What is Nutritional Oil Powder Market?
The global nutritional oil powder market is expected to grow at a healthy pace during the forecast period, according to the AMA study. The rising number of chronic disorders propelling the adoption of protein-based supplements and growth in the sports nutrition sector worldwide are expected to be some of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a healthy pace after the COVID-19 pandemic is over.
The market study is being classified by Type (Canola Oil Powder, Palm Oil Powder, Sunflower Oil Powder, Soybean Oil Powder, Coconut Oil Powder, Flaxseed Oil Powder and Others), by Application (Food Processing, Animal Nutrition, Sports Nutrition, Infant Formula, Cosmetic & Personal Care and Nutraceutical) and major geographies with country level break-up.
ABITEC Corporation (United States), Arjuna Natural Pvt Ltd. (United States), ALSEC (Colombia), Bioriginal Food & Science Corp (Canada), CONNOILS (Canada), Crestchem Ltd. (India), Custom Food Group (Malaysia), Ming Chyi Biotechnology Ltd (Taiwan), Stepan Company (United States), SMS Corporation (Thailand) and The Green Labs LLC (United States) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Nutritional Oil Powder market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Nutritional Oil Powder market by Type, Application and Region.
On the basis of geography, the market of Nutritional Oil Powder has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Number of Chronic Disorders Propelling the Demand for Nutritional Oil Powder
- Growth in Sports Nutritional Products Sector
- Rising Awareness for a Healthier Lifestyle
- Lack of Awareness Across Remote Locations
- Opportunities in the Asia Pacific Region
- Short-term Challenges due to Reduced Operations Across Different Industries & Economic Crisis caused by COVID-19 Pandemic Leading to Demand & Supply Gap in the Market
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Nutritional Oil Powder
Analyst CommentSince the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already hit many industries and will affect the nutritional oil powder market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.
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