Oleic, Linoleic Or Linolenic Acids Market

The global market for oleic, linoleic or linolenic acids, their salts and esters is anticipated to see continued growth in consumption over the next eight years. By 2030, the market volume is forecasted to reach 637K tons and the market value to reach $1.9B. In 2022, countries like China, Italy, and the United States led in both consumption and production. The trend pattern showed fluctuations throughout the analyzed period, with notable increases in consumption and production. China emerged as the major exporter, with significant growth in exports. The average export price also saw an increase in 2022, with differences in prices amongst the major exporting countries.

Market Forecast

Driven by increasing demand for oleic, linoleic or linolenic acids, their salts and esters worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market volume to 637K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.5% for the period from 2022 to 2030, which is projected to bring the market value to $1.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

In 2022, approx. 491K tons of oleic, linoleic or linolenic acids, their salts and esters were consumed worldwide; surging by 2.9% compared with 2021. In general, the total consumption indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +89.3% against 2014 indices. Global consumption peaked in 2022 and is likely to see gradual growth in years to come.

The size of the market for oleic, linoleic or linolenic acids, their salts and esters worldwide rose modestly to $1.2B in 2022, with an increase of 2.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +75.7% against 2013 indices. Over the period under review, the global market hit record highs in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (64K tons), Italy (56K tons) and the United States (52K tons), with a combined 35% share of global consumption. India, Bulgaria, Brazil, Indonesia, Japan, Germany, Turkey, Saudi Arabia, Spain and Thailand lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +93.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($164M), Italy ($156M) and China ($126M) were the countries with the highest levels of market value in 2022, with a combined 36% share of the global market.

Among the main consuming countries, Italy, with a CAGR of +16.9%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of oleic, linoleic or linolenic acids per capita consumption was registered in Bulgaria (3,851 kg per million persons), followed by Italy (953 kg per million persons), Saudi Arabia (307 kg per million persons) and Germany (194 kg per million persons), while the world average per capita consumption of oleic, linoleic or linolenic acids was estimated at 62 kg per million persons.

From 2012 to 2022, the average annual rate of growth in terms of the oleic, linoleic or linolenic acids per capita consumption in Bulgaria stood at +94.4%. In the other countries, the average annual rates were as follows: Italy (+27.3% per year) and Saudi Arabia (+10.7% per year).

Production

World Production of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

In 2022, the amount of oleic, linoleic or linolenic acids, their salts and esters produced worldwide totaled 536K tons, picking up by 6.6% compared with 2021. Overall, the total production indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +100.0% against 2014 indices. The pace of growth was the most pronounced in 2017 with an increase of 20%. Over the period under review, global production hit record highs in 2022 and is likely to continue growth in the immediate term.

In value terms, oleic, linoleic or linolenic acids production rose markedly to $1.2B in 2022 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +67.7% against 2014 indices. The pace of growth was the most pronounced in 2017 with an increase of 18%. Over the period under review, global production hit record highs in 2022 and is likely to continue growth in the immediate term.

Production By Country

The countries with the highest volumes of production in 2022 were China (107K tons), Italy (74K tons) and the United States (54K tons), together accounting for 44% of global production. India, Bulgaria, Indonesia, Brazil, Japan, Turkey, Saudi Arabia, Malaysia and the UK lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Bulgaria (with a CAGR of +47.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

Global oleic, linoleic or linolenic acids imports shrank slightly to 75K tons in 2022, declining by -4% on 2021 figures. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 17%. Over the period under review, global imports hit record highs at 78K tons in 2021, and then declined slightly in the following year.

In value terms, oleic, linoleic or linolenic acids imports soared to $254M in 2022. In general, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports By Country

In 2022, Germany (15K tons), distantly followed by the Netherlands (6.1K tons), China (4.6K tons), France (4.2K tons) and Spain (3.8K tons) were the key importers of oleic, linoleic or linolenic acids, their salts and esters, together achieving 45% of total imports. Belgium (3.3K tons), Japan (2.8K tons), Brazil (2.8K tons), Italy (2.6K tons), Russia (2.4K tons), the United States (1.8K tons), Taiwan (Chinese) (1.8K tons) and South Africa (1.4K tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to oleic, linoleic or linolenic acids imports into Germany stood at +1.8%. At the same time, China (+14.0%), Japan (+11.0%), the United States (+8.2%), Russia (+7.8%), Italy (+7.2%), Brazil (+6.6%), Belgium (+3.5%), the Netherlands (+3.2%), Taiwan (Chinese) (+1.9%) and Spain (+1.9%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +14.0% from 2012-2022. South Africa experienced a relatively flat trend pattern. By contrast, France (-4.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Germany, Japan, the Netherlands, Italy, Brazil and Russia increased by +4.4, +2.5, +2.4, +2, +1.7, +1.7 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($49M) constitutes the largest market for imported oleic, linoleic or linolenic acids, their salts and esters worldwide, comprising 19% of global imports. The second position in the ranking was held by the Netherlands ($18M), with a 6.9% share of global imports. It was followed by France, with a 6.1% share.

In Germany, oleic, linoleic or linolenic acids imports increased at an average annual rate of +6.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (+3.1% per year) and France (-0.2% per year).

Import Prices By Country

The average import price for oleic, linoleic or linolenic acids, their salts and esters stood at $3,374 per ton in 2022, growing by 23% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($4,833 per ton), while Belgium ($1,927 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

In 2022, overseas shipments of oleic, linoleic or linolenic acids, their salts and esters increased by 16% to 120K tons, rising for the second year in a row after three years of decline. Over the period under review, total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.0% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 28%. The global exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, oleic, linoleic or linolenic acids exports surged to $334M in 2022. Overall, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 58% against the previous year. The global exports peaked in 2022 and are likely to continue growth in years to come.

Exports By Country

China represented the major exporter of oleic, linoleic or linolenic acids, their salts and esters in the world, with the volume of exports reaching 47K tons, which was near 39% of total exports in 2022. It was distantly followed by Italy (20K tons), Belgium (7.5K tons), Malaysia (6.7K tons) and India (6.6K tons), together comprising a 34% share of total exports. The Netherlands (3.7K tons), the United States (3.7K tons), Taiwan (Chinese) (3K tons), Indonesia (3K tons), France (2.7K tons), South Korea (2.3K tons), Germany (2.1K tons) and the UK (2K tons) held a minor share of total exports.

China was also the fastest-growing in terms of the oleic, linoleic or linolenic acids, their salts and esters exports, with a CAGR of +11.6% from 2012 to 2022. At the same time, Taiwan (Chinese) (+9.4%), Belgium (+6.0%), Italy (+5.1%), South Korea (+4.7%), France (+2.8%), the Netherlands (+1.9%) and India (+1.1%) displayed positive paces of growth. The United States, Indonesia and Germany experienced a relatively flat trend pattern. By contrast, Malaysia (-1.1%) and the UK (-6.5%) illustrated a downward trend over the same period. While the share of China (+20 p.p.) and Italy (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of India (-1.9 p.p.), the UK (-3.1 p.p.) and Malaysia (-3.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest oleic, linoleic or linolenic acids supplying countries worldwide were China ($86M), Italy ($66M) and Belgium ($25M), with a combined 53% share of global exports.

Among the main exporting countries, China, with a CAGR of +10.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for oleic, linoleic or linolenic acids, their salts and esters stood at $2,779 per ton in 2022, increasing by 6.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2021 an increase of 25% against the previous year. The global export price peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($6,589 per ton), while Indonesia ($1,770 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+7.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform