According to research by Future Market Insights, The Brominated Vegetable Oil market is anticipated to expand at a CAGR of 3.90%during the forecasted period. According to Forecasts, the market would be worth US$ 1,046.0 Million by 2033, up from US$ 713.5 Million in 2023.
| Attributes | Details |
|---|---|
| Market size value in 2023 | US$ 713.5 Million |
| Market forecast value in 2033 | US$ 1,046.0 Million |
| Forecast period | 2023 to 2033 |
| Global growth rate (CAGR) | 3.90% |
| Share of Germany in The Brominated Vegetable Oil Market | 22.10% |
Bromine is an element that occurs naturally and is commonly found in sea water and bromide salt. Brominated vegetable oil is a mixture of plant-derived triglycerides that have been reacted to include atoms of the component bromine attached to the molecule. Brominated vegetable oil is primarily used to prevent citrus-flavoured soft drinks from splitting during distribution. The ingredient is mostly found in soft drinks.
The Coca-Cola Company and PepsiCo both use brominated vegetable oil in their aerated drinks. Most countries around the world use brominated vegetable oil. However, these are prohibited in a number of countries, including Europe, India, and Japan. Coca-Cola and PepsiCo agreed to remove brominated vegetable oil from all of their beverages in response to public pressure.
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According to Future Market Insights, the Brominated Vegetable Oil market was growing at a CAGR of 5.20% to reach USD 678.2 million in 2022 from USD 553.7 million in 2018.
The FDA in the United States has set a limit of 15 pm for the use of brominated vegetable oil in finished beverages. However, the majority of countries in Europe, Asia, South America, and Australia have prohibited its use in beverages. The element is used in the majority of beverages in the United States. The oil is found in nearly 10% of the soda products available in the country, primarily in citrus-flavored beverages. The global brominated vegetable oil market is expected to grow in the single digits.
The Brominated Vegetable Oil market is an ever-expanding industry that has seen a steady growth in the past few years. North America has played a major role in this growth, with the region holding the largest share of the market. The region holds 33% of global Brominated Vegetable Oil market share, and is expected to further grow due to its large demand for processed food and beverages.
This dominance of North American markets can be attributed to various factors such as higher consumption of packaged food and beverage products, rising disposable income levels, increased purchasing power parity, and more health awareness among consumers. Additionally, many companies are investing in research and development activities related to bromine derivatives as they offer multiple advantages over traditional vegetable oils. This has resulted in a larger number of innovations within this sector which have been beneficial for both manufacturers and end-users alike.
Europe is an attractive market for the Brominated Vegetable Oil (BVO), as it provides a vast customer base with large potential. BVO has been approved for use in various countries across Europe, including the UK, France, Germany and Italy. This makes it easier for manufacturers to access the European market with their products containing this oil.
One of the main reasons why Europe is such an intriguing option for BVO producers is due to its open economy and free trade policies. This allows manufacturers to easily import and export their products within the European Union without having to face any tariff or non-tariff barriers. Additionally, strong regulations regarding food safety provide ample assurance that consumers can trust that what they are buying is safe and of high quality.
Europe has stringent environmental standards which helps protect customers from potentially harmful byproducts of production processes involving BVO oils.
Asia Pacific is emerging as an opportunistic market for Brominated Vegetable Oil, making it a key area of growth in the global industry. Touted as a safe and cost-effective solution for food manufacturers, BVO has been used as an emulsifier and stabilizer in a number of products ranging from juices to sports drinks. As consumer demand rises for healthier options, the Asia Pacific region is becoming renowned for its unique approach to incorporating BVO into their food supply chain while also meeting regulatory standards.
The Asia Pacific region holds immense potential when it comes to brominated vegetable oil production due to its large population base and varied dietary habits. The increasing health consciousness across the region is driving greater demand for natural ingredients such as BVO which can be used without any adverse health effects.
Principal Consultant
The beverages industry has played a key role in the growth of the brominated vegetable oil (BVO) market over recent years. BVO is used as an emulsifier and stabilizer in various beverages, such as sodas, fruit drinks, and energy drinks. As demand for these types of beverages continues to rise, so too does the demand for BVO.
The use of BVO helps to create a smoother consistency in certain liquids and also prevents separation which can occur when different ingredients are mixed together. This enables beverage manufacturers to produce more efficient products that have a longer shelf life. Additionally, it increases product stability which leads to improved customer satisfaction rates as well as cost savings for manufacturers due to reduced waste from spoilage or contamination.
Brominated Vegetable Oil (BVO) is a food additive that is used as an emulsifier in certain processed foods and beverages. It has been a contentious ingredient due to its potential health risks, leading to many countries banning or severely regulating its use. As the debate surrounding BVO continues, the question of which category will experience the most growth in use remains.
An analysis of current trends and consumer preferences suggest that there are two categories that could potentially experience maximum BVO growth: drinks and snacks. Drinks such as flavored sodas and energy drinks often contain BVO to help keep flavorings from separating from the liquid base. Similarly, snack products such as chips and crackers also rely on BVO for texture consistency between batches.
The Brominated Vegetable Oil market is a highly competitive landscape, with many companies vying for a share of the market. BVO is used in several food and beverage products as an emulsifier, preservative, and stabilizer. Companies such as Cargill and Archer Daniels Midland are leading suppliers of BVO to producers. They offer a wide range of product options with different concentrations and qualities that suit different production needs.
Synutra International, Inc., Kraft Foods Group, Inc.,
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| Attribute | Details |
|---|---|
| Forecast period | 2023 to 2033 |
| Historical data available for | 2018 to 2022 |
| Market analysis | USD million in value |
| Key regions covered |
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| Key countries covered |
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| Key segments covered |
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| Key companies profiled |
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| Customization and Pricing | Available upon request |
The Brominated Vegetable Oil market size is assessed to US$ 713.5 Million in 2023.
The Brominated Vegetable Oil market is expected to rise at a CAGR of 3.90%.
USA, China, Canada, Germany, China, India, United Kingdom, Australia are the major countries driving demand for Brominated Vegetable Oil market.
China Brominated Vegetable Oil market is projected to grow at a CAGR of around 3.3% over the next ten years.
Market share of Germany in Brominated Vegetable Oil market is about 22.10% of the global market.
Nutragreen Biotechnology Co., Xi'An Sanwei Biotechnology Co., Mountain Rose Herbs, Z Natural Foods, LLC. are expected to be the top players driving the market growth.
The global Brominated Vegetable Oil market is forecasted to surpass US$ 1,046.0 Million by the end of 2033.
Food and Beverage
March 2024
REP-AP-893
324 pages
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Brominated Vegetable Oil Market
