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Global Brominated Vegetable Oil (BVO) Market – Industry Trends and Forecast to 2031

Food & Beverage

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Global Brominated Vegetable Oil (BVO) Market – Industry Trends and Forecast to 2031

  • Food & Beverage
  • Upcoming Report
  • May 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Brominated Vegetable Oil (BVO) Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 3.25 Billion
Diagram Market Size (Forecast Year) USD 5.22 Billion
Diagram CAGR %

Global Brominated Vegetable Oil (BVO) Market, By Source (Soy and Corn), Application (Beverages, Bakery Products, Pesticides, and Flame Retardant) – Industry Trends and Forecast to 2031.

Brominated Vegetable Oil (BVO) Market

Brominated Vegetable Oil (BVO) Market Analysis and Size

Brominated Vegetable Oil (BVO) is primarily utilized as an emulsifier and stabilizer in citrus-flavored soft drinks and sports beverages. However, its safety has been questioned due to potential health risks associated with bromine exposure. Consequently, several countries, including many in Europe, Asia, South America, and Australia, have banned its use in beverages entirely. In the United States, the FDA has imposed a limit of 15 parts per million (ppm) for BVO in finished beverages. Despite these regulations, BVO remains a common ingredient in approximately 10% of soda products in the U.S., particularly those featuring citrus flavors.

The global brominated vegetable oil BVO market size was valued at USD 3.25 billion in 2023 and is projected to reach USD 5.22 billion by 2031, with a CAGR of 6.10% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation       

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016 - 2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Source (Soy and Corn), Application (Beverages, Bakery Products, Pesticides, and Flame Retardant)

Countries Covered

U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America

Market Players Covered

Synutra International (China), Kraft Foods Group, Inc. (U.S.), Kerry Ingredients & Flavours (Ireland), Abitec Corporation (U.S.), Watson Inc. (U.S.), Advanced Food Systems Inc. (U.S.), Aarhuskarlshamn AB (Sweden), Firmenich SA (Switzerland), BASF Company (Germany), Eurobio Lab (France), The Good Scents Company (U.S.), DeWolf Chemical (U.S.), COSME ITALY (Italy), Penta Manufacturing Company (U.S.), Parchem Fine & Specialty Chemicals (U.S.), and Spectrum (U.S.)

Market Opportunities

  • Innovation in Product Formulations     
  • Development of Safer Alternatives to BVO

Market Definition

Brominated Vegetable Oil (BVO) is a food additive that is used as an emulsifier in citrus-flavored soft drinks and sports drinks. It is derived from vegetable oil and contains bromine, which is added to the oil to make it more soluble in water. BVO aids in evenly distributing flavoring agents throughout the beverage, preventing them from separating. In addition to its emulsifying properties, BVO also acts as a stabilizer, helping to maintain the flavor and color of the beverage over time.

Brominated Vegetable Oil BVO Market Dynamics

Drivers

  • Growing Demand for Processed and Convenience Foods  

Emulsifiers play a crucial role in improving the texture, stability, and shelf-life of processed foods, making them more appealing to consumers. Due to the increasing prevalence of busy lifestyles and the growing need for fast and convenient meal options, there is a rising demand for processed and convenience foods. Emulsifiers play a crucial role in improving the texture, stability, and shelf-life of processed foods, making them more appealing to consumers. With the rise in busy lifestyles and the need for quick and easy meal solutions, the demand for processed and convenience foods is on the rise. The global rise in demand for processed and convenience foods, particularly in urban areas, is a significant driver for the demand for food additives such as emulsifiers, including BVO.       

  • Rising Demand for Soft Drinks and Sports Drinks

Soft drinks and sports drinks often contain emulsifiers such as BVO, which help enhance flavor delivery and stability, providing a better overall drinking experience for consumers. As the market for these beverages expands, so does the demand for emulsifiers such as BVO. The convenience and refreshing qualities of these beverages are especially attractive to consumers in emerging markets, contributing to the growth of the BVO market in these regions.

Opportunities

  • Innovation in Product Formulations   

Manufacturers that can offer innovative solutions to meet evolving consumer needs, such as enhanced stability, texture, and shelf-life in food products, are likely to succeed in the competitive market. By investing in research and development (R&D) to create novel BVO blends or formulations, companies can differentiate their products and gain a competitive edge. Continuous innovation in product formulations, including the development of new blends or formulations of brominated vegetable oil (BVO) with improved functionality and safety profiles, presents significant opportunities for market growth.     

