Some of the top companies operating in the Middle East edible oil co-products and by-products market are VVF L.L.C., Cayman Chemical Company, Rade Chemicals, Chemipakhsh Iran Co. Ltd., Mallinath Group, A & B Chemical Corporation, Iran Chemical Provider Co., Genome Specialities Fzc, Oleo Misr, and Arabian Environmental Protection Co. LLC. Transparency Market Research has observed that the presence of local players is rather strong in several country-specific markets.
“Players in the Middle East edible oil co-products and by-products market are focused on different regions, end uses, and product types, based on their individual business interests and the opportunities presented by each segment,” the lead analyst at TMR states.
For instance, in Turkey, local manufacturers have been concentrating on the production of hard oil fatty acid distillates as an economic alternative to soaps. Pure acid oil offers lucrative options for players in Egypt and Turkey, where the demand for animal feed is high.
Market Looks to Demand for and Sales of Dried Soap Stock for Growth
“Dried soap stock is one of the key segments of the Middle East edible oil co-products and by-products market and growing demand for the same visibly impacts the overall market,” states the author of the report. “The market for dried soap stock is anticipated to witness a steady increase during the forecast period owing mainly to the extensive use of this co-product in animal feed.”
Dried soap stock increases the nutritional value of animal feed, provides flexibility in processing and utilization, and improves pelletizing. When treated with a strong mineral acid and converted into a crude mixture of fatty acids, it is used as a calorific component in animal feed. However, shrinking water resources, food shortages, and escalating feed prices are likely to hamper the growth of this segment. Moreover, the market for dried soap stock is anticipated to reach a state of maturity in the product life cycle. This is expected to affect the development of the overall market for edible oil co-products and by-products.
TMR recommends that companies in the market can depend on product innovation and new applications to cushion the impact of these roadblocks. Research and development activities dedicated toward finding new applications also presents significant opportunities for players.
Mixed Soft Oil Fatty Acid Distillates to Register Robust Growth by Value and Volume
The demand for edible oil co-products and by-products in the Middle East was pegged at 388,944.3 tonnes in 2015 and is expected to reach 559,775.89 tonnes by 2024, exhibiting a CAGR of 4.2% therein. Revenue-wise, the market is set to expand at a 5% CAGR from 2016 to 2024. By edible oil co-products and by-products, the Middle East market is led by dried soap stock, in terms of both volume and value. By volume, the segment is projected to reach 226,037.50 tonnes by 2024. On the other hand, mixed soft oil fatty acid distillates will form the fastest growing segment in the edible oil co-products and by-products market by 2024, registering a 5.9% CAGR by volume.
This review is based on the findings of a TMR report titled “Edible Oil Co-Products and By-Products Market: Middle East Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
- Middle East Edible Oil Co-Product and By-Products Market, by Product Type
- Dried Soap Stock
- Hard Oil Fatty Acid Distillate
- Pure Soft Oil Fatty Acid Distillate
- Mixed Soft Oil Fatty Acid Distillate
- Pure Acid Oil
- Palmitic Acid
- Stearic Acid
- Earth Distillate
- Middle East Edible Oil Co-Product and By-Products Market, by End Use
- Animal Feed
- Soaps and Detergent
- Personal Care Products
- Intermediate Chemical
- Middle East Edible Oil Co-Product and By-Products Market, by Geography
- Kingdom of Saudi Arabia