Middle East Edible Oil Co-Products and by-Products Market – Novel Development: TMR

Albany, NY -- (SBWire) -- 04/09/2019 --As per TMR's estimations, the demand for edible oil co-products and by-products is expected to rise from 388,944.3 tons in 2015 to 559,775.89 tons by 2024 end, expanding at a CAGR of 4.20% between 2016 and 2024. In terms of value, the market is expected to report a CAGR of 5.0% during the same time period. Dried soap stock, pure soft oil fatty acid distillate, hard oil fatty acid distillate, mixed soft oil fatty acid distillate, sludge, palmitic acid, pure acid oil, stearic acid, and earth distillate have been considered as the key products available in this market in this report. Among these, the demand for dried soap stocks is projected to rise considerably in the near future, establishing them as the leading product segment, notes the market study.

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Egypt to Maintain Dominance on Middle East Edible Oil Co-Products and By-Products Market

In terms of domestic markets, the report bifurcates the Middle East edible oil co-products and by-products market into Iran, Sudan, Egypt, Morocco, Turkey, Algeria, and the Kingdom of Saudi Arabia. Among these, Egypt has acquired the dominance, thanks to a significantly high demand of dried soap stock in this country. With the rising demand for personal care products in Egypt, this domestic market is likely to remain on the leading position over the forthcoming years, states the research report.

Dried soap stock adds nutrient value as feed improves pelletizing and provides flexibility in utilization and processing. It is often treated with a strong mineral acid and is converted into a crude mixture of fatty acids, known as acidified soap stock. This mixture is widely used as a calorific component in animal feed. However, factors such as increasing feed prices, food shortages, and shrinking water resources are likely to hinder the growth of the dried soap stock market in KSA. In addition, pure acid oil is cheap and acts as a good source of biodiesel. Both palmitic and stearic acids add hardness to soaps and is widely available in Saudi Arabia. The market for both the acids is expected to develop further in the future. Moreover, increasing concern towards prevention of various diseases coupled with low price of dried soap stock is likely to fuel the growth of this market in Saudi Arabia during the forecast period.

Due to increasing environmental concern, there is huge demand for eco-friendly, biodegradable products with natural ingredients. Thus, dried soap stock is likely to find extensive application in soaps and detergents. In addition, Consumers have strong hygiene habits and are focused on preventing the spread of virus and bacteria. Thus, there is huge demand for soaps and detergents in Saudi Arabia, which in turn is likely to accelerate the growth of the dried soap stock market. Furthermore, The market for soaps and detergents in Iran represents an enormous and developing market in the Middle East. The strength of the dried soap stock industry is demonstrated by strong growth in the production of surfactants, household detergents and other raw materials in recent years. Moreover, factors such as increased competition in the private sector, consumer demand, and favorable government policies have resulted in introduction of new products with significant improvements in quality and performance.

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Increasing Investment in Oil Industry Supports Middle East Edible Oil Co-Products and By-Products Market

"The increasing investments in the edible oil industry in the Middle East, resulting in a considerable increase in workforce, rising number of factories, and improvement in the overall manufacturing capacity, is the main factor that has been boosting the Middle East edible oil co-products and by-products market. The rising affluence of people residing in this region is also propelling the growth of this regional market remarkably, reports the research study.