AbstractTriglyceride composition is an important consideration in the development of fat systems for food products. Depending on the approach to formulation, physicochemical properties may be equally important. Analytical methodologies exist to determine composition and properties. Two systematic routes to the formulation of functional fats are possible—replication of triglyceride composition and approximation of physicochemical properties. Approaches to formulation of fat systems which are based on replication of triglyceride composition have achieved only limited success to date. Limiting factors include lack of commercial technology for converting readily available triglyceride structures to more valuable isomers, and limited availability at high cost of alternative fat sources containing the desired triglycerides. Approaches to formulation of fat systems which are based on fat systems whose physicochemical properties meet the desired functional attributes of the end use system irrespective of their triglyceride compositions are widely employed in the development of formulated foods. Such products are not expected to achieve functional identity to existing counterparts. Nevertheless, key attributes can be successfully approximated with this approach.