Rising demand for white oil for their application in food and dietary products is anticipated to create opportunities for the growth of the market in the upcoming years. The growth of the white oil demand is anticipated to influence positively by the increased food production and consumption in the Middle East and North Africa. Moreover, as the use of personal care and cosmetics has increased in the MENA region, so has the amount of white oil used in the production of personal care and cosmetic products. Due to the water- and moisture-resistant features, white oils are also widely used in the manufacturing of specialty adhesives and elastomers, which is expected to fuel the growth of the white oil market during the forecast period. MENA white oil market size is forecast to reach US$166.8 million by 2027 after growing at a CAGR of 3.7% during 2022-2027.
White mineral oil is widely used in the food sector and is preferred in several culinary processes, particularly it is applied in baking pan oils, food packaging materials, and in the production of food-grade lubricants and greasers in the food industry. Population growth, high GDP per capita and rising tourist arrivals are driving factors of the food and beverage (F&B) sector, thus, which has raised the opportunities for the growth of the MENA white oil market. Additionally, due to the beneficial characteristics of white oil, it is ideal for food additives. They are also commonly employed as an anti-sticking agent to prevent candies from sticking together, as a lubricating agent in food processing, a releasing agent, and a de-foaming agent. Increasing production of food products coupled with rising food consumption in the MENA region is estimated to create opportunities for the growth of the white oil market. For instance, according to Alpen Capital the financial institution in Dubai, United Arab Emirates, food consumption is expected to increase by 2.3% by 2025, reaching 52.4 million metric tonnes, with a stronger emphasis on domestic production. The Gulf Cooperation Council (GCC) used 46.8 million metric tonnes of food in 2020, with Saudi Arabia and the UAE consuming 77.9% of the total due to their larger populations. As per Dubai Exports, the F&B sector is one of the top strategic sectors in the UAE, owing to its high value-added contribution of 12% to manufacturing value-added, as well as its diversity and importance to food security. In recognition of its future potential for Dubai's economic growth and sustainability, the F&B sector has been selected as one of the six focus sectors of Dubai Industrial Strategy 2030. Thus, with changing lifestyles in both the Middle East & North African countries, demand for packaged food is surging at a rapid pace. According to the Saudi Vision 2030 and the UAE National Food Security Strategy 2051, a shift toward domestic production will help achieve food sufficiency, security, and would also further raise the demand for white oil in the MENA region.
Middle East region dominated the MENA
white oil market in terms of revenue with a share of 85% in 2021 and is
projected to dominate the market during the forecast period (2022-2027). According to the International Trade
Administration, Israel’s healthcare technology market is estimated at US$ 6.2
billion, of which devices account for US$ 2.4 billion and pharmaceutical US$
3.8 billion of which imports make up over 65% of the device market and 60% of
the pharmaceutical market. White oil is widely used in the pharmaceutical
sector for making balm, creams, lotions, ointments, vaccines and others. The
food processing sectors widely uses white oil in food lubricant to extend the
life span of food. It also require different packaging that require white oil
to distribute food across region. The food processing sector in Israel is one
of the major contributor for domestic economy and having more than 1800 food
processing units across the country. The total export of agricultural products
is around US$2,181 million in 2020. Therefore,
the growing demand for the pharmaceutical products, packaging, processed food
and trade of agriculture product which require food lubricants, packaging and
others composed of white oil will boost the demand for MENA white oil market
during the forecast period.
For More Queries About "MENA White Oil Market" @ https://www.industryarc.com/support.php?id=19858
MENA White Oil Market Growth Driver
Significant market traction from increasing demand for
white oil across the personal care and cosmetic sector.
The most apparent application for while oil is in the personal care and cosmetic products. An increase in spending on makeup and skincare products such as creams, lotions, hair food formulations, hair oils, foot care formulations, baby oils, message oils, bath oils, and others, has driven the growth of the industry. Additionally, in formulas for ageing, sensitive, or barrier-damaged skin, liquid paraffin (white oil) is employed, as the skin requires a protective barrier against specific environmental conditions and/or skin conditions. Furthermore, as personal care and cosmetics usage has increased in the MENA region, the amount of white oil used for the production of personal care and cosmetic products has also increased. HSOA Journal of Pharmacology, Pharmaceutics & Pharmacovigilance states that to align and achieve Saudi Vision 2030, the Saudi government must increase its investment in developing innovative and effective cosmetics and beauty care sectors collaboration and cooperation platforms, policies, and regulatory compliance to meet public requirements. Also, as per the Journal, Saudi Arabia's developing cosmetics business is one of the largest in the Middle East, valued at over SR60 billion (US$ 160,000) annually and expected to increase at an annual pace of 11%. The average annual gross domestic product (GDP) growth rate per capita reached SR112,500 (US$ 32,840) billion by 2020, with 4.4%. Moreover, increasing investments in the set-up of new personal care manufacturing plants in North Africa has also driven the demand for white oil in the MENA region. For instance, in December 2018 the Unilever Group opened a new cosmetics and personal hygiene production unit with an investment cost of 1.35 billion Algerian dinars (US$ 7.5 million). Thus, the rising usage of white oil across the personal care and cosmetic sectors is projected to fuel the market during the forecast period.
The Major Players in this Market Include
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the MENA white oil market. Major players in the MENA white oil market encompass Exxon Mobil Corporation, Royal Dutch Shell PLC, Chevron, FUCHS, APAR Industries Limited, Texol Lubritech FZC, Asia Petrochemicals LLC, Panol Industries RMC FZE, Sonneborn, LLC, Qatar Lubricants Co. (QALCO) and Others. In March 2021, FUCHS Egypt Lubricants LLC, a startup sales company expanded its presence in Africa with a new joint venture in Egypt. The joint venture was done between FUCHS PETROLUB SE and ALHAMRANI Group.
In the year 2021 COVID-19 had impacted
all the industries in the MENA region. The demand for white oils in the
personal care and textile industries slightly increased as customers started
purchasing more personal care and clothing products. Additionally, the
re-opening of restaurants and bars resulted in a rise in demand for white oils
in the food industry. Moreover, it is estimated that with the continuous
investments and upliftment of several end-use industries in the MENA region,
the demand for white oil will increase in the upcoming years.
To request for a quote, provide your details in the below link:
Mr. Venkat Reddy
Email: [email protected]
Contact Sales: +1-970-236-3677
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.