UAE Specialty Fats & Oils Market to Grow with a CAGR of 18.58% through 2028

UAE's specialty fats and oils market is experiencing significant growth driven by a variety of factors such as health and wellness trends, culinary diversity, and innovation within the food industry.

According to TechSci Research report, “UAE Specialty Fats & Oils Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the UAE Specialty Fats & Oils Market stood at USD 10.09 million in 2022 and is anticipated to grow with a CAGR of 18.58% in the forecast period, 2024-2028. The United Arab Emirates (UAE), with its glittering cities, diverse culture, and thriving culinary landscape, has emerged as a prominent player in the global specialty fats and oils market.

The UAE's multicultural society, comprising both local citizens and a vast expatriate population hailing from over 200 nationalities, has enriched its culinary landscape. This diverse cultural tapestry has given rise to a remarkable fusion of flavors and dishes, each with its unique use of specialty fats and oils. Whether it's the aromatic ghee in traditional Emirati cuisine, the fragrant olive oil in Mediterranean dishes, or the versatile coconut oil in South Asian fare, specialty fats and oils play an integral role in the UAE's culinary tradition.

In recent years, the UAE has witnessed a growing emphasis on health and wellness, resulting in shifting dietary preferences among its residents. Many consumers are seeking healthier alternatives and specialty fats and oils that align with their dietary choices. This shift has driven the demand for specialty oils like avocado, grapeseed, and flaxseed oil, which are perceived as healthier options due to their unique nutritional profiles. As health-conscious eating becomes more prevalent, the specialty fats and oils market in the UAE is adapting to meet these evolving consumer needs.

Dubai, often dubbed the "City of Gold," is renowned for its international cuisine scene. The city's vibrant dining landscape includes everything from Michelin-starred restaurants to bustling street food markets. This globalization of food culture has led to an increased awareness of international cooking styles and ingredients, including a wide variety of specialty fats and oils. As Dubai's residents and visitors indulge in global flavors, the demand for specialty fats and oils used in diverse cuisines continues to grow.

The UAE's thriving hospitality and food service sector, which includes hotels, restaurants, and catering services, significantly contributes to the specialty fats and oils market. Dubai, in particular, is home to some of the world's most renowned chefs and culinary establishments. These establishments require a diverse range of specialty fats and oils to meet the expectations of discerning customers. High-quality oils such as extra virgin olive oil, truffle oil, and clarified butter are essential ingredients in creating gourmet dishes, adding to the market's robustness.

The UAE government has been proactive in ensuring food security and the availability of essential commodities, including fats and oils. Initiatives such as the UAE Food Security Strategy emphasize the importance of local food production and self-sufficiency. This has led to investments in agriculture and food manufacturing, including the production of specialty fats and oils within the country. Local production not only supports food security but also contributes to the diversification of the UAE's economy.

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While the specialty fats and oils market in the UAE presents promising opportunities, it is not without its challenges. Intense competition among numerous local and international brands requires companies to continuously innovate and differentiate themselves. Rising health concerns and changing dietary preferences necessitate product development to align with consumer demands for healthier options. Moreover, fluctuations in global commodity prices can impact the pricing of specialty fats and oils in the market, affecting both consumers and businesses.

The future of the UAE's specialty fats and oils market is characterized by a blend of tradition and innovation. As the country continues to embrace its cultural diversity and health-conscious consumers, the market is expected to witness a surge in demand for specialty oils with unique health benefits. Trends such as cold-pressed oils, organic and sustainably sourced fats and oils, and customized blends are likely to gain traction. Additionally, as Dubai positions itself as a global food hub, the market will continue to be influenced by international culinary trends and the demand for high-quality ingredients.

UAE specialty fats & oils market is segmented into type, form, functionality, application, and region.

Based on type, the market is segmented into specialty fats and specialty oils. Among these, specialty oils have a significant share of the UAE specialty fats & oils market. One of the primary drivers behind the prominence of specialty oils in the UAE's market is the increasing awareness of health and wellness among consumers. Specialty oils, such as avocado oil, flaxseed oil, and walnut oil, are often perceived as healthier alternatives due to their unique nutritional profiles. These oils are valued for their potential health benefits, including heart-healthy properties, high antioxidant content, and omega-3 fatty acids.

Based on region, the market is segmented into Dubai, Abu Dhabi, Sharjah, Ajman, and Rest of UAE. Among these, Dubai has a significant share of the UAE specialty fats & oils market. Dubai's multicultural and diverse population, comprising both locals and expatriates from around the world, has cultivated a thriving culinary landscape. This diversity is reflected in the city's eclectic dining scene, encompassing an array of international cuisines. Specialty fats and oils play a pivotal role in enhancing the authenticity and flavors of these diverse culinary traditions.

Major companies operating in UAE specialty fats & oils market are:

• Parisons Paras Group
• Aak Kamani Private Limited
• GEF
• Wilmar International
• Cargill
• Musim Mas
• International Foodstuff Company Limited (IFFCO)
• Mewah International
• Fuji Oil
• D&L Industries     

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 “The UAE Specialty Fats & Oils market is poised for continued growth. As the country's coffee the UAE's specialty fats and oils market mirrors the nation's culinary richness and commitment to food security. As Dubai and the UAE as a whole embrace global culinary influences and wellness trends, the specialty fats and oils sector is poised for continued growth and innovation. The country's culinary journey, characterized by a harmonious blend of tradition and innovation, underscores its significance in the global specialty fats and oils market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“UAE Specialty Fats & Oils Market By Type (Specialty Fats and Specialty Oils), By Form (Dry and Liquid), By Functionality (Molding, Texturing, Filling, Coating, Health, and Others), By Application (Chocolates & Confectioneries, Processed Foods, Bakery Products, Dairy Products and Others), By Region, By Competition Forecast & Opportunities, 2018-2028F, has evaluated the future growth potential of UAE specialty fats & oils market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in UAE specialty fats & oils market.

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