Oleic Acid Market Driven by Demand for Plant-based Offerings: Finds Fact.MR

DUBLIN 2, Ireland - Dec. 9, 2020 - PRLog -- The oleic acid market will display a moderate 3% CAGR for the forecasting period between 2020 and 2030. The coronavirus pandemic will have a marginal impact on the global oleic acids market owing to reduced demand in multiple end use sectors owing to stringent lockdown regulations. However, extensive use of oleic acid in essentials such as food, pharmaceuticals, and personal care products are likely to minimize losses during the crisis period, with the industry likely to reach normalcy towards 2021, as the pandemic subsides.

"Food and technical grade oleic acid variants are estimated to gain demand from the textile rubber, food processing sectors. However, new applications of oleic acid in drug development as an excipient will provide manufacturers with major lucrative opportunities in the years ahead," says the Fact.MR analyst.

Oleic Acid Market - Important Takeaways

• Food and beverage applications of oleic acid account for significant market share, with roles as emulsifiers and binders in the industry.
• Plant-based oleic acid witnessing fast growth owing to changes in consumer preferences including vegan, vegetarian, and halal end products among others.
• Asia Pacific is a prominent market, accounting for more than half of the oleic acid industry owing to large-scale production of multiple edible oils in the region.

Read Report- https://www.factmr.com/report/5233/oleic-acid-market

Oleic Acid Market - Driving Factors

• Industrial applications of oleic acid as protective coatings, lubricants, and surfactants are key drivers of market growth.
• Changes in regulations, encouraging the use of bio-based chemical compounds will support adoption rates.

Oleic Acids Market - Leading Constraints

• Limited range of enzyme addition into chemical reactions is an issue in terms of oleic acid conversion which hinders applications.
• Availability of alternatives to oleic acid the food and industrial sectors are expected to limit market growth.

Anticipated Market Impact by Coronavirus Outbreak

The coronavirus pandemic has moderately affected developments in the global oleic acid market. Disruptions in supply chains owing to lockdowns has been a concern. Also, inventories reaching capacity, a drop in production rates and limited activity in end use industries are restraining short term growth.

However, growing applications in the health care sector, especially in drug and vaccine development will create profitable opportunities.

Competition Landscape

Prominent manufacturers in the oleic acid market include but are not limited to Univar Solutions Inc., Twin Rivers Technologies Inc., Recochem Inc., Emery Oleochemicals (M) Sdn Bhd, White Group Public Co. Ltd., and Kraton Corp.

PR Source- https://www.factmr.com/media-release/1698/global-oleic-ac...