Global Specialty Fats Revenue Is Nearly 4.93 Billion USD In 2017
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In the last several years, global market of specialty fats developed rapidly, with an average growth rate of 6.39%. In 2017, global revenue of specialty fats is nearly 4.93 billion USD; the actual consumption is about 6.98 million MT.
The global average price of specialty fats is in the decreasing trend, from 762 USD/MT in 2013 to 706 USD/MT in 2017. With the situation of global automotive industry, prices will be in fluctuation trend in the following five years.
The classification of specialty fats includes cocoa butter equivalents, cocoa butter substitutes and other types, and the proportion of cocoa butter equivalents in 2017 is about 31.26%.
Specialty fats are widely used in household, restaurant, industry and other field. The most proportion of Specialty Fats is industry field, and the market share in 2017 is about 38.64%.
Asia-Pacific is the largest consumption place, with a consumption market share nearly 68% in 2017. Following Asia-Pacific, Europe is the second largest consumption place with the consumption market share of 13%.
Market competition is intense. AAK AB, Mewah Group, Cargill, Wilmar, IOI Group, etc. are the leaders of the industry, and they hold key technologies and market, with high-end customers; have been formed in the large market share in the industry.