Global Brominated Vegetable Oil (BVO) Market, By Source (Soy, Corn), Application (Beverages, Bakery Products, Pesticides, Flame Retardant) – Industry Trends and Forecast to 2030.
Brominated Vegetable Oil (BVO) Market Analysis and Size
Several types of natural and synthetic food additives are available in the market. They are mainly used to preserve medicines, packaged and fresh foods, and other consumer products. Brominated vegetable oil (BVO) is also used as an additive in several products such as beverages, bakery products and others. The Food and Drug Administration (FDA) formerly considered brominated vegetable oil (BVO) as "generally recognized as safe". This decision was reversed after sometime by the agency. Nowadays, under certain situations and on a temporary basis pending more research, the FDA allows brominated vegetable oil to be used as a food additive.
Data Bridge Market Research analyses that the brominated vegetable oil (BVO) market was valued at USD 3069.15 million in 2022 and is expected to reach USD 4928.80 million by 2030, registering a CAGR of 6.10% during the forecast period of 2023 to 2030. 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.
Brominated Vegetable Oil (BVO) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Source (Soy, Corn), Application (Beverages, Bakery Products, Pesticides, Flame Retardant)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
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Market Players Covered
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Penta Manufacturing Company (U.S.), Parchem Fine & Specialty Chemicals (U.S.), and Spectrum (U.S.)
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Market Opportunities
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Market Definition
Brominated vegetable oil (BVO) is a mixture of plant based triglycerides which have been reacted to the bromine atom bonded to the molecules. Brominated vegetable oil is mainly used to aid in emulsifying citrus flavored soft drinks and stopping them from separating during distribution. Brominated vegetable oil has been highly used by the soft drink company normally at a level of around 8 ppm.
Brominated Vegetable Oil (BVO) Market Dynamics
Drivers
- Surging usage of brominated vegetable oil (BVO) in beverages products
Brominated vegetable oil is highly used in the production of beverages. Brominated vegetable oil are formed by the process of bromination which help to emulsify the flavoring agent with citrus fruit drink and sodas. The flavorings agents such as lime, orange, lemon, grapefruit and others which are used in beverages or drinks are oily in nature. The flavoring agents normally used in beverage which cannot be easily blended together and form a separate layer in soda and other soft drink. Thus, brominated vegetable oil maintain the dispersion of flavoring agent and soda or soft drink. Major soft drink producers such as Coca-Cola and PepsiCo use brominated vegetable oil in their beverages or carbonated soft drinks.
- Increasing usage of brominated vegetable oil (BVO) in bakery products
Brominated vegetable oil is also used in bakery products such as pasta and some other brands of pasta. The rising consumption of pasta among consumers, eventually increase the demand of brominated vegetable oil which will anticipated to drive the growth rate of the market.
Opportunities
- Increasing consumption of beverages
The beverage segment is anticipated to remain the most lucrative opportunity in the global brominated vegetable oil market and this trend is likely to continue over the upcoming years. Increase in utilization of brominated vegetable oil in beverages along with the increasing consumption of beverages all over the globe is expected to boost the growth of the brominated vegetable oil market in the years to come.
Restraints/ Challenges
- Side effect associated with brominated vegetable oil (BVO)
The consumption of brominated soft drink and soda is not safe for the human health. The frequent usage of brominated vegetable oil (BVO) soft drink can lead to fatigue, loss of memory, tremors, ptosis of right eyelid, headache and loss of muscles coordination. These are some of the major factors which are anticipated to hinder the growth of the market.
This brominated vegetable oil (BVO) 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 brominated vegetable oil (BVO) 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.
Global Brominated Vegetable Oil (BVO) Market Scope
The brominated vegetable oil (BVO) 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 brominated vegetable oil (BVO) market is analyzed and market size insights and trends are provided by country, source and application as referenced above.
The countries covered in the brominated vegetable oil (BVO) market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the brominated vegetable oil (BVO) market in terms of revenue and market share. This is mainly due to the growing application of brominated vegetable oil (BVO) in beverages and the increasing consumption of beverages in this region.
North America is expected to be the fastest developing region during the forecast period of 2023-2030 owing to the rising production of bakery products and the growing population in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, 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 brominated vegetable oil (BVO) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to brominated vegetable oil (BVO) market.
Some of the major players operating in the brominated vegetable oil (BVO) market are:
- Penta Manufacturing Company (U.S.)
- Parchem Fine & Specialty Chemicals (U.S.)
- Spectrum (U.S.)
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