The polyunsaturated fatty acids market involves products such as omega-3 and omega-6 fatty acids that provide various health benefits to consumers. Omega-3 fatty acids help support brain and heart health while omega-6 fatty acids are important for skin and hair health. The demand for these products is increasing as more people aim to include nutritious and healthy ingredients in their regular diets.
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 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. Key players are focusing on adopting various organic and inorganic growth strategies such as new product launches, expansions, mergers and acquisitions to gain a competitive advantage in the market.
The key opportunities in the market include increasing demand from food and beverage industry for utilizing polyunsaturated fatty acids in various products and growing use of omega-3 and omega-6 supplements owing to various associated health benefits. The global expansion of the market is driven by rising health consciousness among consumers around the world. Manufacturers are also exploring opportunities in emerging markets such as Asia Pacific and Latin America attributed to growing middle class population and disposable incomes.
Market Drivers
The Polyunsaturated Fatty Acids Market Size is estimated to witness high growth owing to rising health consciousness among people worldwide. As more research highlights the various health benefits of consuming omega-3 and omega-6 fatty acids, consumers are increasingly incorporating these products into their diets. The key driver for the growth of this market is the ability of polyunsaturated fatty acids to help reduce risk of heart diseases, lower blood pressure, boost brain health etc. This growing awareness about fatty acids is fueling the demand in dietary supplements, infant formula and functional food and beverages segments.
PEST Analysis
Political: Regulations regarding the allowed levels of trans fats in foods may influence demand. Government actions aimed at improving public health could boost market growth.
Economic: As consumer incomes rise globally, demand for healthier and more nutritious foods increases, driving the polyunsaturated fatty acids market. Fluctuations in commodity prices affect raw material costs.
Social: Growing health consciousness and focus on preventive healthcare is increasing demand for foods containing omega-3 and omega-6 fatty acids. Changing lifestyles and diet patterns favor products with polyunsaturated fats.
Technological: New technologies enable the efficient extraction of polyunsaturated fatty acids from plants and microbial sources. Advances in microencapsulation aid in improving the stability, functionality and delivery of polyunsaturated fatty acids in various applications.
The Asia Pacific region represents the largest market for polyunsaturated fatty acids in terms of value, owing to high consumption of food products fortified with PUFAs in countries such as China, India, and Japan. North America is another major regional market supported by nutritional supplement manufacturers utilizing omega-3 and omega-6 fatty acids.
The polyunsaturated fatty acids market is projected to witness fastest gains in the Middle East and Africa region over the forecast period. This can be attributed to rising health issues, increasing awareness about nutrition, and growing focus on preventive healthcare in the region. Additionally, demand for PUFA-fortified infant formulas and milk products is surging across African countries.
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