Brominated Vegetable Oil Market - Global Industry Analysis

Brominated Vegetable Oil Market By Source (Soy and Corn), By Application (Beverages, Sports Drinks, Sodas, Others, Bakery Products, Pesticides, and Flame retardants) and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022-2028

Published Date: 10-May-2022 Category: Food & Beverage Report Format : PDF Pages: 110 Report Code: ZMR-2246 Status : Published

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Description

Industry Prospective:

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 Market: Overview

Brominated vegetable oil (BVO) is a complex mixture of triglycerides derived from plants that have bromine atoms attached to the molecules. Brominated vegetable oil is primarily used to emulsify citrus-flavored soft beverages and prevent separation during transportation. The drinks contain fatty citrus flavors such as orange, lemon, lime, and grapefruit. These flavors do not blend evenly and float to the top of the glass when added to a beverage. These aren't being disseminated properly. The emulsifier in brominated vegetable oil aids in the appropriate blending of the citrus taste in the soft drink.

In certain countries, the use of brominated vegetable oil in sodas is prohibited. Bromine, one of BVO's constituents, has been related to health problems. Bromine can irritate the skin and mucous membranes (the moist lining of the nose, mouth, lungs, and stomach). Long-term exposure can cause headaches, memory loss, and a loss of balance or coordination, among other neurological problems.

COVID-19 Impact:

Over the previous 18 months, almost every industry in the world has suffered a setback. This can be ascribed to severe disruptions in their respective manufacturing and supply-chain operations as a result of various precautionary lockdowns and other limitations imposed by governments all over the world. The same can be said for the global market for brominated vegetable oils. Furthermore, consumer demand has decreased as people are now more focused on removing non-essential expenses from their budgets since the general economic situation of most people has been badly impacted by the outbreak. Over the forecast period, the aforementioned factors are likely to weigh on the worldwide Brominated Vegetable Oil market's revenue trajectory. The global Brominated Vegetable Oil market is predicted to rebound as regional governing bodies begin to abolish these enforced lockdowns.

Global Brominated Vegetable Oil Market

Brominated Vegetable Oil Market: Growth Drivers

Extensive use in the beverage industry

The element is present in the majority of beverages. The oil may be present in about 10% of all soda products sold in the country, with citrus-flavored beverages being the most common. The global brominated vegetable oil market is expected to expand at a single-digit rate in the coming years.

Brominated Vegetable Oil Market: Restraints

Excessive consumption of brominated vegetable oil is not safe to be used as a food additive

Memory loss, tremors, weariness, lack of muscle coordination, ptosis of the right eyelid, and headaches have all been linked to excessive use of brominated vegetable oil. Chemical companies use the trademarked molecule as a flame retardant, which has resulted in its use in food being banned in Europe and Japan.

Report Scope:

Report Attribute	Details
Base Year	2020
Historic Years	2016 - 2020
Forecast Years	2021 - 2028
Segments Covered	By Product Type, By Application, and By End Use
Forecast Units	Value (USD Billion), and Volume (Units)
Quantitative Units	Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered	U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered	10 companies with scope for including additional 15 companies upon request
Report Coverage	Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope	Avail customized purchase options to meet your exact research needs.

Brominated Vegetable Oil Market: Segmentation

The global brominated vegetable oil market is segregated based on source and application.

By source, the market is classified into Soy and Corn. Brominated vegetable oil (BVO) is vegetable oil, derived from corn or soy, and bonded with the element bromine.

By Application, the market is classified into Beverages, Sports Drinks, Sodas, Others, Bakery Products, Pesticides, and Flame retardants. Sports drinks, sodas, and other beverages have been divided into subcategories. Due to rising product consumption among consumers, the beverage category will account for the highest share of market growth.

Regional Landscape

North America is the largest market for brominated vegetable oil, and it is likely to remain so throughout the projection period. This could be due to the strong demand for various beverages in the region, which has boosted sales of brominated vegetable oil. The Asia Pacific area, which is home to the world's second-largest brominated vegetable oil market, is predicted to grow fast due to rising population and bakery product output. Growing economies such as India and China are primarily responsible for the demand created in this region. In Western Europe, Germany is expected to have the biggest proportion.

Competitive Landscape

Some of the main competitors dominating the global brominated vegetable oil market include - Penta Manufacturing Company, Parchem Fine & Specialty Chemicals, Spectrum Chemical Manufacturing Corp, and Others.

