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Edible Oil Co-Products and By-Products Market - Middle East Industry Analysis and Forecast 2016 - 2024

09-01-2021 02:06 PM CET | Health & Medicine

Press release from: Transparency Market Research - Food and Beverages

The Middle East edible oil co-products and by-products market is projected to witness lucrative growth in the coming years, as reported by Transparency Market Research (TMR). The market features a highly competitive business landscape, with vendors using aggressive strategies in order to gain traction in the industry. A rise in import and export of edible oil co-products and by-products is boosting growth opportunities for vendors in the market.

Expansion to untapped regions is another leading strategy used by vendors in the Middle East edible oil co-products and by-products market. The players are engaged in promoting different product types across the Middle Eastern countries. Genome Specialities Fzc, A & B Chemical Corp., Iran Chemical Provider Co., Arabian Environmental Protection Co. and Chemipakhsh Iran Co. Ltd. are some of the prominent vendors operating in the Middle East co-products and by-products market.

According to TMR’s predictions, the Middle East edible oil co-products and by-products market is expected to grow at a 4.20% CAGR in terms of volume over the forecast period 2016 to 2024. The market was estimated to be worth 388,944.3 tons in 2015 and is anticipated to reach 559,775.89 tons by 2024.

Among the product segments, dried soap is projected to account for significant market revenue over the forecast period. This could be attributed to the expanding pool of middle class population in Egypt, bolstering the product segment. Based on geographical segmentation, Egypt is expected to gain prominence over the coming years.

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Demand from Personal Care Industry to Augment Market Development

A major factor that drives market growth revenues in the forecast period is the growing oil and gas sector. Moreover, rising incomes from spreading out, increasing demand for flavors and new tastes, and growing demand from industries such as cosmetics and personal care, are some of the other reasons that the global demand for food and byproducts is expected to grow. However, an insufficient awareness of the benefits of edible oil products and by-products should hamper the growth of the target market in developing countries to some extent.

Iran is a key fabricator and a growing number of petroleum mills for soaps and cleaning agents. The demand for these products is substantially higher in Turkey than in the other countries in the Middle East as a result of increased detergent and soap production and increased disposable incomes in the country.

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Trend of Natural Products to Open Growth Avenues

As an eco-friendly, natural ingredient biodegradable product, the demand is growing. Significant use of soaps and detergents in dried soap stocks is likely. Consumers are also strongly hygienic and focus on preventing viral and bacterial spread. Therefore there are high demands for Saudi soap and detergents and, in return, dried soap stock growth is expected to accelerate. Moreover, Egypt has significantly risen prices of raw feed.

There is therefore a great need for dried soap stock to achieve proper efficiency of use and economical production as an alternative and cheap source of power in poultry diets. Furthermore, the introduction of new products with substantial quality and performance improvement resulted in factors such as increased private sector competition, consumer demand and good governance policy.

This review is based on TMR’s report titled, “Edible Oil Co-Products and By-Products Market (Product Type - Dried Soap Stock, Hard Oil Fatty Acid Distillate, Pure Soft Oil Fatty Acid Distillate, Mixed Soft Oil Fatty Acid Distillate, Pure Acid Oil, Palmitic Acid, Stearic Acid, Sludge, Earth Distillate; End Use - Animal Feed, Soaps and Detergent, Tocopherol, Personal Care Products, Intermediate Chemical) - Middle East Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024”

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About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to industry leaders, consultants, and strategy professionals.

Our reports are single-point solutions for industries to grow, evolve, and mature. Our significant-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These demands are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for client-specific problems with right methodology of research is the key to help enterprises reach right decision.

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