Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 2892.7 million | USD 4011.31 million | 5.6% | 2021 |
FrequentlyAsked Questions
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.
According to the Market Research report, the global brominated vegetable oil market size was worth around USD 2892.7 million in 2021 and is estimated to grow to about USD 4011.316268 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.6 percent over the forecast period.
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.
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.
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