Global Partial Hydrogenated Oil Market Size Is Surpassing USD 993.93 Million by 2030, Growing at Projected 4.7% CAGR
The North America is emerged as the second largest market for the global partial hydrogenated oil market. This growth is attributed to the demand for vegetable oil, microwaveable popcorn, vegetable shortening, non-dairy coffee creamers, potato and corn chips, bakery items and pre-made pizza dough and frosting.
Newark, Oct. 04, 2023 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, The global partial hydrogenated oil market is expected to grow from USD 686.76 million in 2022 to USD 993.93 million by 2030, at a CAGR of 4.7% during the forecast period 2022-2030.
Partial hydrogenated oil is broadly used in all pastries, cookies and frosting applications, and the bakers are looking for its replacement and using alternatives. Palm Kernel oil is the most used alternative for PHOs as it offers similar structural integrity. Other techniques are also getting used to produce shortening or margarine from vegetable oil and not using partial hydrogenation like blending fully hydrogenation oil with other oils and interesterification. Also, FDA is no longer considering PHO as safe. However, PHO leads to trans fat, which reduces the levels of high-density lipoprotein (HDL) cholesterol, also known as good cholesterol. The surge in the LDL cholesterol and decrease in the HDL cholesterol can increase the risk of the person developing heart attack, stroke and type 2 diabetes. High in trans fats, it increases the risk of cardiovascular disease, raises cholesterol and triglycerides and increases the inflammation response in the body. The high level of trans fats is also associated with worsening memory function. All these factors are acting as a restraint for the market.
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To enhance their market position in the global partial hydrogenated oil market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• For example, in October 2016, Bunge North America boosted its oil line by acquiring Whole Harvest Foods, LLC. The latter organization uses cottonseed, expeller-pressed canola and soy oils to produce the products like pan sprays, frying oils and liquid butter alternatives. This acquisition complements Bunge’s line of trans-fat-free oils when the organization is looking for an option to comply with the FDA’s decision on partially hydrogenated oils. This is helping the organization to expand its market share.
Market Growth & Trends
The manufacturers cannot add partially hydrogenated oil to food as of June 18, 2018. But some food still contains PHO at present. These foods are bakery items, microwaveable popcorn, vegetable shortening, vegetable oil, pre-made pizza dough, frosting, non-dairy coffee creamers, and potato and corn chips, among others. The World Health Organization is reaching out the governments to eliminate trans-fatty acids from the Global food supply by 2023, and many countries have already started following.
• In 2022, the conventional segment dominated the market with the largest market share of 80.62% and market revenue of 553.66 million.
The nature segment is divided into conventional and organic. In 2022, the conventional segment dominated the market with the largest market share of 80.62% and market revenue of 553.66 million. For converting soybean, cottonseed and other liquid oil to solid, the oil is heated in the presence of hydrogen and the catalyst. The hydrogenation removes part of the double bonds and converts some unsaturated fatty acids into saturated fatty acids. This process led to the solidification of oil and increased the melting point, thus improving the oxidation resistance.
• In 2022, lubricants segment dominated the market with the largest market share of 56.48% and market revenue of 387.88 million.
The application segment is divided into surface coatings and lubricants. In 2022, lubricants segment dominated the market with the largest market share of 56.48% and market revenue of 387.88 million. This growth is attributed to the hydrogenated vegetable oil’s broad applications, and it is used as tablet and capsule lubricants, tablet binders (matrix formers) and suppository bases.
• In 2022, food segment dominated the market with the largest market share of 51.67% and market revenue of 354.84 million.
The end user segment is divided into food and non-food. In 2022, food segment dominated the market with the largest market share of 51.67% and market revenue of 354.84 million. Manufacturers initially used PHO to increase the shelf life of food, add flavour, and save money. It is an inexpensive substitute for lard and butter as it improves the food texture.
• In 2022, offline segment dominated the market with the largest market share of 78.63% and market revenue of 540.03 million.
The distribution channel segment is divided into online and offline. In 2022, offline segment dominated the market with the largest market share of 78.63% and market revenue of 540.03 million. More capital is getting invested in focusing on detecting and assessing the qualities and attributes of partially hydrogenated oil.
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Regional Segment Analysis of the Partial Hydrogenated Oil Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region occurred as the largest market for the global partial hydrogenated oil industry, with a market share of 39.75% and a market value of around 273.01 million in 2022. In the region, the major source of TFA is vegetable oil products like bakery fats, vanaspati ghee, and shortening made using partial hydrogenation methods. North America is having the second highest market share in the partial hydrogenated oil market. Several different products like hair care items, lipsticks and lotions contain this oil. Despite several risks, many cosmetic and personal care items still consist of partly hydrogenated oil.
|Report Coverage||Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa|
|Market Size(unit)||Revenue (USD Million)|
|Vape Catridge Market CAGR||4.7%|
|Segments Covered||Key Segments are nature, application, end user, distribution channel and regions|
Key players operating in the global partial hydrogenated oil market are:
• Bunge Limited
• Louis Dreyfus Company (LDC)
• Rein OIl
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global partial hydrogenated oil market based on below mentioned segments:
Global Partial Hydrogenated Oil Market by Nature:
Global Partial Hydrogenated Oil Market by Application:
• Surface Coatings
Global Partial Hydrogenated Oil Market by End User:
Global Partial Hydrogenated Oil Market by Distribution Channel:
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About the report:
The global partial hydrogenated oil market is analysed based on value (USD Million) and Volume (Tons). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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