Global Oleochemicals Market is valued approximately USD 22 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7 % over the forecast period 2020-2027. Oleochemicals are based on plant sources or animal fat and derived from natural raw materials. They exhibit very low toxicity, thus, considered to be sustainable. These products are considered as natural, green, organic, safe, renewable, and biodegradable by the scientists and consumers. Rising consumption of environment-friendly, and bio-based chemicals that can be used in various industries such as personal care & cosmetics, food & beverages, pharmaceuticals, and other industries has driven the market positively. Oleochemicals is consumed in various forms such as fatty acids, used for the production of soaps and detergents, surfactants, lubricants, varnishes, and pharmaceuticals. For instance. oleochemicals are combined with caustic soda, sodium, fragrances and preservatives to manufacture organic soaps. Further, high costs of petrochemical products, shifting preference for eco-friendly products and favorable regulations has led the adoption of oleochemicals across the forecast period. For instance, human health & safety regulatory bodies such as the United States Department of Agriculture and Food and Drug Administration have approved the utilization of organic products in several personal care products. For instance: according to the counter.org, by eating organic foods, cancer risk can be reduced by 25%. However, increase in volatility in feedstock prices makes it difficult for companies in a range of sectors – from chemicals, metals and manufacturing, to aviation, oil and gas, etc. may impedes the growth of the market over the forecast period of 2020-2027. Also, with the easy availability of raw materials, and rising awareness about green chemicals, the adoption & demand for oleochemicals is likely to increase.
The regional analysis of global Oleochemicals market is dominated by the Asia-Pacific among the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leadingregion across the world in terms of market share owing to the geriatric population, increased demand for sustainable products in various end-user industries, and rise in demand for fatty acids and other bio-based polymers. Whereas, North America is also anticipated to exhibit highest CAGR over the forecast period 2020-2027. Factors such as presence of large established industries like pharmaceuticals and personal care & cosmetics, would create lucrative growth prospects for the Oleochemicals market across Asia-Pacific region.
Major market player included in this report are:
Musim Mas Group
Procter & Gamble Co.
Twin Rivers Technologies
Chemical Associates Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Personal Care & Cosmetics
Food & Beverages
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Oleochemicals Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers