The global oleic acid market is expected to surpass US$ 400 Mn by 2031, expanding 1.4x from 2020. The global oleic acid market is being driven by rising demand from end-use sectors such as cosmetics and personal care, pharmaceuticals and food, and so on.
Key Points Addressed in Oleic acid Industry Analysis
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Oleic Acid Industry and How to Navigate
- Recommendation on Key Winning Strategies
Oleic Acid Consumption Analysis 2016-2020 Vs Future Outlook 2021-2031
According to Fact.MR- a market research and competitive intelligence provider- demand for oleic acid surged by less than 3% CAGR from 2016 to 2020. The market expanded to conclude at a value of US$ 290 Mn by the end of the aforementioned period.
The worldwide oleic acid market is expected to grow at a modest CAGR of more than 3% between 2021 and 2031. During this time period, a significant portion of the material's sales are projected to be in the cosmetics and personal care industry, which is expected to expand at a higher rate than the world average.
How is Olive Oil Usage Widening Popularity of Oleic Acid Consumption?
Olive oil contains a lot of oleic acid. Olive oil is gaining popularity as it regulates immunological functions of the human body. Furthermore, oleic acid acts as a replacement for dietary saturated fat, lowering the risk of cardiovascular disease (CVD) in individuals.
As a result, people with high cholesterol are turning to olive oil, and firms in the oleic acid industry are boosting their olive oil manufacturing capacity. Food applications are the most important income generators for firms in the oleic acid industry. Manufacturers are focusing on clients in the Mediterranean area, where people consume a lot of monosaturated fatty acids (MUFA) through olive oil.
It has been discovered that the Han Woo beef sector in South Korea is leaning toward olive oil use, as their diet is high in saturated fatty acids, which are harmful to people's health. Individuals with CVDs prefer oleic acid for its cholesterol-lowering properties.
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How are Obesity Concerns Enabling a Switch to Oleic Acid?
Excessive omega-6 intake can result in unfavorable health consequences such as weight gain and obesity. Hence, consumers are shifting towards consuming oleic acid rich oils. Aside from olive oil, sunflower oil is also high in oleic acid.
Consequently, manufacturers are educating their target consumers about the proper use of sunflower oil in order to reduce the risk of unfavorable health concerns in individuals. Other foods high in oleic acid include cheese, eggs, and macadamia oil. As a result, firms in the poultry and dairy industries may benefit on the demand for oleic acid-rich food items.
Oleic Acid from Grass-fed Sheep Tallow Creates Possibilities for COVID-19 Tablet Development?
A suggested medication has surfaced as a possible approach to halt the spread of COVID-19. A comprehensive evaluation of a combination of oleic acids derived from cows and plants that can be manufactured to create COVID-19 tablets and syrups is being conducted by scientists and researchers.
Fatty acid similarities in soaps are being connected with oleic acids, which are likewise a kind of naturally occurring fatty acid. Because soap is a fatty acid combination used in cleaning and washing applications, producers in the oleic acid market are profiting on research on oleic acid pills and syrups that have intriguing potentials for treating the COVID-19 infection.
Researchers are concentrating on obtaining oleic acids from grass-fed tallow from cows and sheep and enhancing its therapeutic applications in the form of pills and syrups for treating the illness.
An Adaptive Approach to Modern-day Research Needs
Which are some Primary Application Areas of Oleic Acid?
Oleic acid is also likely to find profitable niche applications in oil and gas drilling and exploration. The food and beverage sector also consumes a significant amount of oleic acid, particularly in dietary supplements and functional foods and drinks, as well as emulsifiers and stabilizers in a variety of formulations.
In the medium term, demand from the textile and leather industries will support the oleic acid market, with increasing uses of oleic acid as scouring, wetting, emulsifying, and dispersing agents.
What makes Asia a Dominant Market for Oleic Acid?
The Asian region dominates the global market for oleic acid in terms of production and consumption. Due to abundant natural raw resources, such as vegetable oils and fats, ASEAN nations such as Malaysia, Indonesia, Thailand, and others will collectively generate 50% of overall demand.
