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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