Global Nutritional Oil Powder Market Overview
Nutritional Oil Powder Market Size was estimated at 15.25 (USD Billion) in 2022. The Nutritional Oil Powder Industry is expected to grow from 16.07(USD Billion) in 2023 to 25.77 (USD Billion) by 2032. The Nutritional Oil Powder Market CAGR (growth rate) is expected to be around 5.39% during the forecast period (2024 - 2032).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Nutritional Oil Powder Market Trends Highlighted
Key Market Drivers
Health and wellness needs are at the forefront of consumers’ expectations, bringing an understanding to nutritional oil powders that come with additional essential fatty acids, vitamins and antioxidants. Rising chronic disease incidence and the popularity of health-oriented diets positively affect market growth.
Opportunities to be Explored
With increasing knowledge of plant-based oils, vegan and vegetarian nutritional oil powders can be developed. New technologies associated with encapsulation and delivery systems allow adding more bioactive ingredients that are more stable and easier to incorporate into the end product.
Trends in Recent Times
The market is improving owing to the increasing demand for functional nutritional oil powders, which are being designed for particular health concerns, including, but not limited to, nutrition related to sports, weight loss control, and executive function of the brain. Convenience and packaging innovations are also contributing to the increase in sales; sachets, single-serving and on-the-go formats are becoming more popular.
Nutritional Oil Powder Market Drivers
Rising Health Consciousness Among Consumers
Consumers are increasingly becoming more aware of the importance of maintaining a healthy lifestyle, which has led to a growing demand for nutritional products. Nutritional oil powders are a convenient and effective way to incorporate essential nutrients into the diet, and this has contributed to their popularity. Additionally, the growing prevalence of chronic diseases such as obesity and heart disease has made consumers more proactive in seeking out preventive measures, including the consumption of nutritional supplements like oil powders.
Expansion of the Nutraceutical Industry
Globally, the nutraceutical industry is rapidly growing as more people seek natural and functional foods. Many nutraceutical products require nutritional oil powders as major functional ingredients because they provide concentrated sources of vital nutrients that have various functions for health benefits. In summary, the nutraceutical industry’s fast growth is fostering demand for nutritional oil powders.
Technological Advancements in Encapsulation
Novel strategies in the field of food encapsulation have allowed for improving the stability, bioavailability, and functionality of nutritional oil powders. The process of encapsulation implies densely packing oil-soluble nutrients into micro- or nanoparticles and interspersing them in a protective material, usually a polysaccharide. This way, oil powders become more resilient to degradation and more effective in the body, which gives them a wider range of potential applications across the food and beverage industries.
Nutritional Oil Powder Market Segment Insights
Nutritional Oil Powder Market Application Insights
The Nutritional Oil Powder Market segmentation by application includes Food and Beverages, Dietary Supplements, Cosmetics and Personal Care, and Pharmaceuticals. The Food and Beverages segment is expected to dominate the market with a valuation of 8.7 billion USD in 2023 and is projected to reach 14.5 billion USD by 2032, exhibiting a CAGR of 5.7%. This segment's growth is primarily driven by the increasing demand for nutritional products in the food and beverage industry. The Dietary Supplements segment is another significant contributor to the Nutritional Oil Powder Market, with an estimated valuation of 3.5 billion USD in 2023.It is anticipated to expand at a CAGR of 5.6%, reaching 5.8 billion USD by 2032. The growing consumer awareness regarding health and wellness has fueled the segment's growth, leading to higher consumption of dietary supplements containing nutritional oil powders. The Cosmetics and Personal Care segment is projected to witness steady growth, with a valuation of 2.3 billion USD in 2023 and an expected CAGR of 5.4% until 2032. This segment's growth is attributed to the increasing demand for natural and organic skincare and hair care products, which often incorporate nutritional oil powders for their nourishing and rejuvenating properties.Lastly, the Pharmaceuticals segment is expected to witness a moderate growth rate, with a valuation of 1.5 billion USD in 2023 and a projected CAGR of 4.8% until 2032. The segment's growth is driven by the rising demand for nutritional supplements in the healthcare industry, particularly for the management of chronic conditions and the improvement of overall health.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Nutritional Oil Powder Market Source Insights
The key sources of nutritional oil powder are canola oil, soybean oil, sunflower oil, corn oil, and fish oil. Canola oil led the market in 2023, generating nearly one-third of the revenue. Omega-3 fatty acid, the main ingredient in the product, is essential for the normal functioning of the human heart and brain. The current study also indicated that soybean oil is one of the leading sources of nutritional oil powder, having a considerable market share. The oil is a source of protein and vitamins, combined with its popularity in cooking and making salad dressings.Sunflower oil, another key source, is beneficial for its high content of vitamin E. The other two reliable sources are corn oil that is rich in omega-6 fatty acids, and fish oil that is a great source of omega-3 fatty acid. The demand for the nutritional oil powder from those sources is mostly affected by the fact that customers are increasingly educated on the advantages of the essential fatty acids and vitamins.
