High Oleic Oil Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The global market for high oleic oil is set to witness robust growth from 2023 to 2033, driven by increasing awareness about preventive health measures and the rising demand for health-beneficial ingredients in food products. According to a recent report by Fairfield Market Research, the market is projected to expand at a value-based CAGR of 7.0%, with revenues expected to rise from US$ 10 billion in 2024 to around US$ 16 billion by 2031.
Key Trends Driving Market Growth:
Nutraceuticals Surge:
With consumers increasingly opting for products that support preventive health, the application of high oleic oils in nutraceuticals is expected to witness impressive growth, with a projected CAGR of 6.6% during the forecast period. High oleic oils, known for their low saturated fat content and absence of trans-fat, are recognized by the U.S. Food and Drug Administration for their potential to reduce the risk of heart disease.
Demand from Health-Conscious Consumers:
The preference for health-beneficial ingredients in food products is propelling the demand for high oleic oil, particularly in food manufacturing. Its suitability for various high-heat applications, such as frying and sauteing, makes it an ideal choice for health-conscious consumers seeking healthier cooking alternatives.
Benefits for Producers and Consumers:
High oleic oil offers numerous benefits, including high oxidative stability, longer shelf life, and a lower risk of health issues associated with trans-fats. With a concentration of vitamin E and omega-9 fatty acids, high oleic oil not only benefits manufacturers in terms of storage and production but also promotes consumer health.
Challenges in Production:
Despite its promising prospects, the high oleic oil market faces challenges related to segregation costs and volatile premiums for farmers. The transition from conventional oilseed to high oleic varieties entails yield losses, while fluctuating premiums and unpredictable supply pose barriers to market growth.
Regional Insights:
Dominance of North America and Europe:
Established markets like North America and Europe currently dominate the high oleic oil market, with a combined value share of 70.3% in 2023. Europe, in particular, has witnessed significant adoption of high oleic oil, driven by the substitution of palm oil and increasing demand from food processors.
Emerging Opportunities in Asia:
Asian markets, including South Asia and East Asia, represent high potential for the high oleic oil market, fueled by the region's growing focus on preventive health and wellbeing. Tier-1 companies are targeting these markets to capitalize on the demand for healthier cooking alternatives.
Category-Wise Insights:
Growth in Food Industry Application:
The market value for high oleic oil in the food industry is expected to witness substantial growth, driven by increased awareness of its heart health benefits. Sales in this segment are projected to reach US$ 12 billion by 2031, reflecting a 1.8x increase from the current market value.
Rise in Online Retail Distribution:
The online retail volume distribution channel is expected to experience significant growth, attributed to global internet penetration and consumer preferences for convenient shopping experiences. Sales through online platforms are forecasted to increase by 2.1x during the forecast period.
Segmental Breakdown:
The global high oleic oil market is segmented based on type (Canola, Sunflower, Soybean, Palm, and Others), nature (Organic and Conventional), application (Food, Personal Care Products, Nutraceuticals, and Others), and distribution channel (Business to Business and Business to Consumer).
Competitive Analysis:
Leading manufacturers in the high oleic oil market are actively pursuing partnerships and collaborations to enhance production capacity and gain a competitive edge. Key players are also focusing on product innovation to cater to the evolving needs of consumers and capitalize on the growing demand for healthier cooking alternatives.
Key companies profiled
Cargill, Incorporated
Archer Daniels Midland Company
Bunge Limited
PPB Berhad Group
Adams Group Inc.
Colorado Mills
Jivo Wellness Pvt. Ltd.
CHS Inc.
James Richardson & Sons, Limited
Macjerry Sunflower Company
Aston Food and Food Ingredients
Oilseed International, Ltd.
Gustav Heess Oleochemische Erzeugnisse GmbH
Borges Agricultural & Industrial Oils, S.A.U.
