Rising consumer demand for nutritious products is driving sales of polyunsaturated fatty acids (PUFAs), promoting health-conscious choices.

NEWARK, DELAWARE, UNITED STATES, September 11, 2023/EINPresswire.com/ -- The polyunsaturated fatty acids market is forecast to experience a growth of 5.4% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 6,019 million in 2023.

Demand for polyunsaturated fatty acids (PUFAs) is projected to be propelled by surging awareness about the health benefits of PUFAs, escalating chronic diseases, and support from government bodies and institutions.

Many research and development activities are expected to develop new technologies and improve PUFAs, thus fueling market growth.

Demand for plant-based food products is catching up in the polyunsaturated fatty acids industry as well. Consumers are showing an inclination toward plant-based PUFA products from animal-based ones. This can be attributed to the growing eco-consciousness and awareness about holistic lifestyle choices. Multifold animals and plants provide PUFA. Despite the recent shift toward vegan and plant-based products, animal-based PUFA products still retain their dominance in the PUFA market.

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Long-term health issues are expected to rise over the forecast period, underpinned by variations in societal behavior and the aging population. Moreover, the global population is constantly increasing, and with robust urbanization, people are adopting a deskbound lifestyle. The said factors are increasing obesity rates and the incidence of diseases like diabetes. For recourse, governments and public organizations are encouraging healthier lifestyles that include omega-3 to combat chronic issues.

Manufacturers in the market have to strictly adhere to national as well as international regulatory norms. Adherence to these standards for sustainable production and large pockets of distribution channels remain a promising key driver for the market. Additionally, obtaining certifications from authorized bodies like USDA has led to emerging opportunities in different segments, thus driving product demand.

Top Highlights from the FMI’s Analysis of the Polyunsaturated Fatty Acids Market:

The United States contributes 12.8% to the overall market, as per FMI’s assessment. The high market share of the country represents large, nationwide participation of manufacturers of polyunsaturated fatty acids.

Germany scored 7.2% of the global market, demonstrating its dominance in the European region. Over the years, businesses in Germany are expected to observe process efficiency and productivity, thus fueling market growth.

The United Kingdom is projected to expand at a significant CAGR of 5.1% over the next ten years. Robust expansion of the market is expected to attract many businesses in this country.

In 2023, Japan gathered a 3.2% market share globally. Enterprises are expected to strengthen their distribution channels to deeply penetrate the Japanese market.

Australia is expected to account for a 1.8% value share in 2023. Despite its relatively low market hold, the country offers enterprises many opportunities to explore the market.

India and China are estimated to register CAGRs of 4.9% and 4.6% over the forecast period.

Based on product type, omega-6 fatty acids are projected to attain a market share of 57.1% in 2023.

Under the application category, the dietary supplement segment is expected to attain 27.2% in 2023.

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Key Developments in the Market

Aker BioMarine ASA collaborated with Gambol Pet Food Group of China in November 2021 to widen its business in the Chinese pet food market.
VivoMega declared in December 2020 that it is partnering with Bioscope Viet Nam, aiming to capture the Vietnamese market of omega-3 fatty acids.
LUS Health Ingredients and Novosana B.V. partnered in April 2020 to work on the vegan omega-3 industry.

Top Players in the Global Market

Koninklijke DSM N.V.
BASF SE
Croda International PLC
Enzymotec Ltd.
Omega Protein Corporation
Aker BioMarine AS
Polaris Nutritional Lipids
FMC Corporation
Cargill, Incorporated
GlaxoSmithKline plc.

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Polyunsaturated Fatty Acids Market by Category

By Product Type:

Omega-3 Fatty Acids
Omega-6 Fatty Acids

By Source:

Marine
Plant
Chia Seed Oil
Flax Seed Oil

By Application:

Dietary Supplement
Infant Formula
Pharmaceuticals
Food and Beverages
Animal Food and Feed

By Form:

Oil
Syrup
Softgel and Capsule
Other (Powder, Emulsion, and Gummy Candy)

By Region:

North America
Latin America
East Asia
Europe
South Asia & Pacific
Middle East & Africa (MEA)

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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Future Market Insights, Inc.
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