Nutritional Oil Powder Market Form Insights
The Nutritional Oil Powder Market is segmented based on Form into Dry Powder, Liquid Powder, and Emulsions. Among these, the Dry Powder segment held the largest market share in 2023 and is expected to continue its dominance throughout the forecast period. The growing popularity of dry powder formulations in nutritional supplements, food products, and beverages is primarily driving the growth of this segment. Dry powders offer several advantages, including ease of handling, storage, and transportation, which make them a preferred choice for manufacturers and consumers alike.Liquid Powder and Emulsions are also gaining traction in the market due to their unique properties and applications in various industries.
Nutritional Oil Powder Market Function Insights
The Nutritional Oil Powder Market, segmented by function, comprises 'Nutritional Fortification,' 'Flavor Enhancement,' and 'Oil Encapsulation.' The Nutritional Fortification segment held the largest market share in 2023, valued at USD 6.76 billion. It is projected to reach USD 10.42 billion by 2032, exhibiting a CAGR of 5.63% during the forecast period. This growth can be attributed to rising consumer awareness about the health benefits of fortified foods and increasing demand for functional foods. The Flavor Enhancement segment is anticipated to grow at a CAGR of 5.24%, reaching a value of USD 2.6 billion by 2032.This segment's growth is fueled by the increasing demand for processed foods and beverages with enhanced flavors. The Oil Encapsulation segment is expected to exhibit a CAGR of 5.19%, valued at USD 1.32 billion by 2032. The growth in this segment is driven by the growing need to protect sensitive oils from oxidation and improve their stability.
Nutritional Oil Powder Market Regional Insights
The Nutritional Oil Powder Market is segmented into North America, Europe, APAC, South America, and MEA. The APAC region is expected to hold the largest market share in 2023, owing to the increasing demand for nutritional oil powder in countries such as China and India. The market in North America is expected to grow at a steady pace during the forecast period, due to the rising awareness about the health benefits of nutritional oil powder. Europe is also expected to witness significant growth in the nutritional oil powder market, driven by the increasing demand for natural and organic food products.The market in South America is expected to grow at a moderate pace, while the MEA region is expected to witness the fastest growth, owing to the growing population and rising disposable income.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Nutritional Oil Powder Market Key Players And Competitive Insights
Major players in the Nutritional Oil Powder Market industry are focusing on expanding their product portfolio by introducing new and innovative products. For instance, in March 2023, Glanbia Nutritionals launched a new range of nutritional oil powders under the brand name OptiSol. These products are specifically designed for the sports nutrition market and are claimed to provide a range of benefits, including improved muscle recovery and performance. Leading Nutritional Oil Powder Market players are also investing in research and development to improve the quality and functionality of their products. For example, in April 2023, ADM announced that it had developed a new process for producing nutritional oil powders that results in a higher concentration of nutrients. This new process is expected to improve the efficacy of the company's products and give it a competitive edge in the market.Archer Daniels Midland Company (ADM) is a leading player in the Nutritional Oil Powder Market. The company offers a wide range of nutritional oil powders, including canola oil powder, sunflower oil powder, and soybean oil powder. ADM's nutritional oil powders are used in a variety of food and beverage applications, including bakery products, dairy products, and nutritional supplements. The company has a strong presence and sells its products in over 100 countries. ADM is committed to innovation and sustainability and is constantly investing in new technologies to improve the quality and functionality of its products.Wilmar International Limited is another major player in the Nutritional Oil Powder Market. The company offers a wide range of nutritional oil powders, including palm oil powder, coconut oil powder, and rice bran oil powder. Wilmar's nutritional oil powders are used in a variety of food and beverage applications, including bakery products, dairy products, and nutritional supplements. The company has a strong presence and sells its products in over 50 countries. Wilmar is committed to sustainability and is working to reduce its environmental impact. The company is also investing in new technologies to improve the quality and functionality of its products.
