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Food Grade Mineral Oil Market Segmented By application such as Food & Beverages (Medical Nutrition, Sports Nutrition, Fortified Dairy & Beverages, Bakery Products), Dietary Supplements, Biomedicine, Textile, Cosmetics, Pharmaceutical OTC Drugs
Often accredited as ‘white oil’ and ‘liquid paraffin’, food grade mineral oil is a refined product from a non-vegetable mineral sources such as petroleum or it is a mixture of middle spectrum alkanes.
Over the time , these oils goes through a complex process that leads to molecules binding together to form larger molecular chains. Industrially, these oils have an inferior value when compared to other derivative which are obtained by distilling petroleum.
The global market is classified into three collections namely, Paraffinic oils which are composed of n-alkanes, Naphthenic oils mainly composed of cyclo-alkanes and Aromatic oils composed of aromatic hydrocarbons.
It is colourless and odourless and is often used as a lubricant, laxative and moisturizer. It also finds itself in numerous petroleum based products related to food, biomedicine, pharmaceuticals and cosmetics. This market with its diversified approach and demand in the global market is expected to gain development during the period of 2018 to 2028.
The thriving demand for revision of food products owing to the increasing disposable income and changing lifestyle of the majority of the global population is expected to encourage the market. With approval from WHO (World Health Organization) and FDA (Food and Drug Administration) for it to be used in food preparation is expected to drive this market in the developing countries.
Conjointly, the increasing demand for baby oils and lotions in materializing economies such as China, India, Canada and Denmark, owing to the heightened awareness for personal care is expected to surge the global market in these provinces. However, volatility of crude oil prices and toxicity of unprocessed oil have remain the primary restraints for this market.
Increasing end user industries in emerging economies in Latin America and Asia Pacific such as Singapore, Malaysia, Brazil, India and China have organized several opportunities for this market. With the maturing use of high end mineral oil for production in biomedicine is anticipating newer opportunities for this market during the period of 2018 to 2028. This will further be increased with the ascending medical services in states such as India, Singapore and Hong Kong.
At the present scenario, North America has appeared as the largest regional market of this due to the always increasing demand of this for the food industry. WHO’s and FDA approval for adopting to use this in the food industry is expected to further increase the demand.
Some of the major players in these market are: