growth of the specialty fats and oils market, as these products often rely on plant-based sources of fat and oil. Overall, the rising demand for functional foods is a key driver of the specialty fats and oils market and is expected to continue to shape the market in the coming years.
OPPORTUNITIES OF SPECIALITY FATS & OIL
Increasing demand for healthier and sustainable food options: Consumers are becoming more health-conscious and are looking for food options that are lower in saturated fats and higher in unsaturated fats. This has led to an increase in demand for specialty fats and oils that are considered healthier and more sustainable.
Growing awareness of the importance of trans fats: Trans fats are known to increase the risk of heart disease and other health problems. As a result, there is a growing awareness of the importance of reducing trans fats in the diet, which is driving the demand for specialty fats and oils that are free from trans fats.
Increasing demand for plant-based foods: The rise of plant-based diets has led to an increase in demand for specialty fats and oils that are derived from plant sources. This includes fats and oils such as coconut oil, palm oil, and olive oil.
Growing demand for functional foods: Specialty fats and oils are being used to create functional foods that offer health benefits beyond just taste and nutrition. This includes fats and oils that are fortified with omega-3 fatty acids, which are known to have anti-inflammatory properties.
Increasing focus on sustainability: Consumers are becoming more conscious of the environmental impact of their food choices. This has led to an increase in demand for specialty fats and oils that are sustainably sourced and produced.
Growing demand for premium and artisanal products: Consumers are willing to pay more for premium and artisanal products that are made with high-quality ingredients and are produced using traditional methods. This has led to an increase in demand for specialty fats and oils that are made from high-quality sources and are produced using traditional methods.
Increasing demand for convenience: Consumers are looking for convenient food options that are easy to prepare and consume. This has led to an increase in demand for specialty fats and oils that are easy to use and can be incorporated into a variety of recipes.
AMPLE AVAILABILITY OF SOYBEAN OIL IS EXPECTED TO FULFILL THE DEMAND-SUPPLY GAP
One of the main categories of edible oils that predominates in terms of consumption in markets around the world is soybean oil. One of the world's largest producers of soybean oil, North America contributes significantly to the total volume of soybean oil produced worldwide. Due to the strong output in the U.S. and Argentina, soybean oil production is anticipated to continue high, which will lead to reduced soybean oil prices. Additionally, this will make up for the widening imbalance between supply and demand brought on by the depletion of other edible oils like canola and maize oil. The demand for soybean oil on the international market will also be supported by the decreasing price differential between palm and soybean oils. Enzymatically inter-esterified (EIE) high oleic soybean oil is widely used as an alternative to the traditional shortenings made with partially hydrogenated oils (PHOs), due to its excellent stability and functionality.
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Conclusion
The need for alternatives and value-added ingredients throughout the food and beverage industry, as well as an increase in global oil and fat production, are anticipated to support the revenue growth of the specialty fats and oils market. Due to the increased need for specialty oils in various industrial applications, the market for specialty fats and oils has seen substantial expansion over the past few years. Due to the rising need for value-added ingredients in the food and beverage sector over the past few years, research into creating specialty fats and oils has greatly grown.
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