Market Overview:
Specialty oils are rich in omega-6, omega-3, and Vitamin E. It helps to reduce unhealthy cholesterol, reduce oxidative stress hence there is rise in the demand for specialty oils. In recent years, there is rise in the numbers of patients suffering heart ailments, so consumers prefer cold pressed oil over refined oils. Rise in disposable incomes will further support buying of specialty oils which are marketed as a premium product. Hence specialty oil market is growing at CAGR of more than 6% from 2016 to 2023. Leading edible oil companies are focusing more on R&D in terms of product innovations and introducing active key ingredients to edible oil having better functionality. Specialty oils are alternative to conventional edible oils which have extra fat and lipid content. Innovations and upgrading technology have been principle of the research wing. Through extensive research and techniques, the companies are developing functional oils with aided health benefits.
Increasing cardiac health issues associated with the consumption of conventional oils has uplifted the consumption of specialty oils owing to health benefits associated with the consumption which is driving the growth of specialty oils market. Extensive investments are made in research and advanced technologies to enhance product range, and simultaneously provide new hybrids to meet the expanding market needs. Increasing popularity of functional food and specialty ingredients in diet among the population is likely to surge the global specialty oils market owing to high consumption of low-fat oil in diet. Additionally, high acceptance of natural ingredients and green label products in oil processing is supporting the growth of specialty oils market.
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Major Key Players Analysis:
This report includes a study of strategies, of major market players. It includes the product portfolios, developments of leading major players such BST International (Turkey), Afrue (Spain), Corilanga (Italy), La Tourangelle (France), Roland Food (U.S.), Bunge Limited (U.S.), Dr. Adorable (U.S), Agro International ltd (Banladesh), Shiv sales corporation (India), Silverline Chemical Ltd (India), Naturalist, LLC (Russia), Cargill (U.S.), Beidahuang Group (China), J-Oil Mills Inc.(Japan), The Savola Group (Saudi Arabia)
Latest Industry Updates:
Nov-2017 NutriGold launched its new product fish oil plant gels. The product is vegan soft gel made of tapioca to the VMS aisle. Strategic product launches will help in strengthening company’s base and also bring up with new products.
Mar 2017 Landec Corporation a leading innovator of diversified health and wellness solutions within the packaged food and biomaterial markets went through a definitive agreement to purchase O Olive Oil, Inc. This merger will help the company to foster its business segment in specialty oils segment.
Nov 2017 BASF Newtrition Launched accelon Omega-3 Absorption Technology. The company is highly inclined towards R&D activities. This step by the company will help to improve the quality of product line. Additionally, it is also supporting the company to come up with high quality specialized oils.
May 2017 Catalent Pharma Solutions, the leading global provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products, announced its new product launch, fish oil thin shell Easy Burst Chewables. This product is rich in omega-3 fatty acids. The company is targeting more towards new product launch in near future to expand its business segment.
Key Findings:
The edible oils consumption is likely to boost up across the world largely, among the various types specialty oils are likely to gain more demand
Improved government initiatives for fortification of edible oils will encourage specialty oils production globally
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Industry Segment:
The global specialty oils market has been divided into type, process type, application, and region.
On the Basis of Type: Soybean oil, Cottonseed oil, Coconut oil, Palm oil, Rapeseed oil, Others
On the Basis of Process Type: cold pressed, Hot pressed and others
On the Basis of Application: Pharmaceuticals, Food, Cosmetics & Personal Care, and others
On the Basis of Region: North America, Europe, Asia Pacific and ROW.
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