Health and nutrition trends, With the growing awareness of health and nutrition, consumers have become more conscious of their dietary choices. Fixed oils, such as Olive Oil, Coconut Oil, avocado oil, and others, are perceived as healthier alternatives to traditional saturated fats like butter or lard. These oils contain unsaturated fats, including monounsaturated and polyunsaturated fats, which are considered better for heart health. Consequently, consumers are increasingly replacing animal fats with plant-based fixed oils.
Vegan and vegetarian diets, the rising popularity of vegan and vegetarian diets has led to an increased demand for plant-based food options. Fixed oils play a crucial role in creating plant-based alternatives for dairy and animal fats. They are used in a wide range of vegan products, including plant-based milk, vegan butter, and egg replacements, contributing to the overall growth in demand.
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Data Bridge Market Research analyzes that the Asia-Pacific Fixed Oils Market is expected to grow with a CAGR of 4.7% in the forecast period of 2023 to 2030 and is expected to reach USD 49,575.24 million by 2030. The coconut oil segment is projected to propel the market growth as the demand for coconut oil is increasing for industrial purposes worldwide.
Key Findings of the Study
Rising E-Commerce Channels by Companies
Increasing presence on e-commerce may prove a significant strategy for fixed oil producers as consumers today, especially the millennials are adopting e-commerce mode for procuring products. E-commerce offers various advantages such as convenience of home delivery and customized products which is attracting the millennials customer group.
The online sales channel for fixed oils products is disrupting other sales channels and also expected to create further growth in the future. The e-commerce is also becoming a great platform to offer products with special health benefits. Consumers are expected to spend more time on educating themselves on fixed oil products bought online, because they can take their time to explore and research about their product online. Manufacturers are also focusing on this opportunity and putting efforts to grow on e-commerce platform.
Report Scope and Market 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 Year
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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, and Pricing in USD
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Segments Covered
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Product (Coconut Oil, Olive Oil, Argan Oil, Jojoba Oil, Sesame Oil, Sunflower Oil, Almond Oil, Avocado Oil, Grapeseed Oil, Hempseed Oil, and Others), Category (Blend, Absolute, and Concentrate), Nature (Conventional and Organic), Brand Category (Branded and Private Label), Packaging Size (101-200 ML, 51-100 ML, 201-300 ML, Less than 50 ML, and More than 300 ML), Packaging Type (Bottles and Sachets), Application (Food Industry, Beverages, cosmetics & Personal Care, Medical, Spa & Relaxation, and Cleaning), Distribution Channel (Store Based Retailers and Non-Store Based Retailers)
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Countries Covered
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China, Japan, India, South Korea, Australia, Singapore, Indonesia, Thailand, Malaysia, Philippines, and Rest of Asia-Pacific
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Market Players Covered
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Silverline Chemicals (India), AJWA Group (Egypt), Moksha Lifestyle Products (India), ADM (U.S.), Cargill, Incorporated. (U.S.), dōTERRA (U.S.), Falcon (India), Essential Oils of New Zealand Ltd. (New Zealand), Symrise (Germany), Adani Group (India), Edible Oils Ltd. (England), Henry Lamotte Oils GmbH (Germany), Patanjali Foods Ltd. (India), BORGES INTERNATIONAL GROUP S.L.U (Spain)
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Data Points Covered in the Report
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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
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Segment Analysis
The Asia-Pacific fixed oils market is segmented into eight notable segments based on product type, category, nature, brand category, packaging size, packaging type, application and distribution channel.
- On the basis of product, the Asia-Pacific fixed oils market is segmented into coconut oil, olive oil, argan oil, jojoba oil, sesame oil, sunflower oil, almond oil, avocado oil, grapeseed oil, hempseed oil, and others.
In 2023, the coconut oil segment is expected to dominate the Asia-Pacific fixed oils market.
