Oleic Acid Market Size Will Attain USD 690 Million by 2030 Growing at 4.61% CAGR - Exclusive Report by Zion Market Research | Global Oleic Acid Market Size, Share, Trends Analysis Report
The global oleic acid market size was valued at USD 320 million in 2022 and is estimated to reach a value of USD 690 million by 2030, at a CAGR of approximately 4.61% between 2023 and 2030. The pharmaceutical, personal care, cosmetics, and food & beverage (F&B) industries are among the rapidly expanding end-user verticals that are driving growth in the global oleic acid market during the forecast period.
NEW YORK, United States, July 05, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled *“Oleic Acid Market Historical Data, and Forecasts Report 2023 – 2030”* in its research database. According to the latest research study, the global oleic acid market size was worth at USD 320 million in 2022 and it is expected to surpass a value of USD 690 million by 2030, registering a compound annual growth rate (CAGR) of approximately 4.61% during the forecast period 2023 to 2030.
The report analyzes the global oleic acid market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the oleic acid industry.
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*Oleic Acid Market Overview:*
Oleic acid is an omega-9 monounsaturated fatty acid. This indicates that its carbon chain contains one double bond, which is located nine carbons from the omega end. At ambient temperature, oleic acid is odourless, colourless, and viscous liquid. It is most commonly found in animals, as well as in olive oil, canola oil, avocados, nuts, and animal lipids, among other vegetable sources. Numerous health benefits make it incredibly essential to human health.
Years of research indicate that consuming oleic acid can help reduce inflammation. Additionally, it is known to reduce cholesterol levels and increase insulin sensitivity. It is widely used in the cosmetics and personal care industries as a source of ingredients that maintain healthy skin due to its exceptional moisturizing properties. The global oleic acid industry is a market that is developing steadily, and the growth outlook during the forecast period is optimistic.
*Oleic Acid Market: Growth Factors*
· *Growing end-user demand will drive market expansion*
Due to rising demand in end-user verticals like pharmaceutical, personal care, cosmetics, and food & beverage (F&B), the worldwide oleic acid market is predicted to rise fast during the forecast period. Oleic acid is utilized in salad dressings, sauces, and spreads due to its outstanding flavouring characteristics. It adds flavour and a buttery taste.
Since it can combine water and oil, oleic acid is also used as an emulsifier in the F&B business. It enhances food texture and consistency. The global industry's strong acceptance rate is also due to its nutritional benefits and use as a food processing equipment lubricant.
*Oleic Acid Market: Restraining Factors *
· *Raising raw material costs to limit market expansion*
The volatility of the primary materials is one of the most significant constraints in the oleic acid industry. Vegetable oils and animal fats are some of the primary ingredients used to produce oleic acid, and the market encircling these sources is highly volatile and unpredictable. This can have an effect on production costs and ultimately the price of oleic acid. In addition, increasing competition from cheaper and similarly performing alternatives, such as fatty acids and synthetic emulsifiers, is a further growth constraint.
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*Report Attribute* *Details*
Market Size in 2022 USD 320 Million
Projected Market Size in 2030 USD 690 Million
CAGR Growth Rate 4.61% CAGR
Base Year 2022
Forecast Years 2023-2030
Key Market Players Cargill, Inc., Wilmar International Ltd., IOI Oleochemical Industries Berhad, Procter & Gamble Co., BASF SE, Archer Daniels Midland Company, Emery Oleochemicals, Croda International Plc., Godrej Industries Ltd., Vantage Specialty Chemicals, Univar Solutions Inc.., Oleon NV, Jarchem Industries Inc., KLK Oleo, Kao Corporation, The Dow Chemical Company, Evonik Industries AG, Chemrez Technologies, Inc., Acme Synthetic Chemicals, Sea-Land Chemical Company, Cremer Oleo GmbH & Co. KG, Berg + Schmidt GmbH & Co. KG, Peter Cremer North America, A&A Fratelli Parodi Spa, and Pacific Oleochemicals Sdn Bhd.
Key Segment By End-User, By Origin, By Grade, and By Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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*Oleic Acid Market: Segmentation **Analysis*
The global oleic acid market is segmented based on end-user, origin, grade, and region.
Textiles & leather, food & beverages, pharmaceuticals, cosmetics & personal care, automotives, paints & coatings, and others are the market segments based on end-user. In 2022, the cosmetics and personal care industry experienced the greatest expansion on the global market, followed by the food and beverage sector. In the former market, oleic acid's exceptional cosmetic properties have led to its widespread use as an emollient, surfactant, and moisturizing agent. It is utilized in numerous products, including lotions, creams, shampoos, and detergents. In addition, oleic acid is regarded as a crucial component when used as an emulsifier because it directly affects product consistency. According to a report published by Statista in 2020, over 34% of female respondents claimed to use luxury skin care products.
Based on origin, the global market for oleic acid is divided into animal-based and plant-based segments.
The global market is segmented by grade into technical, pharmaceutical, and food. The technical grade dominated the segment share in 2022, followed by the pharmaceutical grade and the food grade. Industrial applications for oleic acid of technical grade include the production of lubricants, detergents, and metalworking fluids. They are also used as basic materials in the production of biodiesel.
Due to its low impurity and high purity levels, pharmaceutical grade oleic acid is utilized in the production of oral and topical medications. Food-grade oleic acid is used as an ingredient in margarine, bakery products, and munchies, among others. During the 2019-2022 fiscal year, Australia's pharmaceutical industry was valued at AUD 5.7 billion.
