Trait Enhanced Oils Market
Trait Enhanced Oils Market - Global Industry Assessment & Forecast
- By Source Soya Seed, Canola, Copra, Palm Kernel, Sunflower Seed, Corn, Cotton Seed, Peanut, Rape Seed
- By End Use Food & Beverages Industry, Dietary Products, Animal Feeds, Lubricants, Adhesives, Plastic, Foam, Health Care, Personal Care, Skin & Hair Creams, Massage, Aromatherapy, Cosmetics, Nail Care
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2023 - 2030|
|Historical Years:||2017 - 2021|
|Revenue 2022:||USD 4.08 Billion|
|Revenue 2030:||USD 4.77 Billion|
|Revenue CAGR (2023 - 2030):||2.00%|
|Fastest Growing Region (2023 - 2030)||Asia Pacific|
|Largest Region (2022):||North America|
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The Global Trait Enhanced Oils Market was valued at USD 4.08 Billion in 2022 and is projected to reach a value of USD 4.77 Billion by 2030. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 2.00% over the forecast period.
Like many other vegetable oils, Trait Enhanced Oils are becoming incredibly popular all over the world. In both developed and developing economies, these are gradually replacing high-fat oils. Future years are expected to see a rise in the sales of oils with trait enhancement due to the variety of health interests they offer, including increased functionality. These also include amino acids, which are essential to the existence of living things. Rapeseed, sunflower seed, soy, cotton, palm kernel, copra, and Canola are the principal sources of Trait Enhanced Oils. These can altogether remove all of the fatty acids from food, enabling individuals to lead healthy lives.
Trait Enhanced Oils Market Size, 2022 To 2030 (USD Billion)
Additionally, a rise in health-conscious consumers and high demand for cutting-edge nutritional supplements made with natural components are predicted to support growth. Another essential element driving the expansion of the global market is the rising demand for high oleic oils. The need for high oleic oils is expected to rise as a result of rising health consciousness and an increase in adjustments to fat labeling around the globe. Other significant aspects anticipated to contribute to the growth of the global market for Trait Enhanced Oils during the assessment period include the fast-paced expansion of the food and beverage sector and the entry of numerous new oil processing enterprises.
On the other hand, the demand for cosmetics and personal care items containing organic ingredients is expanding quickly in developing nations; few individuals can afford such things due to their high cost. In addition, future sales of Trait Enhanced Oils may be hampered by consumers' ignorance of the nutrient-dense foods and beverages that are offered in these areas.
The Trait Enhanced Oils Market is segmented based on Source, End Use, and Region. Based on the Source, the industry is sub-segmented as Soya Seed, Canola, Copra, Palm Kernel, Sunflower Seed, Corn, Cotton Seed, Peanut, and Rape Seed. Based on the segment End Use, the market is sub-segmented as Food & Beverages Industry, Dietary Products, Animal Feeds, Lubricants, Adhesives, Plastic, Foam, Health Care, Personal Care, Skin & Hair Creams, Massage, Aromatherapy, Cosmetics, and Nail Care.
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Based on Source:
Based on the segment Source, the Canola sub-segment is expected to dominate the Global Trait Enhanced Oils Market. The baking, frying and confectionery sectors all frequently use Canola Trait Enhanced Oils. To alter the proportion of saturated fats in the confectionery items, producers commonly use Canola Trait Enhanced Oils which helps without appreciably changing the flavor or color. Therefore, the demand for this oil is predicted to increase due to its health benefits than other oils that are heavy in saturated fats like palm kernel oil. On the other hand, the Soya seed is an excellent source of Omega-3 fatty acids that can help control cholesterol levels and reduce the risk of heart disease. Due to this, the Soya seed is good for human health. Soybean Trait Enhanced Oils are widely used in the food sector for frying, baking, and confectionery applications. These oils are engineered to reduce saturated fats without altering flavor profile or color. Hence, the category is estimated to witness moderate growth during the forecast period.
Asia Pacific is Forecast to Grow at the Fastest CAGR during the Forecast Period, followed by North America
Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. One key element expected to accelerate growth is the automobile industry's rapid expansion in China and India. In addition, growth is expected to be aided by the rising demand for Trait Enhanced Oils in the automotive sector for use as lubricants in engine components to sustain vehicle performance. Additionally, expanding these oils in the personal care and cosmetics industries is projected to fuel expansion. These are regarded as one of the critical components used in the production of foot soaks, anti-aging creams, hair removal wax, sunscreens, facial moisturizers, bath salts, and other products for general skin care.
However, by obtaining the most significant market share for Trait Enhanced Oils, North America is predicted to rule during the evaluation period. The demand for nutrient-dense foods is expected to rise in the U.K. and Canada, as more people are turning their backs on processed foods and taking their health into their own hands. In addition, the demand for Trait Enhanced Oils is projected to increase as protein shakes and nutritional snacks become more popular because they help people consume fewer calories. Another vital element projected to boost the local industry is the rising consumption of ready-to-eat meals among working people and students.
The key players in the Global Trait Enhanced Oils Market include- DragonWave, Archer Daniels Midland Company, Huawei Technologies, Bayer Cropscience AG, Syngenta AG, Burrus Seed Farm, Hefei Fengle Seed Co. Ltd., Ericsson, Dow Agrosciences LLC., E. I. du Pont de Nemours & Company, Krishidhan Seeds Pvt. Ltd., Hefei Fengle Seed Co. Ltd. and others.
Segmentation of the Global Trait Enhanced Oils Market:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Question
What is the global demand for Trait Enhanced Oils in terms of revenue?
The global Trait Enhanced Oils valued at USD 4.08 Billion in 2022 and is expected to reach USD 4.77 Billion in 2030 growing at a CAGR of 2.00%.
Which are the prominent players in the market?
The prominent players in the market are DragonWave, Archer Daniels Midland Company, Huawei Technologies, Bayer Cropscience AG, Syngenta AG, Burrus Seed Farm, Hefei Fengle Seed Co. Ltd., Ericsson, Dow Agrosciences LLC., E. I. du Pont de Nemours & Company, Krishidhan Seeds Pvt. Ltd., Hefei Fengle Seed Co. Ltd..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 2.00% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
The driving factors of the Trait Enhanced Oils include
- Increasing demand for trait enhanced oils for making dietary products
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Trait Enhanced Oils in 2022.