(MENAFN- America News Hour) “The report on
Oleic Acid Market
was recently published by SDKI, which includes the latest market trends, current and future opportunities along with the factors that are driving the growth of the market. This report further encompasses the records for the expansion of the market along with information on the investment opportunities that help the clients to take positive decisions on the parameters for gaining profitable revenues. Moreover, the report also contains identification and investigation of the market structure, in-depth qualitative analysis, restraints & challenges, growth drivers, emerging product trends & market opportunities and Porter's five forces.
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Oleic Acid Market: Overview
In terms of value, the global oleic acid market is anticipated to expand at a CAGR of 3.5% from 2022 to 2031 and surpass US$ 400 Mn by 2031. 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 2031. Global demand for oleic acid in the cosmetics & personal care segment is expected to rise at a CAGR of 4% from 2022 to 2031. 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 2031.
Asia Pacific to be Highly Lucrative Region of Oleic Acid Market
Asia Pacific led the global oleic acid market in 2022. The region is estimated to contribute more than 50% share of the global oleic acid market by 2031. 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 presents a wealth of information on key market dynamics, including drivers, trends, and challenges, as well as structure of the global oleic acid market. The study offers valuable information on the global oleic acid market in order to illustrate how growth would discern during the forecast period of 2022 to 2031.
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 the 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 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 the 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?
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Research Methodology
A unique research methodology has been utilized 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 the study on the global oleic acid market as a primary source.