The global trait enhanced oils market size is expected to reach US$ 5.2 Billion in 2022 and exhibit an astonishing CAGR of 2.6% in the forecast period from 2022 to 2032. Increasing demand for trait enhanced oils for making dietary products owing to their ability to provide supplements and proteins is set to fuel growth in the upcoming years. As per the report, the trait enhanced oils market is likely to be valued at US$ 8.1 Billion in 2032.
| Report Attribute | Details |
| Trait enhanced oils Market Estimated Base Year Value (2021) | US$ 4.9 Billion |
| Trait enhanced oils Market Expected Market Value (2022) | US$ 5.2 Billion |
| Trait enhanced oils Market Anticipated Forecast Value (2032) | US$ 8.1 Billion |
| Trait enhanced oils Market Projected Growth Rate (2022-2032) | 2.6% CAGR |
Trait enhanced oils are gaining immense popularity across the globe just like several other vegetable oils. These are gradually replacing the high-fat oils in both developed and developing economies.
Various health benefits offered by these oils, such as improved functionality, is projected to spur the sales of trait enhanced oils in future years. These also contain amino acids that are required for a living organism.
Trait enhanced oils are mainly derived from rapeseed, sunflower seed, soy, cotton, palm kernel, copra, and canola. These are capable of efficiently removing all the fatty acids from food items, thereby enabling people to live a healthy life.
Moreover, increasing number of health conscious people and high demand for innovative dietary supplements with natural ingredients are expected to aid growth. Surging need for high oleic oils is another significant factor that is contributing to the growth of the global market.
Rising level of health awareness and increasing number of changes in fat labeling in various parts of the world are set to push the demand for high oleic oils. The rapid expansion of the food and beverage industry and the entry of various new oil processing companies are some of the other major factors that are expected to drive the global trait enhanced oils market growth in the evaluation period.
Besides, the widespread usage of high oleic oils in the healthcare sector is likely to augment growth. The ongoing expansion of the bio-based chemical industry and the high demand for oleochemicals are some of the other factors that would contribute to the global market growth in future.
Even though the demand for cosmetics and personal care products infused with organic ingredients is growing at a fast pace, in underdeveloped countries, not many people can afford such products due to their expensive nature. Apart from that, the lack of knowledge about the availability of nutritional food and beverages in these regions may hamper the sales of trait enhanced oils in future.
Based on region, North America is projected to dominate in the assessment period by procuring the largest trait enhanced oils market share. Increasing demand for nutritional food and growing awareness about the significance of a healthy lifestyle in the U.K. and Canada are expected to augur well for the regional market.
High demand for protein shakes and nutritional snacks is likely to bolster the need for trait enhanced oils as these help in lowering one’s calorie intake. Rising consumption of ready-to-eat meals among students and the working population is another crucial factor that is anticipated to foster the regional market.
Asia Pacific is expected to remain in the second position, followed by North America in the forthcoming years. Rapid expansion of the automotive industry across India and China is one of the major factors that is set to augment growth. Increasing demand for trait enhanced oils in the automotive industry for usage as lubricants in engine components to maintain the performance of vehicles is set to aid growth.
In addition to that, growing usage of these oils in the cosmetics and personal care industry is likely to propel growth. These are considered to be one of the primary ingredients for making foot moisturizers, soaks, anti-aging creams, hair removal wax, sunscreens, facial moisturizers, bath salts, and general skin care products.
Some of the leading companies present in the global trait enhanced oils market include DragonWave, Archer Daniels Midland Company, Huawei Technologies, Bayer Cropscience AG, Syngenta AG, Burrus Seed Farm, Hefei Fengle Seed Co. Ltd., Ericsson, Dow Agrosciences LLC., E. I. du Pont de Nemours and Company, Krishidhan Seeds Pvt. Ltd., and Hefei Fengle Seed Co. Ltd. among others.
The global market is highly consolidated in nature with the presence of a few international companies. They are mainly focusing on introducing cutting-edge products to cater to the ever-increasing demand from consumers worldwide. A few other key players are engaging in joint ventures, agreements, mergers and acquisitions, and collaborations to strengthen their positions in the global market.
| Report Attribute | Details |
| Growth Rate | CAGR of 2.6% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
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| Customization | Available Upon Request |
The global trait enhanced oils market is set to surpass US$ 8.1 Billion in 2032.
North America is set to lead the trait enhanced oils market in the forecast period.
DragonWave, Archer Daniels Midland Company, Huawei Technologies, Bayer Cropscience AG, Syngenta AG, and Burrus Seed Farm are some of the renowned companies in the trait enhanced oils market.
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