High Oleic Oil Market: Outlook
High oleic oil is rich in monounsaturated fats, and has low saturated fat and no trans-fat, which increases the shelf-stability and flavor of the food. A large amount of monounsaturated fat in high oleic oil has been shown to lower LDL cholesterol (the bad kind) without lowering the HDL cholesterol (the good kind). Low LDL cholesterol decreases the risks of heart disease, heart attacks, and stroke. High oleic oils are often used in packaged baked goods (packaged cakes, cookies, etc.), as spray coating for cereals, crackers, and dried fruits; and in non-dairy creamers as well as many types of frying. The high oleic oil contains a high content of vitamin E and it also contains tocopherols, carotenoids, and waxes. Industrial utilization coupled with the household use of high oleic oil is expected to drive the growth of the high oleic oil market in terms of revenue over the forecast period.
Growing Demand for Cosmetic Products is driving High Oleic Oil Market:
High oleic oil has several health and beauty benefits. With a large section of the population suffering from cardiovascular diseases, high oleic oil is used widely due to its omega-3 and omega-6 fatty acid contents. High oleic acid lowers the level of bad cholesterol without disturbing good cholesterol present in our body, thereby limits the risk of heart ailments. The growing awareness regarding benefits of high oleic oil is one of the crucial factors responsible for the growth of the market. Moreover, the use of high oleic oil in the cosmetic industry has increased exponentially. With its anti-aging properties, this oil is used in controlling wrinkles, blemishes, acne, and fine lines. Another driving factor is the use of the remaining material as livestock feed, which is considered the second-most favored feedstock after soybean.
However, the price of high oleic oil is comparatively high than other the edible oils available in the market, which is a factor expected to hamper its adoption. In addition, the readily available substitutes are expected to limit the growth of the global high oleic oil market.
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Global High Oleic Oil Market: Segmentation
The global High oleic oil market can be segmented based on oil type, application, nature, distribution channel and region.
By oil type, the global high oleic oil market is segmented as –
- Sunflower Oil
- Canola Oil
- Soybean Oil
- Safflower Oil
- Rapeseed Oil
- Others
By application, the global high oleic oil market is segmented as–
- Food
- Bottled Oil
- Savory Snacks
- Industrial Frying
- Spreads & Margarine
- Mayonnaise & Dressings
- Confectionery
- Bakery
- Soups & Noodles
- Ready Meals
- Dairy Product
- Baby Food
- Others
- Health Supplements
- Biodiesel
- Personal Care
- Lubricants
- Plastic & Rubbers
- Coating, Paints & Inks
- Others
By nature, the global high oleic oil market is segmented as–
- Organic
- Conventional
By distribution channel, the global high oleic oil market is segmented as–
- Direct
- Indirect
- Store-based
- Hypermarket/Supermarket
- Convenience Stores
- Discount Stores
- Food & Drinks Health Stores
- Online
- Store-based
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Global High Oleic Oil Market: Key Players
Examples of some of the key players operating in the global high oleic oil market are Archer Daniels Midland Company, Cargill Incorporated, Colorado Mills, CHS Inc., Oliyar Production Company, Delizio, Mcjerry sunflower oil, PPB Group Berhad, ConAgra Foods, Inc, Marico, Rein Oil CC, Associated British Foods plc, Jivo Wellness Pvt. Limited, and The J.M. Smucker Company, among others.
Key Product Launches in the High Oleic Oil Market
- In Dec 2017, the global agro leader, Cargill launched a new high-oleic canola oil. The oil, marketed under the Clear Valley brand, is made from a hybrid canola that contains 4.5% or less saturated fat, marking a reduction of 35% from the previous canola generations. The launch of this product has given the consumers a healthier option.
Opportunities for the Participants
The high oleic oil market is expected to be positively influenced by evolving consumer preferences, and an increasing number of high oleic oil product variants. Catering the growing demand for cake or bakery products containing several health benefits is one of the key supply-side drivers supporting the market growth. High oleic oil containing natural ingredients coupled with lower product penetration level in developing economies is generating opportunities for both large- and small-scale manufacturers across the globe.
Brief Approach to Research
A modeling-based approach and triangulation methodology will be followed to estimate the data covered in this report. A detailed market understanding and assessment of the applications, types, forms, and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.