Revenue generated from the PHO oils in Philippines is expected to reach US$ 45 Mn by 2031 from US$ 87 Mn in 2021, at a CAGR of -6.3% during the forecast period. Based on type, the soy oil in Philippines is anticipated to reach US$ 23.3 Mn by 2031 from US$ 49 Mn in 2021, at a CAGR of -7.5% during the forecast period.

Increase in Awareness about Healthy Food Products and Healthy Lifestyle

With rising awareness regarding healthy food products and healthy lifestyle, consumers are inclining toward healthy eating regimes. Due to growing health concerns associated with food ingredients and oil, the demand for alternatives are increasing. The PHO oil has a longer shelf life and other functional properties, which makes it popular among consumers. Besides functional properties of the PHO oil, it also contains a higher amount of unsaturated fatty acid, which increases the blood cholesterol levels in the human body. With concerns associated with the consumption of PHO oil, consumers are seeking non-PHO alternatives, which are free from trans-fat and free from other health hazardous compounds. Increasing awareness and healthy lifestyle of consumers are restraining the growth of the PHO oil market in the upcoming term of the year.

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Shifting Consumer Demand for Safety Assurance and Transparency

The current health trends have led to an increased concern regarding food safety with the regulation and international norm for food safety. Consumers today make informed decisions about products they are buying and are prone to seeking products that are safe and meet the higher regulatory standards. There is an increasing health concerns about partially hydrogenated oil, and trans-fat rises the level of lower density lipoprotein in the human body. The lower density lipoprotein is associated with a higher risk of strokes and diabetes. With increasing number of health concerns related to PHO oils, consumers are inclining toward the healthy alternative to PHO oils. Manufacturers are also reducing the production of the PHO oils, owing to government-imposed regulations regarding the PHO oil and reduce the trans-fat level in food products, which significantly contribute to the increasing demand for healthy alternatives for PHO oils in the market.

Reducing Use of PHO Oils in Food Industry and Food Products

Due to the rise in some fatal diseases caused as a result of consumption of fatty food products, concerned food safety authorities and organizations have been taking steps on limiting the use of trans-fatty acids in most food products that are being consumed. According to the WHO, every year, trans-fat intake leads to more than 500,000 deaths of people from cardiovascular diseases. Countries such as Austria, Denmark, Hungary, Iceland, Norway, Chile, Ecuador, and Singapore have limited industrially produced trans-fat content in all foods to 2% of fats and oils. Moreover, North American countries, i.e. the U.S. and Canada are set to implement nationwide bans on partially hydrogenated oils, which are considered as main sources of industrially-produced trans-fats. As a result, the implementation of stringent regulations for the elimination of trans-fat in food products and food industry is expected to hinder the growth of the PHO oils market.

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Challenges for PHO Oil Manufacturers

With rising health concerns and government regulations related to PHO oils, manufacturers are focusing on research & development activities to reduce trans-fat in fat oil and development of alternatives to PHO oils. The demand for non-partially hydrogenated oil (PHO) is increasing at a faster pace, due to the growing need for improved functionality and diversity in product offerings. The bakery industry across the globe is experiencing significant growth in terms of value, which is creating the demand for fats with improved texture, taste, and extended stability. Big manufacturers in oils and fats industries, such as Cargill Incorporated, offer a product portfolio that includes high-stability oils, hydrogenated fats, tropical oils, and customized blends. Baked products undergo a complex process to reach their final structure, flavor, and texture.

Philippines PHO Oils Market: Strategies

With increasing health concerns associated with the PHO oil, consumers are inclining toward refined or fully hydrogenated oil, which contains a lower amount of fats. With increasing demand for trans-fat-free oil, manufacturers are reducing the production of the PHO oils and focusing on trans-fat-free oils. Manufacturers are more focused on the research & development and advanced technologies to provide oils with value-added compositions. Manufacturers are also entering into strategic partnerships with players in similar scope to diversify their product portfolio and strengthen their global presence.
Philippines PHO Oils Market: Players

Some of the prominent market players in the Philippines PHO oils market are
Bunge Limited
Cargill Inc.
Archer-Daniels-Midland Company
AAK AB
Ventura Foods
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Unhealthy Consequences of PHOs Involving Bad Cholesterol Affect Market Growth

The revenue of Philippines PHO oils market is expected to decline from US$ 94.9 Mn in 2020 to US$ 45.5 Mn by the end of 2031. This is evident since most nutritionists tend to agree on unhealthy consequences of partially hydrogenated oils (PHO) or trans fats. PHO oil is found to increase bad cholesterol, while lowering good cholesterol, which increases the risk for heart diseases. Hence, companies should adapt their manufacturing capabilities for PHO-free alternatives such as palm kernel oil, since the latter provides similar structural integrity including PHOs.