Oleic Acid Market
Oleic Acid Market (Origin: Plant and Animal; Grade: Food, Pharmaceutical, and Technical; and End Use: Food & Beverages, Textiles & Leather, Cosmetics & Personal Care, Pharmaceuticals, Chemical Intermediates, Automotive, Paints & Coatings, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
Oleic Acid from Sheep Grass-fed Tallow Creates Opportunities to Develop COVID-19 Tablets
A proposed medicament has emerged as a solution to stop the spread of COVID-19 (coronavirus). Scientists and researchers are conducting a systematic review of a mixture of oleic acids extracted from cows and plants that can be fabricated to develop COVID-19 tablets and syrups. Interesting analogies of fatty acids in soap are being correlated with oleic acids, which are also a form of naturally occurring fatty acids. Since soap is a mixture of fatty acids used in cleaning and washing applications, manufacturers in the oleic acid market are capitalizing on the research on oleic acid tablets and syrups that hold promising potentials in curing the COVID-19 infection. Researchers are focused on acquiring oleic acids from cows and sheep grass-fed tallow and augment its medicinal uses in the form of tablets and syrups for curing the infection.
On the other hand, the COVID-19 has significantly impacted the chemical distribution sector. Supply chains have been disrupted. Order volumes for companies have also been adversely affected. Lockdown measures implemented by countries across the globe have significantly hampered the production cycles for commercial and industrial sectors. The COVID-19 pandemic has substantially impacted the global oleochemicals industry. This, in turn, has adversely affected the demand for oleic acid. Decrease in availability of labor, low production rates, and stockpiled inventory issues are estimated to significantly hamper the supply of oleic acid in the near future. A weakened consumer sentiment is likely to exacerbate the demand side of the global oleochemicals industry, including oleic acids, thus impacting the growth of the oleic acid market.
To gauge the scope of customization in our reports Ask for a Sample
High Olive Oil Consumption in Mediterranean Region and South Korea
Oleic acid is abundantly found in olive oil. This monounsaturated fatty acid (MUFA) is acquiring popularity, since it acts as a regulator of the body’s immune function. Moreover, oleic acid serves as a substitute to dietary saturated fat, which helps reduce the risks of cardiovascular diseases (CVD) in individuals. Thus, individuals with cholesterol issues are opting for olive oil, and companies in the oleic acid market are also increasing their production capacities of olive oil.
Food applications are the key revenue-generating sources for companies in the oleic acid market. Manufacturers are targeting customers in the Mediterranean region, as people here have a high intake of MUFA via olive oil. It has been found that the Hanwoo beef industry in South Korea is also inclining toward olive oil consumption, as their diet mainly contains saturated fatty acids that create health concerns for people. Oleic acid’s cholesterol-lowering benefits are being highly preferred by individuals with CVDs.
High Omega-6 Intake May Lead to Weight Gain and Obesity
Apart from olive oil, even sunflower oil is rich in oleic acid. However, high consumption of omega-6 content can lead to negative health outcomes such as weight gain and obesity. Hence, companies in the oleic acid market are educating their target customers about the right intake of sunflower oil to avoid risks of adverse health issues in individuals. Other food sources such as cheese, eggs, and macadamia oil are also rich in oleic acid. Thus, companies in poultry and dairy industry can capitalize on the need for food products high in oleic acid.
Cosmetics are another key application of fatty acids in the oleic acid market. Skincare brand Paula’s Choice is the flag-bearer of oleic acid in its cosmetic products, since it is a naturally occurring monounsaturated omega-9 fatty acid found in many plants including sea buckthorn, grape seeds, and olives.
Oleic Acid and Lipids Enhance Skin-calming Abilities of Personal Care Products
Increased customer inclination toward exotic plant-based products is creating value grab opportunities for manufacturers in the oleic acid market. New trends in the cosmetics industry are bolstering the growth of the oleic acid market, which is estimated to cross a revenue of US$ 400 Mn by the end of 2030. Since topical application of oleic acid alone can disrupt the skin’s barrier, cosmetic companies are blending oleic acid with other fatty acids to produce skincare products. These products are further leveraged with skin-beneficial ingredients that generate desirable outcomes in individuals after application.
