Nutrition oil powders are convenient mixing powders that are consumed to enhance the daily calorie intake and essential fatty oils. Moreover, they can be substituted as daily meal replacement formulas. These powders are easy to assimilate. Furthermore, they are suitable for both the geriatric and pediatric populations. Manufacturers and producers utilize these nutritional oil powders in the food and beverage sector in the form of a tablet, hard gel, and sprinkled powder in various products including smoothies and nutrition bars.
The growing health consciousness among people regarding their calorie intake is one of the primary factors driving the growth of the global nutritional oil powder market. However, the growing prevalence of lifestyle-associated diseases, including cholesterol and cardiovascular issues further compel people to adopt such nutritional oil powders to meet their daily nutritional requirements. The growing disposable income of the people induces them to pay more for premium products with better and organic ingredients. However, the growing inclination of people towards veganism further boosts the sales of such nutritional oil powders. The surging applications of nutritional oil powders in the cosmetic and personal care sectors are likely to promulgate the demand for nutrition oil powders globally.
The global nutritional oil powder market can be segmented into application, type, and region.
By type, the market can be segmented into conventional and organic.
By application, the market can be segmented into sports nutrition, infant formula, cosmetic & personal care, food processing, animal nutrition, nutraceuticals, and others.
North America holds the largest share in the global nutritional oil powder market due to the growing demand for personal care and cosmetic products in the region. Moreover, the surging trend of veganism in the region will further boost the growth of the regional market. The presence of prominent market leaders is likely to escalate the growth of the regional market in the forthcoming years.
Asia Pacific is likely to witness a significant growth rate during the forecast period due to the growing disposable income of people in the region. Moreover, the growing health consciousness among people will also propel the growth of the regional market.
Some of the significant players in the global nutritional oil powder market are Alsec Alimentos Secos SAS, Ming City Biotechnology Ltd., Stepan Company, Custom Food Ingredients Sdn Bhd, SMS Corporation, Science Corporation, Bioriginal Food, Crestchem Ltd., Arjuna Natural Pvt Ltd., ABITEC Corporation, The Green Labs LLC, and Connoils LLC. To cite, Archer Daniels Midland Company in August 2018 launched Onavita™ algal DHA powder to widen their health and wellness product portfolio.