Fixed Oils Market to Grow with a CAGR of 5.3% Globally through 2028
Rising health awareness and shift towards sustainable
and ethical sourcing are driving the Global Fixed Oils Market in the forecast
period 2024-2028.
According to TechSci Research report, “Global Fixed
Oils Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Fixed Oils Market stood at USD 185.56 Billion
in 2022 and is anticipated to grow with a CAGR of 5.3% in the forecast period,
2024-2028. The global fixed oils market is a dynamic and essential sector that
serves a wide range of industries, including food, cosmetics, pharmaceuticals,
and biofuels. Fixed oils, also known as vegetable oils, are derived from
various plant sources such as seeds, nuts, and fruits, and they play a
fundamental role in numerous products worldwide. This market has witnessed
significant growth and transformation in recent years, driven by various
factors that contribute to its overall vitality.
The major drivers of the global fixed oils market is
the increasing consumer demand for healthier and more natural ingredients. In
the food industry, consumers are becoming more health-conscious, leading to a
preference for cooking oils and food products made with natural and unprocessed
ingredients. Fixed oils, such as olive oil and coconut oil, have gained
popularity due to their perceived health benefits, including high levels of
monounsaturated fats and antioxidants. As a result, these oils are often used
as alternatives to synthetic additives, trans-fats, and preservatives in
cooking and food preparation. The demand for natural and organic food products
has propelled the growth of this market segment.
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The cosmetic and personal care industry is another
significant driver of the global fixed oils market. Fixed oils are prized for
their moisturizing, nourishing, and emollient properties, making them valuable
ingredients in skincare and haircare products. Consumers are increasingly
seeking natural and plant-based solutions in their beauty routines, and fixed
oils, such as argan oil and jojoba oil, fit this preference perfectly. Their
use in products like moisturizers, serums, and shampoos has surged due to the
perceived benefits for skin and hair health. This trend reflects the evolving
beauty standards and health-consciousness among consumers.
Sustainability and ethical sourcing practices have
emerged as crucial drivers shaping the global fixed oils market. Many consumers
are now concerned about the environmental and social impacts of their
purchasing decisions. Consequently, companies in the fixed oils market are
adopting responsible sourcing practices, such as organic farming, fair trade,
and sustainable cultivation methods. For instance, the palm oil industry has
faced criticism for its role in deforestation and habitat destruction. To address
these concerns, companies are increasingly committing to using certified
sustainable palm oil (CSPO) or seeking alternatives. Sustainability-focused
initiatives are becoming essential for maintaining brand reputation and meeting
consumer expectations.
The pharmaceutical and nutraceutical sectors are
experiencing rising demand for fixed oils due to their potential health
benefits. Fixed oils are rich sources of nutrients and bioactive compounds that
have therapeutic properties. For example, fish oil is renowned for its omega-3
fatty acids, which have cardiovascular and anti-inflammatory benefits. In the
pharmaceutical industry, fixed oils are used as excipients in drug
formulations, while in the nutraceutical sector, they are incorporated into
dietary supplements. As scientific research continues to uncover the
health-promoting properties of fixed oils, their utilization in these
industries is expected to expand further.
Lastly, the global fixed oils market is influenced by
the growing biofuels industry. Fixed oils, particularly those derived from
crops like soybeans, rapeseed, and palm, serve as feedstock for biodiesel
production. The need to reduce greenhouse gas emissions and combat climate
change has led to the promotion of biofuels as a more sustainable alternative
to traditional fossil fuels. Government incentives, policies supporting biofuel
production, and a growing interest in renewable energy sources have contributed
to the increased demand for fixed oils in this sector. The biofuels industry's
growth prospects have the potential to significantly impact the global fixed
oils market in the coming years.
In conclusion, the global fixed oils market is a vital
and evolving sector, influenced by various drivers such as the demand for
healthier ingredients, the growth of the cosmetic and personal care industry,
sustainability concerns, rising demand in pharmaceutical and nutraceutical
applications, and the expansion of the biofuels industry. As consumer
preferences continue to evolve, the fixed oils market will adapt and remain a
crucial component of the global economy.
The Global Fixed Oils Market is segmented into product
type, nature, distribution channel, regional distribution, and company.
Based on product type the market is segmented into coconut
oil, olive oil, sesame oil, sunflower oil, and others. The global fixed oils
market has experienced a notable surge in demand for olive oil, particularly
extra virgin olive oil. This increase in demand is driven by consumers' growing
awareness of the numerous health benefits associated with olive oil consumption,
such as its high levels of monounsaturated fats and antioxidants. Olive oil is
also favored for its versatility in culinary applications and its role in Mediterranean
cuisine. Additionally, its use in cosmetics and personal care products has
further contributed to its popularity, reflecting a broader trend towards
natural and plant-based ingredients in various industries.
Based on nature the market is segmented into conventional
and organic.
Based on distribution channel the market is segmented
into direct sales and indirect sales.
Based on region the market is segmented into five
regions, North America, Europe, Asia Pacific, Middle East & Africa, and
South America.
Major companies operating in Global Fixed Oils
Market are:
- Silverline Chemicals
- Wadi Food
- Sakkara.
- AJWA Group
- Moksha Lifestyle Products
- Cargill, Incorporated.
- Rocky Mountain Oils, LLC
- Lebermuth, Inc.
- Essential Oils of New Zealand Ltd.
- Edible Oils Ltd.
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“Increasing demand for cold-pressed and unrefined oils
is a significant trend that is expected to have an impact on growth over the
forecasted period. Rising health awareness and shift towards sustainable and
ethical sourcing and increasing popularity of specialty fixed oils will positively
impact the Global Fixed Oils Market. Due to the wide range of products
available to meet specific needs of, as well as the growing popularity of the direct
sales channel, the market is growing at impressive rate through projected
period,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Fixed
Oils Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Product Type (Coconut Oil, Olive Oil, Sesame Oil, Sunflower Oil,
Others), By Nature (Conventional, Organic), By Distribution Channel (Direct
Sales, Indirect Sales), By Region, By Competition, 2018-2028”, has
evaluated the future growth potential of Global Fixed Oils Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Fixed Oils Market.
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