High Oleic Oil Market Positioned for Stronger Demand, Valued at US$ 17.59 Bn by 2033 - Persistence Market Research

The high oleic oil market has emerged as a vital segment within the global edible oil industry, gaining significant momentum over the past few years due to its superior health benefits, oxidative stability, and growing demand from food processing industries. As of 2023, the market is valued at US$ 9,641.10 million, and with a robust CAGR of 6.2%, it is projected to reach a remarkable US$ 17,594.29 million by 2033. High oleic oils, especially variants derived from canola, sunflower, soybean, and palm, are gaining traction for their neutral flavor, extended shelf life, and superior frying performance.

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High oleic oils are replacing conventional oils in food manufacturing applications due to their low saturated fat content and zero trans-fat profile. The leading product segment in the high oleic oil market is canola oil, while the food industry remains the top application segment. Geographically, Europe dominates the market due to early adoption of palm oil substitutes, followed closely by North America. However, emerging markets in Asia, especially South and East Asia, are expected to offer significant growth potential over the forecast period due to rising health awareness and dietary transitions.

Key Highlights from the Report:

➤ The high oleic oil market is projected to grow at a CAGR of 6.2% from 2023 to 2033.
➤ The market is anticipated to rise from US$ 9,641.10 Mn in 2023 to US$ 17,594.29 Mn by 2033.
➤ Europe holds the largest value share in the global market, accounting for 40.2% in 2023.
➤ The food application segment is forecasted to reach US$ 12.3 Bn by 2033.
➤ Online retail distribution is projected to see 2.1x growth during the forecast period.
➤ Organic high oleic oil is gaining traction due to rising demand for clean-label products.

Market Segmentation

The high oleic oil market is segmented by type into canola, sunflower, soybean, palm, and others, which include safflower and olive-based oils. Canola and sunflower oils dominate due to their high monounsaturated fat content and established supply chains. Based on nature, the market is bifurcated into organic and conventional. Organic variants are seeing rising adoption driven by consumer preference for chemical-free food ingredients.

By application, the market includes food, personal care, nutraceuticals, and industrial uses like biofuels and agrichemicals. The food industry leads the application segment, primarily due to increased usage in frying and baking. Distribution-wise, the market is categorized into B2B and B2C channels. The B2C segment is further divided into hypermarkets/supermarkets, specialty stores, convenience stores, and online retail, with e-commerce showing the fastest growth.

Regional Insights

Europe leads the global high oleic oil market, having already transitioned from palm to high oleic oils in numerous applications, including packaged goods and food services. Countries like Italy and Spain have adopted high oleic sunflower oil in large volumes, with processors moving toward healthier oil options.

North America follows closely, driven by increasing demand from the processed food industry and fast-food chains. The U.S. FDA's approval of health claims for high oleic oils has significantly contributed to market penetration.

Asia is poised for exponential growth, with South and East Asia projected to register CAGRs of 8.7% and 8.0%, respectively. Increasing disposable incomes, rising health consciousness, and urbanization are major growth drivers in this region. Companies are targeting Asia for market expansion through new product launches and strategic collaborations.

Market Drivers

A key factor driving the growth of the high oleic oil market is its health benefit profile. These oils contain high levels of monounsaturated fats, omega-3 fatty acids, and vitamin E, and are low in saturated fats and trans-fats. Such attributes make them ideal for cardiovascular health, prompting increased usage in both home and industrial cooking. Moreover, their high smoke point and oxidative stability make them suitable for high-heat applications such as frying, enhancing their appeal among food manufacturers.

Market Restraints

Despite their benefits, high oleic oils face several production-related constraints. The yield from high oleic seed crops is generally lower than that of conventional crops, discouraging farmers due to lower profitability and premium volatility. Additionally, limited access to high oleic seeds, which are often grown under contract, results in an unpredictable supply chain. These supply issues can lead to imbalanced demand and hinder market growth.

Market Opportunities

The growing trend toward preventive healthcare and clean-label products is creating a fertile environment for high oleic oil adoption. Nutraceutical companies are increasingly incorporating high oleic oils into health supplements, given their positive impact on heart and brain health. The increasing penetration of online retail channels is also opening up new opportunities for market players to reach health-conscious consumers directly. Furthermore, government initiatives promoting heart health are likely to increase demand for healthier cooking oils.

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Company Insights

• 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

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