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Written by Mark Smith » Updated on: November 19th, 2024
According to IMARC Group latest report titled “High Oleic Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on high oleic oil market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global high oleic oil market size is expected to exhibit a growth rate (CAGR) of 5.1% during 2024-2032.
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Factors Affecting the Growth of the High Oleic Oil Industry:
The growth of the high oleic oil industry is significantly influenced by the increasing awareness among consumers regarding health and wellness. In recent years, there has been a noticeable shift towards healthier dietary choices, with consumers actively seeking out products that offer perceived health benefits. High oleic oils, which are rich in monounsaturated fats and low in saturated fats, have gained popularity due to their potential health advantages. These oils have been associated with lowering LDL cholesterol levels, reducing the risk of heart disease, and promoting overall cardiovascular health. Moreover, the rise in lifestyle-related diseases such as obesity, diabetes, and cardiovascular ailments has prompted consumers to adopt healthier eating habits, driving the demand for high oleic oils.
Advancements in technology have played a pivotal role in driving the growth of the high oleic oil industry. Innovations in agricultural practices, plant breeding techniques, and oil extraction methods have enabled manufacturers to produce high-quality oils with enhanced nutritional profiles and extended shelf lives. For instance, biotechnology has facilitated the development of genetically modified crops that yield higher quantities of oleic acid, the key component in high oleic oils. Additionally, improvements in oil processing technologies have led to more efficient extraction methods, ensuring higher yields and better overall quality.
The growing demand for healthier food options in the food industry has impelled the utilization of high oleic oils across various applications. Food manufacturers are increasingly reformulating their products to incorporate high oleic oils as a healthier alternative to conventional oils high in saturated fats. These oils are widely used in the production of snacks, baked goods, salad dressings, and margarine, among other food products. Moreover, high oleic oils offer functional benefits such as stability at high temperatures, longer fry life, and improved shelf stability, making them ideal for use in commercial food preparation settings. The foodservice sector, including restaurants, catering companies, and institutional kitchens, has embraced high oleic oils for their performance attributes and health benefits.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
High Oleic Oil Market Report Segmentation:
By Type:
Sunflower oil represented the largest segment due to its widespread availability, versatile applications, and the growing consumer preference for its high oleic variant due to its health benefits.
By Source:
Conventional represented the largest segment as it encompasses the majority of oil production, catering to both traditional and industrial demand without the premium associated with organic or specialty sourcing methods.
By Application:
Food represented the largest segment due to the extensive use of high oleic oils in food processing, cooking, and baking, driven by consumer demand for healthier food options and the functional properties of these oils.
By Distribution Channel:
Supermarkets and hypermarkets represented the largest segment due to their wide reach, convenience, and ability to offer a diverse range of high oleic oil products to consumers in both urban and rural areas.
By Region:
North America's dominance in the high oleic oil market is attributed to region's early adoption of high oleic oils, driven by health-conscious consumer trends, robust food processing industry, and favorable regulatory environment supporting the use of these oils in various applications.
Global High Oleic Oil Market Trends:
The global market is primarily driven by the increasing demand for healthier food options amid rising health consciousness worldwide. Additionally, the rising versatility of high oleic oil in food applications, including its ability to withstand high temperatures without breaking down, makes it a desirable choice for both manufacturers and consumers alike is propelling market growth.
Moreover, the growing popularity of plant-based diets and the shift towards cleaner labels in food products are driving the adoption of high oleic oil as a natural and sustainable ingredient is propelling market growth. Furthermore, the rapid expansion of the foodservice industry and the need for cost-effective yet high-quality cooking oils are contributing to the market's growth.
Key highlights of the report:
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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