COVID-19 Impact Analysis on Global Nutritional Oil Powder Market
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global nutritional oil powder market. In addition, complete analysis of changes on the global nutritional oil powder market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The COVID-19 pandemic has certainly affected the market products sales as for preventing the spread of virus, safety of people the lockdown has stopped the inflow of consumer in hypermarket/supermarket, retails shops among others. However, the sales of products through online mode has more or less supported the global nutritional oil powder market growth. Also, market has certainly gained positive attention among consumers as products supports for good nutrition during COVID-19
Market Overview- Global Nutritional Oil Powder Market
The global nutritional oil powder market is driven by surging uses of nutritional oil powders in nutraceuticals, animal feed, food processing industries, the change in lifestyle of people and surge in number of vegan and vegetarianism. With the growing awareness for various nutritional oil powders in different application with pure and health benefiting properties has led the growing demand for the market. The growing demand for high value nutritional oils, growing area of interest in the supplement space and dosage forms are likely to propel the market growth over the estimated time period. Besides, the most of population across the globe is currently shifting towards the adoption of vegan diet which indeed has accelerated the market to major extend.
The market finds its majority opportunities with expanding product portfolio, demand for products across various oil powder products in different food processing, nutraceutical, animal nutrition, cosmetic and personal care, infant formula has contributed healthy growth in the market. Besides, new products innovation, launches in market, usage of different technology for the production of products is expected to drive the market to major extend over the projection period.
The market is expected to have major restraining factor like price volatility and high manufacturing cost of nutritional oil powder products and lack of awareness related to nutritional oil powder benefits. The price volatility in the market is certainly associated with the price volatility in like soybean, canola, coconut, palm, flaxseed among others. Different weather conditions, production, supply, is expected to specifically affect the price volatility which ultimately affects the manufacturing cost of nutritional oil powder.
Market Growth Challenges
The major growth challenge for the market is price volatility and high manufacturing cost. Likewise, quality standard for nutritional oil powder is expected to be major growth challenge for the market.
Cumulative Growth Analysis
The report provides in-depth analysis of global nutritional oil powder market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various nutritional oil powder in various applications has led the increasing demand for market and is expected to witness the growth at a CAGR of 5.79% from 2021-2028.
Market Segmental Overview
The global nutritional oil powder market comprises of different market segment like type, nature, applications and geography.
Nutritional Oil Powder Market by Type
By type, the nutritional oil powder includes key segment of canola oil powder, soybean oil powder, sunflower oil powder, coconut oil powder, palm oil powder, flaxseed oil powder, fish oil powder. The soybean oil powder is expected to dominate the market in 2021 and maintain its dominance over the estimated time period. The rising usage of soybean oil powder in different nutritious drinks like sport nutrition, nutritional among other has led the propelling demand for the market. Besides, the soybean oil powdered significantly promote skin health and protect against inflammation. Similarly, the fish oil powder segment is anticipated to have driving growth during the forecast period.
Nutritional Oil Powder Market by Nature
The nutritional oil powder market is significantly studied for key nature like organic, conventional. The conventional nature is expected to dominate in the market attributing to growing consumer awareness regarding use of beneficial and nutritious products. The increasing of conventional nature like food processing, nutraceutical, animal nutrition, cosmetic and personal care, infant formula among other has further accelerated the demand for segment. However, organic nature is expected to have growth at fastest pace over the estimated time period. With rising consumer focus on adoption of organic nature products in nutritional oil powder market is contributing healthy growth in the market.
Nutritional Oil Powder Market by Application
The nutritional oil powder market finds its major application in food processing, nutraceutical, animal nutrition, cosmetic and personal care, infant formula. The food processing segment is likely to have majority of market in the nutritional oil powder market. The key factor driving the market growth are shifting trends of consumer towards veganism and vegetarianism has certainly fuelled the growth of nutritional oil powder market. On the other ongoing innovation in food processing technology and rising usage of nutritional oil powder is expected to fuel the market. Likewise, nutraceutical is expected to hold second position in the market over the estimated time period. The growing demand for function foods from consumer due to valued added in nutritional oil powder products providing health and wellness benefits has boosted the segment growth in the market.
Nutritional Oil Powder Market by Geography
The global nutritional oil powder market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). Asia Pacific is anticipated to lead in the nutritional oil powder market during the forecast period (2022-2028). The region is likely to have growth in nutritional oil powder market with growing health consciousness, rising incidence of diabetes, lifestyle related diseases, and shifting consumer preference for healthy life has contributed in the growth of market. Besides, rise in disposable income coupled with health consciousness is expected to drive the market over the estimated time period. Also, presence of countries like China, India and Japan in Asia Pacific is expected to contribute healthy growth in the market. Likewise, North America and Europe is expected to witness increasing new growth heights during the forecast period.
Competitive Landscape Analysis
The competitive landscape analysis of nutritional oil powder market is majorly focused on expanding the global growth of nutritional oil powder with new product innovation, product availability, increasing presence of range of manufacturer operating in nutritional oil powder has led the growing demand for the market. Besides, the market offers range of products in different application to fulfill the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are Connoils LLC. (US), Abitec (US), Crestchem Ltd (India), Bioregional. (Canada), Stepan Co. (US), Green Labs LLC (US), SMS Co. (Japan), Custom Food Group BHD (Malaysia), CoreFX Ingredients (US).
February 2022: Capsoil Foodtech’s had announced innovatived platform that covert bioactive oils into water soluble powders. The company advanced the capacity for mixing oil and water by developing ultra-fine, water-soluble powders out of natural oils. This breakthrough present a new possibilities for integrating beneficial nutritional oils, fat-soluble vitamins and lipid based nutrients into a broadened range of functional foods and beverages as well as in new supplement formats.
October 2018: WStepan Co. launched lipid nutrition product called NEOBEE ProKeto. The product is microencapsulated C8 MCT oil sprayed onto pea protein support to create free flowing powder for food and nutritional supplement application.