The global Oleic Acid market stood at approximately 340 thousand tonnes in 2023 and is anticipated to grow at a CAGR of 4.5% during the forecast period until 2034.
Oleic acid, a monounsaturated omega-9 fatty acid, boasts a wide array of commercial applications owing to its versatile attributes. It serves as a pivotal ingredient in the formulation of soaps and detergents, acting as an effective surfactant for grease and dirt removal. Within the cosmetics and personal care sector, oleic acid is harnessed for its emollient properties, enriching skincare products like lotions and creams with moisturizing benefits. Additionally, it holds significance in pharmaceutical formulations, functioning either as an excipient or a constituent in topical medications. In the culinary realm, oleic acid is a prevalent component of cooking oils such as olive oil, enhancing both Flavors and nutritional value. oleic acid plays a significant role as a key constituent in health-conscious options such as olive oil, canola oil, and sunflower oil, enhancing their texture and taste. Additionally, it serves as a functional ingredient in various food additives like margarine, shortening, and bakery items, contributing to properties such as emulsification and texturization. Its role extends to the food industry, where it serves as a food additive and flavour enhancer in processed foods. In the chemical sector, it finds utility in synthesizing various compounds such as esters, amides, and metallic salts, which are integral to applications ranging from lubrication to metalworking.
The global demand for oleic acid is poised for growth, primarily fuelled by its expanding utilization across skincare products such as moisturizers, anti-aging creams, and sunscreen formulations. Although, the food and beverage sector are the primary factor. Due to its outstanding flavour attributes, oleic acid is employed as a flavour enhancer in various food items like salad dressings, sauces, and spreads, imparting a subtle, buttery taste and enriching the overall flavor profile of the food. Moreover, its increasing adoption in various other industries including food & beverages, plastics & rubber, textiles, and lubricants is contributing to market expansion. Over the forecast period, industry development is expected to be propelled by the escalating demand for fatty acids in an array of personal care and cosmetic applications, spanning from soap and detergent formulations to moisturizers and beyond. Furthermore, evolving consumer lifestyles, urbanization trends, and rising disposable incomes are amplifying the usage of cosmetics and personal care products, consequently driving the demand for fatty acids like oleic acid. The global Oleic Acid market is likely to reach approximately 550 thousand tonnes in 2034.
Based on region, Asia Pacific region is likely to witness the largest market share in terms of consuming oleic acid. The Asia Pacific region is poised for a significant surge in demand for oleic acid during the forecast period. This anticipated growth can be attributed to several factors. Firstly, the region's robust economic growth has led to increased disposable incomes and consumer spending, driving demand for skincare products, food items, and other goods containing oleic acid. Additionally, the region's large and growing population, particularly in countries like China and India, provides a substantial consumer base for oleic acid-based products. Moreover, the trend towards westernization and urbanization in many Asia Pacific countries is contributing to heightened demand for personal care and cosmetic products, further fuelling the need for oleic acid. Lastly, advancements in the region's manufacturing and industrial sectors are leading to expanded usage of oleic acid in various industrial applications, supporting its increased demand in the Asia Pacific market.
Based on the end-user industry, the global Oleic Acid market is divided into Food & Beverages, Pharmaceutical, Soaps & Detergents, Personal Care & Cosmetics, and Others. Among these, Food & Beverages is the major segment and held about 35% of the global Oleic Acid market in 2023 and is anticipated to prevail the similar trend in the upcoming years. Oleic acid, prized for its beneficial properties, enjoys multifaceted applications in food and nutrition. It serves as a key component in cooking oils like olive oil, canola oil, and sunflower oil, providing a healthy source of monounsaturated fats for frying and salad dressings. Furthermore, oleic acid acts as an emulsifier and stabilizer in sauces, dressings, and spreads, ensuring smooth texture and preventing separation. Its sodium salt form enhances the emulsifying properties, often combined with co-emulsifiers for optimal performance. Additionally, oleic acid enhances the flavour profile of various food products, imparting a mild, fatty taste that enriches the sensory experience.
Major players in the Global Oleic Acid market are Eastman Chemical Company, Berg + Schmidt GmbH & Co. KG, Croda International Plc, Godrej Industries (Chemicals), Surfachem Group Ltd, Tokyo Chemical Industry Co., Ltd., Univar Solutions Inc., Emery Oleochemicals (M) Sdn Bhd, Wilmar International Limited, Oleon NV, White Group Public Co. Ltd., KRATON Corporation, Win Rivers Technologies Inc., Recochem Inc., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Oleic Acid which covers production, demand and supply of Oleic Acid market in the globe.
• To analyse and forecast the market size of Oleic Acid
• To classify and forecast Global Oleic Acid market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Oleic Acid market in the globe.
To extract data for Global Oleic Acid market, primary research surveys were conducted with Oleic Acid manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Oleic Acid market over the coming years.
ChemAnalyst calculated Oleic Acid demand across the globe by analyzing the volume of Oleic Acid consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Oleic Acid manufacturers and other stakeholders
• Organizations, forums and alliances related to Oleic Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Oleic Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Oleic Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
340 thousand tonnes
Market size Volume in 2034
550 thousand tonnes
Growth Rate
CAGR of 4.5% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Food & Beverages, Cosmetics & Personal Care, Pharmaceuticals, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Oleic Acid in terms of volume in 2023?
Ans:
The global market size of Oleic Acid has reached approximately 340 thousand tonnes in 2023.
Q2.
Which industry is the leading end-user industry of Oleic Acid?
Ans:
Food & Beverages industry is the leading end-user industry of Oleic Acid globally.
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