Nutritional Oil Powder Market Survey On Growth Strategies 2029 | Connoils LLC, ABITEC Corporation, Crestchem Ltd.

Evolving Consumer Preferences and Growing Affinity toward Natural Ingredients to Accelerate Market Growth

Over the past couple of decades, significant research has been carried out within the food industry to find food products and ingredients that offer the desired levels of nutrition and have no negative effects on the body. Furthermore, evolving consumer interests, tectonic shift toward a healthier lifestyle, and surge in consumer consciousness are some of the factors that have led to the growing demand for niche food products, including nutritional oil powder. The nutritional oil powder market is gradually maturing into a full-fledged industry across the world, as food manufacturers and other stakeholders in the value chain are launching different variants of nutritional oil powder to fulfill the ascending consumer demand, particularly in North America, Europe, and APAC.

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Over the past few years, nutritional oil powder are increasingly being used in sports nutrition, cosmetic & personal care products, nutraceuticals, animal nutrition, and the food processing industry. Consumer affinity toward sustainable and natural products and ingredients is another factor that is expected to enhance the adoption of nutritional oil powder during the forecast period (2019-2027). Thus, demand for natural food products is expected to drive the nutritional oil powder market, which is projected to reach a value of ~US$ 2.1 Bn by 2020.

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Nutritional Oil Powder Gains Popularity among Vegans

The shift toward veganism and vegetarianism is a growing trend across the world. The number of vegans and vegetarians has increased at a rapid pace in the past few years, owing to growing consumer awareness pertaining to the ill effects of meat consumption, environmental concerns, and animal cruelty. While vegan and vegetarianism continue to gather traction, consumer trends suggest a substantial surge in the adoption of soybean oil powder. This growth can be primarily attributed to the appropriate blend of protein and high fat content in soybean.

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In recent times, the demand for soybean oil powder has increased at a rapid pace. In 2019, ~92,371 metric tons of soybean oil powder was consumed worldwide, and it is projected that ~133,362 metric tons of soybean oil powder will be consumed by the end of 2027. Moreover, non-vegan consumers are also exploring the potential benefits of other alternatives, including palm oil powder, coconut oil powder, and fish oil powder. Palm oil powder and soybean oil powder are expected to account for a collective market share of ~50 % in 2020, a trend that is expected to continue during the forecast period.

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Nutritional Oil Powder Market: Regional Overview

In terms of value, Asia Pacific is expected to lead the nutrition oil powder market with 35.5% share by 2019, in terms of consumption. It is likely to remain strong and retain its position during the forecast period.
The nutrition oil powder market in Asia Pacific is projected to grow at the highest rate during the forecast period. This market in Latin America is expected to witness strong growth, expanding at a CAGR of ~7%.

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