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High Oleic Oil Market

Global Market Study on High Oleic Oil: Increasing Application in Nutraceuticals Aiding Market Progression

High Oleic Oil Market By Type (Canola, Sunflower, Soybean, Palm)

High Oleic Oil Market Outlook (2023 to 2033)

The Market for High Oleic Oil can be expected to expand at a value based CAGR of 6.2% and show an increase in revenue from US$ 9,641.10 Million to around US$ 17,594.29 Million by 2033.

High Oleic Oil Market Size (2023E)

US$ 9,641.10 Million

Projected Sales of High Oleic Oil (2033F)

US$ 17,594.29 Million

Value CAGR (2023 to 2033)

6.2%

Value Share of Top 4 Countries (2022E)

52%

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High Oleic Oil Consumption Analysis (2018 to 2022) Vs. Market Estimations (2023 to 2033)

The Global High Oleic Oil Market has witnessed significant growth in the historical period registering a CAGR of 4.83% in the historical period and is valued at US$ 9,641.10 Mn in 2023.

High oleic oil offers superior resistance to oxidation. This resistance extends shelf life for packaged products and fresh baked goods. The functionality testing of high oleic oil has showed that enzymatically inter-esterified high oleic oil shortening produced baked goods with increased oxidative stability, most similar to products made with partially hydrogenated oils (PHO).

This makes it the perfect drop-in solution for bakery applications. High oleic oil feature a neutral flavor profile, allowing the true and natural flavors of ingredients to stand out. Such increased functionality of high oleic oil in food industry is expected to boost the sales of the global high oleic oil market. The global market for high oleic oil is estimated to reach an approximate valuation of US$ 17,594.29 Mn in the forecast period.

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What are the Key Trends in the Market for High Oleic Oil?

“Increased Customer Preference for Products Supporting Preventive Health to Increase Application of High Oleic Oils in Nutraceuticals”

High oleic oil have the least saturated fat than any of the common culinary oil and such high oleic oils are 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. About 1.5 tablespoons of this oil a day may keep the cardiologist away when used in place of saturated fat.

High oleic oil also has the most plant-based omega-3 fat of the common oils and is a good source of vitamin E. The increased application of high oleic oils in nutraceuticals is expected to witness impressive CAGR of 6.6% in the forecasted period

  • According to the World Health Organization (WHO), cardiovascular diseases 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 to Drive Growth”

In terms of application and performance, high oleic oil finds its use in food manufacturing, primarily for par-fried snacks such as, potato chips or corn chips. It can also be used in some sauces, marinades and dressings, vegetarian meals, as spray coatings for cereal, crackers and dried fruits, and in some bakery products. The smoke point for high oleic oil is much higher than other oils for “an excellent fry life.” High oleic oil is ideal for sautéing, stir-frying, deep-frying, and other high-heat applications. Hence demand for high oleic oil is expected to increase from the food processing industry targeting health-conscious consumers.

“High Oleic Oil Profitable for Producers and Good for Consumers’ Health”

High oleic oil have high oxidative stability and do not require hydrogenation. High oleic oil also have expiry longer than 5 times that of standard oils. These properties of high oleic oil benefit manufactures for the storage of high oleic oil. At the same time, such oils are less harmful to the health of consumers, as the consumption of high oleic oil instead of trans-fats, which are obtained during hydrogenation, as well as low level of carcinogens emerging during the heat treatment, decreases the risk of cardiac disease. Furthermore, high oleic oil has a concentration of Vitamin E (45mg/100gr) as well as oleic acid (Omega 9), which participate in many biochemical processes inside the human body.

“Segregation Costs and Volatile Premiums for Farmers Limiting Production”

Conventional oilseed and oil have more buyers than the high oleic alternative and there is a yield loss when switching from the conventional to the high oleic crop variety. Farmers would like premiums for planting high oleic seeds but the high volatility in premiums is discouraging for them. The access to high oleic seed crop could also be an issue as breeders disliked holding a surplus of seeds as large fluctuations in commodity prices and the fact that high oleic varieties are almost exclusively grown on contract, which also means that supply of high oleic oils is unpredictable and supply/demand is frequently unbalanced. These factors are hindering the market growth and conflicting the market to reach its true potential.

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Country-wise insights

What does the Europe and North America dominate the high oleic oil market?

The global high oleic oil market space is dominated by the established market like North America and Europe with value share of 30.1% and 40.2% in the year 2023. 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, volume of sunflower oil in Europe is expected to witness 1.6x growth as food processors are also actively replacing palm oil.

