10-May-2022 | Zion Market Research
The global brominated vegetable oil market was worth around USD 2892.7 million in 2021 and is estimated to grow to about USD 4011.316268 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.6 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
Brominated vegetable oil (BVO) is a complex mixture of triglycerides generated from plants that have been processed to include bromine atoms linked to the molecules. Brominated vegetable oil is primarily used to emulsify citrus-flavored soft drinks and keep them from separating during transport. Orange, lemon, lime, and grapefruit are fatty citrus flavors found in the drinks. When these flavors are introduced to a beverage, they do not blend evenly and float to the top of the glass. These are not appropriately disseminated. The emulsifier in the brominated vegetable oil helps the citrus flavor blend properly in the soft drink. Brominated vegetable oil-containing beverages have a hazy appearance. Increasing product application as an emulsifier that encourages the flavor to blend well in the soda, rising food and beverage industry growth across the globe, and rising beverage consumption among consumers are some of the major and vital factors that will likely augment the growth of the brominated vegetable oil (BVO) market in the forecasted timeframe of 2021-2028.
Brominated vegetable oil is used in the carbonated sodas of major soda companies such as PepsiCo and Coca-Cola. The use of brominated vegetable oil in sodas is regulated in several countries. One of BVO's constituents, bromine, is linked to health issues. Bromine can cause skin and mucous membrane irritation (the moist lining of the nose, mouth, lungs, and stomach). Long-term exposure can result in neurological symptoms such as headaches, memory loss, and a loss of balance or coordination. Previously, similar symptoms were associated with long-term usage of bromide salts as a sleep aid. Because excessive usage of BVO is dangerous, the market for brominated vegetable oil is likely to increase slowly in the future years. BVO was originally classified as "generally recognized as safe" by the Food and Drug Administration (FDA). The agency eventually reversed its judgment. The FDA now authorizes BVO to be used as a food additive under limited situations and on an interim basis while more study is conducted.
The global brominated vegetable oil market is segregated based on source and application. Based on the source, the global market is distinguished into Soy and Corn. Based on application, the global market is distinguished into Beverages, Sports Drinks, Sodas, Others, Bakery Products, Pesticides, and Flame retardants.
The largest market for brominated vegetable oil is North America, which is expected to maintain its dominance over the forecast period. This could be related to the region's high demand for various beverages, which has boosted sales of brominated vegetable oil. The Asia Pacific, the world's second-largest brominated vegetable oil market, is expected to develop rapidly due to the increasing population along with the increasing production of bakery products in the region. The demand created in this region is mostly driven by growing countries like India and China. Germany is predicted to have the highest share in Western Europe.
Key players functioning in the global brominated vegetable oil market include Penta Manufacturing Company, Parchem Fine & Specialty Chemicals, Spectrum Chemical Manufacturing Corp, and Others.
Browse the full “Brominated Vegetable Oil Market By Source (Soy and Corn), By Application (Beverages, Sports Drinks, Sodas, Others, Bakery Products, Pesticides, and Flame retardants)” Report at https://www.zionmarketresearch.com/report/brominated-vegetable-oil-market
Global brominated vegetable oil market is segmented as follows:
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