The global Oleic Acid market is segmented as follows:
*By End-User*
· Textiles & Leather
· Food & Beverages
· Pharmaceuticals
· Cosmetics & Personal Care
· Automotives
· Paints & Coatings
· Others
*By Origin*
· Animal-Based
· Plant-Based
*By Grade*
· Technical
· Pharmaceutical
· Food
*Read More About This Premium Report Here* | *Oleic Acid Market By End-User (Textiles & Leather, Food & Beverages, Pharmaceuticals, Cosmetics & Personal Care, Automotives, Paints & Coatings, And Others), By Origin (Animal-Based And Plant-Based), By Grade (Technical, Pharmaceutical, And Food), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030*
*Competitive Landscape*
Some of the main competitors dominating the global Oleic Acid market include -
· Cargill Inc.
· Wilmar International Ltd.
· IOI Oleochemical Industries Berhad
· Procter & Gamble Co.
· BASF SE
· Archer Daniels Midland Company
· Emery Oleochemicals
· Croda International Plc.
· Godrej Industries Ltd.
· Vantage Specialty Chemicals
· Univar Solutions Inc..
· Oleon NV
· Jarchem Industries Inc.
· KLK Oleo
· Kao Corporation
· The Dow Chemical Company
· Evonik Industries AG
· Chemrez Technologies Inc.
· Acme Synthetic Chemicals
· Sea-Land Chemical Company
· Cremer Oleo GmbH & Co. KG
· Berg + Schmidt GmbH & Co. KG
· Peter Cremer North America
· A&A Fratelli Parodi Spa
· Pacific Oleochemicals Sdn Bhd
*Key Insights from Primary Research**:*
· As per the analysis shared by our research analyst, the global oleic acid market is estimated to grow annually at a CAGR of around 4.61% over the forecast period (2023-2030)
· In terms of revenue, the global oleic acid market size was valued at around USD 320 Million in 2022 and is projected to reach USD 690 Million, by 2030.
· The global oleic acid market is expected to witness high growth during the forecast period owing to the increasing demand for the acid in several rapidly rising end-user verticals such as the pharmaceutical, personal care, cosmetics, and food & beverage (F&B) industry.
· Based on end-user segmentation, cosmetics & personal care was predicted to show maximum market share in the year 2022
· Based on grade segmentation, technical was the leading grade in 2022
· On the basis of region, North America was the leading revenue generator in 2022
*Have Any Query? Ask Our Experts:* https://www.zionmarketresearch.com/inquiry/oleic-acid-market*Key questions answered in this report:*
· What is the market size and growth rate forecast for Oleic Acid industry?
· What are the main driving factors propelling the Oleic Acid Market forward?
· What are the leading companies in the Oleic Acid Industry?
· What segments does the Oleic Acid Market cover?
· How can I receive a free copy of the Oleic Acid Market sample report and company profiles?
*Key Offerings:*
· Market Size & Forecast by Revenue | 2023−2030
· Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
· Market Segmentation – A detailed analysis By End-User, By Origin, By Grade, and By Region
· Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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*Regional Analysis**:*
· *North America will experience enormous growth returns*
Due to the high demand for oleic acid in end-user industries such as food and beverage, cosmetics and personal care, and pharmaceuticals, North America is anticipated to experience the highest growth rate in the global oleic acid market. The United States is expected to have the highest growth rate, followed by Mexico and Canada.
Due to the increasing use of oleic acid in Europe's thriving food & beverage industry as well as its dominant cosmetics sector, the continent is projected to be the second-highest revenue generator. Europe has long been a leader in the development of innovative personal care and cosmetics. It contains some of the largest firms in the industry. High demand from the cosmetics and personal care industry, as well as the region's expanding population, are expected to propel Asia-Pacific's economic expansion. India, China, and Japan are the region's largest consumers of oleic acid.
*By Region*
· North America
· U.S.
· Canada
· Rest of North America
· Europe
· France
· UK
· Spain
· Germany
· Italy
· Rest of Europe
· Asia Pacific
· China
· Japan
· India
· South Korea
· Rest of Asia Pacific
· The Middle East & Africa
· Saudi Arabia
· South Africa
· Rest of the Middle East & Africa
· Latin America
· Brazil
· Argentina
· Rest of Latin America
*Recent Developments*
· In March 2019, The International Service for the Acquisition of Agri-biotech Applications (ISAAA), a non-profit international organization that deals with new technologies related to bioscience, announced the availability of gene-edited soyabean oil with high oleic content in the US market. The soybean oil is known as Calyno and has been developed by experts at Calyxt, Inc
· In May 2021, Calyxt, Inc which is a technology company that used plants as its resource, announced that its range of premium high oleic low linolenic (HOLL) soybean oil traits has crossed all expectations in the premium oil market. Preliminary composition analysis has proven that the company’s product is the best option available in the commercial market
*To know an additional revised 2023 list of market players, request a brochure of the report:* https://www.zionmarketresearch.com/requestbrochure/oleic-acid-market*FREQUENTLY ASKED QUESTIONS*
· What is oleic acid?
· Which key factors will influence oleic acid market growth over 2023-2030?
· What will be the value of the oleic acid market during 2023-2030?
· What will be the CAGR value of the oleic acid market during 2023-2030?
· Which region will contribute notably towards the oleic acid market value?
· Which are the major players leveraging the oleic acid market growth?
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