Plant Oleic Acid Market Scope
Oleic acid is a monounsaturated omega-9 fatty acid mainly found in animal or vegetable sources. Plant-based oleic acid is derived from olive oil or nuts and is widely used as a replacement for animal-based fat. The increasing health-conscious population and high consumption of monounsaturated and polyunsaturated fatty acids among consumers help lower cholesterol and improve heart conditions. Further, the consumers’ inclination toward plant-based or organic cosmetics and personal care products will create huge demand for plant-based fatty acids in the nearer future.
|Unit||Value (USD Million)|
|Key Companies Profiled||RX Chemical International (India), Sigma-Aldrich (United States), Adani Wilmar Limited (India), Alfa Aesar (United States), Otto Chemie Pvt. Ltd. (India), PENTA Chemicals (Czech Republic), SO.G.I.S. Industria Chimica S.p.A. (Italy), Merck Group (Germany), Vizag Chemical (India) and NextChem S.p.A. (Italy)|
The global market consists of a limited number of providers who compete with each other. Changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. The increasing number of players is also expected to enter the market and enhance competition and overall market growth during the forecasted period.
RX Chemical International (India), Sigma-Aldrich (United States), Adani Wilmar Limited (India), Alfa Aesar (United States), Otto Chemie Pvt. Ltd. (India), PENTA Chemicals (Czech Republic), SO.G.I.S. Industria Chimica S.p.A. (Italy), Merck Group (Germany), Vizag Chemical (India) and NextChem S.p.A. (Italy) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Plant Oleic Acid market by Type and Region with country level break-up.
On the basis of geography, the market of Plant Oleic Acid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Influencing Trend:Increasing Investment in R&D for the Development of Oleic Acids from Different Plant-based Sources like Wild Plants, Emerging Trend of Oleochemical Lubricants for Application Across Various Industries and Increasing Use of Innovative Technologies for Plant Breeding To Enhance the Oleic Acid Content
Market Growth Drivers:Growing Vegan Populations Across the Globe and Adoption of Plant-based Oleic Acid as Replacement of Animal Fat and Use of Oleic Acid in Cosmetics and Pharmaceuticals as Oil Base in Creams, Ointments, Lotions, Etc.
Challenges:Availability of Other Alternatives Substrates like Oleyl Alcohol, Methyl, Etc. for Biochemical Production
Restraints:Heart Failures and Deficiencies in Some Cases Due to Consumption of Oleic Acid
Opportunities:Significant Opportunities of Plant Oleic Acid in Indian Market Due to Vegetarian Populations Compared to Other Countries
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Plant Oleic Acid Manufacturers, Suppliers and Distributors of Plant Oleic Acid, Regulatory Bodies, Research Organizations, End-User Industries and Others