Nutritional Oil Powder Market Worth US$ 3.2 Bn by 2027
A recent report published by Transparency Market Research on the nutritional oil powder market includes global industry analysis and opportunity assessment for 2019-2027. Revenue generated from the nutritional oil powder market has been estimated to be valued at ~US$ 2 Bn in 2019, which is projected to increase at a CAGR of ~6%, to reach US$ 3.2 Bn by 2027.
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Extensive Research and Development Activities to Fuel Market Growth
Nutritional oil powder derived from various sources, including soybean, canola, fish, sunflower, and others, is used in various products in food & beverages industry, cosmetics, nutraceutical, sports nutrition, and animal nutrition. The functionality of the nutritional oil powder in different product differs depending on the end-use product. With extensive research and development activities, the role of the nutritional oil powder may be studied. This may create opportunities by improving efficiency of existing product line and formulation of advanced multi-functional powder to gain strong market presence.
Increase in Utilization of Cosmetics and Personal Care Products Creates Growth Opportunities for Market Players
K-beauty and J-beauty products have caused a significant stir globally. With the increasing influence of social media, besides rising popularity of Korean dramas in Asian countries and outside, the demand for Korean or similar beauty products derived from natural ingredients has risen.
Nutritional oil powders are used in skin care, hair care, color cosmetics, lotions, and other products due to its multiple functionalities. Rising consumer awareness about the use of products providing beneficial and nourishing abilities is fueling the demand for cosmetics and personal care products. Companies manufacturing cosmetics and personal care products are also investing in research and development activities for successful incorporation of nutritional oil powder in end products. Driven by these factors, nutritional oil powder market is expected to witness a surge in demand.
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Rise in Use of Herbal Products in Dietary Supplements Bolsters Market Growth Prospects
Due to their nutritional benefits, several herbal products are being largely incorporated in health and dietary supplements. Ancient techniques have praised plants and plant-based ingredients for their excellent remedial and immune boosting properties. Moreover, due to recent technological developments and research activities, the demand for plant-based ingredients has surged. Nutritional oil powder is majorly plant-based and is therefore, witnessing demand from dietary supplements manufacturers. Nutritional oil powder helps in cholesterol control and reducing weight. In addition, it has abundance of DHA, ALA, and Omega-3 present in it. Studies have proven that nutritional oil powder consumption can reduce the risk of heart diseases, lower blood fat, decrease high blood pressure, reduce inflammation, and improve lung functions. These beneficial attributes are likely to drive the sales of nutritional oil powder market enabling it to exhibit strong growth during the forecast period.
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