Key Companies in the Nutritional Oil Powder Market Include
-
Axiom Foods, Inc.
-
Viachem Global Ingredients
-
Ingredion Incorporated
-
Wilmar International Limited
-
Glanbia Nutritionals
-
Arla Foods amba
-
FrieslandCampina
-
Archer Daniels Midland Company
-
Danone SA
-
Bunge Limited
-
Royal FrieslandCampina N.V.
-
Cargill, Incorporated
-
AAK AB
-
Fonterra Cooperative Group
-
Kerry Group plc
Nutritional Oil Powder Market Industry Developments
The Nutritional Oil Powder Market is projected to grow from USD 17.34 billion in 2023 to USD 25.77 billion by 2032, at a CAGR of 5.39% during the forecast period. The increasing demand for nutritional supplements and functional foods, along with the growing awareness about the health benefits of omega-3 fatty acids, is driving the growth of the market.Recent news developments and current affairs in the market include:In January 2023, Cargill announced the launch of its new line of nutritional oil powders, which are produced using a proprietary cold-extraction process that preserves the natural nutrients and flavors of the oils.In March 2023, Glanbia Nutritionals acquired Watson Foods, a leading manufacturer of nutritional oil powders and other functional food ingredients. This acquisition strengthens Glanbia's position in the nutritional oil powder market.These developments indicate a growing interest in nutritional oil powders and their potential applications in the supplement, food, and beverage industries.
Nutritional Oil Powder Market Segmentation Insights
| Report Attribute/Metric |
Details |
| Market Size 2022 |
15.25(USD Billion) |
| Market Size 2023 |
16.07(USD Billion) |
| Market Size 2032 |
25.77(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.39% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Axiom Foods, Inc., Viachem Global Ingredients, Ingredion Incorporated, Wilmar International Limited, Glanbia Nutritionals, Arla Foods amba, FrieslandCampina, Archer Daniels Midland Company, Danone SA, Bunge Limited, Royal FrieslandCampina N.V., Cargill, Incorporated, AAK AB, Fonterra Cooperative Group, Kerry Group plc |
| Segments Covered |
Application, Source, Form, Function, Regional |
| Key Market Opportunities |
Increasing demand for fortified foods Rising health consciousness Technological advancements Expanding applications in dietary supplements Growing popularity in sports nutrition |
| Key Market Dynamics |
Rising health consciousness, increasing demand for fortified foods, growing awareness of nutritional benefits, technological advancements in encapsulation, expanding ecommerce platforms |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Nutritional Oil Powder Market is expected to reach a valuation of 16.07 Billion USD in 2023.
The Nutritional Oil Powder Market is projected to grow at a CAGR of 5.39% from 2024 to 2032.
North America is expected to dominate the Nutritional Oil Powder Market in 2023, accounting for a significant share of the market.
Nutritional Oil Powder finds applications in various industries, including food and beverages, dietary supplements, and pharmaceuticals.
Archer Daniels Midland Company, Cargill, Incorporated, and Glanbia plc are among the major competitors in the Nutritional Oil Powder Market.
The Nutritional Oil Powder Market is projected to reach a valuation of 25.77 Billion USD by 2032.
Rising health consciousness, increasing demand for convenience foods, and growing awareness of the benefits of nutritional oils are driving the growth of the Nutritional Oil Powder Market.
Fluctuating raw material prices, regulatory challenges, and intense competition are among the challenges faced by the Nutritional Oil Powder Market.
Expansion into emerging markets, product innovation, and strategic partnerships present opportunities for growth in the Nutritional Oil Powder Market.
Clean label trend, focus on sustainable sourcing, and personalized nutrition are key trends shaping the Nutritional Oil Powder Market.