Cosmetic companies are increasing their R&D efforts to combine oleic acid with other lipids to improve the skin-calming abilities of products. Customers with dry and sensitive skin are opting for skincare products involving oleic acid.
Get an idea about the offerings of our report from Report Brochure?
USP/NF Standards Set Benchmark for Oleic Acids Used in Pharmaceuticals
Companies in the oleic acid market are improving their distribution chains to offer halal-certified, and United States Pharmacopeia (USP) and the National Formulary (NF)-accredited ingredients to end users. For instance, Univar Solutions is offering a broad range of oleic acids made from a variety of feedstock that complies with the USP/NF standards. Manufacturers in the oleic acid market are tapping into incremental opportunities in therapeutics and the pharmaceutical industry to broaden their revenue streams.
Manufacturers are increasing the availability of oleic acids with varying iodine values to boost product uptake in the market. They are improving their production capabilities to offer private label oleic acids that meet specific requirements of end users. Companies are partnering with world-class suppliers and fleet owners to maintain stable supply chains with customers.
FMCG Products Offer Growth Opportunities for Stable Revenue Streams
FMCG products such as detergents, soaps, and liquid hand washes are creating stable revenue streams for manufacturers in the oleic acid market. Companies are further broadening their revenue streams by unlocking growth opportunities in maintenance products, printing inks, and cosmetics. As such, oleic acids function as intermediates for the synthesis of salts, esters, and dimer acids. In terms of production and consumption, Asia Pacific holds the lion’s share among all regions in the oleic acid market.
Significant increase in the global consumption of palm-based oleochemical products has catalyzed the demand for oleic acid. Fuels, lubricants, and petrochemicals hold lucrative growth opportunities for producers of fatty acids. As such, there is growing demand for naturally derived fatty acids sourced from vegetable origin such as palm, sunflower, and canola. Oleic acids resistant to oxidation and rancidity are being highly preferred by end users.
Looking for Regional Analysis or Competitive Landscape in Oleic Acid Market, ask for a customized report
Plant-derived fatty acids hold promising potentials in developing COVID-19 tablets and syrups. The concept of healthy fats via keto diet is increasingly capturing the attention of health-conscious individuals. However, the high consumption of omega-6 content from olive and sunflower oil can result in weight gain and obesity. Hence, companies should educate consumers about appropriate intake of oleic acids via edible oils with the help of engaging advertisements.
Manufacturers are increasing the availability of different grades of oleic acids that are kosher and halal-certified. They are increasing efforts to comply with the production standards set by the USP/NF in order to gain global recognition.
Oleic Acid Market: Overview
- In terms of value, the global oleic acid market is anticipated to expand at a CAGR of 3.5% from 2020 to 2030 and surpass US$ 400 Mn by 2030
- Fatty acids are largely derived from vegetable oils such as palm and coconut oil. Production of most fatty acids originates in Southeast Asia, particularly Malaysia, Indonesia, and the Philippines. Palm oil is the raw material used in the production of fatty acids in Malaysia and Indonesia, while coconut oil is primarily used in the Philippines.
- Conversion of waste palm oil into high-grade surfactants is estimated to be a key industry trend during the forecast period. Waste vegetable oils and their derivatives serve as sustainable, low-toxicity, and low-cost feedstock. Vegetable oil-derived oleochemicals are regarded as ideal substitutes for petroleum-based chemicals. Oleo-surfactants from vegetable oils, such as oleic acid have been gaining preference as alternatives to costlier and non-biodegradable petrochemical-based surfactants currently in usage.
- Development of value-added oleic acid derivatives and growth in investment in downstream applications of oleic acid are likely to offer lucrative opportunities for oleic acid manufacturers during the forecast period
Oleic Acid Market: Key Drivers and Restraints
- The global personal care industry is estimated to present substantial opportunities for the oleic acid market in the near future. For instance, the burgeoning personal care industry in Asia Pacific is anticipated to surpass US$ 120 Bn by 2025. Global demand for oleic acid in the cosmetics & personal care segment is expected to rise at a CAGR of 4% from 2020 to 2030.
- Replacement of saturated fats in the diet with oleic acid or other unsaturated fats contributes to the maintenance of normal blood cholesterol levels. High dietary oleic acid in olive oil-supplemented diet enhances omega-3 fatty acid in blood plasma.
