The latest report by IMARC Group, titled “High Oleic Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global high oleic oil market is expected to grow at a CAGR of 5.57% during 2022-2027. High oleic (HO) oil is a type of edible oil that contains at least 70% oleic acid per serving. It is low in saturated fats, rich in monounsaturated fats and free from trans fat. It is commonly available in trait-enhanced and naturally occurring high-oleic acid variants, such as sunflower, soybean, olive, and canola oil. It is widely used in preparing packaged baked goods, crackers, dried fruit, and non-dairy creamers. It is also utilized for sauteing, deep-frying, and stir-frying as it helps enhance thermal stability, offers excellent resistance against oxidation, and extends the shelf life of various food products, thus reducing wastage. Since its consumption improves overall heart health, HO oil is gaining immense popularity across the residential and commercial sectors.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global High Oleic Oil Market Trends:
The rising applications of HO oil in numerous industries represent the primary factor driving the market growth. For instance, in the food and beverage (F&B) sector, HO oil is widely used in producing various sauces, dressings, marinades, and par-fried snacks, such as corn chips and potato chips. Additionally, there has been widespread product adoption in manufacturing personal care and cosmetic products as it aids in preventing wrinkles, acne, blemishes, and fine lines. In line with this, the growing usage of HO oil as a base fluid or additive in hydraulic fluids, transformer fluids, and poly-alpha-olefin (PAO) or group-III-based synthetic oil formulations has catalyzed the product demand. Furthermore, the emerging trend of preventive healthcare due to the surging prevalence of chronic diseases among the masses has propelled market growth. This is further supported by continual support from renowned institutions, such as the United States Food and Drug Administration (US FDA), backing health claims that vegetable oils containing high levels of oleic acid minimize the risks of heart disease. Besides this, the escalating demand for organic, clean-label, and nutritious foods, coupled with the growing awareness about the health benefits of HO oil, has accelerated product adoption rates. Other factors, including the expanding bio-based chemical industry, changing consumer dietary preferences, increasing usage of oleochemicals, and extensive research and development (R&D) activities by key players, are also creating a favorable market outlook.
- Based on the type, the market has been classified into sunflower, soybean, safflower, canola, and other oils.
- On the basis of the source, the market has been bifurcated into organic and conventional.
- The market has been segregated based on the application into food, personal care, nutraceuticals, and others.
- Based on the distribution channel, the market has been categorized into supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Adams Group Inc., Archer Daniels Midland Company (ADM), Aston Foods and Food Ingredients, Aveno N.V., Bunge Limited, Cargill Incorporated, CHS Inc., Colorado Mills, Marbacher Ölmühle GmbH (HOCHDORF Holding Ltd), Oilseeds International Ltd. (Itochu Corporation), and Richardson International Limited.
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