Global brominated vegetable oil market is segmented as follows:

By Source

Soy
Corn

By Application

Beverages
Sports Drinks
Sodas
Others
Bakery Products
Pesticides
Flame retardant

By Region

North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa

Table Of Content

Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
  - 1.3.1 Market Research Type
  - 1.3.2 Market research methodology
Chapter 2. Executive Summary
- 2.1 Global Brominated Vegetable Oil Market, (2022 - 2028) (USD Million)
- 2.2 Global Brominated Vegetable Oil Market : snapshot
Chapter 3. Global Brominated Vegetable Oil Market - Industry Analysis
- 3.1 Brominated Vegetable Oil Market: Market Dynamics
- 3.2 Market Drivers
  - 3.2.1 Brominated Vegetable Oil Market: Growth Drivers
- 3.3 Market Restraints
  - 3.3.1. Excessive consumption of brominated vegetable oil is not safe to be used as a food additive
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
  - 3.7.1 Market attractiveness analysis By Source
  - 3.7.2 Market attractiveness analysis By Application
Chapter 4. Global Brominated Vegetable Oil Market- Competitive Landscape
- 4.1 Company market share analysis
  - 4.1.1 Global Brominated Vegetable Oil Market: company market share, 2021
- 4.2 Strategic development
  - 4.2.1 Acquisitions & mergers
  - 4.2.2 New Product launches
  - 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
  - 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
Chapter 5. Global Brominated Vegetable Oil Market - Source Analysis
- 5.1 Global Brominated Vegetable Oil Market overview: By Source
  - 5.1.1 Global Brominated Vegetable Oil Market share, By Source, 2021 and 2028
- 5.2 Soy
  - 5.2.1 Global Brominated Vegetable Oil Market by Soy, 2022 - 2028 (USD Million)
- 5.3 Corn
  - 5.3.1 Global Brominated Vegetable Oil Market by Corn, 2022 - 2028 (USD Million)
Chapter 6. Global Brominated Vegetable Oil Market - Application Analysis
- 6.1 Global Brominated Vegetable Oil Market overview: By Application
  - 6.1.1 Global Brominated Vegetable Oil Market share, By Application, 2021 and 2028
- 6.2 Beverages
  - 6.2.1 Global Brominated Vegetable Oil Market by Beverages, 2022 - 2028 (USD Million)
- 6.3 Sports Drinks
  - 6.3.1 Global Brominated Vegetable Oil Market by Sports Drinks, 2022 - 2028 (USD Million)
- 6.4 Sodas
  - 6.4.1 Global Brominated Vegetable Oil Market by Sodas, 2022 - 2028 (USD Million)
- 6.5 Bakery Products
  - 6.5.1 Global Brominated Vegetable Oil Market by Bakery Products, 2022 - 2028 (USD Million)
- 6.6 Pesticides
  - 6.6.1 Global Brominated Vegetable Oil Market by Pesticides, 2022 - 2028 (USD Million)
- 6.7 Flame retardant
  - 6.7.1 Global Brominated Vegetable Oil Market by Flame retardant, 2022 - 2028 (USD Million)
- 6.8 Others
  - 6.8.1 Global Brominated Vegetable Oil Market by Others, 2022 - 2028 (USD Million)
Chapter 7. Brominated Vegetable Oil Market - Regional Analysis
- 7.1 Global Brominated Vegetable Oil Market Regional Overview
- 7.2 Global Brominated Vegetable Oil Market Share, by Region, 2021 & 2028 (USD Million)
- 7.3. North America
  - 7.3.1 North America Brominated Vegetable Oil Market, 2022 - 2028 (USD Million)
    - 7.3.1.1 North America Brominated Vegetable Oil Market, by Country, 2022 - 2028 (USD Million)
- 7.4 North America Brominated Vegetable Oil Market, by Source, 2022 - 2028
  - 7.4.1 North America Brominated Vegetable Oil Market, by Source, 2022 - 2028 (USD Million)
- 7.5 North America Brominated Vegetable Oil Market, by Application, 2022 - 2028
  - 7.5.1 North America Brominated Vegetable Oil Market, by Application, 2022 - 2028 (USD Million)
- 7.4. Europe
  - 7.4.2 Europe Brominated Vegetable Oil Market, 2022 - 2028 (USD Million)
    - 7.4.2.1 Europe Brominated Vegetable Oil Market, by Country, 2022 - 2028 (USD Million)
- 7.4 Europe Brominated Vegetable Oil Market, by Source, 2022 - 2028
  - 7.4.1 Europe Brominated Vegetable Oil Market, by Source, 2022 - 2028 (USD Million)
- 7.5 Europe Brominated Vegetable Oil Market, by Application, 2022 - 2028
  - 7.5.1 Europe Brominated Vegetable Oil Market, by Application, 2022 - 2028 (USD Million)
- 7.5. Asia Pacific
  - 7.5.3 Asia Pacific Brominated Vegetable Oil Market, 2022 - 2028 (USD Million)
    - 7.5.3.1 Asia Pacific Brominated Vegetable Oil Market, by Country, 2022 - 2028 (USD Million)
- 7.4 Asia Pacific Brominated Vegetable Oil Market, by Source, 2022 - 2028
  - 7.4.1 Asia Pacific Brominated Vegetable Oil Market, by Source, 2022 - 2028 (USD Million)
- 7.5 Asia Pacific Brominated Vegetable Oil Market, by Application, 2022 - 2028
  - 7.5.1 Asia Pacific Brominated Vegetable Oil Market, by Application, 2022 - 2028 (USD Million)
- 7.6. Latin America
  - 7.6.4 Latin America Brominated Vegetable Oil Market, 2022 - 2028 (USD Million)
    - 7.6.4.1 Latin America Brominated Vegetable Oil Market, by Country, 2022 - 2028 (USD Million)
- 7.4 Latin America Brominated Vegetable Oil Market, by Source, 2022 - 2028
  - 7.4.1 Latin America Brominated Vegetable Oil Market, by Source, 2022 - 2028 (USD Million)
- 7.5 Latin America Brominated Vegetable Oil Market, by Application, 2022 - 2028
  - 7.5.1 Latin America Brominated Vegetable Oil Market, by Application, 2022 - 2028 (USD Million)
- 7.7. The Middle-East and Africa
  - 7.7.5 The Middle-East and Africa Brominated Vegetable Oil Market, 2022 - 2028 (USD Million)
    - 7.7.5.1 The Middle-East and Africa Brominated Vegetable Oil Market, by Country, 2022 - 2028 (USD Million)
- 7.4 The Middle-East and Africa Brominated Vegetable Oil Market, by Source, 2022 - 2028
  - 7.4.1 The Middle-East and Africa Brominated Vegetable Oil Market, by Source, 2022 - 2028 (USD Million)
- 7.5 The Middle-East and Africa Brominated Vegetable Oil Market, by Application, 2022 - 2028
  - 7.5.1 The Middle-East and Africa Brominated Vegetable Oil Market, by Application, 2022 - 2028 (USD Million)
Chapter 8. Company Profiles
- 8.1 Penta Manufacturing Company
  - 8.1.1 Overview
  - 8.1.2 Financials
  - 8.1.3 Product Portfolio
  - 8.1.4 Business Strategy
  - 8.1.5 Recent Developments
- 8.2 Parchem Fine & Specialty Chemicals
  - 8.2.1 Overview
  - 8.2.2 Financials
  - 8.2.3 Product Portfolio
  - 8.2.4 Business Strategy
  - 8.2.5 Recent Developments
- 8.3 Spectrum Chemical Manufacturing Corp
  - 8.3.1 Overview
  - 8.3.2 Financials
  - 8.3.3 Product Portfolio
  - 8.3.4 Business Strategy
  - 8.3.5 Recent Developments

