Brominated Vegetable Oil Market Size, Share, Growth Report 2032

Brominated Vegetable Oil Market: Industry Prospective

The global brominated vegetable oil market size was worth around USD 2892.7 million in 2021 and is estimated to grow to about USD 4011.31 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.

The global brominated vegetable oil market  was worth around USD 2892.7 million in 2021 and is estimated to grow to about USD 4011.31 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.6 percent over the forecast period.

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.

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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.

Brominated Vegetable Oil Market: Report Scope

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.

Brominated Vegetable Oil Market: 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.

Brominated Vegetable Oil Market:: 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