|
Forecast
Period
|
2024-2028
|
|
Market
volume (2022)
|
260
thousand tons
|
|
CAGR
(2023-2028)
|
3.81%
|
|
Fastest
Growing Segment
|
Rapeseed
Oil
|
|
Largest
Market
|
Asia
Pacific
|
Market Overview
Global Erucic Acid Market has volumed at 260
thousand tons in 2022 and is anticipated to project robust growth in the
forecast period with a CAGR of 3.81% through 2028 to reach 322 thousand ton in
2028. driven by population growth, urbanization, changing consumer preferences,
and increasing demand from various end-use industries, including food and
beverage, personal care and cosmetics, pharmaceuticals, and industrial
applications. While the market is relatively small compared to other
oleochemicals, it has witnessed steady growth due to changing consumer preferences
and industrial requirements. Continued emphasis on sustainable and bio-based
products is expected to further drive the demand for erucic acid in the coming
years.The global erucic acid market is a niche segment
within the broader oleochemicals industry. Erucic acid, also known as
docosenoic acid, is a long-chain monounsaturated fatty acid with 22 carbon
atoms. It is primarily derived from rapeseed oil, mustard seed oil, and other
vegetable oils.In the food and beverage sector, erucic acid finds
application in the food industry, primarily as a food additive and emulsifier.
It is used in the production of margarine, spreads, baked goods, and
confectionery items. Additionally, erucic acid is utilized in the formulation
of food-grade lubricants. Erucic acid is also used in the personal care and
cosmetics industry for manufacturing skincare products, hair care products, and
cosmetics. It provides emollient properties and acts as a conditioning agent in
various formulations.In the pharmaceuticals sector, erucic acid is
employed in the pharmaceutical industry for the production of medicinal
products, including ointments and creams. It serves as a base for topical
formulations due to its emollient and moisturizing properties. Erucic acid
finds applications in industrial sectors such as lubricants, plasticizers, and
surfactants. It is used as a raw material to produce industrial lubricants due
to its excellent lubricating properties. All these factors led to rise in the
demand of the global erucic acid market in forecasted period. The global
erucic acid market is characterized by the presence of several major players.
Some of the key companies operating in this market include Croda International
Plc, Cargill, Inc., BASF SE, Wilmar International Ltd, AkzoNobel N.V., and
Emery Oleochemicals.
Key Market Drivers
Increasing Demand in Food and Beverage Industry is
driving the demand for Global Erucic Acid Market
The global Erucic Acid market is experiencing a
significant surge in demand, driven by the ever-expanding food and beverage
industry. Erucic Acid, a long-chain monounsaturated fatty acid, is playing an
increasingly vital role in various food applications due to its unique
properties and benefits. In this article, we will explore how the growing
demand in the food and beverage sector is propelling the Erucic Acid market
forward.
Erucic Acid, primarily sourced from high-erucic
acid rapeseed oil, has found its place in the food and beverage industry for
several reasons that’s led to enhance their properties. Erucic Acid is known
for its oxidative stability, making it a valuable ingredient for extending the
shelf life of food products. It helps prevent rancidity and maintains the
freshness of various food items, including baked goods, snacks, and spreads.
Erucic Acid contributes to the desirable texture
and mouthfeel of certain food products, such as sauces, dressings, and
margarine. Its unique properties make it an ideal choice for achieving the
desired consistency and creaminess in these items. Erucic Acid acts as an
effective emulsifier and stabilizer in food formulations. It helps combine
ingredients that would otherwise separate, ensuring a uniform and appealing
texture in products like salad dressings and sauces.
Erucic Acid sourced from high-erucic acid rapeseed
oil is often perceived as non-GMO and plant-based, appealing to consumers
seeking natural and sustainable ingredients. While the nutritional profile of
Erucic Acid is subject to ongoing research, it is considered a potential source
of monounsaturated fats, which are associated with heart health. This
perception aligns with the growing consumer interest in healthier food choices.
The clean label movement in the food and beverage industry is driving the
demand for Erucic Acid as it is seen as a naturally derived ingredient without
the need for chemical additives or preservatives.
The global food and beverage industry is witnessing
a shift in consumer preferences towards processed and convenience foods. This
shift is fueled by changing lifestyles, urbanization, and the need for
on-the-go meal options. Erucic Acid's role as an ingredient that enhances the
quality, stability, and flavor of these products makes it a valuable component
in the formulation of processed and convenience foods. With the global population
steadily increasing, the demand for food and beverage products is also on the
rise. Erucic Acid's versatility in various applications positions it as an
essential ingredient to meet the growing demand for high-quality,
longer-lasting food products.