Table Of Figures

1. Market research Type
2. Market research methodology
3. Global Brominated Vegetable Oil Market, 2022 - 2028 (USD Million)
4. Porter’s Five Forces Analysis
5. Global Brominated Vegetable Oil Market attractiveness, By Source
6. Global Brominated Vegetable Oil Market attractiveness, By Application
7. Global Brominated Vegetable Oil Market share by Source, 2022 and 2028 (USD Million)
8. Global Brominated Vegetable Oil Market by Soy, 2022 - 2028 (USD Million)
9. Global Brominated Vegetable Oil Market by Corn, 2022 - 2028 (USD Million)
10. Global Brominated Vegetable Oil Market share by Application, 2022 and 2028 (USD Million)
11. Global Brominated Vegetable Oil Market by Beverages, 2022 - 2028 (USD Million)
12. Global Brominated Vegetable Oil Market by Sports Drinks, 2022 - 2028 (USD Million)
13. Global Brominated Vegetable Oil Market by Sodas, 2022 - 2028 (USD Million)
14. Global Brominated Vegetable Oil Market by Bakery Products, 2022 - 2028 (USD Million)
15. Global Brominated Vegetable Oil Market by Pesticides, 2022 - 2028 (USD Million)
16. Global Brominated Vegetable Oil Market by Flame retardant, 2022 - 2028 (USD Million)
17. Global Brominated Vegetable Oil Market by Others, 2022 - 2028 (USD Million)
18. Global Brominated Vegetable Oil Market share, by Region, 2022 and 2028
19. North America Brominated Vegetable Oil Market, 2022 - 2028 (USD Million)
20. Europe Brominated Vegetable Oil Market, 2022 - 2028 (USD Million)
21. Asia Pacific Brominated Vegetable Oil Market, 2022 - 2028 (USD Million)
22. Latin America Brominated Vegetable Oil Market, 2022 - 2028 (USD Million)
23. The Middle-East and Africa Brominated Vegetable Oil Market, 2022 - 2028 (USD Million)

