Oleic Acid Market Report: Predicting $431.3 Million by 2033

Posted 2024-05-06 19:04:06

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Fact.MR, a company that offers competitive intelligence and market research, projects that the global Oleic Acid Market will reach a valuation of US$ 317.8 million in 2023 and will expand at a compound annual growth rate (CAGR) of 3.1% from 2023 to 2033.

The market for natural ingredients in makeup and personal hygiene products has grown dramatically. The need for oleic acid is anticipated to increase as a result in the upcoming years. A variety of lotions, lipsticks, creams, and moisturizers are made with oleic acid.

In various end-use sectors such chemicals, food & beverage, and medicines, oleic acid is frequently used. The demand is expected to be driven by a large increase in women's spending on cosmetics and a rise in men's use of grooming items for oleic acid in the personal care industry.

Oleic acid has anti-inflammatory properties which have become a popular ingredient in skin care products. Increasing demand for natural oil and fatty acid, especially in the pharmaceutical and cosmetics industry is likely to drive the oleic acid market in the forecast period.

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Wide applications of oleic acid in the chemical industry to lift the market. It is used as an intermediate, emulsifier, detergent, release agent, surfactant, protective coating, lubricant, and epoxy resin to bolster the demand for oleic acid.

Key Takeaways from Market Study

The global oleic acid market is projected to grow at 3.1% CAGR and reach US$ 431.3 million by 2033
The market witnessed a 2.0% CAGR between 2018 to 2022
North America is likely to represent 31.3% of the oleic acid market share
Europe oleic acid market is anticipated to grow at a CAGR of 3.0% in the forecast period
China’s oleic acid market is set to grow at a CAGR of 3.4%
Prominent manufacturers of oleic acid are Eastman Chemical Company, Berg + Schmidt, VVF LLC., Klk Oleo Sdn. Bhd., Emery Oleo Chemicals, Wilmar International, and Oleon N.V.

“Growing Demand from Food & Beverage, Pharmaceuticals and Cosmetics & Personal Care Industries to Create High Demand for Oleic Acid,” says a Fact.MR analyst.

Segmentation of Oleic Acid Industry Research

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

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Market Growth Strategies

Manufacturers are looking for strategic partnerships with cosmetics players where demand for oleic acid is increasing as natural products are gaining popularity in the cosmetics market. Some of the leading market players in the oleic acid market are investing heavily in research & development activities for finding out the potential use of oleic acid and to maintain a significant market share.

For instance, Clover Biopharmaceuticals has conducted trials with oleic acid as viable vaccine culture mediums for better stability.

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.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the oleic acid market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of origin (plant-based, animal-based), grade (food grade, pharmaceutical grade, technical grade), end-use (oleic acid for food & beverages, textile & leather, cosmetics & personal care, pharmaceutical, chemical intermediate, automotive, paints & coatings, others), and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia and Oceania, Middle East & Africa).

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