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The global market for high oleic oil is anticipated to witness a rapid growth in the forecast period of 2021-2026, owing to the rising demand for cosmetic products. The widespread use of high oleic oil in various end use industries is further boosting the market growth. The rising application of oleic oils in cosmetics due to its anti-ageing properties is expected to push the market growth further. The rapid urbanisation, changing consumer preferences, and the rising disposable incomes are expected to further propel the growth of the global high oleic oil industry. The industry is significantly being driven by the rising awareness about the product’s health benefits among consumers. The product is widely accessible to the consumers through various distribution channels, including online platforms like Amazon (NASDAQ: AMZN) and hyperstores like Walmart (NYSE: WMT).
In November 2018, the Food and Drug Administration or FDA approved the claims made about the health benefits of high oleic oils to reduce the risk of coronary heart diseases. The claim suggests that high oleic oils, including high oleic sunflower oil, high oleic safflower oil, high oleic canola oil, high oleic soybean oil, olive oil, and high oleic algal oil, can prove to be extremely beneficial for the heart. FDA approved the claim by stating that the daily consumption of about 20 g of high oleic oils can help in maintaining a healthy heart by reducing the risk of coronary heart ailments. The claim was also supported by Cargill Incorporated, one of the leading key players in the industry.
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The major players in the global high oleic oil market are Archer Daniels Midland Company, Cargill Incorporated, CHS Inc., Colorado Mills, Aveno N.V., and Adams Vegetable Oils, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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