Wilmington, Delaware , April 03, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Fatty Acids, Vegetable-oil, Me Esters, Sulfurized Market by Type (Fatty Acids, Vegetable Oil, Me Esters, Sulfurized), by Application (Food, Industrial, Biodiesel, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the "fatty acids, vegetable-oil, me esters, sulfurized market" was valued at $237.8 billion in 2022, and is estimated to reach $397.4 billion by 2032, growing at a CAGR of 5.4% from 2023 to 2032.
Prime determinants of growth
The global fatty acids, vegetable-oil, Me esters, sulfurized market is experiencing growth due to several factors such as the growing consumer awareness towards healthier dietary habits, driving demand for vegetable oils in food and nutraceutical industries. In addition, rise in adoption of biodiesel as a renewable energy source fuels demand for vegetable oil-based Me esters. However, fluctuations in raw material prices and regulatory hurdles in biodiesel production hinder the market growth. Moreover, the expanding applications of fatty acids and vegetable oils in cosmetics, pharmaceuticals, and industrial sectors offers remunerative opportunities for the expansion of the fatty acids, vegetable-oil, Me esters, sulfurized market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size In 2022 | $237.8 Billion |
| Market Size In 2032 | $397.4 Billion |
| CAGR | 5.4% |
| No. Of Pages In Report | 251 |
| Segments Covered | Composition, Type, Application, And Region. |
| Drivers | Type, Application And Region. |
| Opportunities | Rise In Demand For Bio-Based Lubricants Growing Adoption Of Fatty Acids, Vegetable Oil, Methyl Esters, And Sulfurized Derivatives In Personal Care Products |
| Restraints | Health Concerns Related To The Consumption Of Certain Fatty Acids And Oils |
The vegetable oil is expected to grow faster during the forecast period.
By type, the fatty acids segment held the highest market share in 2022, accounting for nearly half of the global fatty acids, vegetable-oil, Me esters, sulfurized market revenue and is likely to retain its dominance during the forecast period. This can be attributed to the fact that fatty acids are organic molecules characterized by a long hydrocarbon chain capped by a carboxyl group. They are crucial components of lipids, serving as building blocks for cell membranes and energy storage. Fatty acids play essential roles in biological processes such as metabolism, hormone regulation, and cellular signaling. They are also utilized in various industrial applications, including the production of soaps, detergents, cosmetics, and food additives. In addition, certain fatty acids, such as omega-3 and omega-6, are recognized for their health benefits and are commonly incorporated into dietary supplements and functional foods.
However, the vegetable oil segment is projected to attain the highest CAGR of 5.7% from 2023 to 2032. This can be attributed to the fact that vegetable oil is a type of plant-derived oil extracted from seeds, fruits, or nuts. It is commonly used in cooking, baking, frying, and food preparation due to its neutral flavor, high smoke point, and versatility. Vegetable oils serve as essential ingredients in various cuisines globally, providing moisture, texture, and flavor to dishes. In addition, they are utilized in non-food applications such as biofuels, cosmetics, lubricants, and pharmaceuticals. With their abundant availability and diverse properties, vegetable oils play a significant role in both culinary and industrial sectors, serving as indispensable components of modern lifestyles.
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The food segment is expected to lead the trial by 2032.
By application, the food segment held the highest market share in 2022, accounting for more than two-fifths of the global fatty acids, vegetable-oil, Me esters, sulfurized market revenue, and is likely to retain its dominance during the forecast period. This can be attributed to the fact that fatty acids, vegetable oils, ME esters, and sulfurized compounds play crucial roles in various food applications. Vegetable oils are commonly used as cooking oils and ingredients in food products due to their flavor, texture, and nutritional benefits. ME esters serve as emulsifiers and stabilizers in food processing, enhancing texture and shelf life. Sulfurized compounds are utilized as antioxidants and preservatives, extending the freshness of food products. In addition, fatty acids are utilized in flavoring agents, providing distinctive tastes to a wide range of food items such as baked goods, dressings, and snacks.
Asia-Pacific to maintain its dominance by 2032.
Region-wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global fatty acids, vegetable-oil, Me esters, sulfurized market revenue and is expected to matain dominance in terms of revenue during the forecast period. In the Asia-Pacific region, several drivers are fueling the demand for fatty acids, vegetable oil, ME esters, and sulfurized products. Rapid industrialization, particularly in sectors like cosmetics, food processing, and automotive, is boosting the need for these compounds as raw materials. In addition, growing awareness about the environmental benefits of biofuels is increasing the demand for vegetable oil and ME esters in biodiesel production. Moreover, government initiatives promoting renewable energy sources and sustainable practices are further stimulating market growth. These factors collectively contribute to rise in demand for such products across various industries in the Asia-Pacific region.
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Players: -
- WILMAR INTERNATIONAL LTD.
- CARGILL INCORPORATED
- BUNGE
- ADM
- OLEON NV
- MUSIM MAS
- IOI OLEOCHEMICAL
- KAO CORPORATION
- LOUIS DREYFUS COMPANY
- PACIFIC OLEOCHEMICALS, SDN. BHD.
The report provides a detailed analysis of these key players in the global Fatty acids, vegetable oil, Me esters, Sulfurized market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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