Therefore, the
increasing demand in the food and beverage industry is a driving force
behind the growth of the global Erucic Acid market. Its unique properties and
benefits, such as stability, texture enhancement, and clean label appeal, make
it a sought-after ingredient in a wide range of food applications. As the food
industry continues to evolve to meet consumer preferences and global
challenges, Erucic Acid's significance is likely to grow, cementing its place
as a valuable asset in the formulation of diverse food and beverage products.
Growing Personal Care and Cosmetics Industry demand
Pushes the global erucic acid market growth
The global erucic acid market is experiencing
growth, partly due to the increasing demand from the personal care and cosmetics
industry. Erucic acid, a long-chain monounsaturated fatty acid primarily
derived from high-erucic acid rapeseed oil, has found various applications in
personal care and cosmetics.
Erucic acid is valued in the personal care and
cosmetics industry for its emollient properties. It helps moisturize and soften
the skin and hair, making it a desirable ingredient in creams, lotions,
shampoos, conditioners, and other skincare and haircare products. As consumers
increasingly prioritize products that enhance skin and hair health, the demand
for erucic acid in these formulations is rising.
Erucic acid contributes to the texture and sensory
appeal of personal care products. It helps create smooth and creamy textures in
cosmetics, providing a luxurious feel during application. This aspect is
crucial for enhancing the user experience and is particularly sought after in
premium and high-end skincare and cosmetic products.
Cosmetics and personal care products often contain
oils and fats that can become rancid over time, leading to product spoilage.
Erucic acid's oxidative stability helps extend the shelf life of these products
by preventing lipid oxidation, ensuring that consumers receive effective and
safe products.
Erucic acid sourced from high-erucic acid rapeseed
oil is viewed as a natural and plant-based ingredient, aligning with the clean
beauty and natural cosmetics trends. Consumers are increasingly seeking
products that incorporate naturally derived ingredients, and erucic acid fits
well within this trend.
In hair care products, erucic acid can help improve
hair manageability, shine, and overall health. This makes it a valuable
ingredient in shampoos, conditioners, and styling products as consumers seek
solutions for maintaining and enhancing the appearance and health of their
hair.
Erucic acid's unique properties make it suitable
for niche and specialty personal care and cosmetics products. This includes
products designed for specific skin or hair concerns, premium anti-aging
formulations, and specialized treatments, further expanding its market reach.
The global beauty and wellness industry is
experiencing rapid growth, driven by evolving consumer preferences for
self-care and well-being. This trend has created a demand for innovative and
effective personal care and cosmetic products, in which erucic acid can play a
vital role.
Cosmetic and personal care product manufacturers
are continually innovating to meet consumer demands for better performance,
safety, and sustainability. Erucic acid's versatility and compatibility with
various formulations make it an attractive option for product development.
Therefore, the personal care and cosmetics
industry's growing demand for erucic acid is driven by its versatile properties
and its alignment with consumer preferences for natural, effective, and
high-quality products. As the beauty and wellness market continues to expand,
erucic acid is poised to play an increasingly significant role in meeting these
demands, contributing to the overall growth of the global erucic acid market.
Shift towards Sustainable and Bio-based Products is
Driving the global erucic acid Market
The global erucic acid market is experiencing
growth, largely fueled by a notable shift toward sustainable and bio-based
products. Erucic acid, a long-chain monounsaturated fatty acid primarily
derived from high-erucic acid rapeseed oil, aligns with the growing demand for
more environmentally friendly and renewable solutions.
Erucic acid is derived from natural sources,
particularly high-erucic acid rapeseed oil, which is plant-based and renewable.
As consumers increasingly seek products made from sustainable sources, erucic
acid stands out as an attractive ingredient that aligns with these preferences.
The production of erucic acid from rapeseed oil
tends to have a lower environmental footprint compared to some synthetic
alternatives. Its biodegradability and lower impact on ecosystems contribute to
its appeal in environmentally conscious markets.
Erucic acid is known for its biodegradable nature,
making it an environmentally friendly choice in various applications. It is
less likely to persist in the environment and contribute to pollution, aligning
with sustainability goals.
Erucic acid's origin from natural sources often
translates to clean label claims on product packaging. Consumers are
increasingly scrutinizing ingredient lists, favoring products with fewer
synthetic additives and chemicals. Erucic acid's clean and bio-based image
resonates with these preferences.
The personal care, cosmetics, and food industries
are adopting green chemistry principles and seeking bio-based ingredients.
