Specialty Oils Industry report predicts impressive growth by 2023 just published

Market Insight

Owing to its alluring features and wonderful benefits, specialty oils are widely used in various industries such as snacks and beverages, bakery, dairy and others. Specialty oils is not limited to just one variety. It includes different sources such as rapeseed oil, coconut oil, palm oil, cottonseed oil, soybean oil and others. The oil is perfectly extracted from the source utilizing one amid the varied defined processes. These oils have various uses right from adding direct flavor to the food, for cooking, as solvents for injections or oral suspensions or carrier systems for hard/soft gels and capsules, or in skin and hair products.

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The different factors that accounts for the soaring demand for specialty oils market as per the MRFR (Market Research Future) report include rising cardiac health problems, multiple health benefits, product innovations, introduction of active key ingredients, upgrading technology and innovations, huge investments in advanced and research technologies, rising popularity of specialty ingredients and functional food, high acceptance of green label products and natural ingredients, consumer awareness campaigns, rise in obese population, and diseases occurring from high fat consumption.

Key Players

Leading players profiled in the Specialty Oils Industry include The Savola Group (Saudi Arabia), J-OIL MILLS INC.(Japan), BEIDAHUANG GROUP (China), Cargill (U.S.), Naturalist, LLC (Russia), Silverline Chemical Ltd (India), Shiv Sales Corporation (India), Agro International ltd (Bangladesh), BST International (Turkey), Corilanga (Italy), AFRUE (Spain), Dr. Adorable (U.S), Bunge Limited (U.S.), Roland Food (U.S.), and La Tourangelle (France).

Market Segmentation

Based on process type, the specialty oils market is segmented into cold pressed, hot pressed and others. Of these, cold pressed will lead the market as this process is simpler and yields maximum oil from the seeds.

Based on application, the specialty oils market is segmented into cosmetics and personal care, pharmaceuticals, food and others. Of these, the food segment is likely to hold its dominance due to growing awareness of consumers about personal health coupled with increasing use of specialty oils in cosmetics and personal care products.

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Regional Analysis

Based on region, the global specialty oils industry covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, the specialty oils market in the APAC region will stay at the forefront. India is the largest consumer of palm oil. Demand for soybean and palm oil and growing consumption of oils will boost the growth of the market in this region. Rising cardiac ailments among consumers in the European countries will positively influence the sales of specialty oils during the forecast period. Besides, Europe is an attractive destination for manufacturers of specialty oils.

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