“The global market for activated bleaching earth is expected to grow at a CAGR of over 3% during the forecast period. Major factor driving the market studied is increasing demand for edible oils. On the flip side, unfavorable conditions arising due to the COVID-19 outbreak is hindering the growth of the market.
The edible oils & fats segment is expected to dominate the global activated bleaching earth market over the forecast period.
Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
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Key Market Trends
Increasing Demand for Edible Oil & Fats
– Activated bleaching earth is also called wash clay. It is used to remove the colors from the edible oils and fats.
– It is produced from clays which are usually contain high proportions of montmorillonites through acid activation.
– Activated bleaching earth is used in fish oils and fish oil concentrates, typically Omega-3 fish oils, tallow oil, lard oil etc. It is also used in the refining if vegetable oils such as vanaspati ghee oils, margarine among others.
– The per capita use of vegetable oils in food application is expected to grow both in developed and developing countries in coming years attributed by the increasing number of health-conscious consumers, rising population, and changing living standards.
– Asia-Pacific registered the highest growth in edible oils and fats, across the world, due to huge demand from the food and other industrial sectors in the region.
– Therefore, the demand for activated bleaching earth for edible oil & fats application is expected to grow during the forecast period.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific region is expected to account for the largest market for activated bleaching earth during the forecast period.
– In Asia-Pacific, China holds the largest share of vegetable oil consumption, as well as production. Though the production volume is high, consumption exceeds production, resulting in higher import volumes when compared to export volumes.
– India holds the second largest consumer and highest importer of vegetable oils globally. The consumption of vegetable oil of the country is expected to reach 37 Mt by 2027.
– According to the Food and Agriculture Organization of the United Nations, India is expected to maintain a high per capita consumption growth of 3.1% per year to reach 24 kg per capita by 2027.
– Furthermore, countries such as Japan and South Korea have also been contributing to the growth of the market studied. This is expected to further drive the demand for activated bleaching earth market over the forecast period.
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