Oleic Acid Market Report
Oleic Acid Market by End-use Model (Food & Beverages, Pharmaceutical, Soaps & Detergents, Personal Care & Cosmetics, Textile, Lubricants, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Oleic Acid Overview
Oleic acid is a kind of fatty acid that can be found in a variety of vegetable oils including sunflower, canola, and olive oils. It is a particular kind of fatty acid that is frequently present in different plant and animal oils. It is a saturated fat which implies that its molecular structure only has one double bond. Oleic acid is used extensively in several sectors according to the market overview, because of its capacity to build lather and give moisturizing characteristics. It is extensively used in the creation of soaps and detergents and cosmetics, it is also employed as an emulsifier, aiding in the mixing of oil and water-based substances in food as well as personal care products. Additionally, oleic acid has applications in the pharmaceutical sector as an excipient or a carrier for some drugs. It can improve medication absorption and stability.
Global Oleic Acid Market Analysis
The global oleic acid market size was $290.2 million in 2022 and is predicted to grow with a CAGR of 4.7%, by generating a revenue of $456.3 million by 2032.
COVID-19 Impact on Global Oleic Acid Market
The COVID-19 pandemic has had a significant impact on oleic acid market. Due to the global health crisis, various industries were affected, including the production and demand for oleic acid. Production decreased as a result of the supply chain disruptions and industrial process disruptions brought on by the lockdowns and limitations imposed by various nations, oleic acid became rare as a result which had an impact on the marketability of the product. Moreover, the pandemic also affected the demand for oleic acid as several industries, such as automotive, aviation, and cosmetics, experienced a significant decline. Reduced travel and lockdown measures led to decreased demand for aviation fuels and automotive lubricants, which are major applications of oleic acid. Additionally, the cosmetic industry faced challenges as consumers reduced their spending on non-essential products, including skincare and personal care items that contain oleic acid. This decline in demand further impacted the oleic acid market.
However, it's important to note that the impact of COVID-19 on the oleic acid market varied across different regions and industries. Some sectors, like food and pharmaceuticals, experienced stable or increased demand for oleic acid due to its use in food additives and pharmaceutical formulations.
The Health Benefits Associated with Oleic Acid to Drive the Market Growth
Monounsaturated fatty acids like oleic acid are good for the heart. The risk of heart disease can be decreased by lowering levels of bad cholesterol (LDL) and raising levels of good cholesterol (HDL), it has anti-inflammatory qualities that can help lessen inflammatory reactions in the body and ease arthritis-related symptoms. By encouraging the growth and upkeep of healthy brain cells oleic acid contributes to brain health. It contributes to the production of myelin which shields and insulates nerve fibers, it facilitates the body's effective usage of fat-soluble vitamins including vitamin A, D, E, and K by assisting in their absorption. Because of its ability to moisturize oleic acid is frequently used in skincare products, it keeps the skin moisturized and supple by assisting in maintaining its moisture barrier. By aiding in nutrition absorption and encouraging an easy digestive process it supports a healthy digestive system, oleic acid has been associated with a decreased risk of several cancers including breast cancer and by preventing cancer cells from proliferating, it displays potential anticancer effects. Moreover, it aids in weight management because it can boost satiety signals and curb cravings, which can help limit calorie intake. Oleic acid is ideal for cooking and frying since it is stable at high temperatures.
Potential Risks of Excessive Oleic Acid Consumption to Restrain the Market Growth
When consumed in excess, foods high in oleic acid can cause weight gain if they are not balanced with a healthy diet and frequent exercise. Oleic acid is a nutrient that is high in calories, although it is monounsaturated and thus considered heart healthy. Ingesting too many high-fat meals can result in elevated levels of low-density lipoprotein cholesterol, which may increase the risk of cardiovascular disease and also a high-oleic acid diet may cause the body to undergo increased oxidative stress, which might harm cells and ultimately result in a multitude of health problems. Some individuals may experience digestive discomfort and bloating, or diarrhea when consuming high amounts of oleic acid, especially if they are not accustomed to it, although rare some people may have allergies to oleic acid or foods rich in this fatty acid leading to allergic reactions, such as skin rashes & hives or gastrointestinal issues.
Advancements in Oleic Acid to Drive Excellent Opportunities for Future
Researchers have also discovered ways to improve oleic acid's nutritional value, they have discovered methods to raise the amount of omega-3 fatty acids which are well-known for their range of health advantages. Consumers now have a better alternative due to this improved oleic acid, which also benefits general health. Aside from these advancements scientists have discovered ways to change the structure of oleic acid resulting in derivatives with improved qualities, these derivatives may be more soluble and have more antioxidant power or even have certain characteristics that make them appropriate for specialized uses in industries like biotechnology and materials science and medicines. Overall, the future upgrades in oleic acid focus on improving its stability, nutritional value, and versatility, leading to a wider range of applications and better health outcomes for consumers are the factors projected to create massive growth opportunities for the oleic acid market during the forecast period.
Global Oleic Acid Market Share, by End-use, 2022
The personal care & cosmetics sub-segment accounted for the highest market share in 2022. Oleic acid is most frequently used in personal care products and cosmetics since it has properties that are beneficial for our skin and hair. Oleic acid is a fatty acid that can help repair damaged hair and nourish and hydrate the skin, leaving it silky and smooth, its ability to improve the texture and appearance of our skin and hair makes it a popular ingredient in the personal care and cosmetics industry. The growing demand for organic and anti-aging products to maintain a youthful appearance is driving the demand for personal care products, which, in turn, is expected to trigger the demand for oleic acid in the personal care & cosmetics sub-segment.
Global Oleic Acid Market Share, by Region, 2022
The Asia-Pacific oleic acid market generated the highest revenue in 2022. The Asia Pacific region has a large population and a booming economy which has increased demand for products that contain oleic acid. Oleic acid is furthermore produced and exported in large amounts by a number of Asian countries making it easily accessible and competitively priced for enterprises in the region, due to the region's widespread consumption and accessibility of oleic acid it has therefore become the main market there.
Competitive Scenario in the Global Oleic Acid Market
Agreement and investment are the common strategies followed by the major market players. Some of the top leading oleic acid market players are AkzoNobel N.V., BASF SE, Emery Oleochemicals, Vantage Specialty Chemicals, KLK Oleo, IOI Oleochemicals, and Shuangma Chemical.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, and LAMEA
Segmentation by End-use
Key Companies Profiled
Q1. What is the size of the global oleic acid market?
A. The size of the global oleic acid market was over $290.2 million in 2022 and is projected to reach $456.3 million by 2032.
Q2. Which are the major companies in the oleic acid market?
A. AkzoNobel N.V., BASF SE, Emery Oleochemicals, Vantage Specialty Chemicals, KLK Oleo, IOI Oleochemicals., and Shuangma Chemical.
Q3. What are the strategies opted by the leading players in this market?
A. Agreement and investment are the two key strategies opted for by the operating companies in this market.
Q4. Which companies are investing more on R&D practices?
A. AkzoNobel N.V., BASF SE, and Shuangma Chemical are the companies investing more on R&D activities.