Erucic acid fits into the green chemistry framework by offering an alternative
to conventional, petroleum-based ingredients. Regulatory agencies in various
regions are promoting bio-based and sustainable products. Policies, incentives,
and certifications that favor environmentally friendly ingredients encourage
manufacturers to use erucic acid in their formulations.
Erucic acid's versatility extends to a wide range
of applications, from cosmetics and personal care to food products and
industrial uses. Its suitability for multiple industries allows it to tap into
various markets that prioritize sustainability. Ongoing research and
development efforts are expanding the range of applications for erucic acid.
This includes bio-based plastics, lubricants, and biofuels, further enhancing
its relevance in sustainable product development. Many companies are
incorporating sustainability goals into their business strategies. Erucic acid
is a valuable ingredient that supports these initiatives by contributing to the
development of more sustainable and environmentally responsible products.
Hence, the global erucic acid market is benefiting
from the growing shift toward sustainable and bio-based products. Erucic acid's
natural origin, reduced environmental impact, and versatility in various
applications position it as a key ingredient in the development of eco-friendly
and renewable solutions. As consumer and industry demand for sustainable
products continues to rise, erucic acid is likely to play an increasingly
significant role in meeting these needs, driving the growth of the global
erucic acid market.
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Key Market Challenges
Limited Consumer Awareness of Erucic Acid
Limited consumer awareness of erucic acid indeed
poses a significant challenge for the global erucic acid market. Consumer
awareness plays a crucial role in the acceptance and adoption of any
ingredient, especially in industries like food, cosmetics, and personal care,
where consumers are increasingly conscious of product ingredients and their
potential effects. In today's market, consumers are more informed than ever and
often base their purchasing decisions on factors such as product safety, health
benefits, and ingredient transparency. Limited awareness of erucic acid can
lead to skepticism and reduced confidence in products containing this
ingredient. Manufacturers may face difficulties in marketing and promoting
products containing erucic acid if consumers are unfamiliar with its properties
and benefits. Effective marketing strategies require educating consumers about
the ingredient's safety and advantages. These led to increasing consumer
awareness of erucic acid is crucial for its acceptance and growth in the global
market. Manufacturers, industry stakeholders, and regulatory bodies must
collaborate to educate consumers, clarify any misconceptions, and highlight the
ingredient's safety and benefits. Building consumer trust and confidence in
erucic acid can help overcome the challenge of limited awareness and unlock its
full potential in various applications.
Associated Research and development costs
The global erucic acid market is not without its challenges,
and one of the key hurdles faced by industry players is the substantial
research and development (R&D) costs associated with this unique fatty
acid. Erucic acid, primarily sourced from high-erucic acid rapeseed oil, offers
numerous advantages in various industries, but realizing its full potential
requires significant investment in R&D. Erucic acid has found applications
in food, cosmetics, personal care, and even industrial sectors due to its
emollient properties, stability, and renewable sourcing. However, unlocking new
applications and improving production processes demand ongoing research
efforts, and these endeavors come with financial and resource burdens.
Key Market Trends
Growing Demand for Sustainable Ingredients
The global erucic acid market is witnessing a
profound shift driven by the rising demand for sustainable ingredients. Erucic
acid, primarily sourced from high-erucic acid rapeseed oil, is emerging as a
sought-after solution in response to consumer and industry calls for eco-friendly
and renewable alternatives. As sustainability becomes a paramount concern
across various sectors, erucic acid's appeal lies in its natural origin and
biodegradability. Industries, ranging from cosmetics to industrial
applications, are increasingly turning to erucic acid to reduce their
environmental footprint.
Consumers are gravitating toward products labeled
as clean, green, and natural. Erucic acid fits this narrative perfectly,
aligning with clean beauty trends and the desire for products derived from
renewable sources. Its versatility ensures its relevance in an ever-expanding
range of applications.
Renewable Lubricants and Industrial Applications
The global erucic acid market is experiencing a
significant trend towards renewable lubricants and industrial applications.
This shift is driven by a growing awareness of environmental concerns and the
need for sustainable alternatives in the industrial sector.
Erucic acid, primarily sourced from high-erucic
acid rapeseed oil, has emerged as a promising candidate for the development of
renewable lubricants. Its biodegradable and eco-friendly nature makes it an
attractive choice for industries seeking to reduce their environmental impact.
Erucic acid-based lubricants offer effective performance while aligning with
sustainability goals, making them an ideal option for machinery and equipment
lubrication.
Furthermore, erucic acid's potential applications
extend beyond lubricants. It is finding utility in the production of
biodegradable plastics, specialty chemicals, and various industrial
formulations. Its versatility and renewability position it as a valuable
ingredient in the quest for greener and more sustainable industrial practices.
