Polyunsaturated fatty acids (PUFAs) are fatty acids that humans and other mammals cannot synthesize de novo and must be obtained from food. PUFAs play important physiological roles and consumption of PUFAs has been linked to positive health effects. Some common PUFAs include omega-3 fatty acids such as alpha-linolenic acid (ALA), eicosapentaenoic acid (EPA), and docosahexaenoic acid (DHA) and omega-6 linoleic acid (LA). The global demand for omega-3 fatty acids has surged in recent years owing to increasing awareness about their role in brain and eye health, cardiovascular benefits, and other health advantages. The growing demand for nutrition-enriched foods has also propelled the consumption of PUFAs.
The global Polyunsaturated Fatty Acids Market is estimated to be valued at Us$ 6.36 Bn in 2023 and is expected to exhibit a CAGR Of 5.3% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising demand for omega-3 fatty acids is one of the major trends spurring the growth of the global PUFAs market. Omega-3 fatty acids play an important role in brain and eye health and numerous clinical studies have linked their consumption to reduced risks of cardiovascular diseases, depression, and other health disorders. With growing health-consciousness, consumers are increasingly incorporating omega-3 enriched functional foods and supplements in their diets to gain associated health benefits. This has significantly boosted the sales of PUFA products, especially omega-3 fatty acid supplements and nutraceuticals. Leading PUFA producers are launching new formulations with higher omega-3 content to cash in on the surging demand from health-savvy customers. The innovative product developments are expected to further support the market expansion over the forecast period.
Segment Analysis
The global Polyunsaturated Fatty Acids market is dominated by the omega-3 segment, which holds a share of over 60% of the overall market. This is because omega-3 fatty acids such as ALA, EPA and DHA have well-established health benefits and are recognized for reducing risk of cardiovascular diseases. They have wide applications across dietary supplements, food and beverage industry.
Key Takeaways
The Global Polyunsaturated Fatty Acids Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising health consciousness among consumers and increasing demand for functional foods. The market size is projected to reach US$ 6.36 Billion by 2030, expanding at a CAGR of 5.3% over the stipulated time frame.
Regional analysis:
North America dominates the global Polyunsaturated Fatty Acids market and is expected to continue its lead through 2030. This is due to widespread awareness about benefits of foods containing PUFAs and growing vegan population driving need for plant-based omega-3 supplements. Asia Pacific is identified as the fastest growing region supported by rising disposable incomes, expanding middle class and growing western influence.
Key players:
Key players operating in the Polyunsaturated Fatty Acids market are Koninklijke DSM N.V, BASF SE, Croda International PLC, Enzymotec Ltd., Omega Protein Corporation, Aker Bio Marine AS, Polaris Nutritional Lipids, FMC Corporation, Cargill, Incorporated, GlaxoSmithKline plc. Koninklijke DSM currently leads the market with the widest range of PUFAs offering across application segments.
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