- Oleic acid is a natural constituent of various food items, particularly vegetable oils. Consumption of food products enriched with oleic acid helps increase the level of oleic acid in human plasma membrane. Of late, there is a growing interest in understanding the biological role of monounsaturated cis-fatty acids, such as oleic acid, in regulating cell membranes and its effect on biological processes. Oleic acid is used in processed functional foods due to the beneficial health effects associated with its consumption.
Oleic Acid: Market Segmentation
- Based on origin, the global oleic acid market can be bifurcated into plant and animal. Of late, the demand for plant-based oleic acid has been rising globally. This trend is likely to continue during the forecast period.
- The global oleic acid market faces the threat of internal substitution of tallow or animal-based products by plant-based variants. Enhanced performance characteristics of plant-based products, rise in trend of veganism, and increase in consumption of vegetarian products are projected to drive the demand for plant-based oleic acid in the near future.
- Based on end use, the global oleic acid market can be classified food & beverages, textiles & leather, cosmetics & personal care, pharmaceuticals, chemical Intermediates, automotive, paints & coatings, and others
- Demand for natural personal care products has been rising in North America. Manufacturers are looking for techniques to produce personal care products from natural sources. The cosmetics & personal care segment is estimated to offer significant growth potential for the oleic acid market by 2030.
Asia Pacific to be Highly Lucrative Region of Oleic Acid Market
- Asia Pacific led the global oleic acid market in 2019. The region is estimated to contribute more than 50% share of the global oleic acid market by 2030.
- Demand for palm-based oleochemicals has been rising in Asia Pacific due to the vast range of applications that are possible with palm and palm kernel oil, owing to their versatile and durable chemical profiles. Driven by the green consumerism trend, the consumption of bio-based products and the impulse to go green are expected to gain significant momentum in the post COVID-19 pandemic era, particularly in Asia Pacific.
- Increase in demand for eco-friendly products is anticipated to present a brighter outlook for the oleochemicals industry in the near future. This, in turn, is likely to augment the demand for oleic acid in various end markets.
Oleic Acid Market: Competition Landscape
- The global oleic acid market was fragmented in 2019. This trend is projected to continue during the forecast period.
- Major players operating in the global oleic acid market include Wilmar International Limited, Emery Oleochemicals (M) Sdn Bhd., Oleon NV, Klk Oleo Sdn. Bhd., Godrej Industries (Chemicals), and VVF L.L.C.
Oleic Acid Market – Scope of the Report
A new study on the global oleic acid market was published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, trends, and challenges, as well as structure of the global oleic acid market. TMR’s study offers valuable information on the global oleic acid market in order to illustrate how growth would discern during the forecast period of 2020 to 2030.
Key indicators of market growth, which include value chain analysis as well as supply chain analysis and compounded annual growth rate (CAGR) have been elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth prospects of the global oleic acid market during the forecast period.
An extensive analysis of leading market players’ business strategies has also been featured in the TMR’s study on the global oleic acid market. This can help readers understand principal factors responsible for growth of the global oleic acid market. In this study, readers can also find specific data on avenues for qualitative and quantitative growth of the global oleic acid market, which would guide market players in making apt decisions in the near future.
Key Questions Answered in TMR’s Study on Oleic Acid Market
- What would be the Y-o-Y growth rate of the global oleic acid market between 2020 and 2030?
- What is the influence of changing trends in key end-use industries on the global oleic acid market?
- Would Asia Pacific continue to be the most profitable regional market for providers of oleic acid in the near future?
- Which factors would impede the global oleic acid market during the forecast period?
- Which are the leading companies in the global oleic acid market?
A unique research methodology has been utilized by TMR to conduct a comprehensive research on the global oleic acid market and arrive at conclusions on the growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.
Secondary sources referred to by analysts during the production of the report on the global oleic acid market include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the global oleic acid market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which served as a validation from leading players operating in the global oleic acid market. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global oleic acid market with accuracy. The study also uses a top-down approach to assess numbers for each segment and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on future prospects for the global oleic acid market more reliable and accurate.
Oleic Acid Market – Segmentation
TMR’s study on the global oleic acid market segments the market based on origin, grade, end use, and region. Changing market trends and other crucial market dynamics associated with these segments of the global oleic acid market have been discussed in detail.