Polyunsaturated fatty acids or PUFAs are lipids that contain two or more carbon-carbon double bonds. They cannot be synthesized by the body and need to be derived from food. PUFAs play an important role in regulating blood pressure, heart rate, blood clotting, cell growth, and the immune system. They are found in soybean, walnut, flaxseed, and fish oils. PUFAs find wide applications in infant formula, functional food and beverages, pharmaceuticals, and animal feed. Rising cognizance about the health benefits of omega-3 and omega-6 fatty acids is driving the use of PUFAs in dietary supplements and fortified foods.
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 Dynamics:
The polyunsaturated fatty acids market is witnessing high growth owing to increasing health consciousness among consumers. People are more aware about benefits of incorporating PUFAs in their diet to maintain cardiovascular health, brain health, and overall well-being. This growing health awareness has led to surge in demand for PUFA-fortified food products as well as dietary supplements rich in omega-3 and omega-6 fatty acids. Additionally, rising obese and diabetic population worldwide has further propelled the polyunsaturated fatty acids market growth. According to International Diabetes Federation, around 537 million adults were living with diabetes in 2021 worldwide and the number is expected to rise to 783 million by 2045. PUFAs help manage weight and control blood sugar levels, thereby gaining popularity for management of obesity and diabetes. Surging demand from nutraceuticals, pharmaceuticals, infant formula, and animal feed industries has been fueling the polyunsaturated fatty acids market expansion over the forecast period.
SWOT ANALYSIS
Strength: Polyunsaturated Fatty Acids have several health benefits such as reduced risk of heart diseases, anti-inflammatory properties and support brain health. The growing health awareness among consumers is driving the demand for PUFAs. Many food and beverage companies are fortifying their products with omega-3 and omega-6 fatty acids to cater to consumer demand.
Weakness: PUFAs are highly prone to oxidation which decreases their shelf life. Strict regulatory norms regarding their usage levels and stabilization technologies increases production costs. Manufacturers face challenges to prevent quality deterioration during production, storage and transportation.
Opportunity: Rising income levels and expanding middle class in developing countries is resulting in increased discretionary spending on health and wellness products. Functional foods and dietary supplements containing PUFAs are gaining popularity. Major global players are investing in R&D to develop innovative PUFA formulations for various application segments.
Threats: Significant price fluctuations in raw material prices of fish oils and algal oils impacts the supply chain dynamics. Intense competition among existing players pressures profit margins. Misinformation about health risks of highly processed PUFAs can negatively influence consumer sentiment.
KEY TAKEAWAYS
The Global Polyunsaturated Fatty Acids Market Demand is expected to witness high growth over the forecast period. The market size is projected to reach US$ 9.23 Bn by 2030, expanding at a CAGR of 5.3% from 2023 to 2030.
North America currently holds the major share of over 30% of the global PUFAs market. The U.S. accounts for the largestPUFAs market in North America due to growing health consciousness and willingness to pay premium prices for functional foods and supplements. Europe is another major regional market for PUFAs led by countries like Germany, United Kingdom, France, Italy and Spain where nutritional supplements form an important part of daily diet.Asia Pacific region exhibits highest growth opportunities for PUFAs market players with China, India and Southeast Asian countries emerging as high potential markets. Rapid economic development, rising disposable incomes, growing middle class and shifting lifestyles towards preventive healthcare is fueling the demand for dietary supplements and functional foods containing PUFAs.
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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