Market Size – USD 98.8 Million in 2018, Market Growth – CAGR of 5.3%, Market Trends – Growing demand in personal care products
The global High Oleic Safflower Oil Market is expected to reach USD 158.6 Million by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the growing demand for high oleic safflower oil from end-use applications.
High oleic safflower finds widespread application in several food products for healthy substitutes to hydrogenated oils. High oleic safflower oil, naturally occurring vegetable oil, has a prolonged shelf life without chemically modifying the original oil. A pleasant flavor and aroma makes high oleic safflower oil very suitable for an extensive range of food applications, including liquid flavor dispersant, spray oil for dried fruits, and dietary supplements, aswell as it finds usage in infant formulas. High amount of oleic acid in the safflower oil offer stability, which is commonly present hydrogenated oils, along with oils with additional antioxidants.
Growing demand for high oleic safflower oil in personal care products is driving the growth of the market. This high content of oleic acid makes it a highly stable oil for numerous personal care applications. It finds usage as an emollient in a wide variety of skincare products. Moreover, owing to its fatty acid composition, it has exceptional occlusive features, allowing it to function as a moisturizing agent by averting excessive loss of moisture through the skin epidermis.
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Key Participants Include:
Gustav Heess Oleochemische Erzeugnisse GmbH, Marico Limited, SunOpta, Connoils LLC, Oilseeds International Limited, Adams Group Inc., Henry Lamotte Oils GmbH, Spectrum Organic Products LLC, Victor & Summat general Trading, and Austrade Inc., among others.
For the purpose of this report, Reports and Data have segmented the global high oleic safflower oil market on the basis of nature, distribution channel, application:
Nature Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Dietary Supplements
- Personal Care
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Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- North America
- Asia Pacific
- Latin America
Further key findings from the report suggest
- By nature, conventional oil contributed to a substantial market share in 2018 and is expected to grow at a faster rate in the forecast period.
- By distribution channel, offline distribution held a larger market share in 2018 and is likely to have a CAGR of 4.4% in the forecast period. Offline channel is the most preferred channel for distribution as it includes the opportunity for customers to create personal connections with business, which is beneficial in building loyalty.
- By application, dietary supplements are expected to witness a growth rate of 6.3% in the period 2019-2027, owing to the presence of omega-3 and omega-6 fatty acids in high oleic safflower oil which helps in lowering bad cholesterol thereby reducing the chances of cardiovascular diseases.
- The market in the Asia Pacific region contributed to the largest market in 2018 and is projected to grow at a rate of 6.1% in the forecast period. The market dominance of the Asia Pacific region may be attributed to the rapidly increasing population in developing countries such as China and India, as well as the growth of the end-user industries.
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Key Questions Answered in the Report:
- What will be the expected revenue growth of the High Oleic Safflower Oil market till 2027?
- What key factors are expected to drive revenue growth of the market?
- What are the key drivers, restraints, opportunities, threats, and challenges the market will face in the coming years?
- Which segment and region are expected to account for largest share in the market in the forecast period?
- Which companies are operating in the High Oleic Safflower Oil market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
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