Marbacher Olmuhle GmbH
High Oleic Oil Industry Research by Category
By Type:
Canola
Sunflower
Soybean
Palm
Others
By Nature:
Organic
Conventional
By Application:
Food
Personal Care Products
Nutraceuticals
Others
By Distribution Channel:
Business to Business
Business to Consumer
Hypermarkets/Supermarkets
Convenience Stores
Specialty Stores
Online Retail
By Region:
North America
Latin America
Europe
South Asia & Pacific
East Asia
Middle East & Africa
Table of Contents
1. Executive Summary
1.1. Global High Oleic Oil Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Production Output and Trade Statistics, 2018 - 2023
3.1. Global High Oleic Oil Market Production Output, by Region, Value (US$ Bn) and Volume (Million Units), 2018 - 2023
3.1.1. North America
3.1.2. Europe
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. Middle East and Africa
4. Price Analysis, 2018 - 2023
4.1. Global Average Price Analysis, by Type/ Material, US$ Per Unit, 2018 - 2023
4.2. Prominent Factor Affecting High Oleic Oil Prices
4.3. Global Average Price Analysis, by Region, US$ Per Unit
5. Global High Oleic Oil Market Outlook, 2018 - 2031
5.1. Global High Oleic Oil Market Outlook, by Type, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
5.1.1. Key Highlights
5.1.1.1. Canola
5.1.1.2. Sunflower
5.1.1.3. Soybean
5.1.1.4. Palm
5.1.1.5. Others
5.2. Global High Oleic Oil Market Outlook, by Nature, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
5.2.1. Key Highlights
5.2.1.1. Organic
5.2.1.2. Conventional
5.3. Global High Oleic Oil Market Outlook, by Application, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
5.3.1. Key Highlights
5.3.1.1. Food
5.3.1.2. Personal Care Products
5.3.1.3. Nutraceuticals
5.3.1.4. Others
5.4. Global High Oleic Oil Market Outlook, by Distribution Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
5.4.1. Key Highlights
5.4.1.1. Business to Business
5.4.1.2. Business to Consumer
5.4.1.2.1. Hypermarkets/Supermarkets
5.4.1.2.2. Convenience Stores
5.4.1.2.3. Specialty Stores
5.4.1.2.4. Online Retail
5.5. Global High Oleic Oil Market Outlook, by Region, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
5.5.1. Key Highlights
5.5.1.1. North America
5.5.1.2. Europe
5.5.1.3. Asia Pacific
5.5.1.4. Latin America
5.5.1.5. Middle East & Africa
6. North America High Oleic Oil Market Outlook, 2018 - 2031
6.1. North America High Oleic Oil Market Outlook, by Type, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
6.1.1. Key Highlights
6.1.1.1. Canola
6.1.1.2. Sunflower
6.1.1.3. Soybean
6.1.1.4. Palm
6.1.1.5. Others
6.2. North America High Oleic Oil Market Outlook, by Nature, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
6.2.1. Key Highlights
6.2.1.1. Organic
6.2.1.2. Conventional
6.3. North America High Oleic Oil Market Outlook, by Application, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
6.3.1. Key Highlights
6.3.1.1. Food
6.3.1.2. Personal Care Products
6.3.1.3. Nutraceuticals
6.3.1.4. Others
6.4. North America High Oleic Oil Market Outlook, by Distribution Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
6.4.1. Key Highlights
6.4.1.1. Business to Business
6.4.1.2. Business to Consumer
6.4.1.2.1. Hypermarkets/Supermarkets
6.4.1.2.2. Convenience Stores
6.4.1.2.3. Specialty Stores
6.4.1.2.4. Online Retail
6.5. North America High Oleic Oil Market Outlook, by Country, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
6.5.1. Key Highlights
6.5.1.1. U.S. High Oleic Oil Market by Type, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
6.5.1.2. U.S. High Oleic Oil Market by Nature, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
6.5.1.3. U.S. High Oleic Oil Market by Application, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
6.5.1.4. U.S. High Oleic Oil Market by Distribution Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
6.5.1.5. Canada High Oleic Oil Market by Type, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
6.5.1.6. Canada High Oleic Oil Market by Nature, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
6.5.1.7. Canada High Oleic Oil Market by Application, Value (US$ Bn) and Volume (Million Units), 2018 - 2031
6.5.1.8. Canada High Oleic Oil Market by Distribution Channel, Value (US$ Bn) and Volume (Million Units), 2018 - 2031