Global Oleic Acid Market Outlook
Revenue, 2023
Forecast, 2033
CAGR, 2023 - 2033
Oleic acid, a monounsaturated fatty acid commonly derived from plant and animal sources, is widely used across industries due to its versatility and beneficial properties. In 2023, the oleic acid market was valued at approximately USD 326 million, with projections to reach USD 468 million by 2030 and potentially USD 606 million by 2035, growing at a CAGR of 5.3%. This growth is driven by increasing demand in personal care products, functional foods, and pharmaceuticals.
Known for its emollient and stabilizing properties, oleic acid is extensively used in formulations for skincare, food preservation, and pharmaceuticals. As consumer preferences shift towards natural and sustainable ingredients, oleic acid's market potential is expected to expand further, particularly in health-conscious and eco-friendly segments
Market Key Insights
- The Oleic Acid market is projected to grow from $326.0 million in 2023 to $546 million in 2033. This represents a CAGR of 5.3%, reflecting rising demand across Food and Beverages, Pharmaceuticals and Cosmetics and Personal Care.
- The market leaders include Archer Daniels Midland and Cargill and BASF which determine the competitive dynamics of this industry.
- U.S. and China are the top markets within the Oleic Acid market and are expected to observe the growth CAGR of 3.4% to 5.1% between 2023 and 2030.
- Emerging markets including Brazil, Vietnam and Thailand are expected to observe highest growth with CAGR ranging between 6.1% to 7.3%.
- The market expansion of Oleic Acid will reach $31.7 million through 2030 because of the transition toward sustainable and natural ingredients.
- The Oleic Acid market is set to add $220 million between 2023 and 2033, with manufacturer targeting Personal Care & Pharmaceuticals End User projected to gain a larger market share.
- With Increasing demand for natural ingredients, and Expanding use in functional foods, Oleic Acid market to expand 68% between 2023 and 2033.
Opportunities in the Oleic Acid
Innovations focused on sustainable sourcing and extraction of oleic acid appeal to eco-conscious consumers and companies
Growth Opportunities in North America and Asia-Pacific
North America Outlook
North America leads in demand for oleic acid, driven by applications in food, personal care, and pharmaceuticals. Key players like Cargill and Univar Solutions are prominent in this region
Asia-Pacific Outlook
Asia-Pacific, particularly China and India, sees growing demand due to industrial and personal care applications. Major providers include Wilmar International and KLK OLEO
Market Dynamics and Supply Chain
Driver: Increasing Demand for Natural Ingredients, and Versatile Applications Across Industries
The growth of the functional foods sector also drives demand for oleic acid, particularly in high-oleic oils that provide health benefits
Restraint: Fluctuating Raw Material Prices, and Limited Awareness in Emerging Markets
Lack of awareness about oleic acid's benefits and applications can limit market penetration in some regions
Opportunity: Growth in High-Oleic Oils and Expansion in Emerging Markets
Increasing demand in emerging markets, especially in food and personal care, provides growth opportunities for oleic acid
Challenge: Environmental Concerns in Production
Supply Chain Landscape
Wilmar International
Bunge
Archer Daniels Midland
Cargill
Univar Solutions
Brenntag
Food & Beverage
Cosmetics & Personal Care
Pharmaceutical
Wilmar International
Bunge
Archer Daniels Midland
Cargill
Univar Solutions
Brenntag
Food & Beverage
Cosmetics & Personal Care
Pharmaceutical
Applications of Oleic Acid in Food & Beverages, Pharmaceuticals & Cosmetics & Personal Care
Oleic acid is commonly used in food products as a preservative and to enhance flavor and stability, particularly in high-oleic oils. Key suppliers include Archer Daniels Midland and Cargill
In personal care products, oleic acid functions as an emollient and penetration enhancer, widely used in moisturizers and lotions. Major providers like BASF and Croda incorporate it in skincare formulations
Oleic acid serves as an excipient in pharmaceuticals, aiding in drug delivery and absorption in formulations. Leading companies include Evonik and Merck
Oleic acid is used as a lubricant and surfactant in various industrial applications, such as metalworking and textiles. Providers like Emery Oleochemicals and KLK OLEO specialize in industrial-grade oleic acid
Recent Developments
Archer Daniels Midland launched a sustainable oleic acid line for personal care, targeting eco-conscious brands
BASF expanded its high-oleic product line, aiming to meet the growing demand in functional foods and personal care
Emery Oleochemicals developed a new industrial-grade oleic acid with enhanced stability for high-temperature applications