  • Development of Safer Alternatives to BVO 

The increasing demand for safer and more sustainable food additives is driving the development of alternative emulsifiers to replace BVO. Companies that invest in R&D to create safer alternatives to BVO are likely to gain a competitive advantage in the market. These alternatives may offer similar functionality to BVO but with improved safety profiles, addressing consumer concerns about the potential health risks associated with bromine exposure. Companies can meet regulatory requirements, enhance consumer trust, and capitalize on the growing demand for clean-label and natural food additives by developing safer alternatives and create new market opportunity.  

Restraints/Challenges

  • Consumer Preferences for Natural Ingredients 

The shift towards natural and clean-label products has notably impacted consumer preferences, driving them towards natural ingredients. This is fueled by concerns regarding health, sustainability, and transparency in food labeling. As a result, the demand for BVO may decline as consumers increasingly seek products with natural and clean-label ingredients. Food and beverage manufacturers may need to reformulate their products to meet these changing consumer preferences, potentially impacting the growth of the BVO market.            

  • Availability of Alternative Emulsifiers 

The availability of alternative emulsifiers that offer similar functionalities to BVO, such as sucrose esters and polysorbates, provides food and beverage manufacturers with viable options to replace BVO in their products. These alternative emulsifiers, derived from natural or more widely accepted synthetic sources, addressing consumer concerns about the safety and health risks associated with BVO, limit the growth of the BVO market.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Brominated Vegetable Oil BVO Market Scope

The market is segmented on the basis of source and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

  • Soy
  • Corn

 Application

  • Beverages
  • Bakery Products
  • Pesticides
  • Flame Retardant

Brominated Vegetable Oil BVO Market Regional Analysis/Insights

The market is analyzed and market size insights and trends are provided by country, source, and application as referenced above.

The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.

Noth America is expected to dominate the market and show significant growth due to several factors, including increased consumption of packaged food and beverage products, rising disposable income levels, higher purchasing power parity, and increased consumer health awareness. In addition, numerous companies are investing in research and development of bromine derivatives due to their multiple advantages over traditional vegetable oils. This has led to a greater number of innovations in this sector, benefiting both manufacturers and end-users.

The country section of the report also provides individual market-impacting factors and changes in market regulation that affect the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, Porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Brominated Vegetable Oil BVO Market Share Analysis

The market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, regional presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the market.

Some of the major market players operating in the market are:

  • Synutra International (China)
  • Kraft Foods Group, Inc. (U.S.)
  • Kerry Ingredients & Flavours (Ireland)
  • Abitec Corporation (U.S.)
  • Watson Inc. (U.S.)
  • Advanced Food Systems Inc. (U.S.)
  • Aarhuskarlshamn AB (Sweden)
  • Firmenich SA (Switzerland)
  • BASF Company (Germany)
  • Eurobio Lab (France)
  • The Good Scents Company (U.S.)
  • DeWolf Chemical (U.S.)
  • COSME ITALY (Italy)
  • Penta Manufacturing Company (U.S.)
  • Parchem Fine & Specialty Chemicals (U.S.)
  • Spectrum (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The source and application are the factors on which the Brominated Vegetable Oil (BVO) Market research is based.
The major companies in the Brominated Vegetable Oil (BVO) Market are Synutra International (China), Kraft Foods Group, Inc. (U.S.), Kerry Ingredients & Flavours (Ireland), Abitec Corporation (U.S.), Watson Inc. (U.S.), Advanced Food Systems Inc. (U.S.), Aarhuskarlshamn AB (Sweden), Firmenich SA (Switzerland), BASF Company (Germany), Eurobio Lab (France), The Good Scents Company (U.S.), DeWolf Chemical (U.S.), COSME ITALY (Italy), Penta Manufacturing Company (U.S.), Parchem Fine & Specialty Chemicals (U.S.), and Spectrum (U.S.).
Rising Demand for Soft Drinks and Sports Drinks, Growing Demand for Processed and Convenience Foods are the growth drivers of the Brominated Vegetable Oil (BVO) Market.
The Brominated Vegetable Oil (BVO) Market size will be worth USD 5.22 billion by 2031.
The Brominated Vegetable Oil (BVO) Market growth rate will be 6.10% by 2031.
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