Oleic Acid Market

Oleic Acid Market Outlook (2023-2033)

The global oleic acid market is set to estimate a valuation of US$ 317.8 million in 2023 and it is anticipated to grow at a CAGR of 3.1% to reach US$ 431.3 million by the end of 2033.

The global oleic acid market is driven by the increasing demand from end-use industries such as cosmetics, personal care products, pharmaceuticals, and others. Growing demand for natural products in personal care and cosmetics products is likely to create a significant opportunity for oleic acid manufacturers.

Report Attributes	Details
Estimated Market Value (2023E)	US$ 317.8 Million
Forecasted Market Value (2033F)	US$ 431.3 Million
Global Market Growth Rate (2023–2033)	3.1% CAGR
North America Market Share (2023)	31.3%
East Asia Market Growth Rate (2023–2033)	3.2% CAGR
Europe Market Growth Rate (2023–2033)	3.0% CAGR
Key Companies Profiled	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.

Historic and Future Path for Oleic Acid Market

Oleic acid is also known as omega-9. It is a colourless or pale yellow, odourless unsaturated fatty acid. occurs naturally in various animal and vegetable fats and oils. It is most commonly found in natural sources such as avocado, olive oil, palm oil, etc. Oleic acid is most commonly used in cosmetics products as demand for naturally derived products in the cosmetics industry is increasing.

Oleic Acid is widely used as a chemical intermediate for the production of various fatty alcohols, esters, fatty acid sarcosinates, fatty acid isethionates, imidazolines, fatty amines, oxazolines, corrosion/rust inhibitors for antifreeze.

• Short Term (2023-2026): Rising demand for naturally derived products in the cosmetics industry is likely to boost the demand for oleic acid in the coming years from the cosmetics industry.
• Medium Term (2026-2029): Growing concerns over obesity, rise in demand for functional food, and dietary supplements, and increased awareness about healthy lifestyles will drive the oleic acid market, especially in North America and Asia.
• Long Term (2029-2033): Increase in awareness about the usage of bio-based and natural materials in various end-use industries and a rise in global consumption of palm-based oleo chemical products is likely to create significant opportunities for the manufacturers.

Market Dynamics Outlook

“Increasing Popularity of Olive Oil to Boost the Oleic Acid Consumption”

Olive oil provides a high amount of oleic acid. Over the period, olive oil has gained popularity as it regulates the immunological functions of the human body. In addition, olive oil acts as a replacement for dietary saturated fats, which helps in lowering the risk of cardiovascular diseases in individuals.

Olive oil is most commonly used for heart diseases, high blood pressure, and diabetes. It finds application in cancer, high cholesterol, obesity, and many other health treatments. It is beneficial for dry and thick hairs by keeping the hair moist and strong.

Food applications are some of the highest revenue generators of the oleic acid industry. Extra virgin olive oil is widely used in the cooking industry. Olive oil can become a key factor in maintaining a balanced diet and adding flavor and depth to food. Oleic acid is the most common fatty acid in olives that accounts for 50-80% of the total fatty acid.

Increasing consumption of olive oil in the food & beverage industry, cosmetics, and pharmaceutical is likely to increase the demand for oleic acid in the coming years.

“Multiple End-Use Application is Likely to Increase the Demand for Oleic Acid”

Increasing demand from various end-use industries such as food & beverages, cosmetics, personal care, and pharmaceuticals is likely to drive the oleic acid market in the coming years. Also, an abundant supply of raw materials used in oleic acid contributes to the expansion of oleic acid. Increasing demand for naturally derived products in cosmetics and personal care products is considered the main driving factor of the oleic acid market.

The availability of many grades of oleic acids such as food grade, pharmaceutical grade, and kosher is anticipated to contribute to the growth of the oleic acid. Its demand is increasing highly in North America and Europe as laws have been passed which has encouraged maximum use of bio-based ingredients in the manufacturing of various types of goods. Rising consumer spending in the food and cosmetics industry will create high demand for oleic acid in the coming years.

“Constant Climate Changes to Hamper Oleic Acid Market”

Constantly changing climatic conditions can have a significant impact on the production of oleic acid in the forecast period. Adverse climate changes can result in the lesser production of natural sources such as avocado, palm oil, olive oil, etc.

