High Oleic Oil Market
Global Market Study on High Oleic Oil: Increasing Application in Nutraceuticals Aiding Market Progression
High Oleic Oil Market Segmented By Canola, Sunflower, soybean, Palm Type with organic and Conventional Nature in Food, Personal Care product and Nutraceuticals
High oleic oil offers superior resistance to oxidation. This resistance extends the shelf life of packaged products and fresh baked goods. The functionality testing of high oleic oil has showed that, enzymatically interesterified high oleic oil shortening produces baked goods with increased oxidative stability, similar to products made with partially hydrogenated oils (PHO). This makes it the perfect drop-in solution for bakery applications. High oleic oil features a neutral flavor profile, allowing the true and natural flavors of ingredients to stand out. Such increased functionality of high oleic oil in the food industry is expected to aid the expansion of the global high oleic oil market size, which is expected to reach a valuation of US$ 14.4 Bn by 2030-end.
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- 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 Ölmühle GmbH
Growing Demand for Cosmetic Products is driving High Oleic Oil Market:
Increased Customer Preference for Products Supporting Preventive Health to Surge Application of High Oleic Oils in Nutraceuticals: High oleic oil has the least saturated fat as compared to any of the common culinary oils, and is free of trans-fat. In fact, the U.S. Food and Drug Administration authorized qualified health claims for high oleic oil on its potential to reduce the risk of heart disease. Around 1.5 tablespoons of this oil a day, when used in place of saturated fat, aids heart health.
High oleic oil also has the most plant-based omega-3 fat among the common oils, and is a good source of vitamin E. Increased application in nutraceuticals is expected to drive the growth of the high oleic oil market over the years to come.
- According to the World Health Organization, cardiovascular disease is the number one cause of death, globally, with an estimated 17.9 Mn deaths each year.
Health-conscious Consumers Demanding Health-beneficial Ingredients in Food Products: In terms of application and performance, high oleic oil find use in food manufacturing, primarily for par-fried snacks such as potato chips and corn chips. It can also be used in some sauces, marinades & dressings, vegetarian meals; as spray coatings for cereals, crackers, and dried fruits; and in some bakery products. The smoke point for high oleic oil is much higher than other oils (excellent fry life). High oleic oil is ideal for sautéing, stir-frying, deep-frying, and other high-heat applications. As such, the global high oleic oil market is expected to see increased demand from the food processing industry that is targeting health-conscious consumers.
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Global High Oleic Oil Market: Segmentation
The global high oleic oil market share is dominated by established markets of North America and Europe, which will have a value share of 30% and 40%, respectively, in the year 2020. Europe has already gone through the process of substitution of palm oil with high oleic oil. A large volume of sunflower oil in Italian and Spanish shops are high oleic oil. Furthermore, the volume of sunflower oil in Europe is expected to witness 1.6X growth, as food processors are also actively replacing palm oil.
Asian countries have recently joined the trend of preventive health and well-being. Hence, tier-1 players in the high oleic oil market space are targeting the potential markets of Asia. It being a healthy substitute to tradition oils, is expected to open up lucrative opportunities for manufacturers in the Asian market, at an impressive expected value CAGR of nearly 9% in South Asia and 8% in East Asia.
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COVID-19 Impact on High Oleic Oil Market
Weak heart conditions may have increased COVID-19 susceptibility, which is increasing consumer concerns regarding heart health. Prevalence of heart health diseases is high across the world. Thus, as a preventive measure and seeming wherewithal to live longer and healthier lives during the pandemic, sales of products supporting well-being have witnessed an upsurge. The high oleic oil market is also expected to experience a positive impact regarding sales in the near term.
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The global high oleic oil market is expected to witness a value growth of 1.8X over the forecast period, owing to increased usage of high oleic oil for supporting heart health along with imparting a sheen texture to food products. Increased application in personal care cosmetic products is expected to further contribute toward high market growth, with expected volume sales of 299 KT in 2030.
Key players such as Cargill, Incorporated, Archer Daniels Midland Company, and Bunge Limited are focusing on further improving the quality of high oleic oil for increased health and wellness.