In 2023, the coconut oil segment is expected to dominate the market with a 23.37% market share as coconut oil has been promoted for its potential benefits, leading to increased consumer interest.
- On the basis of category, the Asia-Pacific fixed oils market is segmented into blend, absolute, and concentrate.
In 2023, the blend segment is expected to dominate the Asia-Pacific fixed oils market.
In 2023, the blend segment is expected to dominate the market with a 52.23% market share as blend fixed oils can offer a combination of moisturizing, nourishing, and therapeutic benefits, catering to diverse consumer needs.
- On the basis of nature, the market is segmented into conventional and organic. In 2023, the conventional segment is expected to dominate the market with a 57.89% market share.
- On the basis of brand category, the market is segmented into branded and private label. In 2023, the branded segment is expected to dominate the market with a 55.09% market share.
- On the basis of packaging size, the market is segmented into 101-200 ml, 51-100 ml, 201-300 ml, less than 50 ml, and more than 300 ml. In 2023, the 101-200 ml segment is expected to dominate the market with a 32.26% market share.
- On the basis of packaging type, the market is segmented into bottles and sachets. In 2023, the bottles segment is expected to dominate the market with a 60.47% market share.
- On the basis of application, the market is segmented into food industry, beverages, cosmetics & personal care, medical, spa & relaxation, and cleaning. In 2023, the food industry segment is expected to dominate the market with a 30.85% market share.
- On the basis of distribution channel, the market is segmented into store based retailers and non-store based retailers. In 2023, the store based retailers segment is expected to dominate the market with a 67.35% market share.
Major Players
Data Bridge Market Research analyzes ADM (U.S.), Cargill, Incorporated. (U.S.), Symrise (Germany), Edible Oils Ltd. (England), Adani Group (India) as the major players in the Asia-Pacific fixed oils market.
Market Developments
- In May 2023, Cargill Incorporated announced that it form a strategic partnership with Bayer to empower Indian smallholder farmers with digital solutions. This helps the organization in developing more revenue.
- In January 2023, Symrise acquires a minority stake in Danish aroma company, EvodiaBio. EvodiaBio has developed a ground-breaking technology platform that uses precision fermentation to produce a sustainable taste for the food and beverage industry, with the potential to go beyond this market. This acquisition helps the company to expand its product portfolio in taste, nutrition, and health.
- In November 2022, Borges Agricultural & Industrial Edible Oils (BAIEO) has obtained the Zero Waste Management certificate for its industrial facilities located in Tàrrega. The certificate received, which is governed by Bureau Veritas standards, confirms that the waste generated in the plant is treated through responsible means such as recovery, recycling or subsequent recovery. This certificate would help the company in getting recognition for waste management.
- In June 2022, dōTERRA announced its partnership with Research Institute for Fragrance Materials (RIFM). The initiative of the partnership is to conduct safety assessments for complex natural substances, such as essential oils. This partnership will help in the expansion of their business.
- In April 2020, Adani Group’s subsidiary Adani Wilmar partnered with Swiggy, based in India for the delivery of food products including oil products to customers due to the national lockdown because of the COVID-19 pandemic. This partnership has helped the company to reach its customer base to offer its products and earn revenue.
Regional Analysis
Geographically, the countries covered in the fixed oils market report are, China, Japan, India, South Korea, Australia, Singapore, Indonesia, Thailand, Malaysia, Philippines, Rest of Asia-Pacific.
As per Data Bridge Market Research analysis:
China is the dominating and fastest growing country in the Asia-Pacific fixed oils market in the forecast period of 2023-2030
China is expected to dominate the Asia-Pacific fixed oils market owing to the rising demand for fixed oils in food and beverage industry. Also, China is the fastest growing country in the Asia-Pacific fixed oils market due to rapid innovation in oil packaging.
For more detailed information about the fixed oils market report, click here – https://www.databridgemarketresearch.com/ko/reports/asia-pacific-fixed-oils-market
