TAGS: Sustainability / Natural Cosmetics
According to a new report by Fact.MR, the global oleic acid market is poised to expand at a CAGR surpassing 3 percent to be valued at over USD 400 Mn by the end of the 2021-2031 assessment period. Extensive uptake is expected in the cosmetics and personal care segment.
Oleic Acid in Kosher & Halal Grades
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Growth of the oleic acid market is supported by widespread availability of raw materials. Further, rising demand for personal care and cosmetic products will aid industry expansion. Development of oleic acid in kosher and halal grades will also support demand in the long term," said a Fact.MR analyst.
Historically, the landscape grew at nearly 3% CAGR, reaching USD 290 Mn by the end of the 2016-2020 historical period. Oleic acid works as a substitute for dietary saturated fat, decreasing people's risk of cardiovascular diseases (CVD). As a result, people with high cholesterol are turning to olive oil, and the oleic acid sector is expanding its olive oil production capacity.
Food applications are the most important revenue sources for oleic acid companies, with olive oil serving as the primary source. Manufacturers are focused on customers in the Mediterranean region, where olive oil is a popular source of monosaturated fatty acids. Additionally, South Koreas Han woo beef industry is also moving toward the usage of olive oil. Individuals suffering from CVDs prefer oleic acid due to its cholesterol-lowering effects.
Range of Oleic Acid Ingredients
Source: Fact.MR