As industries continue to prioritize sustainability
and eco-consciousness, erucic acid's role in renewable lubricants and
industrial applications is expected to expand. This trend not only benefits the
environment but also opens new avenues for erucic acid utilization in
industries seeking eco-friendly solutions.
Segmental Insights
Source Insights
Based on the source, the Rapeseed Oil segment
emerged as the fastest & dominant player in the global market for Euric
acid in 2022. This can be attributed to its ample supply, natural and renewable
sourcing, stringent quality control, versatility, and widespread market
acceptance. These factors collectively position rapeseed oil as a leading and
rapidly growing player in the erucic acid market.
Rapeseed oil is widely cultivated and readily
available, ensuring a consistent and robust supply of erucic acid. This
reliability appeals to manufacturers and industries seeking a stable source of
this fatty acid. Rapeseed oil is a natural, plant-based source of erucic acid,
aligning with the growing demand for sustainable and eco-friendly ingredients
in various sectors, including cosmetics, food, and industrial applications. The
rapeseed oil industry has established rigorous quality control measures to
ensure the erucic acid content meets industry standards and regulatory
requirements. This reliability and adherence to quality standards enhance its
attractiveness to manufacturers.
Application Insights
The Pharmaceuticals segment is projected to
experience rapid growth during the forecast period. Erucic
acid has garnered significant attention in the pharmaceutical industry for its
potential therapeutic benefits. Research and clinical trials have explored
erucic acid's applications in managing certain medical conditions, including
neurological disorders and heart disease, driving increased demand from
pharmaceutical manufacturers. Secondly, the pharmaceutical sector's stringent
quality and safety standards align with the need for high purity erucic acid,
ensuring that products meet regulatory requirements. Moreover,
the rising global burden of chronic diseases has led to greater emphasis on
developing novel pharmaceutical formulations, where erucic acid finds utility
as an ingredient with potential health benefits. The Pharmaceuticals segment's
dominant position underscores erucic acid's growing importance in medical
research and therapeutic applications. This trend is expected to continue as
further research validates its efficacy and expands its role in pharmaceutical
formulations.
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Regional Insights
The Asia Pacific region is a significant consumer
and producer of erucic acid. Countries like China and India have a large
population base, robust industrial sectors, and a growing food and personal
care industry, driving the demand for erucic acid in the region.
North
America is another important market for erucic acid, primarily driven by the
presence of a well-established food and beverage industry. The region also
witnesses demand from the personal care and cosmetics sector due to a high
level of consumer spending.
Europe has a mature market for erucic acid, with
demand driven by the food industry and stringent regulations governing the use
of additives. The region also emphasizes sustainable and bio-based products,
which contributes to the market growth. Other regions, such as South America and the Middle
East, are experiencing a gradual increase in the consumption of erucic acid.
This growth can be attributed to the expanding industrial and personal care
sectors in these regions.
Recent Developments
- In 2021, Avril acquired the erucic acid business of
Oleon, making it a major player in the global erucic acid market.
- In 2020, Cargill acquired the erucic acid business
of Croda International. These mergers and acquisitions have helped to create a
number of stronger players in the global erucic acid market. This is expected
to lead to increased competition and innovation in the market, which is likely
to benefit consumers.
- In 2019, Evonik Industries acquired the erucic acid
business of Lonza Group. The acquisition of Lonza's erucic acid business gave
Evonik access to Lonza's expertise and production capacity in the erucic acid
market.
Key Market Players
- Bunge Limited
- Cargill, Incorporated
- Archer Daniels Midland Company
- Perdue Farms
- Vantage Specialty Chemicals, Inc.
- Godrej Industries Limited
- Wilmar International Limited
|
By Source
|
By Grade
|
By Application
|
By Region
|
- Rapeseed Oil
- Canola
- Tame Mustard
- Fish
- Others
|
|
- Plastic
- Printing Ink
- Personal
Care
- Rubber
- Pharmaceuticals
- Others
|
- Asia Pacific
- North
America
- Europe
- South
America
- Middle East
& Africa
|
Report Scope:
In this report, the Global Erucic Acid Market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Erucic Acid Market, By Source:
o Rapeseed Oil
o Canola
o Tame Mustard
o Fish
o Others
- Erucic Acid Market, By Grade:
o Low
o High
- Erucic Acid Market, By Application:
o Plastic
o Printing Ink
o Personal Care
o Rubber
o Pharmaceuticals
o Others
- Erucic Acid Market, By Region:
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
§ Turkey
§ Egypt
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Erucic
Acid Market.
Available Customizations:
Global Erucic Acid Market report with the
given market data, TechSci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
Global Erucic Acid
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