Why does the Asian Market represent a high potential for the high oleic oil market?

Asian countries have recently joined the trend of preventive health and wellbeing. Hence, Tier-1 companies are targeting potential markets of Asia. The healthy substitute to tradition oils is expected to open lucrative opportunities for the high oleic oil manufacturers in the Asian market with impressive expected value CAGR of 8.7% in South Asia and 8.0% in East Asia.

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Category-wise insights

Why is the High Oleic Oil Expected to Project Higher Sales in the Forecast Duration?

The market value for food industry application is expected to witness 1.8x growth during the forecast period and may reach the market value of US$ 12.3 Bn by the end of 2033 owing to the increased application of high oleic oil as heart health-beneficial edible food in different food products

The online retail volume distribution channel is expected to witness 2.1x growth during the forecasted period attributable to the growing internet penetration globally and quick seek-out deals for choosing price, type, and quality specific high oleic oil.

What is the segmental breakdown of the high oleic oil market?

On the basis of type, the global high oleic oil market is segmented into Canola, Sunflower, Soybean, Palm, and Others. In others we have considered the high oleic oils produced from safflower, olive and other oil seeds.

On the basis of nature, the global high oleic oil is segmented into organic high oleic oil and conventional high oleic oil. The organic high oleic oil is extracted from the organic oil seeds produced under strict regulations set by the respective bodies of various countries. It includes the U.S. Department of Agriculture (USDA) certified, EU organic certified, and other country specific certifications.

On the basis of application, the global high oleic oil is segmented into food, personal care products, nutraceuticals, and others. In this scope of study, in others segments we have considered industrial usage of high oleic oil such as biofuel, paints, agrichemicals, and coatings.

On the basis of distribution channel, the global high oleic oil is segmented into business to business and business to consumer. Business to Consumer (B2C) segment is further sub-segmented into hypermarkets/supermarkets, convenience stores, specialty stores, and online retail.

Competitive Dashboard

Leading manufacturers in the global high oleic oil market space are indulging in various partnerships and collaboration to gain synergy benefits and increase production capacity for high market share. In addition, key players in the global high oleic oil landscape are focusing on launching new products with partnership and collaboration for increased high benefits of high oleic oil to attract more customers.

  • DuPont Pioneer and Monsanto developed high oleic soybeans using biotechnology. To assist these companies in widely commercializing high-oleic varieties, the United Soybean Board made a US$ 20 Mn funding commitment to both companies. Such technological developments are expected to flourish the global high oleic oil market.
  • In 2020, CHS Inc. collaborated with DuPont Pioneer for increasing the production capacity of high oleic soybeans.
  • In the year 2018, Cargill, Incorporated collaborated with Precision BioSciences to further reduce saturated fats of high oleic canola oil. The company is made use of Precision’s ARCUS genome-editing technology to achieve 4.5% less saturated fats in the new product.
  • In 2018, Bunge Limited collaborated with DuPoint Pioneer for the development and commercialization of its Plenish brand of high oleic soybeans.

High Oleic Oil Industry Report Scope

Attribute

Details

Forecast period

2023 to 2033

Historical data available for

2018 to 2022

Market analysis

USD million for value

Key regions covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

Key countries covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key market segments covered

  • Type
  • Nature
  • Application
  • Distribution Channel
  • Region

Key companies profiled

  • 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

Report coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & pricing

Available upon request

High Oleic Oil Industry Research by Category

By Type:

  • Canola
  • Sunflower
  • Soybean
  • Palm
  • Others

By Nature:

  • Organic
  • Conventional

By Application:

  • Food
  • Personal Care Products
  • Nutraceuticals
  • Others

By Distribution Channel:

  • Business to Business
  • Business to Consumer
    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Specialty Stores
    • Online Retail

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

- Companies Covered in This Report -

  • 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

- Frequently Asked Questions -

The global market for high oleic oil has a value of US$ 9,641.10 Mn in 2023.

The global market for high oleic oil has a value CAGR of 4.83% from 2018-2022.

The global market for high oleic oil has a value of US$ 17,594.29 Mn in 2033.

The global market for high oleic oil has a value CAGR of 6.2% from 2023-2033.

The top players include Cargill, Incorporated, Archer Daniels Midland Company, Bunge Limited, PPB Berhad Group, Adams Group Inc., Colorado Mills, CHS Inc. with a market share of about 35%-45%.

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