Normal and Specialty Fats Market Is Set For Lucrative Growth To 2030
Normal and Specialty Fats Industry The global normal & specialty fats market size is anticipated to reach USD 51.4 billion by 2027, registering a CAGR of 7.4% during the forecast period, according to a new report by Grand View Research, Inc. Consumption of various bakery products such as bread, rolls, cookies, pies, pastries, and muffins is expected to play an important role in rising demand for fats in various bakery formulations. Dairy foods are expected to register steady rise in demand. Rapid urbanization and improving consumer lifestyle have led to increased consumption of dairy products such as cheese, ice creams, yogurt, and dips among others. This is expected to fuel the demand for fats in dairy products. Normal and specialty fats are mainly extracted from vegetable oils such as palm, soybean, rapeseed, and sunflower oils. Among these, palm oil is prominently used for fat production. Indonesia and Malaysia are the major palm oil producers and accounted for...