Oleic Acid Market
The market for Oleic Acid was estimated at $326 million in 2023; it is anticipated to increase to $468 million by 2030, with projections indicating growth to around $606 million by 2035.
Report Summary
Market Data
Methodology
Table of Contents
Global Oleic Acid Market Outlook
Revenue, 2023
$326M
Forecast, 2033
$546M
CAGR, 2024 - 2033
5.3%
The Oleic Acid industry revenue is expected to be around $361.5 million in 2024 and expected to showcase growth with 5.3% CAGR between 2024 and 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.
- Archer Daniels Midland, Cargill, BASF are among the leading players in this market, shaping its competitive landscape.
- 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%.
- Transition like Shift Toward Sustainable and Natural Ingredients has greater influence in United States and China market's value chain; and is expected to add $15 million of additional value to Oleic Acid industry revenue by 2030.
- The Oleic Acid market is set to add $220 million between 2023 and 2033, with manufacturer targeting Cosmetics & Personal Care & Pharmaceuticals Application 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 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, 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
01
Driver: Increasing Demand for Natural Ingredients, and Versatile Applications Across Industries
Rising consumer preference for natural ingredients supports demand for oleic acid in food, personal care, and pharmaceuticals Oleic acid’s wide applicability—from food preservation to industrial lubricants—promotes market growth across various sectors
The growth of the functional foods sector also drives demand for oleic acid, particularly in high-oleic oils that provide health benefits
02
Restraint: Fluctuating Raw Material Prices, and Limited Awareness in Emerging Markets
Variability in the prices of raw materials like palm oil and animal fats impacts the cost and supply of oleic acid
Lack of awareness about oleic acid's benefits and applications can limit market penetration in some regions
03
Opportunity: Growth in High-Oleic Oils and Expansion in Emerging Markets
The rising popularity of high-oleic oils in the food industry, due to health benefits, drives demand for oleic acid as a key component
Increasing demand in emerging markets, especially in food and personal care, provides growth opportunities for oleic acid
04
Challenge: Environmental Concerns in Production
The environmental impact of sourcing and processing raw materials, particularly palm oil, poses challenges to sustainable production
Supply Chain Landscape
1
Raw Material Supplier
Wilmar InternationalBunge
2
Processor
Archer Daniels MidlandCargill
3
Distributor
Univar SolutionsBrenntag
4
End-User
Food & BeverageCosmetics & Personal CarePharmaceutical
1
Raw Material Supplier
Wilmar InternationalBunge
2
Processor
Archer Daniels MidlandCargill
3
Distributor
Univar SolutionsBrenntag
4
End-User
Food & BeverageCosmetics & Personal CarePharmaceutical
Use Cases of Oleic Acid in Food & Beverages
Food and Beverages : 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
Cosmetics and Personal Care : 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
Pharmaceuticals : Oleic acid serves as an excipient in pharmaceuticals, aiding in drug delivery and absorption in formulations. Leading companies include Evonik and Merck
Industrial : 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
Recent advancements in oleic acid emphasize sustainability and functional use. Archer Daniels Midland targets eco-friendly brands, BASF supports functional foods, and Emery Oleochemicals expands industrial applications
October 2024 : Archer Daniels Midland launched a sustainable oleic acid line for personal care, targeting eco-conscious brands
July 2024 : BASF expanded its high-oleic product line, aiming to meet the growing demand in functional foods and personal care
April 2024 : Emery Oleochemicals developed a new industrial-grade oleic acid with enhanced stability for high-temperature applications
Impact of Industry Transitions on the Oleic Acid Market
As a core segment of the Packaged & Processed F&B industry,
the Oleic Acid market develops in line with broader industry shifts.
Over recent years, transitions such as Shift Toward Sustainable and Natural Ingredients and Advancements in Extraction Techniques have redefined priorities
across the Packaged & Processed F&B sector,
influencing how the Oleic Acid market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Shift Toward Sustainable and Natural Ingredients
The shift towards natural and eco-friendly ingredients benefits oleic acid as companies respond to consumer preferences
02
Advancements in Extraction Techniques
New extraction methods improve the yield and quality of oleic acid, enabling broader applications in food and industrial sectors