Oleamide Market - Forecast(2023 - 2028)

Oleamide Market Overview

Oleamide Market size is forecasted to grow at a CAGR of 4.8% during the forecast period 2022-2027. Oleamide is an organic compound derived from fatty acid oleic acid. The superior properties of oleamides such as high slip, mold release, torque release, and scuff resistance ensure higher oxidation strength, thereby making its use ideal for rubber, adhesives and sealant, and more. The Oleamide Market is primarily driven by the growth of the food and beverage industry. Moreover, oleamides are utilized in lipids and peptides, which are used in pharmaceuticals for the treatment of sleep disorders. The surging pharmaceuticals industry is anticipated to fuel the demand for oleamide, which in turn will fuel the market growth during the projected forecast period.

COVID-19 Impact 

In the year 2020, due to the surging Covid-19 pandemic, major economies of the world were under lockdown, which negatively impacted the Oleamide Market growth. The production activities of the food and beverage industry were temporarily halted, as a result, the demand for food packaging declined, which in turn resulted in revenue losses for the Oleamide Market. However, in 2021, the ease of the Covid-19 related regulation strengthened the production activities related to food and beverage, automotive, and other such sectors. For instance, according to the Federation of Bakers Ltd, in the year 2020, the U.K morning and snacks bakery production were 1.09 billion, and in 2021 it was 1.18 billion units, an increase of 7.6%. As a result of the increase in the production of food and beverages the demand for food packaging increased, which benefited the market growth.

Report Coverage 

The report: "Oleamide Market–Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Oleamide Market. 

The food and beverage segment held a significant share in the Oleamide Market in 2021 and is forecasted to grow at a CAGR of 5.8% during the forecast period 2022-2027. In food and beverage oleamide is employed in food packaging materials along with lipids to ensure superior food protection. The factors such as increasing disposable income, growing demand for fresh food, and more are accelerating the production of vegetables, fruits, bakeries, and other product products, thereby fueling the demand for food packaging. For instance, according to the Federation of Bakers Ltd, in the year 2021, the U.K morning and snacks bakery production was 1.18 billion units, an increase of 7.6% when compared with 2020. Hence, the surging food and beverage industry is propelling the demand for food packaging.

Oleamide Market Segment Analysis – By Geography 

Asia-Pacific region is the dominating region as it holds the largest share in the Oleamide Market in 2021 with 39% and is forecasted to grow at a CAGR of 6.3% during the forecast period 2022-2027. The economic growth of Asia-Pacific countries is driven by the growth of various sectors including food and beverage, pharmaceuticals, and more in the region. The factors such as increasing food security, increasing population, and others are resulting in surging production of food and beverage in the Asia-Pacific region. For instance, according to the Food and Agriculture Organization (FAO) states India and China are the main producers of vegetables and fruits in terms of volume. In 2019, China produced 588.26 million metric tons of fresh vegetables, while India produced 132.03 million metric tons. Moreover, according to the Association of Southeast Asian Nations (ASEAN), bakery products such as cookies, biscuits, and more are the largest segment within the food and beverages category of Thailand. It was valued at US$8.9 billion in 2020, the market is expected to register a growth of 1.2% annually until 2025. Therefore, the growing food & beverage industry of the Asia-Pacific region is fueling the demand for packaging, which in turn is boosting the market growth.