Middle East and Africa Speciality Fats and Oils Market size is worth USD 129.86 million in 2024 and is estimated to be growing at a CAGR of 9.1%, to reach USD 200.73 million by 2029.
Specialty fats & oils are used extensively in food products owing to their characteristic features and they are very important in providing the required physicochemical and sensory features like smoothness, creamy consistency, milky appearance, and flavor. Thus, specialty fats & oils are considered a major business opportunity.
Because of the rise in the Middle East and Africa's demand for chocolate & confectionery products, packaged foods, and focus on reducing processing costs. Food applications of specialty fats & oils hold a major share in terms of usage when compared to other non-food applications like personal care and cosmetics.
The Middle East and Africa Speciality Fats and Oils Market are segmented on the basis of Type into Specialty oil type, Specialty fat type. Specialty oils are segmented as Palm oil, Soybean oil, Coconut oil, Cottonseed oil, Rapeseed oil, and others whereas specialty fats are segmented into Cocoa butter equivalents, Cocoa butter substitutes, Cocoa butter replacers, Cocoa butter improvers, Dairy fats replacers, Exotic fats.
On the basis of Application, the market is segmented into Chocolate & confectionery, Bakery, Dairy, Processed foods, and others.
On the basis of Form, the market is segmented into Dry and Liquid.
On the basis of geography, the Middle East and Africa markets are analyzed under the regions the Middle East and Africa. The countries in this region are emerging economies and thus are expected to provide huge potential for the Specialty Oils and Fats market.
Some of the major companies dominating the market are Bunge Limited, International Foodstuff Company Holdings Limited, Wilmar International Limited, and Cargill, Incorporated.
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