Market Trends of Bleaching Clays Industry
This section covers the major market trends shaping the Bleaching Clays Market according to our research experts:
Increasing Demand from the Food and Beverage Industry
- Bleaching clays are used in the refining of vegetable oils, hydrogenated vanaspati ghee oils, and margarine, among others. They are also used during the refining of fats like tallow oil, fish oil, lard oil.
- Vegetable oils hold a major share in the food industry. The growing preferences for a vegan diet among people also boosting the demand for vegetable oils in recent times. In addition, various oils are used as food supplements for their nutrient content or purported medicinal effect. Therefore, the growing demand for vegetable oils from food and beverage is expected to boost the demand for bleaching clays in the coming years.
- A prominent factor increasing the use of vegetable oils is the growing consumption of processed food. With the growing popularity of vegetable oils, various manufacturers are investing in the innovation of advanced vegetable oils.
- 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 exports.
- In the United States, there are more than 36,000 food and beverage processing establishments (plants), with California, New York, and Texas leading the number of plants in the country.
- According to fooddrinkeurope.eu, food and drink is the largest manufacturing sector with a turnover of more than EUR 1.2 billion at present in Europe with around 294,000 companies operating in the market.
- The food and beverage industry is the largest manufacturing sector in the United Kingdom. By the end of the forecast period, the retail sales in the United Kingdom packaged food market is projected to be about USD 100 billion with a CAGR of more than 10%. Hence, the demand for bleaching clays in the food and beverage sector is expected to remain stable.
- Therefore, the growing demand for vegetable oils is expected to boost the demand for bleaching clays from the food and beverage industry during the forecast period.
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The Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to account for the largest bleaching clays market, and it is also expected to be the fastest-growing region during the forecast period.
- The region registered the highest demand for vegetable oils, across the world, due to huge demand from the food and other industrial sectors, attributed to the increasing number of health-conscious consumers, rising population, and changing living standards, coupled with the presence of major producing nations in the region.
- In China, the revenue from the food and beverage industry was estimated at USD 152,445 million in 2020. The revenue is projected to reach USD 176,857 in 2021. The revenue is estimated to show an annual growth rate of over 8% over the forecast period and reach USD 244,055 million in 2025. This is expected to increase the demand for bleaching clays in the food and beverage industry.
- Additionally, personal care is one of the fastest-growing sectors in the region. Countries such as China, India, Japan, South Korea, etc., continue to grow in population, fueling the demand for personal care products in these countries, which, in turn, augment the market studied.
- China is the world's second-largest cosmetics market and emerging as the largest market for cosmetics and skincare products globally. The Chinese cosmetics and skincare market, which includes various industries, such as makeup, skincare, haircare, personal hygiene, experienced growth in 2019-2020. Furthermore, the continuous population growth is another factor fueling the demand for cosmetics products in the country. This, in turn, is augmenting the growth of the market studied.
- Japan has the world's third-largest cosmetics market. However, the Japanese cosmetics market saw a downtime in the recent past. However, an upturn in consumer confidence and demand from incoming tourists is expected to boost the growth of the cosmetics market.
- Japan has more than 2,500 cosmetics manufacturers, of which Shiseido and Kao rank 7th and 9th, respectively, among the global cosmetics companies. Furthermore, the major players such as Shiseido company, Mandom Corporation, Loreal, Procter and Gamble, Unilever, and others are actively driving the market in the nation with their constant efforts in providing consumers with their innovative products.
- Therefore, the growing demand for vegetable oils and the growing personal care sector are expected to boost the demand for bleaching clays in the Asia-Pacific region during the forecast period.
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