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High Oleic Oil Market Is Booming At A Cagr Of 6.2% To Reach Us$ 14.4 Bn By The End Of 2031
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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
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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Analysts' Viewpoint
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.
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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.
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