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Global Oleic Acid Market Overview
The major trend identified in the global oleic acid market is the increasing use of oleic acid for healthcare purposes. A number of researchers are actively engaged in finding optimum usage of oleic acid in curing several fatal diseases. For instance, oleic acid is used to reduce the risk of developing diabetes as it regulates insulin secretion and minimize blood sugar spikes. Moreover, oleic acid plays a protective role against cardiovascular insulin resistance and in early and late cellular atherosclerotic process.
Oleic acid is a monounsaturated omega-9 fatty acid, found commonly in plant and animal. Plant source includes soybean, palm, macadamia oil, and sunflower oil, while the animal source includes meat, egg, and many more. It is found highly beneficial in healthcare applications, such as treatment of cancer. The oleic acid market is segmented based on source, grade, application, end user, and region.
The oleic acid market based on source is bifurcated into plant and animal. The plant source category holds the larger market share due to rich number of plant source, such as palm oil, olive oil, and avocados. Further, the increasing adoption of becoming vegan and consumption of vegetarian food is expected to boost the demand for plant based oleic acid.
The oleic acid market in terms of grade is categorized into regular, food, and pharmaceutical. Among all, the regular grade category holds the notable share in the market, owing to the use of regular-grade oleic acid in various industries, such as cosmetic & personal care, textile, and oil & gas industries. Further, industries also prefer the usage of oleic acid produced from natural sources than other sources.
The market based on application is categorized into surfactant, emulsifying agent, lubricating agent, chemical intermediate, adhesive & sealant, and others. Together emulsifying and surfactant agents hold significant share in the market, owing to there large application in cosmetic & personal care, food & beverage, and pharmaceutical industries. For instance, it is use in the manufacturing of creams and lotions. Further, the increasing demand for cosmetic & personal care products due to growing consumer disposable income drives the growth of the oleic acid market.
The oleic acid market in term of end user is categorized into cosmetic & personal care, pharmaceutical, textile, food & beverages, chemical, and others. Among these, the cosmetic & personal care industry holds the considerable share in the market, owing to rising population that generates high demand for grooming products. Moreover, the food and beverages industry also drives the market significantly, owing to the increasing demand for functional food and dietary supplements.
Geographically, the oleic acid market is categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA). Among these, APAC holds the substantial share in the market due to rapid expansion of several industries, such as cosmetic & personal care and pharmaceutical, in the economies like China, India, and Indonesia. Further, government approval to use oleic acid in food & beverage industry also boosts the demand for oleic acid. For instance, in November 2018, the Food and Drug Administration (FDA) approved the qualified health claims for oleic acid, which suggest that consuming oleic acid in edible oils, such as sunflower oil, canola oil, and olive oil help reduce the risk of coronary heart disease.
Oleic Acid Market Dynamics
The growing demand for products from various end-use industries, such as cosmetic & personal care, pharmaceutical, and food & beverages, is one of the major factors that drives the market. Further, government regulations to promote the use of bio-based compounds for the manufacturing of products have also helped to boost the market demand for oleic acid.
The availability of substitute products, such as lauric and palmitic acids, in the cosmetic & personal care industry hampers the growth of the oleic acid market. Further, the changing climate conditions also affect the availability of natural resources, which, in turn, impacts the oleic acid production.
Oleic Acid Market Competitive Landscape
Some of the major companies operating in the global oleic acid market are Eastman Chemical Company, Berg + Schmidt GmbH & Co. KG, VVF LLC, KLK OLEO, Emery Oleochemicals Group, Wilmar International Limited, Oleon NV, White Group Public Co. Ltd., Croda International Plc, and Kraton Corporation.
The study provides the detailed study of the oleic acid market for the period 2014–2030. The major countries covered for the analysis are the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, South Korea, Brazil, Argentina, Saudi Arabia, and South Africa.
Oleic Acid Market Size Breakdown by Segment
The oleic acid market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Source
Based on Grade
Based on Application
Based on End User