Furthermore, the increasing personal care, cosmetics, pharmaceutical, and food industries in APAC, particularly in China and India, have resulted in higher demand for oleic acid, and the APAC oleic acid market is anticipated to rise at a healthy rate throughout the forecast period.
How Lucrative is the Market in the U.S?
The U.S is one of the largest consumers of oleic acid, accounting for 40% of the global demand. Government initiatives to promote sustainability and the use of bio-based compounds, is spurring this increase across North America.
Natural personal care products are becoming increasingly popular in North America. Manufacturers are on the lookout for methods to create personal care products from natural sources. By 2030, the cosmetics and personal care category is expected to provide substantial development potential for the oleic acid market.
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How Cosmetic Industry's Demand for Oleic Acid is dominating the market?
Because of its broad uses in toiletry and cosmetic goods, such as skin care and cleaning creams, the cosmetics sector is projected to be a key contributor to global demand for oleic acid.
During the projected period, the worldwide personal care and cosmetic industry's demand for oleic acid will increase at a CAGR of 4%.
How are Oleic Acid Formulations being incorporated in Skincare Products?
Customers' increased preference for exotic plant-based products is providing value grab possibilities for producers in the oleic acid industry. New trends in the cosmetics sector are fueling the expansion of the landscape.
Because topical oleic acid treatment alone cannot penetrate skin barriers, cosmetic businesses are combining oleic acid with other fatty acids to create skincare solutions. These products are enhanced with skin-beneficial substances that provide favorable results in persons following use.
Cosmetic firms are expanding their research and development efforts to mix oleic acid with other lipids to increase the skin-calming effects of their products. Customers with dry or sensitive skin choose oleic acid-containing skincare products.
The worldwide market for oleic acid is highly fragmented, with several regional and local firms operating in the industry. However, large oleic acid producers continue to maintain a sizable market share. Players are primarily focused on research to discover and extend the spectrum of uses in a variety of end-use sectors and customer demographics.
- For example, Eastman Chemical Company released their high quality, non-animal kosher oleic acid in accordance with U.S Food and Drug Administration requirements, primarily for human consumption but also suitable for adhesives, inks, coatings, and detergents.
- Wilmar International Limited, Recochem Inc., Twin Rivers Technologies Inc., Kraton Corp., White Group Public Co. Ltd., Oleon NV, Emery Oleo chemicals (M) Sdn Bhd, and Univar Solutions Inc. are among the other prominent competitors in the oleic acid industry.
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered
- Plant-based Oleic Acid
- Animal- based Oleic Acid
- Food Grade Oleic Acid
- Pharmaceutical Grade Oleic Acid
- Technical Grade Oleic Acid
- Oleic Acid for Food & Beverages
- Oleic Acid for Textiles & Leather
- Oleic Acid for Cosmetics & Personal Care
- Oleic Acid for Pharmaceuticals
- Oleic Acid for Chemical Intermediates
- Oleic Acid for Automotive
- Oleic Acid for Paints & Coatings
- Oleic Acid for Other End Uses
- FAQs -
In 2020, the global market for oleic acid was worth US$ 290 Mn.
From 2021 to 2031, the worldwide oleic acid market is anticipated to rise at a modest CAGR exceeding 3%.
New cosmetics trends are driving the growth of the oleic acid market, which is expected to exceed US$ 400 Mn by 2031.
Rising demand from end-use sectors such as cosmetics and personal care, pharmaceuticals and food, and so on is driving the worldwide oleic acid market.
Eastman Chemical Company, Berg + Schmidt, VVF L.L.C., Klk Oleo Sdn. Bhd. and Emery Oleo chemicals (M) Sdn Bhd. hold 60% of overall revenue
South Korea, China, Philippines, the U.S and the U.K are top 5 countries influencing oleic acid demand
The U.S is anticipated to account for 40% of total oleic acid demand in North America
Oleic Acid is going to register moderate growth in Europe with a significant CAGR of 3%.
According to Fact.MR, demand for oleic acid in Asia is expected to account for 50% of global demand
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