Growth Opportunity Assessment - Hydrogenated Vegetable Oil Market
Hydrogenated Vegetable Oils are processed through chemically adding up the hydrogen to an edible vegetable oil with the aid of any catalyst. This process is known as hydrogenation and it yields out a semi-solid fat. A powdered Nickel compound is one among the multiple catalysts used for the commercial formulation of hydrogenated vegetable oils. The process of hydrogenation is carried out by agitating the vegetable oil at a high temperature & pressure with hydrogen in presence of a catalyst. The main motive behind this processing of vegetable oil is to enhance the ability of the oil to resist oxidation which is called as rancidity. This allows the hydrogenated vegetable oils to sustain for a longer period and offer an expanded shelf life for edible products which use oil as an ingredient such as in packaged snacks. Moreover, the hydrogenated vegetable oil finds application in cosmetics, body care, and skin care products.
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Hydrogenated Vegetable Oil Market Segmentation
The hydrogenated vegetable oil market is segmented on the basis of product type, application, end-use, distribution channel, and region. On the basis of product type, the hydrogenated vegetable oil market is segmented as solid and semi-solid. This segmentation is classified on the basis of the degree of hydrogenation. The fully hydrogenated vegetable oils resulted in the solid base of end product while partially hydrogenated vegetable oils result in the semi-solid product type.
On the basis of application hydrogenated vegetable oil market is segmented as; cosmetics & personal care, food processing and, others. The hydrogenated vegetable oil finds the higher share in cosmetics & personal care application segment attributing to a large number of market players available in the industry who produce cosmetic grade hydrogenated vegetable oil for application in cosmetics, skincare and body care products.
On the basis of end-use, the hydrogenated vegetable oil market is segmented into commercial/industrial, HoReCa and household. The share of commercial/industrial segment in the hydrogenated vegetable oil market is high and is anticipated to capture more share in the near future.
On the basis of the distribution channel, the hydrogenated vegetable oil market is segmented into direct sales and indirect sales. The indirect sales segment can be further sub-segmented into modern trade, retail stores, online retailers and others. There exists an increasing demand for hydrogenated vegetable oils as an ingredient in cosmetics and food processing sectors, whereas its utilization for cooking both in household and HoReCa levels are declining over the years this is shifting the trend for hydrogenated vegetable oils from being B2C market (business to consumer) to B2B market (business to business).
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On the basis of the region, the hydrogenated vegetable oil market is segmented into Asia Pacific, North America, Latin America, Europe, Middle East and Africa and Japan. The North America and Europe represent a potential market for hydrogenated vegetable oils with application inclined towards cosmetic industries owing to the multiple market players available in this region who are involved in the production of hydrogenated vegetable oil for cosmetic grade application. Moreover, Asia Pacific region still remains a stable for hydrogenated vegetable oil market with a large segment of consumer base still using the hydrogenated vegetable oil products in direct cooking.
Hydrogenated Vegetable Oil market Global Market Trends and Market Drivers:
Owing to the Europe’s position as the center of the world’s cosmetic industry and cosmetics being one of the biggest markets in Europe which solely drives the global demand for hydrogenated vegetable oil as an essential ingredient in many of the existing cosmetics and other body care, skin care, body massage and other similar products. Thus, hydrogenated vegetable oil market still holds future growth potentials with applications in cosmetic industry. Moreover, the limited but still continuing utilization of hydrogenated vegetable oils in the food processing industry especially for package food products which demand expanded shelf life is driving the growth in the hydrogenated vegetable oil market. On the flip side, the intake of hydrogenated vegetable oil in cooking result in the generation of bad cholesterol in the body, also the higher consumption of it results in declining level of good cholesterol in the human body. Owing to this negative health effects of hydrogenated vegetable oil on human health coupled with the rising hearth health and obesity incidences around the globe turned down the consumers to become more health consciousness which narrowed down utilization of hydrogenated vegetable oil products for direct cooking. This obstructs the overall growth of hydrogenated vegetable oil market globally.
Hydrogenated Vegetable Oil Market Key Players:
Variety of Hydrogenated Vegetable oil products with multiple formulations have been introduced by the manufacturers and some of the global market players in Hydrogenated Vegetable oil market include; AAK AB, BASF Canada INC, Hallstar, Symrise, Res Pharma, Evonik Dr. Straetmans GmbH, Frank B. Ross, Inc., Nisshin Oillio Group, Ltd., Cargill, Incorporated are among others.
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