by Market Size and Growth
The global Polyunsaturated Fatty Acids Market is estimated to be valued at US$ 5.89 Bn in 2022 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview
Polyunsaturated fatty acids (PUFAs) are unsaturated fatty acids that cannot be synthesized in the body and therefore must be consumed through dietary and supplement sources. They play important roles in brain, skin, and heart health. PUFAs help reduce inflammation in the body.
Market key trends:
One of the major trends witnessed in the polyunsaturated fatty acids market is the increasing product launches by key players to meet the demand from end-use industries. For instance, in October 2022, DSM launched its new omega-3 fatty acid range called Veramaris Nature’s DHA and EPA, which is produced through fermentation method. This innovative production method makes DHA and EPA sustainable and scalable to meet the growing demand from consumers looking for sustainable omega-3 fatty acids.
Segment Analysis
The global Polyunsaturated Fatty Acids market Demand is segmented on the basis of type, source, application and region. By type, the omega-3 fatty acids segment dominates the market and accounts for the largest market share. Omega-3 fatty acids such as ALA, EPA, and DHA have significant health benefits and are increasingly being used in various supplements, functional foods and beverages. By source, the plant oils segment is expected to witness high growth during the forecast period owing to the rising vegan population and growing preference for plant-based products.
Key Takeaways
The global Polyunsaturated Fatty Acids market is expected to witness high growth, exhibiting a CAGR of 8.2% over the forecast period, due to increasing health consciousness among consumers and growing awareness about the health benefits of PUFAs.
By region, the North America region currently dominates the market due to rapid adoption of supplements and functional foods. However, the Asia Pacific region is expected to grow at the fastest pace during the forecast period. Factors such as rising disposable incomes, growing middle class population and increasing health awareness are anticipated to drive the growth of the PUFA market in Asia Pacific.
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. These players are focusing on new product launches, partnerships and expansion strategies to gain a competitive advantage in the market.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
