Rockville , Jan. 15, 2024 (GLOBE NEWSWIRE) -- As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global High Oleic Oil Market is expected to experience significant growth, reaching a value of US$ 9,786.2 million in 2024. The market is expected to reach US$ 18,564.2 million, expanding at a CAGR of 6.6% until 2034.
The food and beverage industry is experiencing a significant surge in demand for high oleic oil. This versatile oil is highly sought after due to its numerous benefits and adaptability in various culinary applications. As a result, the industry is rapidly shifting towards high-oleic crude to meet the growing demand and satisfy the needs of consumers.
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High oleic oil contains a unique combination of monounsaturated fats, mainly oleic acid, which gives excellent stability, oxidation resistance, a longer shelf life, and superior frying qualities.
High oleic oils are commonly used in the food service industry for their stability, prolonged frying life, and cost-effectiveness. They are also used in the industrial sector as lubricants, biofuels, and ingredients for personal care products because of their environmentally beneficial qualities.
Given its neutral flavor and resilience at high temperatures, high oleic oil finds extensive application in the food sector for cooking oils, spreads, salad dressings, margarine, and bread items. The snack food and confectionery sector depends on the outstanding frying performance of oleic oils to achieve the necessary texture, flavor, quality, and shelf life.
Over the past decade, the market for high oleic oil has grown significantly, mainly due to increasing consumer knowledge of the advantages monounsaturated fats provide for health.
“The worldwide food and beverage sector is witnessing an increase in the usage of high oleic oil, notably in the manufacture of par-fried items such as corn and potato chips, transformer fluids, synthetic oil formulations, and hydraulic fluids. The need for oleo chemicals, the rising bio-based chemical industry, the growth in chronic sickness rates, and research and development efforts are anticipated to support the market's optimistic outlook for oleic acid-rich oils," says a Fact.MR analyst.
Key Takeaways from the Market Study
- The global high oleic oil market is projected to expand at a CAGR of 6.6% through 2034.
- The North America high oleic oil market is expected to grow at a remarkable CAGR of 7.2% through 2034.
- The East-Asian high oleic oil industry is expected to rise at a CAGR of 8.0% through 2034.
- The high oleic oil industry in the United States holds a dominant share of 66.1% in 2024.
- The high oleic oil industry in China is expected to acquire a market share of 71.9% in 2024.
Competitive Landscape
The growing need for healthier food alternatives drives growth in the high oleic oil market. Because of their ideal fatty acid composition, high oleic oils appeal to health-conscious customers looking for other options to conventional oils and fats. Because of their improved stability and longer frying life, these oils have a cost-effective market in the food service and hospitality sectors.
Businesses can create bespoke high-oleic oil products with improved functionality to meet client preferences and specific needs. Growing eating habits and urbanization present significant opportunities in emerging markets of Africa, South America, and Asia-Pacific. Lubricants, biofuels, and personal hygiene products also use high oleic oils. Collaborative alliances assist businesses in growing their product lines and establishing a solid market presence.
Key Companies Profiled:
- 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 Ölmühle GmbH
- Cargill, Incorporated
- Archer Daniels Midland Company
- Bunge Limited
- PPB Berhad Group
- Adams Group Inc.
- Colorado Mills
- Jivo Wellness Pvt. Ltd.
- CHS Inc.
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| Report Attribute | Details |
| Value Projection (2034) | USD 18,564.2 Million |
| Growth Rate (2024-2034) | 6.6% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 240 Figures |
Why is the United States Dominating the Global High Oleic Oil Market?
"The American market offers a conducive environment for the sale of high oleic oil."
In 2024, the North American high oleic oil market is anticipated to reach a valuation of US$ 2,392.7 million, representing a 24.5% revenue share and a Compound Annual Growth Rate (CAGR) of 7.2% until 2034. Specifically, the United States high-oleic oil industry is forecasted to generate US$ 1,582.1 million in 2024, contributing to 66.1% of the nation's GDP. Over the period up to 2034, the U.S. industry is expected to exhibit a CAGR of 6.9% in the high-oleic oil sector.
The growth of the high-oleic oil market in North America is propelled by an increased consumer demand for healthier food alternatives, driven by a growing awareness of the health benefits associated with high-oleic oils.
The United States, a major player in both consumption and production of high oleic oils, experiences significant demand from the food-service and processed food sectors. Noteworthy features of the market include key industry players, advanced production technologies, and a well-established distribution network.
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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