Table Of Tables

1. Global Brominated Vegetable Oil Market: Snapshot
2. Drivers of the Brominated Vegetable Oil Market: impact analysis
3. North America Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
4. North America Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
5. U.S. Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
6. U.S. Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
7. Canada Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
8. Canada Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
9. Europe Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
10. Europe Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
11. Germany Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
12. Germany Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
13. France Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
14. France Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
15. U.K. Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
16. U.K. Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
17. Italy Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
18. Italy Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
19. Spain Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
20. Spain Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
21. Rest of Europe Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
22. Rest of Europe Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
23. Asia Pacific Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
24. Asia Pacific Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
25. China Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
26. China Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
27. Japan Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
28. Japan Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
29. India Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
30. India Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
31. South Korea Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
32. South Korea Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
33. South-East Asia Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
34. South-East Asia Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
35. Rest of Asia Pacific Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
36. Rest of Asia Pacific Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
37. Latin America Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
38. Latin America Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
39. Brazil Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
40. Brazil Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
41. Mexico Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
42. Mexico Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
43. Rest of Latin America Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
44. Rest of Latin America Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
45. The Middle-East and Africa Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
46. The Middle-East and Africa Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
47. GCC Countries Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
48. GCC Countries Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
49. South Africa Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
50. South Africa Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)
51. Rest of Middle-East Africa Brominated Vegetable Oil Market revenue, By Source, 2022 - 2028 (USD Million)
52. Rest of Middle-East Africa Brominated Vegetable Oil Market revenue, By Application, 2022 - 2028 (USD Million)

Methodology

Free Analysis

Brominated vegetable oil (BVO) is obtained by extraction of corn or soybean oil fat. Brominated vegetable oil is mainly used in sodas and sports drinks as additives and is also used as an emulsifier in citrus fruit drink and soft soda drinks. Since 1931, brominated vegetable oil is used by the food industry. Bromination help to emulsify the flavoring agent with sodas and citrus fruit drink. The flavorings agents (lime, lemon, grapefruit, orange, etc.) which are used in drinks are oily in nature. The flavoring agents used in beverage cannot be blended together thus they form a separate layer in soda and other soft drink. Brominated vegetable oil is used to maintain the dispersion of flavoring agent and soft drink or soda.

The major soft drink producers such as PepsiCo and Coca-Cola make use of brominated vegetable oil in their carbonated soft drinks. In most of the countries, use of brominated vegetable oil in the soft drinks is regulated.

The global brominated vegetable oil market is anticipated to grow at a significant growth rate. In the U.S. the use of the brominated vegetable oil is regulated by the U.S. FDA; it has imposed a limit on the use of BMO which is 15 pmm. Bromine element is used in most of the beverages. Moreover, consumption of brominated soda and soft drink is not safe for the health. The frequent use of BVO soft drink can lead to ptosis of right eyelid, fatigue, loss of memory, tremors, loss of muscles coordination, and headache. All these factors are anticipated to limit the growth of the market.

Global Brominated Vegetable Oil Market

In addition, there are some soft drinks that contain chemicals such as Yellow Dye #5 and sodium benzoate. These chemicals are banned in Germany, Norway, and Austria as they are hazardous to health.

In 2010, according to the study made by the National Cancer Institute, brominated soda or soft drink is still the number one source of calories for teenagers between the ages of 14 to 18. Amongst adult population, brominated soft drink and other sugary drinks are the fourth largest source of calories, according to the latest dietary statistics from the US Department of Agriculture (USDA).

The global brominated vegetable oil market can be segmented on the basis of applications into bakery products, beverage, and pesticides. The beverage segment is expected to dominate the global brominated vegetable oil market and is expected to maintain this trend over the forecast period. Increasing application of BVO in beverages coupled with the growing consumption of beverage across the globe is expected to drive the demand for brominated vegetable oil in the forecast year.

Based on the region, the market is segmented into North America, Latin America, Europe, the Middle East & Africa, and the Asia Pacific. North America accounted for the most significant share of the brominated vegetable oil market in terms of volume in 2017. This can be attributed to the huge demand for the beverages in the U.S., Canada, etc. The Asia Pacific brominated vegetable oil market is also expected to witness significant growth during the forecast period. Developing countries like China and India have large population base which positively influences the growth of the brominated vegetable oil market during the forecast period.

Some of the major players operating in the global brominated vegetable oil market are Penta Manufacturing Company, Parchem Fine & Specialty Chemicals, and Spectrum Chemical Manufacturing Corp., among others.

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FrequentlyAsked Questions

Which key factors will influence brominated vegetable oil market growth over 2022-2028?

What will be the value of the brominated vegetable oil market during 2022-2028?

According to the Market Research report, 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.