The Global Trait Enhanced Oils Market is expected to reach USD 5.3 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 2.3% from 2022 to 2028.
Increasing demand for Trait Enhanced Oils for making dietary products owing to their ability to provide supplements and proteins is set to fuel the growth of the market during the forecast period.
Key Highlights from Report:
- In the Source segment, the Palm Kernel Oil sub-segment held a significant share in 2021. This is attributable to the easily available and is relatively more stable than other oils.
- The liquid form of the fats and oils segment is projected to grow at a considerable Compound Annual Growth Rate (CAGR) during the forecast period. This Surge is attributable to the increasing demand for a degree of unsaturation. The length of the parent carbon chain, the isomeric forms of the fatty acids, molecular configuration, and processing variables all influence the physical characteristics of fats and oils, but liquid oils are thought to be more unsaturated and thus more preferred by consumers.
- Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. It is the fastest-growing region over the predicted period due to robust processed foods and industrial applications for fats and oils. Due to shifting consumption patterns and substantial imports of vegetable oils and fats, China and India dominate the Asia Pacific fats and oils industry.
Consumer demand for healthier foods, combined with increased health awareness, has resulted in the creation of new goods such as plant-based oils that are free of trans fats and cholesterol. Manufacturers are responding to this growing trend by developing novel product varieties such as nut butter and oil spreads that may be utilized in a variety of food applications in different parts of the world.
Like many other vegetable oils, trait-improved oils are gaining a lot of traction around the world. In both rich and developing economies, these are gradually replacing high-fat oils. In the coming years, various health benefits provided by these oils, such as increased functionality, are expected to drive sales of Trait Enhanced Oils. These also contain amino acids, which are essential for the survival of a living thing. Rapeseed, sunflower seed, soy, cotton, palm kernel, copra, and canola are the most common sources of trait-improved oils. These can effectively eliminate all fatty acids from food, allowing people to live a healthy lifestyle. Furthermore, growth is likely to be aided by increased health-conscious consumers and high demand for innovative dietary supplements containing natural ingredients. Another important aspect driving the global market's expansion is the rising demand for high oleic oils.
North America held the largest shares in 2021. One of the primary elements expected to boost growth is the rapid expansion of the automobile industry in India and China. In addition, the automotive industry's growing demand for Trait Enhanced Oils to be used as lubricants in engine components to preserve vehicle performance is expected to help drive the growth of the Trait Enhanced Oils Market.