Furthermore, the availability of substitutes such as palmitic and lauric acid in the personal care products and cosmetics industry has a negative impact on the growth of the oleic acid market. The disadvantages of olive oil such as acne, skin rashes, allergies, and fat-related diseases can hamper the growth of olive oil as well as oleic acid in the forecast period.

Also, the high cost of the production of oleic acid has shifted manufacturers’ interest to another economic alternative for oleic acid.

Country-wise Insights

What Makes the US a Dominant Market for Oleic Acid?

The growing cosmetics industry in the US is likely to create high demand for oleic acid in the coming years. Changing consumers’ preference towards bio-based products in cosmetics creates significant opportunities for the growth of the oleic acid market in the US.

The US cosmetics industry is valued at over US$ 50 billion in 2022 and is anticipated to grow during the assessment period. Oleic acid is widely used in the cosmetics industry as a cleansing agent and texture enhancer. The fatty acid has a unique ability to preserve the effectiveness of the ingredients such as antioxidants by protecting them from light and air degradation.

The US oleic acid market is anticipated to grow at a CAGR of 3.2% during the forecast period.

What Role does China Play in the Expansion of Oleic Acid Market?

Increasing government investments in the pharmaceutical and healthcare industries in China are likely to lift the oleic acid market in the forecast period. China’s pharmaceutical industry is valued at over US$ 550 billion in 2022 and is expanding due to the presence of manufacturing facilities and a growing population.

Increasing the use of oleic acid in the prevention of heart diseases and reducing cholesterol is likely to create high demand for oleic acid manufacturers in the Chinese market. It can also be used in cancer treatment.

Also, increasing disposable income has been the prime factor for the growth of the food & beverage and cosmetics industry in China, which is likely to create high demand for oleic acid in the coming years.

Category-wise Insights

Which Grade is Likely to Capture Maximum Market Share?

Plant-based oleic acid is likely to dominate the maximum market share in the oleic acid market. Oleic acid is most commonly found in natural sources such as avocado, palm oil, and olive oil.

Plant-based oleic acid is used in the manufacturing of various food products, facial creams & lotions, textiles, soaps & detergents, and many more. It is widely used as an intermediate in the oil & gas industry, in which it plays a key role in fracking and drilling operations.

How is Oleic Acid Demand Increasing by Extensive Consumption in Cosmetics Products?

Customers’ increased preference for exotic plant-based products has created significant opportunities for oleic acid manufacturers. The growing demand for green and organic cosmetic products due to increased awareness of the harmful effects of synthetic chemicals will increase oleic acid demand.

Cosmetics manufacturing companies are converting to oleic acid with other fatty acids for producing skincare solutions as the topical oleic acid treatment alone cannot penetrate skin barriers.

The global cosmetics industry was valued at over US$ 260 billion in 2022 and is likely to support the growth of oleic acid in the coming years as it is widely used in cosmetics products.

Market Titans Key Strategies

Prominent players in the oleic acid market are Eastman Chemical Company, Berg + Schmidt, VVF LLC., Klk Oleo Sdn. Bhd., Godrej Industries (Chemicals), Emery Oleo Chemicals, KRATON Corporation, Win Rivers Technologies Inc., Wilmar International, and Oleon N.V.

The oleic acid market is highly fragmented. However, some of the leading companies in oleic acid manufacturing continue to maintain significant market share. Players in the market are focusing on research to discover the end uses of oleic acid in a variety of end-use industries.

• Eastman Chemical Company has launched high-quality, non-animal kosher oleic acid as per the US FDA guidelines. It is primarily made for human consumption, but it can be very well suited for adhesives, coating, inks, and detergents.

Fact.MR has provided detailed information about the price points of key manufacturers of oleic acid positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Oleic Acid Industry Researchf

• By Origin :

  • Plant-based
  • Animal-based

• By Grade :

  • Food Grade
  • Pharmaceutical Grade
  • Technical Grade

• By End-Use :

  • Food & Beverages
  • Textiles & Leather
  • Cosmetics & Personal Care
  • Pharmaceuticals
  • Chemical Intermediates
  • Automotive
  • Paints & Coatings
  • Other End Uses

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA