Global Oleic Acid Market Overview
Oleic acid is a widely used ingredient in a number of foods in the form of triglycerides as animal fat or vegetable oil. Oleic acid is also a popular ingredient in a number of industrial applications as a sealant, lubricant, emulsifier, surfactant, and protective coating in rubber, textile, oil & gas, FMCG, and pharmaceutical industry settings. Favorable regulations by numerous governments towards the incorporation of bio-based chemical compounds is expected to support the rise of the market in the foreseeable future, despite the threat of the COVID-19 pandemic.
The global oleic acid market is projected to reflect a moderate CAGR of over 3% over the years 2020 to 2030. For this duration, a substantial amount of sales for the material is expected to be in the cosmetics and personal care industry, which will display a relatively faster growth rate than the global average.
Oleic Acid Market Insights by Origin
The global oleic acid market can be largely classified in terms of grade into food, pharmaceutical, and technical. These products can be derived from both, animal and plant sources. Oleic acid from animal sources are expected to hold a larger market share during the forecast period of 2020 to 2030.
However, demand for plant-based options are likely to reflect a faster growth rate, supported by rapidly growing population of vegans and vegetarians. In addition, plant-based oleic acid also finds acceptance in applications governed by social regulations such as halal and kosher products, which will bolster the expansion of the oleic acid market size over the coming years.
Technical and food grade oleic acid are projected to display higher demand on the back of applications in rubber, textiles, and food processing. However, niche applications in the pharma industry as an excipient will drive lucrative opportunities for the oleic acid market in the long term.
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Oleic Acid Market Insights by End Use
The cosmetics industry is expected to be a major contributor to the global demand for oleic acid, owing to extensive applications in toiletries and cosmetic products, including skin care and cleansing creams. The global personal care and cosmetic industry’s demand for oleic acid will rise at a 4% CAGR during the forecast period.
Oleic acid is also expected to find lucrative niche applications of drilling and exploration in the oil & gas sector. The food & beverage industry is also a major consumer of oleic acid, especially in terms of dietary supplements and functional foods and beverages, and as emulsifiers and stabilizers in a wide range of formulations. Demand from the textiles and leather industry will also bolster the oleic acid market in the short term, with growing applications of oleic acid as scouring, wetting, emulsifying, and dispersal agents.
Regional Outlook of Oleic Acid Market
The Asia Pacific region has a major oleic acid market share, and is projected to account for more than half of the global market share. Growing sales of specialty products in food, personal care, and pharmaceuticals in the region, particularly in India and China, is expected to sustain market growth throughout the forecast period.
Strict measures taken by governments in the region to control the coronavirus pandemic are likely to aid the market towards a faster recovery in 2021. Furthermore, the Asia Pacific oleic acid market will also benefit substantially by easy access to major raw material sources, particularly for plant-based variants.
Developed regions, such as those in North America and Europe are also expected to reflect steady growth in the near future, supported by pharma and personal care applications, and favorable regulations associated to the incorporation of bio-based chemicals.
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Oleic Acid Market: Key Strategies
The global oleic market is largely fragmented in nature, with the presence of numerous regional and local players in the industry. However, major manufacturers in the oleic acid market continue to hold substantial market share. Oleic acid manufacturers are largely focused on investments towards research to explore and expand the scope of applications in multiple end-use industries and consumer demographics.
- For Instance, Eastman Chemical Company introduced its high purity, non-animal kosher oleic acid, under compliance with the regulations of the U.S. Food and Drug Administration, aimed primarily towards human consumption, but also suited for adhesives, inks, coatings, and detergents.
- Wilmar International Limited has also revealed trials towards the use of oleic acid supplementation in animal feed formulations, aimed towards lactating cows to improve on dairy performance, in terms of milk yield, fat content, fertility, and body condition parameters.
- Other major players in the oleic acid market include Recochem Inc., Twin Rivers Technologies Inc., Kraton Corp., White Group Public Co. Ltd., Oleon NV, Emery Oleochemicals (M) Sdn Bhd, and Univar Solutions Inc., among others.
COVID-19 Impact on Oleic Acid Market
The coronavirus pandemic has had a moderately negative impact on the global oleic acid market. The imposition of lockdown restrictions, and the resultant impact on the supply and distribution channel, has become a concern for the short term. Further, restricted activities in multiple end-use industries are also moderately limiting demand. Other issues during the COVID-19 pandemic affecting the oleic acid market include growing inventories, restrained global production rates, concerns over health concerns at production facilities, and also a shortage of manpower in the industry.
On the other hand, demand for oleic acid in healthcare applications, including drug development for COVID-19, is expected to generate lucrative short-term opportunities for manufacturers. Further, demand for personal care and FMCG products and stockpiling behavior of consumers during this global crisis has contributed significantly to the industry, and is expected to aid a faster recovery in 2021.
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The Analyst’s Viewpoint
“Recent introduction of halal and kosher grade oleic acid is projected to generate new opportunities of sales in markets of the Middle East and Africa, which is projected to reflect steady growth of the oleic acid market through 2030.”
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Oleic Acid Market: About the Report
Fact.MR has recently published a forecast report on the oleic acid market for the period of 2020 to 2030. The primary aim of the study on the oleic acid market is to provide readers with actionable insights on the market landscape, with emphasis on technological advancements and demand generators in the sector.
The oleic acid market report starts off with an executive overview, which also encompasses details on product definition. The report also provides information on the taxonomy of the oleic acid market, with details on key segments. Further, the report outlines major insights on market dynamics, including the drivers, restraints, opportunities, and trends, in addition to pricing analysis and other crucial buying factors for oleic acid.
Also, data on supply chain analysis and factors affecting oleic acid grades as per end use has been included, enabling readers to gain better understanding about the mapping of the product framework in the oleic acid market landscape.
Oleic Acid Market: Segmentation
Fact.MR has analyzed the global oleic acid market with detailed segmentation in terms of origin, grade, end use, and region.\
- Food & Beverages
- Textiles & Leather
- Cosmetics & Personal Care
- Chemical Intermediates
- Paints & Coatings
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
"This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”
Oleic Acid Market: Scope Of The Report
A new report by Fact.MR on the global oleic acid market provides insights for a 10-year forecast for 2020 and 2030. The study scrutinizes major trends that influence the growth of the global oleic acid market. This report goes into details on crucial dynamics, such as the drivers, restraints, opportunities, and threats for key market players in addition to key stakeholders and new market participants associated with the production of oleic acid. The study also covers the dynamics that are likely to affect the future status of the global oleic acid market.
A detailed study of the oleic acid value chain analysis, supply chain analysis, and business execution strategies across regional markets has been covered in the report. A list of leading companies operating in the global oleic acid market in addition to their details on production capacity bolsters this exhaustive research study.
Oleic Acid Market: Report Summary
The report provides an in-depth analysis on varying features, such as product developments, demand, sales, and revenue generation in the global oleic acid market.
An estimate on the oleic acid market has been provided on the basis of optimistic and conservative scenarios, covering for the sales of oleic acid during the assessment period. A comparison of price points for each region with global average price has also been considered in the study.
Oleic Acid Market: Analysis of Market Size
The global oleic acid market has been analyzed for every market segment in terms of value (US$ Mn) and volume (Tons).
Market value estimates for oleic acid at global and regional levels are provided in terms of “US$ Mn” for value and “Tons” for volume. A Y-o-Y growth analysis on leading global oleic acid market segments, in addition to an evaluation on market attractiveness, has been added to the report. Further, absolute $ opportunity analysis of every segment is added to the report, playing an important role in assessing the level of opportunity that manufacturers and distributors seek, along with potential resources, covering sales and distribution in the global oleic acid market.
Oleic Acid Market: Assessment of Regional Segments
The global oleic acid market report has provided projections on regional markets. These segments include macros (economic, political, and business environment), which are likely to strongly influence the growth of global oleic acid market for the duration of the forecast period.
Country-specific evaluation for oleic acid has been given for each regional market, in addition to estimates and forecasts on market scope for price index, and impact analysis of influencers of key regions. For all regional markets, Y-o-Y growth estimates have been incorporated in the report.
A detailed breakup for volume and value for emerging markets has also been added in the report.
Oleic Acid Market: In-depth Analysis on Competitive Landscape
The report provides key details on prominent manufacturers in the global oleic acid market, with in-depth profiles. Important and up-to-date data associated with market participants who are engaged in the production of oleic acid has been provided with a detailed dashboard view. Market share analysis and a comparison of prominent players enables report readers to take informed decisions in bolstering their businesses.
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