The global polyunsaturated fatty acids market is witnessing significant growth on account of the rising demand for omega-3 and omega-6 fatty acids in various end-use industries such as food and beverages, pharmaceuticals, cosmetics and personal care. Polyunsaturated fatty acids (PUFAs) are lipids that are considered essential fatty acids and cannot be synthesized by the human body. They play an important role in brain health, cardiovascular health, anti-inflammatory functions and skin protection. The major product types include omega-3 fatty acids such as ALA, EPA and DHA and omega-6 fatty acids such as LA and GLA. They are utilized in various forms including ethyl esters, triglycerides and free fatty acids in supplements, functional foods and clinical nutrition.
The Global Polyunsaturated Fatty Acids Market is estimated to be valued at US$ 7.33 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Polyunsaturated Fatty Acids Market Size are Advanced, Ariba, Inc. (SAP SE), Coupa Software Inc, GEP, Procurify, Sage Intacct, Inc. (The Sage Group PLC), Sievo, SutiSoft, Inc., TOUCHSTONE GROUP PLC, VA Tech Ventures Pvt Limited (Happay), and others. Growing awareness regarding health benefits of PUFAs such as lowering cholesterol levels, reducing inflammation and improved cognitive function has been driving its demand in dietary supplements and functional food & beverage products. Furthermore, rise in cases of lifestyle diseases, changing demographics and better economic conditions in emerging countries are fueling the adoption of PUFA-fortified products in the global market. Major players are focusing on capacity expansion plans and investments in research & development to cater to growing needs of end-use industries across international markets.
Key players operating in the polyunsaturated fatty acids market are focusing on production expansion, product launches, mergers & acquisitions to strengthen their market presence and gain a competitive edge in the industry. For instance, BASF SE has commissioned a facility upgradation project for omega-3 fatty acids with an annual capacity of 15,000 tons to meet increasing demand from the aquaculture industry.
Growing demand in food & beverage industry for PUFA-fortified packaged snacks, bakery products and beverages to gain consumer traction has been instrumental in market growth. PUFAs such as ALA, EPA and DHA are widely utilized in infant formula, medical nutrition, sports nutrition and clinical nutrition owing to associated health benefits. Furthermore, increasing application of omega-3 and omega-6 fatty acids in cosmetics & personal care products for anti-aging skin protection has been favoring market revenues.
Market Key Trends
Omega-3 fatty acids fortification has emerged as a notable trend driven by focus on preventive healthcare. Growing consumer health awareness regarding benefits of adequate omega-3 intake in diet for brain health, cardiovascular health and inflammatory conditions has been favoring demand. In addition, favorable regulatory frameworks in developed markets supporting fortification of staple food products with ALA, EPA and DHA is facilitating progressive market growth. Moreover, expanding application scope of PUFAs beyond dietary supplements into clinical nutrition, pharmaceuticals, infant formula and pet food has opened lucrative opportunities, contributing towards industry expansion. However, high costs associated with research & development and production may slightly hamper polyunsaturated fatty acids market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the requirement of high capital investments and technical expertise for PUFA production.
Bargaining power of buyers: The bargaining power of buyers is moderate since the PUFA market has several buyers who purchase in bulk.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the presence of various raw material suppliers in the market.
Threat of new substitutes: The threat of new substitutes is low as PUFAs have no proven substitutes for their health benefits.
Competitive rivalry: The competitive rivalry in the market is high owing to the presence of many domestic and international players who compete based on product quality and pricing.
Geographically, North America holds the largest share of the polyunsaturated fatty acids market, in terms of value, followed by Europe and Asia Pacific. The high demand and consumption of PUFAs from various end-use industries such as food and beverages, pharmaceuticals, and infant formula in countries like the US, Canada, Germany, UK, Italy, and Japan are the major factor driving the polyunsaturated fatty acids market in these regions.
The fastest growing regional market for polyunsaturated fatty acids is expected to be Asia Pacific during the forecast period. Rapid population growth, improving economic conditions, changing dietary patterns, increasing health consciousness among consumers, and growing demand for infant formula and supplements in India, China, South Korea, and other Asian countries are expected to propel the PUFA market in Asia Pacific region between 2024 and 2030.
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