Oleic Acid Market To Reach $684.7 Million By 2030 | CAGR 4.6%

Oleic Acid Market Growth & Trends

The global oleic acid market size is expected to reach USD 684.7 million by 2030, expanding at 4.6% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The personal care and cosmetics industry is growing at a steady rate and is expected to continue growing in the coming years, due to increasing consumer demand for high-quality, natural, and organic products.

Oleic acid is widely used in the personal care and cosmetics industry, as they have several properties that make them useful in a variety of skincare products. These acids are considered a more stable form of fatty acid. As a result, they are included in the form of multiple personal care & cosmetic products to enhance the texture as well as to shield some other delicate substances like antioxidants from light and air exposure.

Additionally, the driving factors for the personal care and cosmetics market include an increasing emphasis on personal grooming and appearance and advances in technology and research leading to the development of new products. Furthermore, the rise of social media and the impact of influencers and celebrities on beauty trends also play a role in driving the market. As a result, the overall growth of the personal care & cosmetics market globally has paved way for oleic acid application and is expected to grow further over the forecast period.

Oleic acid also has several benefits when used in the right amounts. Apart from this, high consumption can cause some high-risk deficiencies, which could eventually lead to heart failure. Similarly, combining oleic acid with other blood pressure and diabetes medications can cause high-risk outcomes such as low blood sugar levels. Furthermore, it causes eye irritation along with the threat of causing respiratory tract irritations if inhaled. Such harmful side effects associated with the high consumption of the product are anticipated to hamper the market growth globally.

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Oleic Acid Market Report Highlights

• The personal care & cosmetics end-use segment dominated the global market with a revenue share of over 26% in 2022. This is mainly due to the rising usage of oleic acid in creams, sun, skin, hair, and oral care products

• Among regions, Asia Pacific held the largest revenue share of more than 24% in 2022. This growth is attributed to the rapid increase in demand for oleic acid from the rubber and plastics industries in China and India

• In 2022, North America is expected to witness significant CAGR over the forecast period, due to its increasing demand from the personal care & cosmetics industry especially from developed countries like the U.S.

• In September 2020, research by Willmar International found that supplementing animal feed products with oleic acid increased milk production in lactating cows

Oleic Acid Market Segmentation

Grand View Research has segmented the global oleic acid market based on end-use, and region.

Oleic Acid End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Food & Beverages

• Pharmaceutical

• Soaps & Detergents

• Personal Care & Cosmetics

• Textile

• Lubricants

• Others

Oleic Acid Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

• Central & South America

  • Argentina

  • Brazil

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Oleic Acid Market

• AkzoNobel N.V.

• BASF SE

• Emery Oleochemicals

• Vantage Specialty Chemicals

• KLK Oleo

• IOI Oleochemicals

• Shuangma Chemical