Global Specialty Oils Market – Overview
Speciality oils have expanded the market for edible oils with the inclusion of a wide variety of oils from sources such as nuts, fruits, seeds, and vegetables. Market focused reports connected to the food, beverages nutrition industry among others of late have been made accessible by Market Research Future which issues reports on this industry. The market is projected to achieve an incredible CAGR percent in the forecast period.
The health benefits of specialty oils in aiding with health issues such as cardiac health have increased consumer preference towards the product offering of the market. With consumer interest in specialty oils peaking due to rise in consumer awareness has increased the potential for the growth of the market. The competitors in the market are responding to this demand surge by investing in the market in terms of the production processes and product variety. The enhancements of the production process will aid in the development of the product quality which will spur further growth in the market during the forecast period.
Industry Segments
The specialty oils market segmented into process type, type, application, and region. By type, the market consists of cottonseed oil, soybean oil, coconut oil, palm oil, rapeseed oil and others. The process type for specialty oil extraction is divided into cold pressed, hot pressed, and others. The application basis for specialty market includes pharmaceuticals, food, cosmetics personal care, and others. The regions covered in the market consists of North America, Europe, Asia Pacific and ROW.
Detailed Regional Analysis
The specialty oils market globally is segmented into APAC, North America, Europe and Rest of the World (RoW). Between all the regions covered in the market, the Asia Pacific region is likely to maintain its lead through the forecast period. The Asia Pacific region includes emerging countries such as China, India, Malaysia, and Indonesia. India has been observed to be a key consumer of palm oil. Growing consumption of oils and the demand for soybean and palm oils is motivating the market growth in the region. Similarly, growing diagnosis of cardiac diseases among the users in European nations is also positively inducing high overall sales specialty oils in the forecast period. Also, Europe is also a lucrative destination for the specialty oils manufacturers during the forecast period.
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Global Competitive Analysis
The probabilities for growing revenue inflow in the business are estimated to increase through the forecast period. The market trends have also created the need to safeguard financial sustainability to invest in growth opportunities as and when they arise. Competitors are also spending a certain amount in innovation to provide a certain degree of innovation in the market and expand the avenues for growth especially in the duration of the forecast period. The escalating interest in diversification within the business has indirectly permitted the businesses to use several situations obtainable in the market. Businesses are also incessantly attempting to create financial leverage, to be better positioned to make the most of the market gains. The aim of the firms in the market to grow their shareholder's value while enhancing the capability to power their competitive edge has enabled the company’s growth to a great extent.
The prolific competitors profiled in specialty oils market are Roland Food (U.S.), Bunge Limited (U.S.), La Tourangelle (France), Dr. Adorable (U.S), BST International (Turkey), Agro International ltd (Banladesh), Afrue (Spain), Corilanga (Italy), Shiv sales corporation (India), Cargill (U.S.), BEIDAHUANG GROUP (China), Silverline Chemical Ltd (India), Naturalist, LLC (Russia), J-OIL mills Inc.(Japan) and the Savola Group (Saudi Arabia).
Industry Updates:
April 2018 Viobin L.L.C., a producer of defatted wheat germ and specialty oils has been acquired by Panhandle Milling L.L.C. Following the acquisition, Viobin will function as a PHM Brands company. Viobin focusses on nutritional extracts. The company stated its wheat germ oil is extensively used in nutrition bars, cosmetic and hair products, and nutritional supplements for animals and as a supplement for humans.
